LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global flame retardant apparel market provides an analysis on the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Neelesh Prakash Singh, a lead analyst from Technavio, specializing in research on power sector says, “The growth in residential and non-residential construction has fueled the use of flame retardant apparel by construction workers to protect themselves from arc, electric, and welding flashes while carrying out construction-related activities. Increasing incidence of fire is another important factor, driving the growth of the global flame retardant apparel market.”
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The top three emerging market trends driving the global flame retardant apparel market according to Technavio research analysts are:
- Wearable technology
- Integration of e-commerce channels for sale of apparel
- Automation of operations
Wearable technology is being widely used in the consumer segment and is gaining momentum in the industrial segment as well. Implementing wearable technology in the industrial environment is a new concept, which will ensure and enhance employee safety. A wearable user interface provides vital information through electronics, which are designed to be worn on the human body.
Wearable devices have wide applications in industries like mining, automotive, and construction, as they support various business activities. This technology is used to ensure the successful implementation of personal protective equipment (PPE) and enhance employee productivity, safety, and ensure long-term cost savings by preventing accidents in workplaces. As per various regulations, the employer has the responsibility to ensure that PPE is available and is used by the workforce while performing hazardous activities. Non-compliance with governmental regulations can tarnish the company's image and invite heavy penalties from the authorities.
Integration of e-commerce channels for sale of apparel
Procurement of PPE via e-commerce channels is another trend in the market. The B2B e-commerce market is still maturing and offering high opportunities for the growth. In the US, B2B e-commerce sales are expected to grow every year contributing a higher percentage to the overall B2B sales each year.
In the developed countries, such as the UK and the US, and developing countries such as China and India, vendors in the market are likely to focus on e-commerce. The leading e-commerce company Amazon has a successful venture in the personal protective equipment market in these countries, making it easier to penetrate the market due to the competitive advantage that it possesses.
“Amazon's distributors, called as MRO distributors for protective equipment, offer a wide range of products in comparison with certain PPE distributors. Apart from the competitive advantage, Amazon also has very superior distribution channels,” says Neelesh.
Automation of operations
The automation of various processes in the manufacturing industry is reducing the need for human labor and in turn, the demand for safety apparel. According to the World Economic Forum 2016 held at Davos Klosters, Switzerland, the Fourth Industrial Revolution is underway, which will be based on fully automated industries and will eliminate millions of jobs over the next 5-10 years. Technology will take over 40% of jobs in the next 20 years.
With the increase in the automation of various operations, the workforce required for manufacturing operations will fall drastically. The labor force is increasingly being replaced by process automation, thereby reducing operating costs. This further impacts the use of flame retardant apparel for workers in industrial operations.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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