Fame Resistant Fabrics Market Value to Reach US$ 10.3 Bn by 2031: TMR Study
WILMINGTON, DE / ACCESSWIRE / December 12, 2022 / Transparency Market Research Inc. - The Fame Resistant Fabrics Market is projected to expand at a CAGR of 6.8% from 2021 and 2031, states a research report by Transparency Market Research (TMR).
The usage of industrial protective clothing is rising across varied industry verticals owing to their ability to work as a barrier between fire and skin. These clothing hold the capability to offer protection to an individual from high temperatures and flames. Adoption of the product is increasing across various applications such as law enforcement & firefighting services, home furnishing, and industrial protective clothing. It is widely utilized in the defense, oil & gas, and transport industries. Thus, the extensive application presents significant prospects for growth of the global Fire Resistant Fabrics Market in the next few years.
Key Findings -
The oil & gas industry faces a high risk of fire hazards. Workers in this industry are required to wear clothing manufactured using fabric that can provide them protection from fire and flame in case of accidents. Hence, an increase in the number of oil & gas projects is anticipated to drive market expansion.
The defense industry is susceptible to critical risks of fire outbreaks. Therefore, the usage of fire-resistant fabrics is mandatory as they assist in safeguarding employees working in this sector. Hence, the market is anticipated to gain significant demand opportunities from the defense industry in the near future, states the research report by TMR.
In the transport industry, flame-resistant fabrics are utilized during the construction of aircraft, automobiles, metros, and railways. Hence, an increase in preference for reliable transportation facilities including rail networks, railways, and metro across emerging economies is likely to create demand for flame-resistant fabrics.
Governments of several developed and developing countries are implementing stringent regulations that focus on the safety of workers. This factor is fueling business opportunities in the global Fame Resistant Fabrics Market.
The production cost of flame-resistant fabrics is high. Nevertheless, companies are taking initiatives to spread awareness pertaining to the advantages of flame-resistant fabrics including worker safety and their ability to help companies in adhering to occupational safety standards established by governments of major countries worldwide. These initiatives are likely to lead to sales growth in the market in the next few years.
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Regional Analysis -
Europe is projected to hold a leading share of the global Fame Resistant Fabrics Market. Growth of the Europe market is attributed to an increase in the use of flame-resistant fabrics in the regional transportation industry, states the TMR report that delivers key information on the global market trends.
Players are expected to gain sizable business opportunities in Asia Pacific during the forecast period, ascribed to the development of various industrial sectors in several developing countries in the region
Competition Landscape -
Players are using strategies of joint ventures, mergers, and collaborations in order to expand their businesses in the Fame Resistant Fabrics Market
Several manufacturers are focusing on R&D activities to develop innovative products
Key Players -
The leading players profiled in the report are:
Evonik Industries AG
DuPont
Huntsman International LLC
Lenzing AG
Kaneka Corporation
PBI Performance Products
Milliken & Company
Koninklijke Ten Cate nv (TenCate)
Solvay
Teijin Aramid
Toyobo Co., Ltd
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Flame Resistant Fabrics Market Segmentation -
Application
Industrial Protective Clothing
Law Enforcement & Firefighting Services
Transport
Others (Defense, Mining, etc.)
Regions Covered
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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