NEW YORK, May 18, 2018 (GLOBE NEWSWIRE) — The global personal protective equipment (PPE) market is projected to witness a CAGR of 6.6% over the forecast period. The industry is likely to expand from USD 43.2 billion in 2017 to USD 67.6 billion by 2024. The growth can be primarily attributed to the augmenting workplace safety concerns for employees. This has promoted the use of protective clothing and equipment across several industrial applications. Also, significant growth in the demand for multipurpose equipment from a diverse range of industries has fueled market growth over the years to come.
Furthermore, numerous mandatory safety regulations imposed by international organizations such as NFPA, OSHA and NIOSH are expected to positively influence the market demand. Research and development is underway so as to cater to the requirements of employees to find a perfect fit. Key players have been trying to address such issues through good product design, using right materials, high visibility and matching the PPE to job specifications so that it provides complete comfort to the wearer.
Manufacturing segment accounted for the major share of the market due to growing manufacturing activities around the globe
Protective equipment finds its application in a varied number of industries including construction, chemicals, manufacturing, healthcare, oil & gas and many more. This may be in the form of hand protection equipment, head & face protection or other protective clothing. Among all the end-use industries that PPE caters to, manufacturing segment held the largest share of the global market. Growing manufacturing activities around the world, particularly in emerging economies, has fostered growth over the coming years.
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PPE Market – Regional insight
Asia Pacific is likely to emerge as the fastest growing region owing to the rising manufacturing as well as construction activities in Japan, China, and India. Moreover, “Make in India” initiative by the Indian government is projected to have a positive impact on the market. However, Europe has emerged as the largest regional market considering the increase in demand for protective gears in metal manufacturing as well as automotive applications.
Key findings from the report:
- The global personal protective equipment market is likely to reach USD 67.6 billion by 2024
- Manufacturing segment accounted for the major share of the market in 2017, and the trend is expected to continue over the forecast period
- Construction segment emerged as the fastest growing end use industry from 2018 to 2024.
- Asia Pacific is projected to witness the highest CAGR over the forecasted period, on account of increasing construction and manufacturing activities in the region.
- Some of the key companies operating in the industry include Alpha Pro Tech Limited; 3M; Honeywell International Inc.; Ansell; DowDuPont Inc; Avon Rubber p.l.c.; Cofra S.r.l.; SIOEN N.V.; Delta Plus; Lindstrom Group; Uvex Group; and Polison Corporation; among others.
- As of February 2018, Ansell, a global leader in protection solutions, introduced the GAMMEX PI Glove-in-Glove System. The new technology offers faster as well as easier double gloving while being durable and helps in quick glove breach detection.
The report segments personal protective equipment market on the basis of product, end-use and region.
- Protective Clothing
• Chemical defending garments
• Flame retardant apparel
• Mechanical protective clothing
• General use protective clothing
• Other protective clothing
- Head and face protection
- Hearing protection
- Respiratory protection
• Disposable respirators
• Reusable respirators
- Fall protection
- Protective footwear
- Hand Protection
• Disposable gloves
• Durable gloves
- Oil & Gas
- Food & Beverage
- North America
- Central & South America (CSA)
- Middle East & Africa (MEA)
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