The global fire resistant fabrics market was valued at $3,950.8 million in 2015, and it is expected to grow at a CAGR of 5.2% during 2016 - 2022. The factors driving the growth of the global market include increased concern for safety and stringent safety regulations, rapid industrialization, and increasing flame resistant fabrics utilization in home and commercial furnishing. Additionally, the continuously evolving demand for more comfortable and safer industrial protective clothing, along with continuous research and development for new product innovation is expected to propel the demand for fire resistant fabric.
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The increasing safety regulations in developing as well as developed countries are projected to boost the growth of the fire resistant fabrics market. The safety concerns of workers in industries is of top-most priority, by setting up strict safety regulatory guidelines, government and regular authorities are taking care of it. Industrial regulations and standards such as OSHA (occupational safety and health standards) and NFPA (national fire protection association) regulations have set some codes, such as NFPA 70E and NFPA 2112 have contributed a lot towards the growth of the fire resistant fabrics market. These regulations and standards have also set a trend that regulatory agencies in South America and Asia-Pacific are following them, which will drive the demand for fire resistant fabrics additionally.
In 2015, Europe held the largest share (37.1%) in the global fire resistant fabrics market with a market size of $1,466.5 million. The fire resistant fabrics market in the region is anticipated to witness growth at a CAGR of 5.0% during the forecast period. The major reasons behind the growth of the fire resistant fabrics market in the region include stringent safety norms and increased use of fire resistant fabrics in commercial spaces.
Among the various applications, the industrial protective clothing segment held the largest share in the global market in 2015, and it also expected to witness the fastest growth during 2016-2022. The transportation application segment is emerging out as the major contributor in the global fire resistant fabrics market.
The information and data in the publication “Global Fire Resistant Fabrics Market Size, Share, Development, Growth and Demand Forecast to 2022”, represents the research and analysis of data from various primary and secondary sources. An amalgamation of bottom-up and top-down has been used to calculate the market size. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Some of the major companies operating in the global fire resistant fabric market include E.I DuPont de Nemours & Co., Westex, Royal TenCate N.V., Kaneka Corporation (Japan), Solvay S.A., Teijin Ltd., PBI Performance Products Inc., Glen Raven Technical Fabrics LLC, Gun Ei Chemical Industry Co. Ltd., Huntsman Corporation, Lenzing AG, W.L. Gore & Associates Inc.
GLOBAL FIRE RESISTANT FABRICS MARKET SEGMENTATION
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