Industrial Protective Clothing Fabrics Market: Increased Awareness about Workplace Safety in Emerging Economies to Drive Growth, TMR
The global industrial protective clothing market features a largely fragmented competitive landscape, with leading companies holding a small share of the overall market, says Transparency Market Research (TMR) in a recent report. The top three vendors in the market, namely Milliken & Company, TenCate, and Aramid collectively accounted for a 27.7% of the overall market in 2015, with small- and medium-sized regional players accounting for the rest. Recently, however, companies in the market have started resorting to consolidations through strategic acquisitions as a way to strengthen their positions in the highly competitive market. Recent instances are the acquisitions by National Safety Apparel. The company acquired DRIFIRE from Optimer Brands in June 2016 and TECHGEN from INVISTA Ashburn Hill LLC in September 2015. TMR estimates that the market will expand at a healthy CAGR of 6.8% from 2016 to 2024, rising from a valuation of US$2.2...