Flame Resistant Fabric Market Growth Forecast, 2019 – 2024
Global Flame Resistant Fabric
Market size will likely surpass USD 6 billion by 2024; according to a new
research report by Global Market Insights, Inc. Increasing demand for flame
resistant fabric owing to government stringent regulation controlling and maintaining
safety at workplace for labors will propel market growth. Greater participation
of industries for maintaining safe working environment and growing social
responsibility among employees regarding safety is propelling the demand for
flame resistant fabric.
In 2016, Asia Pacific has become
of the leading region due to increasing industrialization in emerging countries
which will positively affect the market. Increasing automobile, construction,
oil & gas industries in the emerging countries, owing to government
investment initiative in these sectors will positively influence the growth of
global flame resistant fabric market over the coming years.
Rising cost of R&D for
developing advance technologies is hindering market growth over the forecast
period. Further variation in raw material prices and increase in prices of
woven and silk material is likely to restrain the market growth.
Hybrid product segment will grow
at a CAGR of around 6% over the coming years. This segment is rapidly growing
in end-user industry due to its light weight and cost-efficient properties. It
is manufactured by different fibers like carbon fiber and aramid yarns.
Moreover, inherent segment is likely to grow in term of volume owing to its
durable properties and wide application in end-user industries.
Browse Complete Summary of this
report @ https://www.gminsights.com/industry-analysis/flame-resistant-fabrics-market
Transportation sector is growing
with a CAGR of around 6.5% and is likely to increase owing to government
investment initiative and foreign investment in construction of better
railways, metro and road network in emerging countries. Other than this
industrial segment is also growing in term of volume due to increasing
industrialization and urbanization in Asia Pacific and Africa.
Asia Pacific region holds a
potential market share in 2016 and is set to surpass USD 1.5 billion by the end
of forecast timeframe. Rising investments by the end-user industry and strict
government regulation for protecting employees will drive the market for China,
Japan and India. Further, Latin America and Middle East & Africa is likely
to witness positive growth owing to increasing demand from end-user industries
over forecast timeframe. Europe accounts for highest volume consumption with
more than 22% of overall market revenue.
Prominent players present in flame
resistant fabric market are TOYOBO CO., LTD., LENZING AG, Huntsman
International, Evonik Industries., DuPont, Koninklijke Ten Cate nv, Solvay,
Milliken & Company, Teijin Aramid B.V. and others.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in
Delaware, U.S., is a global market research and consulting service provider;
offering syndicated and custom research reports along with growth consulting
services. Our business intelligence and industry research reports offer clients
with penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
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Global Market Insights, Inc.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1 888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Connect with us twitter | LinkedIn | Facebook | Google+
Flame Resistant Fabric Market Growth Forecast, 2019 – 2024
Reviewed by GMI
on
November 11, 2019
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