The impact of the COVID-19 outbreak has compelled several manufacturers and industries to rethink their operations to gradually recover from the losses incurred for years to come. The organic chemicals industry suffered a huge setback due to halted production and a limited supply of raw materials.
The report offers actionable and valuable market insights of Flame Retardant Apparel. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Flame Retardant Apparel Market across various industries and regions.
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The flame retardant apparel market remains highly consolidated with tier I and tier II companies accounting for nearly 30-40% and 40-50% revenue share respectively.
Large-scale and vertically integrated companies in the flame retardant apparel market continue to have a competitive edge owing to easy accessibility to raw materials. Furthermore, by diversifying their product range through increased investments in the R&D facilities, leading companies hold sway over the flame retardant apparel market.
The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Flame Retardant Apparel market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Flame Retardant Apparel
This newly published and insightful report sheds light on Market Insights of Flame Retardant Apparel, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Flame Retardant Apparel Market.
Global flame retardant sales reached nearly 192 million square meters in 2018, with momentum likely to drive the market to a 6.2% y-o-y in 2019, according to Fact.MR’s latest analysis. The imposition of stringent regulatory rules and growing awareness about workers’ safety in high-risk industries worldwide continue to drive growth. Gains have also been driven by macroeconomic factors, notable stability in global oil prices, and capital injection in infrastructure projects. The report opines that the effective implementation of workplace safety guidelines in developing countries can open up new opportunities for manufacturers.
“Not protecting their employees with good-quality flame retardant apparel can cost employer organizations a fortune with the medical care and rehabilitation of injured employees. Apart from strict legal regulations, growing safety awareness among employees is driving the purchases of flame retardant apparel across several industries,” says Fact.MR’s report. “Flame retardant apparel market players are now focusing on improving comfort along with the safety of their products, and provide flame retardant apparels that can suit the end-users changing demands.”
The Fact.MR study thoroughly analyzes growth parameters of the global flame retardant apparel market to provide comprehensive and insightful information about the future prospects of the global flame retardant apparel market.
Oil & Gas and Power Generation Industries Create Promising Growth Opportunities
The Fact.MR study on flame retardant apparel market offers demand and supply analysis for flame retardant apparel across various end-user industries, such as mining, petrochemical, oil & gas, power, and automotive & transportation. According to the study, the oil & gas industry remains the largest consumer of flame retardant apparel.
The oil & gas industry is one of the high-risk industries that can pose serious harm to workers’ health and is prone to severe workplace accidents. Protective clothing, such as flame retardant apparel, has proven to be an effective safeguard against serious injuries and fatalities. The fatal accident rate (FAR) in the oil & gas industry decreased by approximate 36% in 2017 over 2016 as the number of fatalities decreased from 50 to 33 during the year, according to the reports filed by 45 oil & gas companies associated with the International Association of Oil & Gas Producers (IOGP) organization. The study opines that the effectiveness of protective clothing in improving worker safety will continue to drive sales in 2019 and beyond.
According to the Fact.MR study, demand for flame retardant apparel will be complemented by healthy adoption in the power industry. Evolving workplace safety regulations in power, electronics electrical, and automotive & transportation industries are also likely to influence growth.
European Market to Create Most Promising Growth Opportunities with Over One-Third Volume Share
The Fact.MR study finds EU at the forefront of global fire retardant clothing demand, with over one-third volume share in 2018. The constantly evolving regulatory framework for personal protective equipment in Europe has accelerated the demand for flame retardant apparel in the region. The mandatory conformity to the Regulation (EU) 2016/425 adopted by the European Commission has been instrumental in boosting the growth of the European flame retardant apparel market.
Furthermore, rapidly growing oil & gas demand in the European Union has bolstered the expansion of the oil & gas industry in the region, which is likely to create a positive growth environment for fire-resistant clothing market players. Thereby, flame retardant apparel market players are shifting their focus on complying with the European regulatory framework and meeting the dynamic end-user requirements in the region.
The Fact.MR study provides comprehensive information about the growth prospects of the fire-resistant clothing market. The study predicts that the flame retardant apparel market will grow at an impressive 6.5% volume CAGR through 2027.
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