worldwide protective textile market is predicted to reach approximately USD 8,802.2 million by 2026, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2017-2026.
Key findings of the protective textile market report are listed below:
- In terms of end user, the manufacturing & construction market segment held the majority share of the global revenue, in the year 2017.
- Based on regional distribution, Europe region amassed the biggest share of the global market, in 2017.
- The surging need to offer enhanced safety at workplace is the primary growth propeller of this business sphere.
- Introduction of strict government regulations pertaining to workplace security, and rising demand for protective textiles from various industries boosts market growth.
- Surging investments in research and development, and initiatives undertaken by market majors to introduce revolutionary products to meet the growing demands of customers augment industry growth.
Speaking of market challenges, the report cites that high costs associated with protective textiles will restrict the growth of the market. Emerging new markets, technological developments, and utilization of phase change substances would offer ample market growth opportunities in the upcoming years.
As per the report, with global labor protection standards becoming stricter, utilization of protective textiles has surged multifold across a range of industries. Lately, protective textiles are widely used across several unsafe and dangerous work settings such as mining sites, healthcare centers, chemically hazardous regions, and battlefields among others. These textiles allow workers to avoid dangers and lessen the count of workplace accidents.
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Speaking of regional segmentation, Europe held the biggest share of the global market in the year 2017. This growth can be attributed to stringent government regulations regarding workplace safety in this region. In addition to this, the surging demand from manufacturing & construction verticals has expedited the implementation of protective textiles in the European market. The report also cites that Asia-Pacific is projected to develop at the maximum rate over the predicted timeframe on account of surging industrialization and flourishing manufacturing sector. Increasing demand from chemical, mining, and healthcare industries would support market progression in the region. Industry contenders have been attempting to expand their footprint in emerging economies like Japan, China, India, Malaysia, and Indonesia to utilize the lucrative growth opportunities available in these nations, cites the report.
The end-user landscape of the market includes healthcare, manufacturing & construction, defense, oil & gas, mining, emergency services, space exploration, and others. The report cites that the manufacturing & construction segment is anticipated to dominate the global market over the projected period due to high-risk work surroundings and strict government regulations with respect to workplace safety.
The leading organizations profiled in the research study include Kimberly Clark Corp, Royal Tencate NV, Marina Textil S.L., ARGAR S.r.l, DyStar Group, W. L. Gore & Associates, Inc., Milliken & Company, E. I. Dupont De Nemours and Company, Teijin Limited, Honeywell International Inc., 3M Company, and Ansell Limited. These market majors introduce new products and collaborate with other market leaders to innovate and introduce new products to meet the rising needs and requirements of customers.