New York – May 8, 2023 - Research Nester’s recent market research report on “Fire Resistant Fabrics Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview in terms of market segmentation by end use industry, application, and by region.
Concerns About the Alarming Number of Fire Accidents in the Oil and Gas Industry to Promote Global Market Share of Fire Resistant Fabrics
The increasing incidents of fire outbreaks in the oil and natural gas industries in different parts of the world are the major factors that are thought to drive market growth during the forecast period. Oil and natural gas production involves many procedures that are particularly susceptible to fire outbreaks. The use of defective equipment, the insufficient maintenance of oil rigs, and the practice of unsafe drilling procedures increase the risk of fire and explosion in the oil wells. Additionally, the sparks and flames produced during procedures, such as cutting, welding, grinding, and brazing when coming into contact with flammable liquids or gas, also result in accidents of a very grave nature. Further, another reason for fire accidents is the incidents of well blowouts. Sometimes the oil and gas in the oil wells get released uncontrollably as a result of faulty pressure control systems. The resultant well blowouts are capable of very massive explosions and destructions and increases the demand for fire resistant fabrics in the oil and gas industry.
Another important factor that is expected to increase the demand for fire resistant fabrics is the increase in the delivery of aircraft all over the world. Fatality in aircraft accidents mainly happens as a result of explosions, burns, and inhalation of smoke. Aircraft with rough-running engines often face difficulties such as oil spills and ignitions. Aircraft catch fire easily, and hence, it is necessary to use suitable materials, including fire resistance fabrics for the manufacturing and interior furnishing of aircraft. These steps help reduce the casualties during fire incidents during flights.
Some of the major growth factors and challenges that are associated with the growth of the global fire resistant fabrics market are:
Growth Drivers:
- Considerable Increase in the Investments to Boost the Production and Use of Electric Vehicles
- Rapid Growth in the Funding for the Manufacturing of Chemicals and Advanced Materials
Challenges:
The failure to comply with the safety regulations meant for industries involving the hazardous working environment and the inability of industries in developing nations to purchase fire resistant fabrics at high prices are some of the major factors anticipated to hamper the fire resistant fabrics market. Such fabrics are manufactured by subjecting the raw materials to several procedures which involve high expenditure. These are the procedures that make the fabrics resistant to fire and are, therefore, inevitable in the production of these fabrics. Further, the fluctuating prices of raw materials should also reflect in the pricing of the end products, which are fire resistant fabrics. Hence, very high costs of raw materials make these fabrics unaffordable for different applications by industries in less developed parts of the world.
Access our detailed report at: on “Fire Resistant Fabrics Market Size & Share by Application (Apparel, Non-Apparel); End User(Transportation, Industrial, Defense & Public Safety) – Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035” @
https://www.researchnester.com/reports/fire-resistant-fabrics-market/4908
The fire resistant fabrics market is segmented by their application into apparel and non-apparel. Between these, the apparel application for fire resistant fabrics is expected to account for around 56% of the market share by the end of the forecast period. The need for protective clothing for workers has become crucial in many industries. Such clothing is expected to protect people who work in hazardous environments, such as electricians. Further, by end-use industry, the industrial sub-segment is expected to contribute most to the fire resistant fabrics market growth. Governments in different parts of the world are imposing stringent regulations regarding the safety of workers in industries where the possibility of fire accidents is high. Hence, the increasing number of oil reserves and the progress in drilling for oil, natural gas, and other fossil fuels that are highly inflammable should also result in market growth all over the world.
By region, the Asia Pacific fire resistant fabrics market is to generate the highest revenue by the end of 2035. This growth is anticipated as a result of an alarming number of fire accidents in different industries. Another factor that is believed to result in regional fire resistant fabrics market growth in the Asia Pacific is the increasing investments in the automotive sector. Fire resistant fabrics are being widely used in the automotive industry for seat covers owing to protection from fire and their durability. These factors are expected to result in the Asai Pacific fire resistant fabrics market holding a revenue share of over 32% by the end of 2035. Further, North America and Europe should also hold significant shares of the global market revenue by the end of the forecast period. North America has been projected to hold a revenue share of about 26%, thereby becoming the second-largest market for fire resistant fabrics as 2035 ends.
This report also provides the existing competitive scenario of some of the key players of the global fire resistant fabrics market which includes company profiling of Kaneka Corporation, Gunei Chemical Industry Co., Ltd, Solvay S.A., PERFORMANCE PRODUCTS INC, W.L. Gore & Associates, Inc, Lenzing AG, Huntsman International LLC, Royal TenCate Protective nv, Teijin Limited, Milliken & Co group, and others.
