The report by Fact MR delivers an in-depth analysis of numerous factors that influence the global personal protective equipment market. It includes opportunities, drivers, restraints, and new trends. This report further investigates deeper into the key observations regarding prominent growth parameters like equipment type, end use industry, and regions.
Rockville, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Fact.MR – A Market Research and Competitive Intelligence Provider: The global personal protective equipment (PPE) market expanded at a 4.8% CAGR during the historic period from 2015 to 2021. Sales of personal protective equipment totaled US$ 51.5 Billion in 2021 and are projected to surpass US$ 53 Billion by the end of 2022. Safety Goggles And Gloves
Adoption of the stringent regulatory outlines for employees and worker safety has improved the demand for personal protective equipment. With increasing awareness towards the employee safety, the need for protective gear is the key factor facilitating the demand in the PPE market.
Personal protective equipment is considered to be the safest option that can help employees to safeguard themselves from unwanted accidents, especially for labors working in construction and Hospitality industry. The need for these safety measures was further intensified during the COVID-19 pandemic, as it helped the workers and the citizens to be safe from the virus.
PPE manufacturers are innovating novel products to combat skin, facial, and respiratory injuries while working in industrial environments to gain a competitive edge. Based on the above factors, the personal protective equipment marketplace is expected to grow almost double during the forecast period, exceeding US$100 Billion by 2032.
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Further, growing awareness of occupational health and safety coupled with increasing number of industrial fatalities are fueling the growth. Helmets, safety shoes, protective clothing, safety goggles, goggles, earplugs, protective gloves, and body harnesses are commercially available, especially on online platforms at cost-effective prices. Hence, key players are collaborating with e-commerce giants such as Amazon, e-Bay, and Alibaba to capitalize on the growing demand.
Increased workplace fatalities and hazards are necessitating the adoption of personal protective equipment (PPE) to safeguard personal safety among workers. For example, according to IOGP i.e., International Oil and Gas Producers Association, the fatality rate from accidents in the oil and gas business decreased by 8.1% from 33.5% in the year 2017 to 31.7% in the year 2018 decreased.
Hence, key companies are investing in developing protective equipment and are also offering favorable initiatives to expand their customer base. For instance, the Kimberly-Clark Company donated his 1 million face masks & various cleaning products to a public school in the city of Roswell, USA in May 2021.
North America is anticipated to lead international sales with over 29% of total share.
The U.S. and Canada are expected to be at the front of occupational health and safety, emerging as lucrative markets for personal protective equipment manufacturers.
Asia-Pacific PPE market is projected to rise at a CAGR of 6.5% during the forecast period (2022-2032).
Hand and arm protection, based on product type, will account for 1/4th of total sales on the back of rising application in construction & the mining projects.
In terms of end use industry, the pharmaceutical sector is expected to account for 30% of revenue share in the market.
Rising workplace fatalities coupled with increased awareness of work-related health and safety measures among workers and manufacturers will drive growth in the market.
With growing prevalence of hospital acquired infections, the demand for different protective gear, from clothing to ventilators will bolster the growth.
Availability of low quality personal protective goods might limit the sales.
Lack of awareness regarding the safety of workers in mining and other hazardous places, especially in emerging economies, might impede the growth.
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Competitive Landscape: Market leaders are focusing on improving their client base abroad by introducing new products and expanding their manufacturing capacities. These companies also rely on strategic joint initiatives to upsurge their share and effectiveness. Though, thanks to the technological progressions and merchandise innovations, small and medium enterprises (SMEs) are expanding their presence by signing new agreements.
In 2022, 3M announced a growth to its Valley, Nebraska facility. The business has invested approximately $58 million to stock an 80,000-square-foot expansion that is anticipated to create roughly 50 new jobs. The factory will manufacture respiratory protection and hearing protection merchandise.
In 2020, Honeywell International Inc. collaborated with the Carolina Panthers of the NFL & Honeywell International Inc. to provide customized packages of personal protective equipment for the Panthers fans and workforce. The company announced that it will create a safer stadium experience by providing a quality of Monitoring solution via real-time custom dashboards for building health.
Key Companies Profiled by Fact.MR
EI du Pont de Nemours and Company
Avon Rubber P.L.C
Mine Safety Appliances (MSA) Company
More Valuable Insights on Personal Protective Equipment Market In its latest research, Fact.MR highlights key features expected to improve the growth of the personal protective equipment market over the forecast period (2022-2032). The study also offers an in-depth study of the openings and drivers expected to drive sales of personal protective equipment through detailed subdivision as follows:
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Key Questions Covered in the Personal Protective Equipment Market Report
Which are the issues faced by the personal protective equipment (PPE) market?
What is the anticipated market estimate of the PPE market in 2023?
Which are the factors that are influencing the sales of PPE in the year 2022?
What will be the demand outlook for the Personal Protective Equipment market during the forecast period?
Which region will lead the growth in the Personal Protective Equipment market during 2022-2032?
Which end use industry will generate maximum revenue in the Personal Protective Equipment market?
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