APAC Flame Resistant Fabrics Market is set to hit $1.5 Bn by 2024
Some of the major industry players in Flame Resistant Fabrics Market include TOYOBO CO., LTD., LENZING AG, Huntsman International, Evonik Industries., DuPont, Koninklijke Ten Cate nv, Solvay, Milliken & Company, Teijin Aramid B.V. and others.
SELBYVILLE, Del., March 8, 2018
SELBYVILLE, Del., March 8, 2018 /PRNewswire-iReach/ -- Asia Pacific Flame Resistant Fabrics Market has become one 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 Fabrics market over the coming years.
Flame resistant fabrics market size will likely surpass USD 6 billion by 2024. Increasing demand for Flame Resistant Fabrics 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 Fabrics.
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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.
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.
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Asia Pacific region holds a potential flame resistant fabrics 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 flame resistant fabrics market accounts for highest volume consumption with more than 22% of overall market revenue.
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Browse key industry insights spread across 280 pages with 307 market data tables & 26 figures & charts from the report, "Flame Resistant Fabricss Market Size By Product (Inherent, Treated, Hybrid), By End-user (Defense & Public Services, Industrial, Transport), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, South Korea, Argentina, Brazil, Mexico, Saudi Arabia, UAE,South Africa), Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
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