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 an analysis. The obligation of strict regulatory rules and growing awareness about workers’ safety in high-risk industries worldwide continue to drive growth.
In a recent report by Fact.MR, opines that effective implementation of workplace safety guidelines in developing countries can open up new opportunities for manufacturers. The study also predicts that the flame retardant apparel market will grow at an impressive 6.5% volume CAGR through 2027.
‘Not protecting their employees with good-quality flame retardant apparels 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 apparels across several industries,’ says report.
The report also added, ‘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 study thoroughly analyzes growth parameters of global flame retardant apparel market to provide comprehensive and insightful information about the future prospects of the global flame retardant apparel market.
Oil and gas and power generation industries create promising growth opportunities
The study on flame retardant apparel market offers demand and supply analysis for flame retardant apparels 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 apparels.
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 apparels, 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 study, demand for flame retardant apparels will be complemented by healthy adoption in the power industry.
European market to create most promising growth opportunities with over one-third volume share
The study finds the 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 apparels 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 Europe flame retardant apparel market.