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Fire Resistant Fabrics - Global Market Trajectory & Analytics

  • ID: 4804915
  • Report
  • April 2021
  • Region: Global
  • 577 pages
  • Global Industry Analysts, Inc
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As companies cut CAPEX and R&D spends amid the recession, Fire Resistant Fabrics market will witness temporary disruption in business opportunities. As COVID-19 infections surge to over 3 million, the global economy is entering into a recession at -3% GDP growth for the year 2020. Business confidence is nose diving as the pandemic worsens and continues to spread. Virtually every company is facing financial woes as the pandemic stalls economic activity and disrupts trade, production, demand and supply. Investor confidence as measured by equity-market performance is in a free fall. Against this backdrop, B2B spending is freezing. With industrial and manufacturing activity coming to a grinding halt, purchases of PPE including fire resistant clothing by chemical and other industrial plants and factories are also being impacted. Demand for these fabrics in the manufacture of curtains, furnishings, and other decorative textiles are also declining in parallel to the decline in consumer discretionary spending. With defense budgets expected to be slashed with the pandemic widening government deficits, new orders from the military sector will also decline in the coming years. R&D budgets for new fire resistant fabrics are being downsized, stifling innovation which is a key growth catalyst. Manufacturers' revenues are declining amidst quick drying up of customer orders, sales and cash reserves. Against this backdrop, the global market size for Fire Resistant Fabrics is revised at a projected US$4.6 billion for the year 2027.

The market will however bounce back in the post COVID-19 period as the threat of fire accidents is ever-present, despite stringent fire safety regulations in workplaces and factory floors. Growing awareness over the importance of fire prevention plans will see a return of voluntary adoption of fire safety measures by companies as the economic climate improves. Rising costs of non-compliance to worker safety regulations in the form of hefty penalties and expensive legal services and guidance will also encourage investments in personal protective equipment (PPE) during this period. The most important motivation for investing in fire resistant clothing as always will be the significant economic and financial losses caused by fires to not just property and assets but also the unquantifiable social cost of loss of life and injuries. Human loss and suffering is immeasurable. Fire-related fatalities and injuries continue to remain high especially in high risk hazardous work environments like oil and gas; chemical plants; process plants; metalworking job shops; among others. As plant operationsgradually resume, demand for fire safety wear will also improve as flame-retardant (FR) and flame-Resistant (FR) clothing are the first line of personnel protection against fire.

A fair share of focus will be shed on developing clothing with comfortable fit and mobility for a wide range of body types and contours. Cost, comfort and protection have always been key design and development considerations. Gender specific innovations which were rife in the market before the pandemic will regain lost momentum. Few of the innovations that the market has witnessed so far include fabrics based on partially carbonized materials that do not decompose to form hard plastic when exposed to fire like meta-aramid fibers; moisture-wicking garments that keeps the wearer cool and dry in extreme heat; anti-bacterial and anti-odor fabrics; multilayered woven and non-woven protective fabric assemblies; insulation materials and reinforced woven's in composite solutions; and a host of other fabrics with diverse multi-functional features such as body temperature control, motion enhancement, lightweight, comfort, breathability, evaporation, moisture control, flexibility, and anti-static property. Growth in the post pandemic period will also come from the rapid expansion of fire disaster planning and management teams. Extreme weather conditions, global warming and the ensuing unnatural and abnormal increase in forest fires, will lead to the expansion of disaster management forest service firefighter teams. With temperatures high than normal, there is a 6 fold increase in forest fires in countries across the world. Also, with fire safety norms becoming stringent, there will be a need for expanding fire response and firefighting teams which are currently understaffed and overworked in numerous countries.

Select Competitors (Total 64 Featured):
  • DuPont De Nemours, Inc.
  • Glen Raven, Inc.
  • Gun Ei Chemical Industry Co., Ltd.
  • Kaneka Corporation
  • Koninklijke Ten Cate bv
  • Milliken & Company
  • Newtex Industries, Inc.
  • PBI Performance Products, Inc.
  • Solvay S.A.
  • Teijin Ltd.
  • W.L. Gore & Associates, Inc.
Note: Product cover images may vary from those shown
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I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • COVID-19 Outbreak: Looming Global Recession and the Impact on Fire Resistant Fabrics Market
  • Surging Coronavirus Infections, Plummeting Business Confidence & Equity-Market Performance to Disrupt Sales, R&D & Stifle Innovation in Advanced Functional Fabrics
  • Exhibit 1: World MSCI ACWI Index (% Change) & Number of COVID-19 Infections
  • An Introduction to Fire Resistant Fabrics
  • Fire Resistant Fabrics: Current Market Scenario and Outlook
  • Recent Industry Activity
  • Revenue Contribution of Developed Regions Remains High
  • Exhibit 2: World Market for Fire Resistant Fabrics: Percentage Breakdown of Revenues for Developed and Developing Regions (2020 & 2027)
  • Developing Regions Emerge as New Growth Markets for Flame Resistant Fabrics
  • Exhibit 3: World Fire Resistant Fabrics Market - Geographic Regions Ranked by CAGR (Value) for 2020-2027
  • Treated Fabrics Gain Traction
  • Inherent Fabrics Demonstrate Fast Paced Growth
  • Aramid Fibers Most Sought After Materials in Inherent Fabrics
  • The “Great Lockdown” of 2020 Crushes the Global Economy
  • What Does This Mean for Fire Resistant Fabrics Market?
  • Exhibit 4: Real GDP Growth Rates in % by Country/Region for the Years 2019 and 2020
  • Exhibit 5: Global PMI Index Points for 2018, 2019 and 2020
  • Competitive Landscape
  • Industrial Sector: A Major Consumer of Fire Resistant Fabrics
  • Fire Resistant Fabrics Significance in Oil & Gas Facilities
  • Chemical Plants
  • Current Market for Fire Resistant Apparel/ Workwear
  • Defense Departments Rely on FR Fabrics to Resolve Challenging Needs
  • FR Fabrics Come to the Fore to Aid Firefighting Departments
  • The Most Destructive of All Accidents, Fire Accidents Call for Fire Disaster Preparedness
  • Exhibit 6: Global Reported Number of Fire Accidents (In Million)
  • High Growth Opportunities in Transportation Applications
  • Exhibit 7: World Transportation-Grade Fire Resistant Fabrics Market by Sector (2020E)
  • FR Fabrics Gaining Traction in Domestic Textiles
  • Certifications Do Not Reveal the Actual Structural Integrity of FR Fabrics/ Garments
  • Brief Note on Standards and Certifications
  • Innovations and Advancements
  • Advancements in High Temperature Fibers
  • Protective Fabrics: Select Advancements
  • Aluminized Fabrics
  • Active Protection System
  • Protective Flex
  • Thermal Sensitivity Fabrics
  • Protection against Chemical and Biological Threats
  • Select Product Innovations and Launches
III. MARKET ANALYSIS
  • Impact of COVID-19 Pandemic on the US Fire Resistant Fabrics Market
  • Impact of COVID-19 Pandemic on the Chinese Fire Resistant Fabrics Market
  • Impact of COVID-19 Pandemic on the European Fire Resistant Fabrics Market
IV. COMPETITION
  • Total Companies Profiled: 64
Note: Product cover images may vary from those shown
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