The global flame retardant fabrics market is growing at a CAGR of 67% from 2013 to 2020. The market’s value in 2012 was US$3.12 billion and this number will expand to US$4.87 billion in 2020. The global flame retardant fabrics market has gained a much larger reach in comparison to its initial end-use segments.
Growing Health Concerns Push Governments to Increase Regulations
Perhaps one of the biggest growth factors for the global flame retardant fabrics market is the rise in the number of restrictions and regulations that governing bodies are imposing to protect both civilians and government workers. For example, suits meant to be worn by firefighters are inherently flame retardant and thus have to be approved by the National Fire Protection Association (NFPA), the Occupational Safety and Health Administration (OSHA), and acknowledged by the Industrial Fabrics Association International (IFAI)
Another body that can regulate the usage and standards of the global flame retardant fabrics market is Technical Textile and Nonwoven Association (TTNA). Each organization has a certain amount of control over the global flame retardant fabrics market in order to maintain quality control.
How Top Players are Moving Ahead in Global Flame Retardant Fabrics Market
In the list of key companies that operate in the global flame retardant fabrics market, we have Toyobo Co., Ltd., Teijin Aramid BV, Solvay S.A., Lenzing AG, Kaneka Corporation, Huntsman Corporation, Gun Ei Chemical Industry Co., Ltd., PBI Performance Products, TenCate, Milliken & Company, and E.I. du Pont de Nemours and Company.
Another name that is setting trends in the global flame retardant fabrics market is Alexium International, an Australian company with its headquarters in Perth. The company has a trademarked fire retardant finish that it has named “Alexiflam”. The company has proven its worth by becoming one of the best performers in the Australian Securities Exchange after displaying a meteoric rise in the past year. The company shares in August 2015 closed on a new high of 98¢, making it a top ranking company in the global flame retardant fabrics market. Alexium operates out of the U.S. and is now well-known for its environment-friendly flame retardant chemicals for textiles.
The Few Problems that the Global Flame Retardant Fabrics Market Faces
Not all textiles that are flame retardant are washable. However, inherently, flame retardant textiles are washable, as their flame retardant property lies in the fiber itself. On the other hand, textiles on which flame retardant finishing agents have been applied are meant to be dry-cleaned, using non-liquid means only. Using liquids aid in the fading of the finishing agent, as most of them are soluble in liquids.
Browse Press Release
Although it is a market for necessary goods, the global flame retardant fabrics market is still met with a few obstacles. The greatest restraint on this market is the high cost of flame retardant materials. It is difficult to incorporate such textiles and finishing agents wherever required, due to either budget constraints or a plain lack of awareness. The market’s growth was not as fast as previously expected. All in all, the market’s growth prospects in law enforcement and firefighting have currently slowed down, while it is picking up steam in the transport sector due to the availability of a broader range of flame retardant products.