Welding safety to help global FR fabric market reach projected $4.87 billion by 2020
A new report released in December, 2014 projected the global flame resistant fabric market to be valued at $3.12 billion in 2013 and is anticipated to reach $4.87 billion by 2020.
Browse the full Report of Flame Resistant Fabrics Market at : www.transparencymarketresearch.com/flame-resistant-fabrics.html
Implementation of government regulations related to the use of flame resistant wear in different industries, especially in oil & gas and chemical industries, is the primary driver for the global demand for flame resistant fabrics. Safety of workers in these industries is a major concern due to the high risk of fire accidents. Along with industrial wear, firefighting services and defense services that require flame resistant properties in their uniforms are the major users of flame resistant fabrics. However, lack of awareness coupled with high cost of these products is projected to hamper market growth. Emerging economies are likely to be the significant users of flame resistant fabrics in the near future. These economies are witnessing substantial growth in end-use industries.
Key application sectors for flame resistant fabrics include industrial protective clothing, law enforcement and firefighting services, transport, and others such as home and institutional furnishings.
Industrial protective clothing was a major application for flame resistant fabrics, accounting for about 53% of the global demand in 2013.
Growth in chemical and oil & gas sectors is the key driver for development of the flame resistant fabrics market, especially in emerging economies.
Additionally, adoption of safety regulations similar to that in developed economies is expected to fuel demand for flame resistant fabrics in these sectors.
The transport sector is a segment anticipated to drive the flame resistant fabrics market in the next few years due to increasing usage of high performance fabrics in automobile, aircraft and railways. Others application that includes home and institutional furnishings is expected to experience moderate growth in the near future; however, it is likely to lose market share to growing segments.
The flame resistant fabrics market in developed regions such as North America and Europe is well established. Europe accounted for a share of more than 35% in 2013. The flame resistant fabrics market is anticipated to experience moderate growth during the forecast period from 2014 to 2020. Asia Pacific is expected to be the second-fastest growing market during the forecast period. The region is estimated to experience significant growth in industries such as oil & gas and chemical, and is likely to account for a healthy share of the global flame resistant fabrics market by 2020. Rest of the World is projected to be the fastest growing region during the forecast period due to rising adoption of flame resistant fabrics in various sectors.