Personal Protective Equipment Market
The global personal protective equipment (PPE) market is poised for massive growth owing to its demand in industrial and healthcare sectors. PPE suits are worn in critical situations to prevent the chances of infections or injuries during field work. The global PPE market report by Market Research Future (MRFR) provides a broad outlook of the industry and forecasts its growth trajectory for the forecast period (2020-2027). The COVID-19 pandemic and its effects have been included in the report.
The global personal protective equipment market is set to exhibit 6.32% CAGR over the forecast period. This is attributed to rapid industrialization and need for protective suits while catering to industries such as oil gas, nuclear, and others. Strict safety regulations at oil rigs and construction sites can facilitate market growth. Product customizations made to adhere to OSHA and ANSI standards can drive the market demand.
The COVID-19 outbreak has been a golden opportunity for the market with many industries not belonging to the healthcare sector volunteering to assist in production. PPE equipment has been deemed pivotal by international healthcare organizations such as WHO to protect healthcare workers from infections or injuries. The market can perform tremendously with imports of PPE kits induced in countries with grave infection rates of the coronavirus. Government initiatives to relax the duties of imports can facilitate market growth during the forecast period.
But the high manufacturing costs can hamper market growth.
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By product, the market is segmented into hands arm protection, protective clothing, foot leg protection equipment, eye face protection, respiratory protection equipment, head protection, and others. Among these, the hands arm protection segment holds the largest market share. This is to prevent hand injuries during lifting of heavy equipment and avoid hurdles during handling of corrosive chemicals.
On the basis of industry, the market is segmented into transportation, manufacturing, construction, chemicals, oil gas, food, and others. Among these, the manufacturing segment can account for the largest market share and maintain it till the end of the forecast period. This is attributed to need for protective gear during welding, casting, and others.
By hazards, the global PPE market is segmented into chemical, biological, electrical, fire, and others. Among these, the chemical segment can be a substantial revenue pocket owing to need for respiratory protective equipment against particulates, gases vapors, and biological contaminants.
North America is estimated to dominate the personal protective equipment market due to sophisticated infrastructure and adoption of latest worker safety rules in all industries. Adherence to rules specified by American National Standards Institute (ANSI), International Safety Equipment Association (IESA), and others coupled with a large workforce in healthcare and industrial sectors can drive the regional market demand.
The APAC PPE market is deemed to display a robust growth rate during the forecast period owing to government protocols for worker safety and growing chemicals and electronics sectors. Recently, New Zealand send a consignment of PPE supplies to the island of Fiji to alleviate the stress faced by healthcare workers.
Honeywell International Inc., 3M, Alpha Pro Tech, MSA, Kimberly-Clark Worldwide Inc. (KCWW), Metric AG Co. KG., Delta Plus Group, Lakeland Inc., Radians Inc., ANSELL LTD, DuPont, and Sioen Industries NV are key players of the personal protective equipment market. Investments in coatings to increase the protection of the suits is on the primary agenda of players.
Grafton Group Plc is expected to acquire IKH, a PPE maker in Finland. The move will give the company to spread its wings in the country.