Pune, India -- (SBWIRE) -- 07/12/2018 -- Fire Resistant Fabrics Market – Market Overview
Fire Resistant Fabrics are a type of textile that has the ability to withstand heat and resist burning. The growing adoption of work place regulation across the globe are the major factor driving the global market of Fire Resistance Fabrics. The growing demand form end use industries such as oil & gas, building & construction, firefighting, and military & defense among others is also substantially contributing to the growth of the market. However, the changing price of raw material prices coupled with high cost associated in the production of fire Resistant Fabric is anticipated to be a major restraint in the growth of the market.
The Global Fire Resistant Fabrics Market is segmented into type, application, and end-user. On the basis of the type, the market is segregated into aramid & blends, polyolefin & blends, polyamide, PBI, cotton fibers, laminated polyesters, and others. The PBI material segment was the leading segment in 2016 and is anticipated to show the same trend during the forecast years. The properties such as high thermal and chemical stability is substantially adding to the growth of the segment. On the basis of end use industry the building & construction is expected to be the dominant segment during the forecast period. The growing government expenditure in the development of both private as well as public infrastructure is positively effecting the growth of the segment.
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According to the analysis of MRFR, the major market forces and trends driving growth of the Global Fire Resistant Fabrics Market includes growth of building & sector and the stringent regulation for the adoption of work safety. Moreover, the growing oil and gas industry has also augmented the use of fire resistant fabrics in the drilling and exploration activities.
Fire Resistant Fabrics Market- Competitive Landscape
The Global Fire Resistant Fabrics Market is a highly lucrative market driven by growth of the construction sector coupled with the propelling investment in the the oil & gas industry. E.I. DuPont De Nemours and Company (U.S.), Kaneka Corporation (Japan), PBI Performance Products Inc. (U.S.), Royal TenCate N.V. (Netherlands), Teijin Ltd. (Japan), Westex By Milliken (U.S.) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the global Fire resistant fabrics Market is projected to witness considerable competition over the forecast period of 2017-2023. North America is expected to be the dominant market whereas Asia Pacific is anticipated grow with the highest CAGR during the forecast period. The developed industries mainly in Canada and U.S. is fuelling the demand for Fire Resistant Fabrics in the region. Furthermore, the presence of strict work safety regulation is also contributing to the demand for fire resistant fabrics various industries of the region.
Industry/ Innovation/ Related News:
14th December, 2016- Japanese based company Teijin Limited has made an addition to their product portfolio with the launch of 'Xfire DENIM'. This new product is made from denim like aramid fiber fabric especially designed for fire corps. The product has enhanced flexibility and comfort which is expected to drive its market growth.
24th April, 2017- W.L Gore & Associates, Inc. made an innovation in the fire resistant fabrics market with the launch of products GORE PYRAD Fabric Technology. This new product provides enhanced thermal burn protection, comfort as well as environment protection. The product also possesses the ability to self-extinguish flames. This product is expected to augment the demand for the military and defense applications.
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