DUBLIN--(BUSINESS WIRE)--The "Fire-resistant Fabrics Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The global fire-resistant fabrics market is expected to record a CAGR of over 6.2% during the forecast period of 2019-2024.
The major factor driving the market studied is the increasing demand for fire-resistant fabrics in home and commercial furnishing, stringent industrial standards for fabrics, and growing demand from the mining industry in South America.
- High price of raw materials used to make fire-resistant fabric and lack of safety compliance is expected to hinder the growth of the market studied.
- Rapid industrialization in BRICS countries is likely to act as an opportunity in the forecast period.
Key Market Trends
Transport Segment to Dominate the Market
- Fire-resistant fabrics are used in the transport industry during the construction of railways, automotive, aircraft, and marine. The global transport sector is expected to grow at a healthy rate in response to foreign investments for the construction of better railways, metro, and rail networks.
- Growing railway construction across the world is expected to drive the demand for fire-resistant fabrics.
- In China, the government is planning to spend CNY 732 billion on railway projects in 2018, with a view to construct the world's leading rail system. In addition, 4,000km of new tracks are being planned for 2019 and 87.5% or 3,500 km is expected to be for high-speed railway tracks.
- In India, the government has plans to develop metro rail projects in over 30 Indian cities.
- In the automotive sector, growing demand for electric vehicles in Asia-Pacific countries, like India, has also fuelled the studied market's growth.
China to Dominate the Asia-Pacific Market
- The demand for fire-resistant fabrics in China is mainly driven by the growing manufacturing activities of the aerospace industry in the country.
- This growth in the industry is primarily dependent on the rising passenger traffic, due to the higher consumer spending power and better air connectivity. This increasing passenger traffic is further creating a robust demand for an increase in the number of aircrafts.
- According to the Civil Aviation Administration of China, the number of passengers reached a new high of more than 600 million in 2018. Furthermore, the country is planning to launch 260 new international air routes.
- Currently, the country is running 2,185 general aviation aircrafts and is planning to have more than 5,000 aircrafts and 500 airports by 2020.
- Automotive production in China is growing continuously over the past few years. The growth rate in 2017 was 3.3%, accounting for the production of around 29 million units. In 2018, the growth rate decreased to -4.2%, but still leading the global production of around 27.8 million units. However, the government focus on the production of electric vehicles is likely to drive the demand for fire-resistant fabrics market in the forecast period.
The global fire-resistant fabrics market is fragmented in nature. The major companies include DowDuPont, Huntsman International LL, Solvay, Kaneka Corporation, and TenCate Fabrics, among others.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Stringent Industrial Standards for Fabrics
4.1.2 Increasing Demand for Fire-resistant Fabrics in Home & Commercial Furnishing
4.1.3 Growing Demand from the Mining Industry in South America
4.2.1 High Price of Raw Materials used to Make Fire-resistant Fabrics
4.2.2 Lack of Safety Compliance
4.2.3 Other Restraints
4.3 Industry Value-Chain Analysis
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.2 End-use Application
5.2.1 Industrial Protective & Mining Clothing
220.127.116.11 Automotive (Roadway)
5.2.3 Defense & Firefighting Service
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.3.2 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.4 South America
220.127.116.11 Rest of South America
5.3.5 Middle East & Africa
18.104.22.168 Saudi Arabia
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 Glen Raven Inc.
6.4.3 Huntsman International LLC
6.4.4 Kaneka Corporation
6.4.5 LENZING AG
6.4.6 Newtex Industries Inc.
6.4.7 PBI Fibers International
6.4.9 Teijin Carbon Europe GmbH.
6.4.10 TenCate Fabrics - EU
6.4.11 W. L. Gore & Associates Inc.
6.4.12 Westex by Milliken
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rapid Industrialization in BRICS Countries
7.2 Other Opportunities
For more information about this report visit https://www.researchandmarkets.com/r/ok8gjj