September 21, 2023 04:48 ET | Source: Research and Markets Research and Markets
Dublin, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Fire-Resistant Fabrics Market by Type (Treated, Inherent), Application (Apparel, Non-apparel), End-use Industry (Industrial, Defense & Public Safety Services, Transport), and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering. 86*48/12+12*12+12 Flame Retardant Fabric
The global fire-resistant fabrics market is poised for substantial growth, projected to increase from USD 3.5 billion in 2023 to USD 4.9 billion by 2028, reflecting a robust CAGR of 6.6%.
This comprehensive study delves into crucial market dynamics, including drivers, restraints, opportunities, and challenges that significantly influence the fire-resistant fabrics market. The report offers an in-depth analysis of major industry players, providing insights into their business operations, services, strategic initiatives, partnerships, contracts, mergers and acquisitions, product launches, and recent market developments.
Fire-resistant fabrics serve as critical components in personal protective equipment (PPE) across various sectors like defense, law enforcement, firefighting, as well as in hazardous environments such as chemical, construction, and oil & gas industries. Furthermore, these fabrics have versatile applications in transportation, household & industrial furniture, roofing, and flooring materials.
The Asia-Pacific region, driven by its growing population and the increasing disposable income of the middle-class demographic, stands out as a significant driver of the fire-resistant fabrics market. Countries like China and India offer substantial growth potential for fire-resistant fabrics as consumers in the region seek to embrace Western fashion trends.
Many fire-resistant fabric brands have relocated their manufacturing facilities to countries like China, India, Bangladesh, and Cambodia, benefiting from the availability of raw materials and cost-effective labor. Consequently, Asia-Pacific claimed the largest market share in the fire-resistant fabrics market in 2022.
Key industry players in this market include DuPont de Nemours, Inc., Teijin Ltd., Royal TenCate N.V., Kaneka Corporation, and PBI Performance Products Inc., among others, shaping the competitive landscape and driving innovations in fire-resistant fabrics.
Treated segment is expected to be the largest market in the fire-resistant fabrics market
The prevalence of treated segment is mostly a result of their lower cost as compared to naturally occurring fabrics. The market for treated segment is also being driven by the high level of comfort that treated fabrics offer in apparel applications.
According to estimates, China and India will dominate the market for cotton fibers used in treated fire-resistant fabrics. The main factor driving the market is the rise in cotton fiber output in the Asia-Pacific area. The building and construction sector in the area makes extensive use of fabrics that are fire resistant.
Due to the rising need for protective gear in the building and construction, as well as oil and gas sectors, the Middle East and Africa represent promising markets for treated fire-resistant fabrics. Moreover, the inherent segment is projected to be the fastest growing market in fire-resistant fabrics during the forecast period.
Apparel segment is projected to be the fastest growing market in the fire-resistant fabrics
Increased acceptance of contemporary technology, inventions, easy access to affordable land, low-cost labor, and the region's expanding population have all contributed to a rise in foreign investment and a boom in apparel applications.
Additionally, the expansion of sectors including the automotive, chemical, construction, infrastructure, mining, energy, and healthcare is boosting demand for textiles and safety equipment, which is propelling the use of protective fabrics and materials that resist fire.
Industrial segment is expected to be the largest market in the fire-resistant fabrics market
Government rules regarding the use of fire-resistant fabrics in various end-use sectors, particularly in the oil & gas and chemical industries, are a major driver of the demand for fire-resistant fabrics in the industrial end-use segment. Throughout the forecast period, the industrial sector is expected to maintain its dominance in the market for fire-resistant fabrics.
Trends/Disruptions Impacting Customer Business
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