The global Fire Resistant Fabrics Market is anticipated to reach USD 8.5 billion by 2026 according to a new research published by Polaris Market Research. In 2018, the treated Fire Resistant Fabrics segment accounted for the highest market share in terms of revenue. Europe is expected to be the leading contributor to the global Fire Resistant Fabrics market revenue in 2018.
The growing need to provide workplace safety has resulted in Fire Resistant Fabrics market growth. The advancements in technologies and introduction of stringent regulations regarding safety of workforce further lead to Fire Resistant Fabrics market growth. Increasing demand for fire resistant fabrics from public spaces such as theatre, school and auditoriums, along with growing use in firefighting uniforms, transport, and law enforcement services supplement the growth of Fire Resistant Fabrics market. Growing demand of Fire Resistant Fabrics from developing nations provide growth opportunities for the market. The increasing use of fire resistant fabrics in construction, oil and gas, and mining sectors among others are propelling the growth of global Fire Resistant Fabrics market.
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Europe generated the highest Fire Resistant Fabrics market share in terms of revenue in 2018. The adoption of fire resistant fabrics is expected to increase significantly in this region owing to increasing need to offer safety and security to the workforce. The increasing demand from the defense sector also drives the fire resistant fabrics market across various countries in the region. Market players in the European Fire Resistant Fabrics industry are introducing highly efficient and affordable fire resistant fabrics to cater to the growing consumer needs. Increasing safety concerns, growing military expenditure, and increasing use in the oil and gas and mining sectors are factors encouraging market players to launch efficient fire resistant fabrics across the globe.
Leading global players are expanding their presence in developing nations of India, China, and Japan to tap the growth opportunities offered by these countries. They are also introducing new products in the market to cater to the growing consumer demands. For instance, in January 2015, Teijin Limited announced the launch of Teijinconex neo, which is a new type of meta-aramid fiber providing unsurpassed heat resistance along with excellent dyeability. This launch enabled the company to enhance its product offerings in the Fire Resistant Fabrics market and cater to the growing consumer demands.
The well-known companies profiled in the Fire Resistant Fabrics market report include Huntsman International LLC, PBI Fibers International, Teijin Limited, E. I. Dupont De Nemours and Company, Royal Tencate N.V., Gun Ei Chemical Industry Co., Ltd., Solvay S.A., Kaneka Corporation, Lenzing AG, and Newtex Industries, Inc. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.