Protective Fabrics Market – Overview:
Protective Fabrics are predominantly utilized in various end use industries such as building & construction, oil & gas, defense & military, healthcare, firefighting, and others. Protective Fabrics market is estimated to witness robust growth owing to growing demand from building & construction sector and continuous growth of healthcare as well as oil & gas industry worldwide. In addition, building & construction is predicted to remain the largest consumer of protective fabrics over the assessment period on account of implementation of stringent regulations for the safety of workers in North American and European countries in the next few years. Moreover, healthcare segment is estimated to grow with the highest CAGR due to growing per capita disposable along with burgeoning need of safe medical treatments.
Geographically, North America emerged as the largest market for protective fabrics in 2016 followed by Europe and Asia Pacific. The Asia Pacific Protective Fabric Market is estimated to witness healthy CAGR and is predicted to register significant growth over the forecast years owing to increasing demand from defense and healthcare sector. Furthermore, the demand for protective fabrics is predicted to surge in various countries of Asia Pacific such as China, India, and South Korea on account of rising building & construction activities along with high adoption rate from various end use industries. Furthermore, huge investment by major market players in their innovation and Research & Development activities and shifting of protective fabrics manufacturing unit as well as significantly growing base of numerous end use industries in this region is estimated to propel the protective fabrics regional market growth. North American market is expected to witness healthy growth due to growing concern for industrial workers safety along with stringent regulations regarding the proper use of personal protective equipment while working in a plant. North American market is further categorized into U.S. and Canada which are among the major contributor in the regional market growth on account of strong growth of building & construction and healthcare sector. European market is estimated to witness strong growth on account of rising awareness regarding the benefits associated with the product as well as growing utilization in firefighting and oil & gas industries. Furthermore, developing countries of Latin America and the Middle East & Africa such as Turkey, the United Arab Emirates, Iran, Israel, Brazil, and Mexico are estimated to witness steady growth due to rising disposable income combined with strong consumer base for building & construction sector.
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Industry/ Innovation/ Related News:
December 2017- Dollar industries, an India based manufacturer of innerwear announced to launch a wide range of protective wear which help to protect the skin during dry season. The range comprises of trousers, v-neck full sleeve shirt, round neck shirts, vest, and full sleeve top. With these range the company increase its footprint in Indian market.
June 2017- MSA Safety Incorporated announced to establish an agreement to acquire Globe Holding Company, LLC. Globe Holding Company is one of the major innovator and supplier of firefighter protective clothing and boots, with an annual income of around USD 110 Million. This acquisition helps company to strengthen its leading position in North American fire service market and spread its core product portfolio in a key customer segment.
The protective fabrics report has analysed the level of competition among the key operating players as well as sector growth and market scenario. The global protective fabrics market comprises of various manufacturers operating in the market which comprised of large scale and medium scale producers. Some of the prominent market players operating in the global protective fabrics industry has shifted their focus towards growth association specifically by Asia Pacific as moderate level and small scale manufacturers are from this region specifically from China, Singapore, South Korea, India, Indonesia, Thailand, Taiwan, Malaysia, Australia, and Japan. Apart from this, the key manufacturers are focusing on improving their product portfolio by strategic acquisition and mergers, joint ventures, product launches, and exclusive agreements. Many operating players are escalating their manufacturing capacity of protective fabrics to meet the growing demand for protective fabrics. Apart from this, many key players has launched a series of product to solidify their position in the market.
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