29-Mar-2022 | Zion Market Research
The global fire resistant fabric market was worth around USD 3285.9 million in 2021 and is estimated to grow to about USD 4634.7 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.9 percent over the forecast period. The report analyzes the Fire resistant fabrics market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Fire resistant fabrics market.
Fire resistant fabrics are crucial to industrial safety equipment manufacturing and are highly important in fire safety protection especially. The focus on safety has substantially increased over the past few years and this trend is expected to be prevalent over the forecast period as well and drive Fire resistant fabrics market growth.
Fire resistant fabrics are used in industries where the risk of fire and explosions is high such as oil and gas, chemical, etc., and these are the main drivers for Fire resistant fabrics market. Increasing stringent regulations to bolster employee and worker safety in these hazardous environments by governments are expected to favor Fire resistant fabrics market growth potential through 2028
The high costs associated with the manufacturing and development of Fire resistant fabrics are expected to have a restraining effect on the Fire resistant fabrics market potential. This is expected to be prevalent over the forecast period and Fire resistant fabrics manufacturers are expected to focus on solving this over the course of time to ensure maximum revenue generation potential is attained.
Fire resistant fabric companies are focusing on investing in research and development to minimize the manufacturing costs of Fire resistant fabrics and are adopting various organic and inorganic growth strategies to boost their market presence on a global level.
The pandemic of 2020 majorly struck the industrial infrastructure and rendered multiple markets incurring huge losses of which the Fire resistant fabrics market was also affected. As infections enveloped the world, lockdowns were imposed on a global scale to contain the spread of the virus and this resulted in the closure of multiple industries which resulted in a drop in demand for industrial safety equipment.
The Fire resistant fabrics market is expected to rise at a steady pace in the post-pandemic era owing to rising industrial activity and increase in demand after the long lapse of the lockdown restriction in 2020 and early 2021.
The global fire resistant fabric market is segregated based on type, end use industry, application, and region. Based on end use industry, the fire resistant fabric market is segmented into industrial, defense & public safety services, transportation, railway, aerospace, marine, automotive, others. The industrial segment is the major end use application for Fire resistant fabrics companies and increasing stringent regulations for industrial safety implemented by multiple governments across the world is expected to bolster the Fire resistant fabrics market growth through 2028
The Fire resistant fabrics market in the Asia Pacific region will record exponential growth over the forecast period owing to rising investments in the industrial sector of this region and increasing stringent regulations. Owing to low operational costs and increasing support from governments to establish industries or verticals such as oil & gas, automotive, infrastructure, chemical, and steel the market in this region will see god growth opportunities. Rapid industrialization will be the most prominent trend in the global Fire resistant fabrics marketplace for the Asia Pacific. India and China are anticipated to be the most lucrative countries for Fire resistant fabrics market players through 2028.
Key players functioning in the global fire resistant fabric market include 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.), among others.
Browse the full “Fire Resistant Fabric Market By Type (Treated Fire resistant fabrics, Inherent Fire resistant fabrics), By Application (Apparel, Non-apparel), By End Use Industry (Industrial, Defense & Public Safety Services, Transportation, Railway, Aerospace, Marine, Automotive, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.” Report at https://www.zionmarketresearch.com/report/fire-resistant-fabric-market
The global fire resistant fabric market is segmented as follows:
By End Use Industry
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