Flame resistant and retardant fabric market has surpassed a volume of 100 million in 2018 in Asia Pacific, finds a new study by Fact.MR. Owing to rapid industrialization in the country, China remains a forefront of the market in this region. Moreover, China holds 60% of the volume share of the Asia Pacific flame resistant and retardant fabric market. According to latest market intelligence, China flame resistant and retardant fabric market is expected to worth over US$ 900 Mn, expanding at an impressive rate from 2017 to 2026. Further, stringent regulations on workers’ protection and industrial safety has been the driving the growth flame resistant and retardant fabric market in the Asia Pacific.
Fact.MR’s study forecasts the application of flame resistant and retardant fabric to remain dominant in industrial protective clothing both in terms of value and volume. With high demand for protective clothing among naval & armed forces, fire fighters, and miners, flame resistant and retardant fabric is expected to witness increasing adoption in law enforcement services. The Fact.MR’s research also foresees a growing requirement of this fabric in transport, hot gas filtration, healthcare, hospitality, corporate, and home furnishing sectors of the Asia Pacific Region.
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As flame resistant and retardant fabric imparts high degree of protection and reduces severity of injuries from thermal exposure, it has gained wide popularity among various industries. With increasing oil & gas exploration activities in several regions of Asia Pacific, the demand for retardant fabric is likely to be consolidated in this industry. Furthermore, increasing adoption in packaging and marine industries is expected to complement the growth of Asia Pacific flame resistant and retardant fabric market.
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According to research study by Fact.MR, the global flame resistant and retardant fabric is estimated to expand at a significant CAGR of 7.3% during the forecast period, 2017-2026. With well-established transportation and automotive industry, Europe is expected to dominate other regional market with highest revenue share. Although Fact.MR focuses on the positive outlook of the market, several challenges will pose as an obstacle to the growth of global flame resistant and retardant market. High cost of the flame resistant fabric and decline in the global rig count will possibly hamper the market growth in the near future. On the other hand, development of novel products and incorporation of advanced technology in manufacturing retardant fabric will be key trends emerging in global flame resistant and retardant fabric market.
The Fact.MR report highlights detailed profiles of the leading key players participating in the global flame resistant and retardant market. Some of them include PBI Performance Products, Inc., Evonik Industries, Koninklijke Ten Cate nv (TenCate), Teijin Aramid B.V., Solvay S.A, and Other Public and Private Players.
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