Flame Resistant Fabrics Market to reap substantial benefits from transport sector, APAC to drive the regional landscape
Publisher : Fractovia | Published Date : 2017-11-22Request Sample
Profoundly claimed to be one of the biggest breakthroughs in flame resistant fabrics market of recent times, Carrington Textiles is on its way to launch an innovative flame retardant product, Flametech 300AS at the A+A trade fair, in Germany. A state-of-the-art version of the predecessor, Flamestat Satin 225 Pro2 and Flametougher 280AS, Flametech 300AS is reported to provide multifunctional protection to industrial workers against harsh environmental conditions. Another standout feature that might help the product garner a mass popularity in global flame resistant fabrics market is its availability in five different set of colors, including hi-vis orange and hi-vis red, in compliance with the latest EN20471 standards. Experts have already started raving about the product and are expecting the multi-color flame retardant workwear to disrupt the flame resistant fabrics industry.
Asia Pacific Flame Resistant Fabrics Market Size, 2013 – 2024 (USD Million)
Driven by the surging demand for flame resistant apparels across a plethora of end-use industries including transport, mining, construction, military, oil & gas, infrastructure, and construction sector, overall flame resistant fabrics market was pegged at USD 4 billion in the year 2016. The transport sector, unquestionably, is one of the prominent application arenas of flame resistant fabrics market. The increasing governmental as well as foreign investments with regards to the construction of road, metro, and railway network is certain to upscale the demand for these products.
Overall flame resistant fabrics industry from transportation application, as per estimates, is slated to witness a y-o-y growth of 6.5% over 2017-2024. `According to IBEF (India Brand Equity Foundation), the Indian Government has reserved almost 20% of its infrastructural investment of USD 1 trillion for road construction under the nation’s 12th Five-Year Plan (2012-2017). Furthermore, in the Union budget of 2017-2018, the regional government has allotted almost USD 9.55 billion to NHAI for highways and roads. The astounding investment in transport sector is depicting the application scope of flame resistant fabrics market in the country over the coming years.
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.
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.
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. 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.
