(MENAFN- America News Hour) Research Nester published a report titled
“Flame Resistant Fabrics Market: Global Demand Analysis & Opportunity Outlook 2031”
which delivers detailed overview of the global scouring agent market in terms of market segmentation by type, application, end-use industry and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global flame resistant fabrics market is anticipated to grow with a CAGR of ~6% during the forecast period, i.e. 2022-2031. The market is segmented by end-use industry into industrial, oil & gas, building & construction, defense & public safety services, and transportation. Out of these, the oil & gas segment is anticipated to garner the highest revenue by 2031, owing to the expansion of oil and gas industry.
The recent estimates calculated the revenue generation by the United States' oil and gas industry to be about USD 110 billion in 2020, an increase from 2016 with USD 100 billion.
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The global flame resistant fabrics market is estimated to garner a notable revenue by the end of 2031. Flame resistant fabrics are flame-resistant that are manufactured in the making of apparel, furnishings, and clothing for usage in various businesses. Flame resistant fabrics are employed extensively in sectors such as chemicals, military, building & infrastructure, and oil & gas, as they help safeguard workers from any fire-related accidents. These materials are utilized as fire buffers and are made into protective garments to shield employees from overt and secondary fire and electric arc exposure. Extensive use of flame resistant fabrics in several end-use sectors is estimated to boost the global flame resistant fabrics market in the next few years.
Geographically, the global flame resistant fabrics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific region is estimated to garner the largest market share by the end of 2031, on the back of increasing demand of textile fabrics and the presence of the major textile manufacturing companies. Also, the export and import value of textile in APAC region along with the employment of population in garment sector are another growth factors of the market. Another growth factors includes the high investments in research and development actives, GDP growth and high disposable income.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players' competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Rise in Structure Fires to Drive the Market Growth
These fabrics are increasingly being used in various applications due to rise in structure fires and deaths due to it. Moreover, the improvement in technologies and implementation of stringent regulations have made the flame resistant fabrics a preferred choice in various industries such as chemical, oil & gas and electrical, wherein exposure to fire and risk of fire accidents is high. These factors are estimated to bolster the flame resistant fabrics market to grow at a healthy rate. Additionally, the high utilization of flame resistant fabrics market is anticipated to primarily triggered by growing demand from end-use industries including chemicals, construction, and oil & gas.
However, increased production cost coupled with high cost of raw materials and complex level of production technology is expected to operate as key restraint to the growth of the global flame resistant fabrics market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global flame resistant fabrics market which includes company profiling of DuPont de Nemours, Inc., Evonik Industries AG, Huntsman International LLC, Kaneka Corporation, Lenzing AG, Milliken & Company Group, PBI Performance Products, Inc., Solvay SA, Toyobo Co., Ltd., Teijin Aramid BV and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global flame resistant fabrics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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