The global fire-resistant fabrics market stood at $3,950.6 million, and it is projected to demonstrate a CAGR of 5.2% during the forecast period (2016–2022). Some of the major reasons for the growth of the market include increase in safety concerns, stringent safety regulations, rapid growth of industrialization, and increase in usage of fire-resistant cloths in residential and commercial furnishings. With the continuous research and development (R&D) for safer industrial protective clothing, the demand for flame-resistant fabrics is expected to increase in the coming years, according to the study published by P&S Intelligence
With the increase in safety norms in emerging and developed nations, the demand for fire-resistant fabrics is expected to increase. Safety concerns for industrial workers is of top-most importance, and therefore, with the implementation of government stringent safety regulatory guidelines, industries are adopting fire-resistant cloths. Industrial standards and regulations, including the National Fire Protection Association (NFPA) and occupational safety and health standards (OSHA) regulations, have set codes, such as NFPA 70E and NFPA 2112, for worker safety. These codes have significantly contributed toward the growth of the fire-resistant fabrics market.
Based on application, the industrial protective clothing category dominated the fire-resistant fabrics market in 2015. The category is also projected to witness the highest growth during the forecast period. Whereas, transportation application of the fabrics is also significantly contributing to the market growth.
Geographically, Europe held the largest share, of 37.1%, in the fire-resistant fabrics market, with revenue of $1,466.5 million in 2015. The market is expected to demonstrate a CAGR of 5.0% during the forecast period. This growth can be attributed to the increasing usage of fire-resistant fabrics in industries, due to implementation of stringent safety norms.
Some leading players in the global fire-resistant fabrics market include Kaneka Corporation (Japan), Solvay S.A., E.I DuPont de Nemours & Co., Huntsman Corporation, Lenzing AG, Royal TenCate N.V., Glen Raven Technical Fabrics LLC, Teijin Ltd., W.L. Gore & Associates Inc., Westex, Gun Ei Chemical Industry Co. Ltd., and PBI Performance Products Inc.
FIRE-RESISTANT FABRICS MARKET SEGMENTATION