The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Protective Fabrics Market.
It was estimated prior to this unanticipated outbreak that the Protective Fabrics Market was expected to grow at a CAGR of 4.0%. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Fire & heat resistance protective fabrics are expected to remain the largest fabric type during the forecast period. They are used to manufacture helmets, bullet proof jacket vests, vehicle armor, footwear, and gloves for various industries, such as military and industrial. Strict government regulations regarding safety of workers in metal (steel & aluminum), energy (oil & gas), transportation (automotive and commercial vehicle), and building & construction industries in developed countries, such as the US, Germany, and the UK, and rising concern for the protection of military personnel are driving the fire & heat resistance protective fabrics market.
Building and construction industry is expected to remain the largest consumer of protective fabrics during the forecast period. The segment is largely driven by stringent government regulations regarding safety of workers in European and North American countries. Healthcare applications segment is expected to witness fast growth in the next five years. The growing end-use industry and increasing demand for safe medical treatments are some of the major growth drivers of the protective fabrics market in the healthcare industry.
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North America is expected to remain the largest protective fabric market during the forecast period. The growth of end-use industries and stringent government regulations regarding safety of workers will remain the key drivers of the North American protective fabrics market in the next five years. Asia-Pacific is expected to exhibit fast growth for the same period mainly driven by increasing demand of protective fabrics in China and India.
Key Players:
The supply chain of this market comprises raw material suppliers, fiber manufacturers, fabric manufacturers, cloth manufacturers, and end users. The key protective fabric manufacturers are 3M Company, E. I. Du Pont De Nemours and Company, Koninklijke Ten Cate NV, Teijin Limited, Kolon Industries, Inc., and W. L. Gore & Associates, Inc.
New product development, applications development, and strategic alliances are the key strategies adopted by the key players to gain competitive edge in the market.