Industrial Protective Clothing Fabrics Market
REPORT DESCRIPTION
Industrial Protective Clothing Fabrics Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016- 2024
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.
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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. 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
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