Kenneth Research has recently added a report titled Fire Resistant Fabrics market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021-2024. Fire Resistant Fabrics market is further anticipated to grow with a CAGR of 6.3% during the forecast period. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
As per the latest report published by Variant Market Research, Global Fire Resistant Fabrics Market is estimated to reach $6,729 million by 2024; growing at a CAGR of 6.3% from 2016 to 2024. Fire resistant fabrics are mostly fabrics that are more fire retardant than other fabrics due to its chemical treatment or completely manufactured fireproof fabrics. Fire resistant fabrics are materials or cloths resistant to fire and have wide range of applications such as industrial protective clothing, defence and fire fighting services, transportation, and other applications. Wide use of fire resistant fabrics in work wear and fire fighting uniform for reducing fire hazards is expected to boost the market growth over forecasted period. Rising safety guidelines in developed & developing countries is predicted to enhance fire resistant fabrics market in the future years.
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Major factors driving the global fire resistant fabrics market are increasing flame resistant material demand for stage drapery or curtains used in public spaces, growing safety regulations in developed and developing nations, increasing fire hazards in various industries such as pulp and paper industry and food processing and paint industry, among others. However, lack of awareness and fabrics cost may hamper the market growth. Furthermore, rising safety and security guidelines by government would unfold with numerous growth opportunities in the forecasted years.
Major segments in the global fire resistant fabrics market are type, application, and geography. Type segment comprises apparel and non apparel. By application, the market is categorized as industrial protective clothing, defence and fire fighting services, transportation, and other applications. Further, railways, aerospace, automotive, and marine are sub segments of transportation segment.
Geographically, global fire resistant fabrics market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe segment consist of Germany, France, Spain, UK, and Rest of Europe. Asia-Pacific is segmented into China, Japan, India, and Rest of Asia- Pacific, while RoW is bifurcated into South America, Middle East, and Africa.
The major market players in the market are PBI Performance Products, Inc., E.I. Dupont De Nemours and Company, Huntsman Corporation, Royal Tencate Corporate EMEA, Gun Ei Chemical Industry Co., Ltd., Solvay SA, Milliken & Company, Lenzing AG, and Teijin Aramid, W.L. Gore & Associates, Inc., among others.
The key takeaways from the report:
The report will provide detailed analysis of Fire Resistant Fabrics Market with respect to major segments such as type, and application
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024
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Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Fire Resistant Fabrics Market has been included in the report
Profile of the key players in the Fire Resistant Fabrics Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Fire Resistant Fabrics Market
Industrial Protective Clothing
Defence and Fire Fighting Services
Rest of Europe
Rest of Asia-Pacific
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