Global Fire Resistant Fabrics Market is Estimated to Reach $8 Billion by 2025, Says Accurize Market Research
Global Fire Resistant Fabrics Market report published by Accurize Market Research forecast that the global market is expected to reach $8 billion by 2025; growing at a CAGR of 6.1% from 2017 to 2025. By geography, Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Increasing flame-resistant material demand to drive the market
Major factors driving the growth of the global fire resistant fabrics market are increasing safety guidelines in emerging nations, rising demand of flame-resistant material demand for curtains or stage drapery used in public places, and rising fire hazards. However, high fabrics cost may act as a restraint for the growth of the market. Moreover, increasing safety and security regulations by government would provide several growth opportunities for the market in the future years.
Fire Resistant Fabrics market is segregated based on the type, caliber, application and geography. The type segment is divided into full metal jacketed, tracer, incendiary, armour piercing and others. Caliber can be segmented into small caliber, medium caliber, mortar fire resistant fabrics, artillery fire resistant fabrics and shotgun shells. Application segment is bifurcated into military, law enforcement and commercial.
By geography the market is segmented into North America, Europe, Asia-Pacific and rest of the world (RoW). The U.S., Canada and Mexico are countries under North America wherein Europe covers Russia, U.K., Germany, France, Italy and Rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.
"Apparel accounted for the largest market share in the type segment", says Accurize
Apparel accounted for the major market share in 2017, in the type segment, and is expected to continue its dominance during the forecast period, owing to the increasing demand for protective clothing, and strict rules and standardizations relating to safety at the workplace. Whereas, industrial protective clothing accounted for the largest market share in 2017, in the application, owing to developments in technologies and strict guidelines by the government.
"Europe dominated the global market with the highest market share over the forecast period", says Accurize
Europe dominated the global fire resistant fabrics market with largest market share of 37.1% in 2017, and expected to continue its dominance during the forecast period, owing to strict regulations established by the governments and high demand in the oil & gas industry in the region.
Top players in the market
Major companies operating in the market are Gun Ei Chemical Industry Co., Ltd., E.I. Dupont De Nemours and Company, Huntsman Corporation, Royal Tencate Corporate EMEA, PBI Performance Products, Inc., Solvay SA, Milliken & Company, W.L. Gore & Associates, Inc., Teijin Aramid, and Lenzing AG, among others.
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