Nearly 27.2% of the global industrial protective clothing fabrics
market was taken up by its three leading players in 2015. With a
large portion of the market left to regional players, the global ones
such as Milliken & Company, Teijin Aramid, and TenCate are
looking for greater coverage through establishing new manufacturing
capacities in new regions as well as manage newer mergers and
acquisitions.
According to a research report released by Transparency Market
Research, the global industrial protective clothing fabrics market
holds a highly intense competitive landscape due to the large number
of manufacturers involved regionally, while a smaller proportion of
the market value is taken up by globally prominent entities.
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At the same time, the scope of entry for new players is low, owing
the expensive entry barriers they have to cross, coupled with the
goodwill and long-term contracts already held by the existing
players. The global industrial protective clothing fabrics market is
expected to expand at a CAGR of 6.8% within a forecast period from
2016 to 2024 in terms of revenue. It is calculated to generate
US$2.24 bn by the end of 2016 and US$3.36 bn by the end of 2024.
Industrial
Protective Clothing Fabrics Manufacturers’ Dependence on Oil and
Gas Sector on Shaky Grounds
Till 2015, the oil and gas industry had been the leading application
segment for the global industrial protective clothing fabrics market,
with over 20% of the value taken up by it at the time. The oil and
gas sector has always been showing a very high demand for industrial
protective clothing fabrics due to the precarious nature in which
people have to work. Owing to the high risk environment and the
growing need for better safety equipment to reduce mortality and
injury rates, the oil and gas sector raised the acquisition of
premium industrial protective clothing fabrics a high priority.
However, with the current slowdown of this sector is creating an
uncertain future for the global industrial protective clothing
fabrics market as the number of rigs in operation as well as the
foundation of new rigs has been cut down considerably.
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APAC Raises
Queries over Worker Safety; Industrial Protective Clothing gets High
Priority
“The globally prominent players in the global industrial protective
clothing fabrics market are currently looking at Asia Pacific as a
land of great opportunities. Countries from this region – such as
India and China – are generating a very high demand for several
industrial components, including safety gear and industrial
protective clothing. This means that players in the global industrial
protective clothing fabrics market can certainly approach industrial
names in this region to strike long term deals for the production of
high quality protective fabrics,” states a TMR analyst.
The global industrial protective clothing fabrics market is
additionally boosted by the massive support shown by several
governments from key countries across world, towards greater worker
safety implementation. The market is currently being spearheaded by
the increased government investments and a positive rate of
innovation and product development.
Flame Resistant
Fabrics Likely to be Expensive for Some
Apart from the declining oil and gas demand for industrial protective
clothing fabrics, this global market is also being hampered by the
high costs associated with the manufacture of flame-resistant
fabrics. This is especially a problem for emerging economies, as
these high costs cannot be met by a considerable number of small and
even medium-sized industrial entities. The cost of flame-resistant
fabric firstly involves complex methods that also consume premium
fabrics and chemicals that are expensive. Additionally, the use of
manufacturing technology requires a manufacturer to obtain
proprietary and often expensive software and hardware.
“Although it has so far been a direct established chain between
manufacturers and end users, the global industrial protective
clothing fabrics market is expected receive a unique and positive
boost in sales from the booming ecommerce industry. Formerly, the
safety association and personnel were solely responsible for the
purchasing of safety gear and distributing it between the employees.
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However, with the scope of availability made possible through the
Internet, people are approaching vendors directly to purchase their
own safety,” adds the analyst.The information presented in this
review is based on a Transparency Market Research report, titled,
“Industrial Protective Clothing Fabrics Market - Global Industry
Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
Key segments of
the Global Industrial Protective Clothing Fabrics Market
Industrial
Protective Clothing Fabrics Market: Applications Analysis
- Oil & Gas
- Utilities
- Electricians
- Combustible Dust
- Welding
- Molten Metal
- Food Services
- Mining
- Others
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