Flame Retardant Textile Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Know the Russia Ukraine Impact On Flame Retardant Textile Industry
The global flame retardant textile market is set to gain momentum from its ability to lower the rate of growing flames. Fortune Business Insights™ published this information in an upcoming report, titled, “Flame Retardant Textile Market Size, Share & Industry Analysis, By Type (Treated, Inherent), By Application (Construction & Manufacturing, Oil & Gas, Mining, Chemical, Defense & Public Safety Services, Railways, Aircraft, Marine, Automotive, Others) and Regional Forecast, 2020-2028.” The report further states that flame retardant textile can be used on both synthetic and natural fibers.
How Did We Create This Report?
We employ iterative and comprehensive research techniques focusing on minimizing deviance. We use a combination of top-down and bottom-up approaches for estimating and segmenting quantitative aspects of the parents market. At the same time, data triangulation is used to look at the market from three perspectives. Simulation models were used to gather data about the market forecasts and estimates.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Flame Retardant Textile Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Flame Retardant Textile Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
Drivers & Restraints-
High Demand from Oil and Gas Industry to Bolster Growth
The demand for flame retardant fabric is surging rapidly mainly because of the presence of stringent industry regulations that help in retaining workplace safety, as well as controlling workers’ safety standards. Apart from that, the oil & gas and chemical industries are making use of flame retardant textile for their security of workers. They are doing so to reduce the heavy risk of accidents in these industries. Flame retardant fabric textile is more fire-resistant, than any other fabric because of their chemical treatment. However, increasing investments and high manufacturing costs associated with these textiles may hinder growth.
Rapid Industrialization and Urbanization to Favor Growth in Asia Pacific
Europe, on the other hand, is expected to grow considerably backed by the high sales and production of automotive parts in Italy, France, Germany, and the U.K. In the Middle East and Africa, the rising urbanization and surging disposable incomes will cause sustainable growth.
Regionally, Asia Pacific is expected to lead by holding the largest flame retardant textile market share in the coming years. This growth is attributable to the rapid urbanization and industrialization in developing economies, such as Singapore, Malaysia, Thailand, and India. In North America, the increasing government initiatives and expansion of the automotive industry would aid growth. Coupled with this, the rising demand for flame retardant textiles from the transportation sector is anticipated to propel growth. The region is set to remain in the second position.
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Key Players Focus on Developing Unique Products to Comply with Governmental Directives
The market for flame retardant textile contains various big, small, and medium companies that are presently striving to strengthen their positions through mergers and acquisitions. Some of the others are developing environmentally safe and sustainable textiles to comply with several directives, such as eco-labels, REACH, and WEEE. Below is one of the latest industry developments:
- October 2020: Anker, Devan and Shark Solutions joined hands to develop the world’s first ever flame retardant aviation carpet. They made it by using a recycled binder. The PVB binder can reuse laminated glass from building glass or windshields that otherwise end up in landfills.
A list of the prominent flame retardant textile providers operating in the global market:
- Royal Tencate Corporate EMEA
- PBI Performance Products
- Milliken & Company
- Huntsman Corporation
- Lenzing AG
- Teijin Aramid
- Solvay SA.
- Gun Ei Chemical Industry Co. Ltd.
- Other key market players
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