Fire Resistant Fabrics Market Projected to Reach 5.27 Billion USD by 2021
The global fire resistant fabrics market is estimated to be valued at USD 4.07 Billion in 2016, and is projected to reach USD 5.27 Billion by 2021, at a CAGR of 5.3% during the forecast period.
The report "Fire Resistant Fabrics Market by Type (Treated (FR Cotton and FR Viscose), Inherent (Aramid and PBI)), Application (Apparel, Non-Apparel), End Use Industry (Industrial, Defense & Public Safety Services, Transportation) - Global Forecast to 2021", The global fire resistant fabrics market is estimated to be valued at USD 4.07 Billion in 2016 and is projected to grow at a CAGR of 5.3% to reach USD 5.27 Billion by 2021.
Browse 101 market data tables and 61 figures spread through 147 pages and in-depth TOC on “Fire Resistant Fabrics Market - Global Forecast to 2021”
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Stringent regulations and standardizations pertaining to safety at the workplace is expected to drive the global fire resistant fabrics market
Inherent fire resistant fabrics to register the highest CAGR in the global fire resistant fabrics market from 2016 to 2021
The global fire resistant fabrics market is segmented by type, namely, treated (FR Cotton, FR Viscose, FR Polyester, and FR Nylon 6) and inherent (Aramid, PBI, PI, Modacrylic, and Polyamide). The market for inherent fire resistant fabrics is expected to grow at the highest CAGR in the global fire resistant fabrics market from 2016 to 2021. The higher CAGR for inherent fire resistant fabrics over other types is due to increased demand for high performance fire resistant fabrics from developed regions.
Apparel to be the fastest growing application of the global fire resistant fabrics market during the forecast period
Apparel is projected to be the fastest growing application in the global fire resistant fabrics market during the forecast period. This high growth is mainly due to the increasing demand from various end-use industries such as oil & gas, construction & manufacturing, mining, and chemicals. Fire resistant fabrics in apparel are used for the production of protective clothing that offer protection from direct exposure to fire, explosion, or arc fire. The demand for fire resistant fabrics in the apparel application is projected to witness the highest CAGR in the South American region due to the high industrial growth.
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Industrial to be the fastest growing end-use industry of the global fire resistant fabrics market during the forecast period
The demand for fire resistant fabrics is the highest in the industrial segment due to the implementation of government regulations related to the use of fire resistant apparel in different industries, especially in oil & gas and chemical industries. The industrial segment is subdivided into major end-use industries such as, construction & manufacturing, oil & gas, and others including chemical, and mining.
South America to be the fastest growing market for fire resistant fabrics during the forecast period
The South American fire resistant fabrics market is expected to witness the highest CAGR during the forecast period. The increasing industrialization and concern towards safety at the workplace is one of the major drivers of the market in this region. In addition to this, the growing economic and infrastructural development in Brazil is projected to continue in the coming years, which has further contributed to the overall growth of the fire resistant fabrics market in South America.
Currently, the global fire resistant fabrics market is led by various market players such as, E.I. DuPont De Nemours and Company (U.S.), Kaneka Corporation (Japan), PBI Performance Products Inc. (U.S.), Royal TenCate N.V. (Netherlands), Teijin Ltd. (Japan), Westex By Milliken (U.S.), Gun EI Chemical Industry Co., Ltd. (Japan), Huntsman Corporation (U.S.), Lenzing AG (Austria), Solvay S.A. (Belgium), W. L. Gore Associates Inc. (U.S.), and others.
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Jan 03, 2017