Flame Retardant Apparel Market Highlighting Regional Revenue Share Dominance during 2018-2027
The study predicts that the flame retardant apparel market will grow at an impressive 6.5% volume CAGR through 2027.
[ClickPress, Thu May 16 2019] The flame retardant apparel market remains highl 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.
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Workers’ Safety Regulations on Personal Protective Equipment Drive Growth of the Flame Retardant Apparel Market
Use of personal protective equipment in high-risk industries that can pose serious harm to workers’ health is mandated by occupational safety organizations across the world. The Occupational Safety and Health Administration has developed regulations, such as 29 CFR1910.269, that mandate employers to provide flame retardant apparels or clothing to employees that are exposed to the hazards of flames or electric arcs in the work premises. Worker safety regulations are also being implemented strictly in developing countries, which has led to a spurt in flame retardant apparel sales in recent years. These macro trends are likely to influence flame retardant apparel market in the future.
Stringent Quality Standards and Certification Requirements for Flame Retardant Apparels Influence Pricing
Taking into consideration the importance of safety features of flame retardant apparels, governing bodies have developed high quality standards for personal protective equipment to ensure wearer safety. Manufacturers in the flame retardant apparel market need to comply with regulatory requirements before marketing and selling their products.
Manufacturers Introduce Flame Retardant Apparels to Suit Women’s Build
Gender diversity is becoming reality across various industries as women are foraying into industries such as oil & gas, chemical, and mining industry. Perpetually increasing percentage of woman employees in these industries has created new opportunities for protective clothing industry.
According to the United Nations Economic Commission for Europe (UNECE), female representation in top oil & gas companies is around 11%, and this number is likely to increase rapidly in the upcoming years. To gain a competitive edge in the market, flame retardant apparel manufacturers are focusing on enhancing functionality, without compromising on the aesthetics.
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Favorable Macroeconomic Factors Induce Momentum in the Market
Flame retardant apparels are among the most important and most commonly used personal protective equipment across a wide range of industries. Flame retardant apparels find applications in a range of industries, including but not limited to, oil & gas, building & construction, electronics & electric power generation, automotive, and chemical industry. The broader developments in these industries has a significant impact on the fortunes of fire retardant apparel manufacturers.
The recovery in oil prices, infrastructure investment in Asia Pacific, and relative economic stability in the US have been instrumental in driving business activity, which in turn has had a ripple effect on the flame retardant apparel landscape.
The Fact.MR report provides detailed analysis on the recent developments in strategies of key players in the flame retardant apparel market. Leading stakeholders in the fire retardant clothing market featured in the Fact.MR market report include Honeywell International Inc., Bulwark FR, Seyntex N.V., Fristads, Marina Textil S.L., DEVA F-M. s.r.o., Koninklijke Ten Cate nv, Portwest Ltd., Lakeland Industries, Inc., National Safety Apparel, Ansell Protective Solutions AB, Carrington Textiles Ltd, Hydrowear, Arco, Scandia Gear Europe B.V., and Eagle Technical Products.
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