The Flame Resistant Fabrics Market Research Report Forecast 2018-2024 is a valuable source of insightful data for business strategists. It provides the Flame Resistant Fabrics Market overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable).
The research analysts provide an elaborate description of the value chain and its distributor analysis.Global Flame Resistant Fabric Market size will likely surpass USD 6 billion by 2024; according to a new research report by Global Market Insights, Inc.
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Considering the deployment of flame retardant fabrics across myriad end-use domains, flame resistant fabrics market is expected to penetrate majority of the geographies worldwide. Nonetheless, given that governmental initiatives playing a crucial role, it is indisputable that APAC will hold a stronger command in the global flame resistant fabrics industry.
Rising investments in the major end-use domains along with a strict regulatory frame of reference with regards to workers safety and protection have enlarged the business opportunity in this belt. Trailed by APAC, Latin America is another prominent region where the growth prospect of flame resistant fabrics industry is forecast to be positively high.
Speaking of the product landscape, while inherent flame retardant apparels have been chronicled to be the most consumed product, the other two categories such as hybrid and treated fabric have also observed a significant push lately. In fact, hybrid flame resistant fabrics market is claimed to record a CAGR of 6% over 2017-2024. A major credit to this shift in market trend can be credited to the incessant efforts undertaken by the renowned biggies to upgrade their product range and diversify their business portfolio.
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Citing a latest instance, Matrix World Group, the Chile based flame resistant fabrics market giant, has recently made its foray in treated fabric business with the launch of its first-ever product line of treated flame resistant clothing. Experts claim, MWG’s announcement of expanding the product range comes on the heels of the latest collaboration with Mount Vernon FR, as this absolutely fresh of the boat collection would be mainly manufactured using the latter’s fabric. For the record, until recently, Matrix World Group’s primary focus has always been on high-quality inherent flame resistant fabrics.
Asia Pacific region holds a potential market share in 2016 and is set to surpass USD 1.5 billion by the end of forecast timeframe. Rising investments by the end-user industry and strict government regulation for protecting employees will drive the market for China, Japan and India. Further, Latin America and Middle East & Africa is likely to witness positive growth owing to increasing demand from end-user industries over forecast timeframe. Europe accounts for highest volume consumption with more than 22% of overall market revenue.
Some of the other biggies involved in flame resistant fabrics industry include Huntsman International LLC, Milliken & Company, LENZING AG, Solvay, and Evonik Industries. These players have been depicting high interest in research activities to come up with innovative products for workers safety. However, fluctuations in raw material price trends and increased price of woven and silk materials are hindering the business proliferation to some extent.
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Nonetheless, with increasing governmental initiative toward workplace safety and labor protection, the end-use landscape of flame resistant fabrics industry is sure to widen over the ensuing years. In terms of revenue, Global Market Insights, Inc. forecasts the overall business space to exceed a valuation of USD 6 billion by 2024.