Published Date : Jun 24, 2016
Flame resistant fabrics are used in the manufacturing of apparels, furnishings, and garments, which are required by the oil and gas industries, healthcare organizations, military, and transportation sectors. The key players are offering a wide range of flame resistant fabrics that have flexibility in design, engineering, and cost. However, the fabrics need to be produced meeting all the government regulations. They are also used to produce protective clothing for the law enforcement agencies.
According to a report published by Transparency Market Research (TMR), the global flame resistant fabrics market which was valued at US$ 3.63 bn in 2015, is projected to reach US$ 6.56 bn by 2024, expanding at a CAGR of 6.8% from 2016 to 2024.
Europe Dominated Flame Resistant Fabrics Market in 2015
The demand for flame resistant fabrics was highest in Europe in 2015. Several regulations on garments and wall covering and upholstery applications are driving the market. Asia Pacific was the second largest segment regionally after Europe, in 2015, while North America was the third largest segment.
On the basis of application, the global flame resistant fabrics market is segmented into industrial protective clothing, law enforcement and firefighting services, and transport. Of these, the industrial protective clothing accounted for 50% of the global flame resistant fabrics market. Stringent industrial regulations for the protection of workers from occupational hazards are the reason behind the growth of the segment. Transport is expected to be the fastest growing segment.
Slowdown of Global Rig Count to Hamper Growth of Flame Resistant Fabrics Market
The global flame resistant fabrics market is driven by rising demand for protective clothing from the defense sector. The implementation of government regulations and test methods are also driving the global flame resistant fabrics market.
However, slowdown of global rig count across the world is expected to restrain the global flame resistant fabrics market. Lack of awareness about the safety regulations in Asia Pacific will also hamper the growth of the market.