NEWARK, Del, May 31, 2023 (GLOBE NEWSWIRE) -- The global fire-resistant fabrics market size is likely to be valued at US$ 3.3 billion in 2023. The increasing application in the oil & gas industry is driving the market growth. The market is estimated to garner US$ 6.1 billion in 2033, recording a CAGR of 6.3% from 2023 to 2033
The demand for fire-resistant fabrics is increasing in the industrial sector due to stricter safety regulations, growing awareness about fire hazards, and the need for improved worker safety. Fire-resistant fabrics are designed to provide protection by limiting the ignition and spread of flames, reducing heat transfer, and minimizing the risk of burn injuries.
Increasing government stringent safety regulations across various industries, such as oil and gas, construction, and manufacturing are expected to positively impact the fire-resistant fabrics market growth.
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Increased awareness about the risks and hazards associated with fires in both industrial and non-industrial settings. This heightened awareness has led to a greater emphasis on fire safety measures, including the use of fire-resistant fabrics. Fire-resistant fabrics are used in personal protection, furnishing, transportation, and other applications.
Increasing the application of fire-resistant apparel in high-risk activities, such as oil and gas exploration, mining, and chemical processing, favors the growth of the market. Industries and individuals are increasingly prioritizing fire safety to protect lives and property, driving the demand for these fabrics.
North America is expected to witness significant growth in fire resistant fabrics market during the forecast period owing to the presence of stringent safety regulations, in industrial sectors to focus on worker safety. The ongoing technological innovation is the key factor contributing to the steady growth and development of the fire-resistant fabrics market in North America.
Robust demand from manufacturing in the Asia Pacific contributes to the growth of the fire-resistant fabrics market. Increased industrialization in developing economies like China & India is expected to boost market growth during the forecast period.
Key Takeaways from the Market Study
- From 2018 to 2022, the market demand expanded at a CAGR of 8.0%
- Based on type, the treated segment accounts for a CAGR of 6.2%
- By application, the apparel segment is expected to expand at a CAGR of 6.0% during the forecast period
- North America to emerge as a promising market, capturing a CAGR of 6.2%
- Asia Pacific is an opportunistic market, expected to capture a CAGR of 6.2% during the forecast period.
“Growing technological innovation and increased awareness in the industrial sector are expected to drive the market in the forecast period. The increasing demand from defense & public safety services sector globally is projected to play a vital role in strengthening the market”.
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Competitive landscape
Prominent players in the fire-resistant fabrics market are DuPont de Nemours, Inc.; Arvind Ltd.; Draper Knitting Company; BGF Industries, Inc.; Agru America, Inc.;
among others.
- Solvay S.A. a global chemical company produces a range of specialty polymers and fibers, including fire-resistant fabrics. Their fire-resistant fabric brand, Rhovea®, offers high thermal protection and flame resistance. It finds applications in personal protective equipment (PPE) for firefighters, military personnel, and industrial workers.
- Milliken & Company is a diversified industrial manufacturer that produces a wide range of textiles, including fire-resistant fabrics. They offer various fire-resistant fabric solutions that provide thermal protection and meet industry standards for flame resistance. Their fabrics are used in industries such as oil and gas, welding, and firefighting.
Know More about What the Fire Resistant Fabrics Market Report Covers
Future Market Insights offers an unbiased analysis of the global fire-resistant fabrics market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the fire-resistant fabrics market, the market is segmented based on type, end-use, and application across five major regions.
Key Segments Covered in the Fire Resistant Fabrics Industry Analysis
By Type:
- Treated
- Inherent
By Application:
- Apparel
- Non-Apparel
By End-Use:
- Industrial
- Defense & public safety Services
- Transportation
- Others
By Region:
- North American
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Meter) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Meter) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) & Volume (Meter) Analysis By Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) & Volume (Meter) Analysis and Forecast By Type, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) & Volume (Meter) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) & Volume (Meter) Analysis and Forecast By Application, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17311
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