buiFlame Retardant Fabrics Market Outlook, Report And Forecast 2024–2032
The global flame retardant fabrics market size was valued at USD 1,537.45 million in 2023 and is projected to reach a valuation of USD 1,608.10 million in 2024. The market is expected to reach USD 2,349.89 million by 2032 with a CAGR of 4.9% during the forecast period.
Flame retardants fabrics are made from special flame retardant chemicals by the process of chemical treatment. They are made to offer efficacy which makes them an ideal for various apparel and non-apparel applications. Increasing demand for these fabrics from various industries is set to drive the market growth.
The COVID-19 pandemic impacted the export and import activities globally. Lockdown restrictions led to supply chain disruptions and delays in the industrial sector.
Fortune Business Insights™ shares this information in its report titled “Flame Retardant Fabrics Market, 2024–2032.”
Source:
https://www.fortunebusinessinsights.com/flame-retardant-fabrics-market-109634
Segmentation
Non-Apparel Segment Led The Market Owing To Various Advantages Offered
On the basis of the application, the market is divided into apparel and non-apparel. Non-apparel segment led the market share owing to its wide applications in home textiles, industrial, and defense. These fabrics are strong, lightweight, resistant, and excellent resistivity which makes it ideal for numerous applications.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Rise In The Geo-Political Tensions Due To Russia-Ukraine War To Propel The Market Growth
Rise in the defense budget is set to drive the flame retardants fabrics market growth. With rise in the geo-political tensions due to Russia-Ukraine war and economic situations to increase in their defense expenditure. These situations triggered the defense spending by 9% equivalent to USD 2.2 trillion in 2023, marking it to be an all-time high. Ukraine’s defense saw an high rise by USD 31.1 billion in 2023 with Russia increasing its spending by USD 108.5 billion. These fabrics are useful in manufacturing of various products such as uniforms, combat gear, tents, sleeping bags, etc. that require flame-resistant properties.
However, improper management of the waste from the flame retardants hamper the market growth. Harmful effects associated with these retardants are also set to hamper the product adoption.
