Pune, India, April 14, 2020 (GLOBE NEWSWIRE) --
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The global flame retardant protective wear market forecast will be $4,891.0 million by 2026, at a CAGR of 6.8%, and is increasing from $2,890.1 million in 2018, according to a new report published by Research Dive.
Drivers and Restraint in Flame-Retardant Protective Wear Market:
Stringent government regulations and growing workplace safety factors are driving the growth of the flame-retardant protective wear market, owing to rising demands from the end use industries for worker’s safety and comfort at work environment. The Occupational Safety and Health Administration (OSHA) in 2012, released a memo that demands all workforces in the oil & gas manufacturing to wear flame retardant protective wear to prevent injuries. The instruction by OSHA is predicted to increase the usage of flame-retardant protective wear. Increase in the technological improvements are projected to enhance the flame-retardant protective wear market growth in projected timeframe. The manufacturers are attempting to integrate longer-lasting capabilities and better assets into their fire-retardant materials. For commercial and residential furnishings, in the automotive & transportation industry, flame retardant protective wear is also needed to mitigate the incidence of ignition hazards. The flame-retardant protective wear market is restrained by cost volatility and availability of raw materials. This leads to high investments on R&D activities to minimize the production cost. Technical advancements and improvements in the current manufacturing process of flame retardant protective wear and rising workplace safety protocols are predicted to enhance the flame retardant protective wear market in the coming years. Manufacturers are accepting eco-friendly materials for the production of fire retardants to minimize expenditure on production.
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Global flame-retardant protective wear market is divided into material type, product type, clothing type and end-use.
Based on product type, the market is segmented into treated and inherent. Treated product type segment generated the highest market share and is projected to reach $3264.0 million in 2026. Inherent product type will experience noteworthy growth and is anticipated to grow at a 9.5% CAGR during the estimated time.
On the basis of material type, the market is divided into knitted, woven and non-woven. The non-woven type held the evident flame retardant protective wear market size in the 2018, and is expected to register $1,817.2 million in 2026, and growing at 5.5% CAGR in the projected timeframe. When the non-woven type is subjected to fire, it will minimize the distribution speed of the fire. Due to unique features of non-woven fabrics, the non-woven flame-retardants materials are widely used in households, automobiles and aircrafts for interior furnishing applications. These factors are projected to drive the growth of the market size in the coming time.
Based on clothing type, global flame retardant protective wear market is divided into durable clothing and disposable clothing. The market for durable clothing generated $2,129.1 million in 2018 and is expected to register a revenue of $3,404.9 million and at a 6.0% CAGR in the projected time period. The durable material provides protection from ignition and chemicals and displays higher strength; these factors are anticipated to raise the market growth during forecast period.
Based on end use, the oil & gas industry accounted for evident market size in the overall industry and is anticipated to account for $817.5 million in 2026 at a CAGR of 4.8% in the coming years. This is mainly due to extensive use of flame retardant protective wear in the oil & gas industry for protection from extreme temperatures and pressures. The flame retardant protective wear market for automotive & transportation sector is projected to account for $736.7 million by 2026, at a CAGR of 7.5% in the forecast period.
Regional Insights of Flame-Retardant Protective Wear Market:
The global market is dominated by Europe and is anticipated to continue its dominance during the forecast period. This is mainly due to various regulations executed in Europe for flame retardant protective wear for workplace safety. Asia-Pacific is projected to show a noteworthy growth rate, creating ample opportunities in the coming years.
Top 10 Companies in Flame-Retardant Protective Wear Market:
- Honeywell International Inc.
- DEVA F-M
- Koninklijke Ten Cate N.V.
- Fristads
- Bulwark FR
- Lakeland Industries Inc.
- Seyntex N.V
- National Safety Apparel
- Portwest Ltd.
- Marina Textil S.L.
These participants are adopting new strategies such as joint ventures, mergers & acquisitions and investments to raise their position in the global flame-retardant protective wear market. For example, in November 2019, the National Safety Apparel joined forces with HauteWork and announced the modernizing of flame-resistant clothing with more style, comfort and safety.