Given that, each market player offering a unique flagship product will adopt various strategies to increase its market share.
The market size is forecasted to reach $6.56 billion by 2024, though it was evaluated at $3.63 billion in 2015. Thus, the market will show growth at almost 7% CAGR over the forecast period. Speaking about regions, Europe is expected to lead on account of the diversity in the product range.
Based on application, the segment of protective industrial clothing, which also led the market in 2015, is anticipated to emerge as the dominant one. Law enforcement bodies, firefighting services and transportation also express high interest in this product type. Transportation segment is anticipated to gain traction in the coming years, on account of rising demand for security in the industry.
Flame resistant fabrics based products do not lose their fire resistant properties over a long duration of time. Consequently, they can arouse interest of end users who are in need of such solutions. This fact is expected to impact the segment growth in the coming years.
Another factor having an influence on the rapid growth of finished products segment is the utilization of hybrid fabrics produced from the different fibers mixture. This material is lightweight, cost-effective and offers high protective properties.
Flame resistant fabrics are utilized to fabricate pieces of clothing, and furniture for an extensive number of industry sectors, for instance, transportation, oil and gas, medicinal services, defense and security. Implementation of advanced technologies and novel equipment will give a lot of opportunities for these materials. However, substantial investment in R&D and high cost of production are restricting the global flame resistant fabric market.
According to the analysts, the main players in the flame resistant fabrics market are DuPont, Milliken & Company, Teijin Aramid, Lenzing AG и TenCate.