Market Research Report
|Published by||Global Industry Analysts, Inc.||Product code||939828|
|Published||Content info||275 Pages
Delivery time: 1-2 business days
|Published: July 1, 2020||Content info: 275 Pages||
Unemployment in Manufacturing Rises. Protective Clothing Market Slumps by$1.4 Billion in 2020
The global market for Protective Clothing is projected to reach US$13.1 billion by the year 2027, after recording US$1.4 billion erosion in market value in the year 2020.Amid ongoing rampage of Covid-19 pandemic, it requires very little speculation to measure the pandemic's impact on manufacturing & process industries. In the United States alone over 80% of manufacturers are bracing for losses as the pandemic rages on in the country with infections rates totaling to a frightening 3.3 million. The impact on manufacturers will mean crunch on capital resources; workforce layoffs/reduction and loss in productivity; supply chain disruptions; difficulties with funding; and increase in cybersecurity risks and fraud. Unlike IT services where work is being carried out remotely via internet and cloud platforms, for the manufacturing industry, plant activities and production cannot be carried remotely and therefore remains worst affected. The slower economic activity means reduced demand for industrial and consumer goods and lower manufacturing orders. Plant closures both full and partial are expected to continue into the coming weeks. Manufacturers, especially electronics and automotive producers with complex supply chains will be hard hit as transportation, trade and movement of goods continue to remain crippled. Several vectors of manufacturing have been severely impacted except for production of critical public healthcare products such as drugs, gowns, masks, gloves, hand sanitizers, ventilators and other hospital ICU equipment.
With the commercial aerospace industry collapsing under the travel bans and restrictions, aircraft manufacturing is set to receive the worst ever setback sending knock-on effects across the upstream supply chain. As the momentum in the industrial sector is largely reliant on level of industrial activity, which in turn is influenced by the tide in global economy, the negative economic environment therefore is likely to curtail momentum in the protective clothing demand from all sectors other than healthcare, in the immediate term. A major end-use market, the badly affected chemical industry is disrupting market opportunities for protective clothing. Similar to the chemicals industry, all sectors of the manufacturing & process industries remain equally impacted including, oil & gas, energy & automotive. Closed plants & worker layoffs are wielding a direct & devastating blow on demand for worker safety apparel. As financially distraught companies struggle to stay afloat amid the dual health & economic crises, it's a long and bumpy road to recovery.
Protective clothing is referred to as specialized garments that play major role in ensuring worker safety, particularly in hazardous working environments, to minimize accident and fatality rates. The clothing is a part of the larger personal protection equipment (PPE) market that mainly includes disposable and durable products with different applications. Protective clothing protects the wearer against occupational hazards and effects of asbestos, bruises, chemicals, cuts, dry particles, electric arc flash, fire, flame, intense heat, lead and mold. The clothing is specifically designed to offer protection from toxic fumes, chemicals, heat and radiations that bring potential health risks like skin irritation, loss of vision, pulmonary ailments and cancer. Since these factors are routinely faced by workers during processing and manufacturing operations, they are required to wear protective clothing as effective safety measure. Protective clothing is used in various industries including agriculture, automotive, chemical, food processing and oil & gas.