Transparency Market Research has published a new research “Flame Resistant Fabrics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024” to their report store.
Albany, NY -- (SBWIRE) -- 02/09/2017 -- Flame resistant fabrics, the textiles which inherently possess flame resistant properties or are treated with a flame resistant substance, are extensively used to manufacture garments, furnishings, and apparels for applications across a number of industries, including hospitality, military, healthcare, and oil and gas. Blends of treated and inherently flame resistance fibers fabrics are also commonly used to manufacture flame resistant products for use across these and other industries.
In the past few years, a vast rise in demand for flame resistant clothing for use in the defense industry and several other industries with constant risk of fire outbreaks has been witnessed across the globe. Thus, flame resistant clothing and the market producing and marketing flame resistant fabrics makes for a marketplace with vast growth opportunities, especially as government regulations regarding employee safety in high-risk industries and operations become increasingly stringent.
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Transparency Market Research estimates that the global flame resistant fabric market will exhibit a promising 6.8% CAGR from 2016 to 2024 and rise from a valuation of US$3.63 bn in 2015 to US$6.56 bn by 2024.
Applications in Industrial Protective Clothing to Rake in Leading Sale Volumes
Of the key applications of flame resistant fabrics, including use in law enforcement and firefighting services, corporate and home furnishing, industrial protective clothing, and the transport industry, applications across the industrial protective clothing are presently the most lucrative ones. The segment topped amongst key application areas in terms of volume-wise consumption or sales of flame resistant fabrics in the global market in 2015 and was followed by the law enforcement and firefighting services and transportation segments.
Industrial protective clothing creates an inert and stable barrier between the skin and fire, granting the wearer effective protection against direct exposure to flames or excessive temperatures. While industrial protective clothing has witnessed extensive rise in demand across key end-use industries, its demand curve steepened in 2015 owing to a significant slowdown in the oil and gas industry. Nevertheless, applications across the transport industry helped the market achieve stable growth and sustainable returns.
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Market in Europe Projected to Retain Dominance
In terms of geography, the global flame resistant fabric market witnessed the dominance of Europe, which gained a nearly 30% of the global market in 2015. Vast demand for flame resistant fabrics for the production of a diverse range of products utilized in the region's established and high-growth transportation industry is the key factor driving the Europe flame resistant fabrics market. Countries such as Italy and Germany are expected to remain the leading demand drivers of the region's flame resistant fabrics market due to the high demand from end-use industries such as car racing.
Asia Pacific is presently the second-leading consumer of flame resistant fabrics and is expected to remain one of the most promising regional markets for flame resistant fabrics in the next few years as well. The region features a rapidly expanding industrial sector across countries such as India and China and has a constantly rising human resource pool serving it. As a result, the demand for protective clothing is presently high and is expected to rise substantially over the next few years.
North America accounted for the third-largest share in the global market in 2015 and is expected to remain one of the leading consumers of flame resistant fabrics in the near future owing to strict employee safety regulations. The market for flame resistant fabrics is also expected to witness sizeable traction in the Middle East and Africa owing to encouraging growth observed in the industrial sector of late.
Some of the key vendors operating in the market are Teijin Aramid, TenCate, DuPont, Lenzing AG, and Milliken & Company.