Protective Clothing Market Share, Size, Global Industry Analysis, Key Growth Drivers Trends, Segments, Opportunity and Forecast 2027
According to Fortune Business Insights™, the study further states that, the global protective clothing market size was USD 12.48 billion in 2019 and is projected to reach USD 34.31 billion by 2027, exhibiting a CAGR of 14% during the forecast period.
The protective clothing market is anticipated to be driven by the rising government norms worldwide to maintain workplace safety, especially in the manufacturing, food processing, construction, healthcare, and chemical industries. Also, the increasing cases of accidental injuries and mortalities would affect the market positively.
The study further states that the protective clothing market size was USD 12,481.0 million in 2019 and is projected to reach USD 34,316.9 million by 2027, exhibiting a CAGR of 14% during the forecast period.
Fortune Business Insights™ lists out the names of all the organizations present in the global protective clothing market. They are as follows:
- Honeywell International Inc. (U.S.)
- Lakeland Inc. (U.S.)
- W. L. Gore & Associates, Inc. (U.S.)
- PBI Performance Products, Inc. (U.S.)
- TenCate Protective Fabrics (U.S.)
- Kimberly-Clark Corporation (U.S.)
- Ansell Microgard Ltd. (U.K.)
- DuPont (U.S.)
- Bennett Safetywear Ltd. (U.K.)
- TEIJIN LIMITED (Japan)
- Udyogi (India)
- Sanctum Work Wear Pvt. Ltd. (India)
- Derekduck Industries Corp. (Taiwan)
- Protective Industrial Products (PIP) (U.S.)
- Other prominent companies
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the market during the forecast period.
Drivers & Restraints-
The Effects of Covid-19 Pandemic on the Market
- In the healthcare environment, there is a rising demand for protective clothing to prevent contamination from various sources.
- Healthcare workers are persistently working to control the rate of infection by correctly disposing and laundering the clothing.
- The demand for surgical gowns, coveralls, and isolation gowns has upsurged rapidly from the healthcare sector to prevent the transmission of microorganisms through blood or bodily fluids in themselves, as well as the patients.
- The Directorate General of Health Services, Ministry of Health and Family Welfare, OSHA, and World Health Organization (WHO) implemented new set of rules to be followed by the workers of primary health care centers, quarantine centers, laboratories, point of entries (POEs), and hospitals.
Regional Analysis-
North America to Dominate Fueled by Strict Laws by OSHA Regarding Workers’ Safety
The market is regionally categorized into the Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. Out of these, North America procured USD 4,677.9 million revenue in 2019. It is set to dominate throughout the forecast period. This growth is attributable to the rising number of stringent norms put forward by the Occupational Safety and Health Administration (OSHA) to ensure workers’ safety. The organization has formed certain safety standards associated with industrial disasters, such as manufacturing machinery failures, fires, and others. Asia Pacific would grow rapidly backed by the rising rates of occupational accidents in the developing countries, such as South Korea, India, and China.
Segment-
Rising Usage of Protective Clothing to Prevent Injuries will Drive the Chemicals Segment
Based on end use, the market is fragmented into oil & gas, firefighters, chemical, pharmaceutical, and others. Amongst these, the chemical segment is expected to procure the largest share owing to the increasing usage of protective clothing in the chemical industry for preventing injuries caused by hazardous chemicals, such as cleaning agents, degreasers, and paints. Besides, workers in several industries are nowadays exposed to various types of toxic chemicals. The oil & gas segment, on the other hand, held 13.5% protective clothing market share in 2019.
Competitive Landscape-
Key Manufacturers Aim to Enhance Portfolio through Acquisitions
A large number of manufacturers and distributors are mainly focusing in the development of more sustainable and recyclable materials for a wide range of industries. They are also adopting the set of norms provided by government agencies worldwide. In addition to that, they are following the strategy of mergers and acquisitions to broaden their product portfolio & serve their consumers better.
Below are two of the latest industry developments:
- March 2020: Lakeland Industries, Inc. augmented its previously planned expansion of the manufacturing capacity by 30%. Since the past couple of years, it has invested around USD 6 million to widen its manufacturing footprint into India and Vietnam, increase margins, improve efficiencies, as well as add and update IT systems. The company decided to upsurge production because of the outbreak of the Covid-19 pandemic.
- February 2019: Protective Industrial Products, Inc. (PIP) successfully acquired West Chester Protective Gear. This new deal would solidify PIP’s position in the global market in North America. It would be able to deliver the retailers and distributors in the safety industry with a broad product portfolio that includes more flexible solutions.
Browse Summary of This Research Report:
https://www.fortunebusinessinsights.com/protective-clothing-market-102707
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