Newark, NJ, Jan. 23, 2020 (GLOBE NEWSWIRE) -- The global Personal Protective Equipment market is expected to grow from USD 45.27 Billion in 2017 to USD 73.80 Billion by 2026 at a CAGR of 6.3% during the forecast period 2019-2026, according to the new report published by Fior Markets. Adoption of stringent regulatory framework for workers’ protection is driving the market for personal protective equipment. Personal protective equipment is used to protect against health risks in hazardous work environment which is boosting the market growth over the forecast period.
Personal protective equipment, commonly referred to as "PPE," is equipment worn to minimize exposure to hazards causing serious injury and illness in the workplace. Such injuries and illness may result from contact with chemical, radiological, physical, electrical, mechanical or other hazards in the workplace. Personal protective equipment may include items such as gloves, safety glasses and shoes, etc.
Rising demand for respiratory protective equipment to ensure the safety of employees working in oil and gas, petrochemicals and mining sectors is expected to drive the growth. However, complex manufacturing methods and high raw material costs may hamper the market growth.
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Key players operating in the global Personal Protective Equipment market include 3M Co., Alpha Pro Tech, Ltd., Ansell Limited, Avon Rubber PLC, Cordova Safety Products, Delta Plus Group, Dynamic Safety Europe B.V., E I Dupont De Nemours and Co., Honeywell International Inc., Kimberly-Clark Corporation, Lakeland Industries, Inc., Lindstrom Group, Mcr Safety Inc., Moldex-Metric AG & Co. Kg., National Safety Apparel, Pan Taiwan Enterprise Co., Ltd. , Radians, Inc., Saf-T-Gard International, Inc., Sioen Industries NV and W.W. Grainger, Inc. among others. To enhance their market position in the global bakery premixes market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance in May 2016, Honeywell International Inc. launched a range of single use, moulded masks. The product is used in general industrial and construction industries.
- For instance, in October 2015, 3M doubled its safety gloves portfolio with the addition of three new gloves. The products are used in construction and electrical industries.
- Also, in September 2014, Kimberly-Clark Health Care, a subsidiary of Kimberly-Clark, launched innovative AERO BLUE performance surgical gown. AERO BLUE features a proprietary fabric with innovative core technology that helps to deliver the highest fluid protection.
- For instance, in November 2019, Ansell Limited announced a partnership with ProGlove, a provider of industrial wearables, to develop hand protection solutions utilizing technology to ensure the right personal protective equipment (PPE) compliance in the workplace. This cooperation highlights industrial Internet of Things (IIoT) innovation in scaling Ansell PPE and striving to create a safer work environment. Ansell and ProGlove are working for a breakthrough in enterprise safety management by combining smart PPE to address customer frustrations. This is intended to provide millions of workers the digital assistance for choosing the right protective equipment while providing assurance for managers that tasks are being properly executed using proper safety equipment.
- For instance, in August, 2019 Avon Rubber announced that it has signed an agreement to acquire 3M's ballistic-protection business (the "Business") and the rights to the Ceradyne brand. The acquisition of 3M's ballistic-protection business is an important strategic step for Avon. The Business is a high-quality business, backed by proprietary technology, established contract platforms and well invested manufacturing operations. The combination of the Business and Avon will significantly strengthen their technology and their personal protection product offering to an enlarged customer base, thereby accelerating the long-term growth prospects for the Group.
The hands & arm protection segment had a market value of around USD 9.73 billion in 2018
The type segment is divided into hands & arm protection, protective clothing, foot & leg protection, respiratory protection, eye & face protection, head protection and others. The hands & arm protection segment emerged as the leader in the global personal protective equipment market with a revenue of USD 9.73 billion in 2018. Risks associated with corrosive chemicals, heavy-duty equipment and handling warm objects are likely to propel the demand for protective gloves in construction, healthcare, food processing, oil and gas, and metal fabrication industries.
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The manufacturing segment is anticipated to grow at a CAGR of around 6.6% in 2019-2026
The end-use industry segment includes manufacturing, construction, oil & gas, healthcare, transportation, firefighting, food and others. The manufacturing segment is anticipated to grow at the highest CAGR of around 6.6% over the forecast period because strong growth in manufacturing activities mainly in developing economies from Asia Pacific and Central and South America is anticipated to boost the demand for employee protection products, thereby driving the demand for personal protective equipment in the manufacturing segment.
Regional Segment Analysis of the Personal Protective Equipment Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region led the global personal protective equipment market with a revenue of USD 14.12 billion in 2018. The region is characterized by increasing workplace fatalities and stringent regulations imposed by regulatory bodies such as OSHA, thereby boosting the product demand. The Asia Pacific market is predicted to be the fastest-growing region in the forecast period. This rise has resulted due to the expansion of transportation sector, increase in production and a rapid growth in the construction sector.
About the report:
The global personal protective equipment market is analysed on the basis of value (USD Billion), volume (Units), consumption (Units), imports (Units) and exports (Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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