The globalĀ fire resistant fabrics marketĀ size was valued at USD 3.38 billion in 2023. The market is projected to grow from USD 3.54 billion in 2024 to USD 5.44 billion by 2032, exhibiting a CAGR of 5.5% during the forecast period.
Fire resistant fabrics are designed to hold treated or inherent properties to resist combustion and halt the spread of flames. The increased adoption of fire resistant fabrics in different industries to strengthen safety measures, specifically in environments where the workers are exposed to fire hazards, is anticipated to fuel market growth.
The market witnessed a slow growth during the COVID-19 pandemic. The increased movement restrictions, reduced production, and lockdowns, which temporarily decreased demand for fire resistant fabrics, particularly in the manufacturing and construction sectors, impeded market expansion during the pandemic.
Fortune Business Insightsā¢ mentions this in a report titled, āFire Resistant Fabrics Market, 2024-2032.ā
Segments
Rising Awareness Regarding Workplace Safety to Propel Treated Segment Expansion
Based on type, the market is bifurcated into treated and inherent. The treated segment held the dominant fire resistant fabrics market share in 2023 and is the fastest-growing segment. The growth is attributed to the rising awareness of workplace safety and strict regulations in different industries augmenting the demand for these fabrics.
Strict Safety Regulations across Different Industries to Drive Apparel Segment Growth
By application, the market is divided into apparel and non-apparel. The apparel segment held the largest market share in 2023. The segmentās growth is attributed to the strict safety regulations across industries, including firefighting, manufacturing, and oil & gas, augmenting the fire-resistant protective apparel for worker safety and compliance.
Surging Industrial Accidents Incidents Drives Industrial Segment Growth
Based on end-user industry, the market is segmented into industrial, defense & public safety services, transport, and others. In 2023, the industrial segment dominated the market in terms of share owing to the increasing number of industrial accidents.
Geographically, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Drivers & Restraints
Rising Expansion of Industrial Sectors to Drive Market Growth
The rising expansion of many industrial sectorsā footprint is bolstering the fire resistant fabrics market growth. The market growth is also driven by the high demand for fire resistant fabrics as the industrial sectors prioritize the well-being and safety of the workforce, along with strict regulations and a growing need for advanced protective measures.
However, the increasing complexity and compliance costs of these fabrics due to the strict regulations may hamper market expansion.
Source-Ā https://www.fortunebusinessinsights.com/fire-resistant-fabrics-market-109417
Regional Insights
Increasing Industrialization in Several Nations Drive Market Expansion in Asia Pacific
In 2023, Asia Pacific held the largest market share of 45.8% and is witnessing the fastest-growth in the market. The growth is attributed to the rapidly increasing industrialization in nations, including India and China, leading to an increased risk of fire incidents in the region.
North America accounts for a substantial market share with the increased focus on worker safety.
Competitive Landscape
Key Players Focus on New Product Offerings to Drive Market Growth
In terms of competitive landscape, the fire resistant fabrics market comprises competing market players. The growing focus of these key players on distribution channels and new product offerings to expand their presence in different nations further drives market growth.
Key Industry Development
April 2023 āĀ Teijin Ltd. introduced its new fire resistant fabric called Tenax, a woven carbon fiber covered with a thermoplastic polymer and impregnated completely.
List of Key Players Profiled in the Report:
- DuPont de Nemours, Inc. (U.S.)
- Lenzing AG (Austria)
- Teijin Ltd. (Japan)
- TenCate Protective Fabrics (U.S)
- Solvay S.A. (Belgium)
- Kaneka Corporation (Japan)
- Milliken & Company (U.S.)
- L. Gore & Associates, Inc. (U.S.)
- Indorama Ventures Fibers Germany (Germany)
- Taiwan K.K. Corporation (Taiwan)
