Feb 12, 2020
Protective Clothing Fabric Market to Witness Robust Growth of 8%, with Increasing Emphasis by Governments on Workers’ Safety, Opines Fact.MR
by Team Fact.MR
Global protective clothing fabric market is projected to grow at an impressive CAGR of more than 8% between 2019 and 2026, poised to surpass a valuation of US$ 4.4 Billion by the 2026 end. Occupational fatalities in hazardous working conditions have been one of the primary concerns for industry leaders. Governments have now adopted strict policies and initiated different programs in order to spread awareness about occupational safety. For instance, the US federal government administrator Occupational Safety and Health Administration (OSHA), initiated a program called Injury and Illness Preventive Program which was proactive initiative to help employers detect and fix workplace hazards. Such initiatives taken by governments and development of labor safety laws is leading to a heightened uptick in the demand for protective clothing fabric.
Key Takeaways of Protective Clothing Fabric Market
- Protective clothes made with laminated polyester material will hold sizeable share in terms of value and are likely to grow 2.5X more than cotton fibers material by the end of forecast period (2019 – 2026).
- Protective clothes made with polyolefin & blends are anticipated to grow at an impressive CAGR of 9.3% and will create an absolute $ opportunity of more than US$ 400 Million by the end of forecast period.
- Oil, gas and mining industries have hazardous working conditions which are giving rise to occupational fatalities. Therefore, in order to prevent accidents at the workplace, governments have introduced strict regulations. As a result, oil & gas and mining end use industries will collectively hold more than 35% value share in the protective clothing market by the end of forecast period.
- Protective clothing made with fabric with thickness of 0.08 to 0.10 inches will create an absolute $ opportunity of more than US$ 570 Mn by the end of forecast period.
- Owing to the demand for comfortable work-wear, protective clothes fabric weighing up to 17 ounces per square yard will hold value share of more than half of the total global market by the end of forecast period.
- North America and Europe will collectively account for more than 62% market value share by the end of forecast period.
“Global protective clothing market is driven by government initiatives about safety at workplace. Stiff competition among leading market players is paving way for product innovation by manufacturers in order to retain their position in the market” says Fact.MR analyst
Product Innovation and Strategic Acquisitions will Stoke Growth
Global protective clothing fabric market is highly competitive in nature. Leading manufacturers are introducing new products with enhanced properties and acquiring companies which operate in the textile industry in order to expand their capabilities to serve the market and reach new customer bases by providing a broad range of product offerings. For instance, in September 2019, Evonik – an industry leader launched a new polyamide fiber designed for the hot gas filtration industry. At the same time, in June 2019, Milliken & Company acquired Polartec LLC a manufacturer of performance protective textiles for outdoor and military apparel.
More Valuable Insights on Protective Clothing Fabric Market:
Fact.MR, in its new offering, presents an unbiased analysis of the global protective clothing fabric market, presenting historical demand data (2012-2018) and forecast statistics for the period of 2019-2026. The study divulges essential insights on the protective clothing fabric market on the basis of material, end user, thickness, weight and sales channel across six major regions.
>>> To Get more insights on protective clothing fabric market, visit- https://www.factmr.com/report/665/industrial-protective-clothing-fabrics-market
About the Retail and Consumer Goods Division at Fact.MR
Retail and consumer goods analysts at Fact.MR meticulously track broader sub-industries to keep clients abreast with recent developments in the market. Our practical approach to product design and pricing strategy provide vital inputs to businesses that are struggling to hit the ‘move-the-needle’ bottom line. The team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio along with historical, current and future market size. For more retail domain expertise, visit here.