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Global Flame Resistant Fabrics Market is Expected to Reach USD 4.87 billion by 2020 : Transparency Market Research

Albany, NY, Dec. 1, 2014 (GLOBE NEWSWIRE) -- According to the report, the global flame resistant fabric market was valued at USD 3.12 billion in 2013 and is anticipated to reach USD 4.87 billion by 2020, expanding at a CAGR of 6.7% between 2014 and 2020. In terms of volume, the global flame resistant fabrics market stood at 298.2 million square meters in 2013.

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Implementation of government regulations related to the use of flame resistant wear in different industries, especially in oil & gas and chemical industries, is the primary driver for the global demand for flame resistant fabrics. Safety of workers in these industries is a major concern due to the high risk of fire accidents. Along with industrial wear, firefighting services and defense services that require flame resistant properties in their uniforms are the major users of flame resistant fabrics. However, lack of awareness coupled with high cost of these products is projected to hamper market growth. Emerging economies are likely to be the significant users of flame resistant fabrics in the near future. These economies are witnessing substantial growth in end-use industries.

Key application sectors for flame resistant fabrics include industrial protective clothing, law enforcement and firefighting services, transport, and others such as home and institutional furnishings. Industrial protective clothing was a major application for flame resistant fabrics, accounting for about 53% of the global demand in 2013. Growth in chemical and oil & gas sectors is the key driver for development of the flame resistant fabrics market, especially in emerging economies. Additionally, adoption of safety regulations similar to that in developed economies is expected to fuel demand for flame resistant fabrics in these sectors. On the other hand, law enforcement forces and firefighting services, which include the defense sector, are projected to experience sluggish growth due to decreasing revenues in the defense sector. The transport sector is another segment that is anticipated to drive the flame resistant fabrics market in the next few years due to increasing usage of high performance fabrics in automobile, aircraft and railways. Others application that includes home and institutional furnishings is expected to experience moderate growth in the near future; however, it is likely to lose market share to growing segments.

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The flame resistant fabrics market in developed regions such as North America and Europe is well established. Europe accounted for a share of more than 35% in 2013. The flame resistant fabrics market is anticipated to experience moderate growth during the forecast period from 2014 to 2020. Asia Pacific is expected to be the second-fastest growing market during the forecast period. The region is estimated to experience significant growth in industries such as oil & gas and chemical, and is likely to account for a healthy share of the global flame resistant fabrics market by 2020. Rest of the World (RoW) is projected to be the fastest growing region during the forecast period due to rising adoption of flame resistant fabrics in various sectors.

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Players (fiber and fabric manufacturers) operating in the industry include DuPont, Milliken & Company, TenCate, PBI Performance Products, and Lenzing AG. E. I. du Pont de Nemours and Company with leading brand Nomex accounted for over 30% of the global market share in 2013. Other companies in the market include Solvay S.A, Gun Ei Chemical Industry Co., Ltd., Huntsman Corporation, Kaneka Corporation, Teijin Aramid B. V., and Toyobo Co., Ltd.

The report segments The Global Flame Resistant Fabrics Marketas :

Flame Resistant Fabrics Market - Application Analysis

  • Industrial protective clothing
  • Law enforcement and firefighting services
  • Transport
  • Others (Including home furnishings, etc.)

Flame Resistant Fabrics Market - Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Detail4Rest of the World (RoW)

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Source:Transparency Market Research