Fire Resistant Fabric Market worth $5,036.2 Million by 2020

Categories:Industry news
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Time of issue:2017-03-03 00:00
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(Summary description)

Fire Resistant Fabric Market worth $5,036.2 Million by 2020

(Summary description)

Categories:Industry news
Author:
Origin:
Time of issue:2017-03-03 00:00
Views:

Information

The report, "Fire Resistant Fabric Market by Type (Apparel & Non-Apparel) and Application (Industrial Protective Clothing, Defense & Public Safety Services, Transport - Railways, Aircraft, Automotive, Marine) - Global Trends & Forecasts to 2020", published by MarketsandMarkets, The demand for Fire Resistant Fabrics is projected to be $5,036.2 Million by 2020 from $3,869.6 Million in 2015 at a CAGR of 5.4%.

Here is some views in the report

"South America projected to have the highest growth in the fire resistant fabrics market"

Europe is the largest market for fire resistant fabrics followed by North America. The market in these regions is driven by the stringent regulations and standards set by agencies such as The Occupational Health & Safety Administration (OSHA) and the National Fire Protection Association (NFPA). South America is estimated to register the highest growth between 2015 and 2020 due to the rising industrial base in the region led by developments in Brazil, Peru and Chile. Asia-Pacific is projected to witness high growth as well on account of a rapidly increasing industrial base driven by oil & gas, chemical and infrastructure sectors.

"Stringent industrial regulations and standards driving the growth in the fire resistant fabric market"

The fire resistant fabric market is driven by industrial regulations and standards, growing concern for employee safety and the growth in end-use industries. Industrial regulations such as the OSHA mandate in 2010 and 2012 and NFPA regulations such as NFPA 70E and NFPA 2112 have heavily contributed towards the growth of the market. These regulations have set a trend that other agencies in Asia-Pacific and South America are moving towards which will further drive the demand for fire resistant fabrics.

"Industrial Protective Clothing is the major application for the fire resistant fabric market"

Fire resistant fabrics are majorly used for applications such as industrial protective clothing, defense & public safety services and transport among other applications including household & industrial furniture, mattresses and roofing materials. Industrial protective clothing accounted for 47.8% of the market in 2014 and is also estimated to be the highest growing application for the fire resistant fabrics between 2015 and 2020.

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