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Home / News / Industrial protective clothing fabrics to grow at 7% CAGR
Industrial protective clothing fabrics to grow at 7% CAGR
The global industrial protective clothing fabrics market is expected to grow at a compounded annual growth rate (CAGR) of about 7 per cent from 2019 to 2027, according to Transparency Market Research, which recently said factors like implementation of strict safety regulations and growing consciousness and awareness in the industrial sector are set to keep the market on a high growth curve. From nearly $2.3 billion in 2018, the market worth will cross $4.2 billion by 2027, TMR said.
"Need for effective protection in terms of clothing in oil and gas industry is high and this is leading players to focus on innovation, paving way for growth in the global industrial protective clothing fabrics market," TMR said in a press release.
Protective clothing for women are gathering steam as so far there is a dearth of good alternatives. A fast growing lucrative regional market over the forecast period would be the Asia Pacific (APAC), it said.
India, China and the ASEAN countries will offer notable growth opportunities to market players.
Europe will demonstrate decent growth over the next few years owing to presence of high safety standards and of strong players, it added.
Fibre2Fashion News Desk (DS)
The global industrial protective clothing fabrics market is likely to grow at a compounded annual growth rate (CAGR) of 7 per cent from 2019 to 2027, according to Transparency Market Research, which said factors like implementation of safety regulations and growing awareness in the industrial sector are set to keep the market on a high growth curve.