Global Fire Resistant Fabrics Market Report, published by Variant Market Research, forecast that the global market is expected to reach $6,729 million by 2024 from $4,128 million in 2016; growing at a CAGR of 6.3% from 2016 to 2024. By geography, Asia-Pacific and Europe are expected to grow at a CAGR of 6.9% and 6.2%, respectively, during the forecast period.Fire Resistant fabrics are more resistant to fire, manufactured with chemical treatment or fireproof fibres. They are of apparel and non apparel type having various applications in end use industries such as industrial protective clothing, defence and fire fighting services, and transportation.
"Fire Resistant Fabrics Market (By Type: Apparel and Non Apparel; By Application: Industrial Protective Clothing, Defence and Fire Fighting Services, Transportation, and Other Applications; By Geography: North America, Europe, Asia-Pacific and RoW)Global Scenario, Market Size, Outlook, Trend and Forecast, 2015 – 2024"
Increasing flame-resistant cloth or material demandto drive the growth ofthe global fire resistant fabricsmarket
The factors supporting growth of the global global fire resistant fabrics market are increasing safety guidelines in developed and developing nations, increasing flame-resistant cloth or material demand for curtains or stage drapery used in public places, and rising fire hazards. However, high fabrics cost may act as a restraint for the growth of the market. Moreover, increasing safety and security regulations by government would provide several growth opportunities for the market in the future years.
Type, application, and geography are the major segments considered in the global fire resistant fabrics market. Type segment comprises apparel and non apparel. By, application, the market is bifurcated into industrial protective clothing, defence and fire fighting services, transportation, and other applications. By geography, the global fire resistant fabrics market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW).
Apparel accounted for the maximum market share in the type segment
Global Fire Resistant Fabrics Market, by Type
Apparel accounted for the major market share in 2016, in the type segment, and are expected to continue its dominance during the forecast period 2016 – 2024, owing to the increasing demand for protective clothing, and strict rules and standardizations relating to safety at the workplace.
Industrial protective clothingaccounted for the largest market share in the application segment
Global Fire Resistant Fabrics Market, by Application 2016 Vs 2024
Industrial protective clothing accounted for the largest market share in 2016, in the application segment, and are expected to continue its dominance during the forecast period 2016 – 2024, owing to developments in technologies and strict guidelines obligatory by the government coupled with high adoption of fire resistant fabrics in several end-user industries such as oil and gas, chemicals, and electrical, those are at a high risk of fire accidents.
Europe dominated the global market with highest market share over the forecast period
GLOBAL FIRE RESISTANT FABRICS MARKET SHARE BY GEOGRAPHY, 2016 (%)
Europe dominated the global fire resistant fabrics market with largest market share of 37.1% in 2016, and expected to continue its dominance during the forecasted period, owing to strict regulations established by the governments and high demand in the oil & gas industry in the region.
The major players operating in the market are Gun Ei Chemical Industry Co., Ltd., E.I. Dupont De Nemours and Company, Huntsman Corporation, Royal Tencate Corporate EMEA, PBI Performance Products, Inc., Solvay SA, Milliken & Company, W.L. Gore & Associates, Inc., Teijin Aramid, and Lenzing AG, among others.