Global fire resistant fabrics market research information: type (treated fire resistant fabrics,), application (apparel, apparel) end-user industry (Oil & Gas, Building & Construction, defense and Others) – Forecast till 2023
Pune, India -- (SBWIRE) -- 03/29/2018 -- Fire Resistant Fabrics are used in a wide range of end-use industry such as building and construction. Oil and gas, transportation, and defense and public safety. The burgeoning construction and industrial sector across the globe is substantially affecting the growth of the fire resistant fabrics market.
The Global Fire Resistant Fabrics Market has been driven by a range of application in the various end-use industries coupled with the growing work safety concerns. Moreover, it is estimated that the building and construction sector is set to witness the highest growth during the forecast period, 2017-2023
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 treated fire resistant fabrics, inherent fire resistant fabrics. The market by application is categorized into apparel and non-apparel. The market by end use industry is further segregated into oil & gas, building & construction, defense and public safety, transportation and others.
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The building & construction end-user segment is the dominant segment and transportation is anticipated to be the fastest growing segment during the forecast years. The growth of this segment is attributed to the growing consumption of fire resistant apparels in the construction industry.
The Global Fire Resistant Fabrics Market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at an exponential CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as the transportation, construction and manufacturing among others, which, in turn, is anticipated to fuel the demand for Fire Resistant Fabrics in the region. Moreover, the growing oil and gas activities is also expected to add to the demand for fire resistant apparels and materials in the region.
The European region is estimated to witness a significant growth owing to the implementation of stringent work safety regulations. The growing adoption rate are other factors contributing to the growth of the market. Major countries attributing to growth of the European market are Germany, France, Italy, and U.K.
The North American Fire Resistant Fabrics Market is mainly driven by the U.S. and Canada. The presence of the developed end-user industries coupled with the increasing adoption rate is contributing significantly to the growth of the market. Moreover, the growth in the R&D activities to develop environmentally sustainable fire resistance fabrics has brought in new opportunities, which is expected to positively affect the market growth.
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