PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1339910
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1339910
According to Stratistics MRC, the Global Personal Protective Equipment Market is accounted for $80.8 billion in 2023 and is expected to reach $127.3 billion by 2030 growing at a CAGR of 6.7% during the forecast period. Personal protection equipment (PPE) is specialised gear used to reduce exposure to numerous risks that could result in illness or injury. In order to protect the face, eyes, ears, head, and feet, it includes gloves, masks, respirators, safety glasses or goggles, face shields, protective clothes, hard hats, and safety shoes. It is constructed from a variety of strong, lightweight, and chemically resistant raw materials, including metals, nylon, polyester, and rubbers. It is utilised in settings like workplaces, hospitals, and other areas where people may be exposed to dangers like radiation, chemicals, biological agents, or physical dangers.
According to WHO estimates, to meet the rising global demand, manufacturers are increasing the PPE production by 40%. According to the U.S. Bureau of Labor Statistics, around 5,250 workers died from a work-related injury in 2018.
Significant prospects exist for industry participants in personal protective equipment in emerging economies. These nations' rapidly ageing populations, large patient populations, rising per capita incomes, and expanding public awareness are the key factors driving the need for enhanced healthcare services in these countries. New diseases and a growing middle-class population are increasing demand for healthcare and health insurance. In terms of the hospital industry's employment of face masks, face shields, protective clothes, protective gloves, and other personal protective equipment, this is a positive development.
Manufacturing comfortable, multipurpose personal protection equipment is one of the biggest difficulties facing the industry. Customers want equipment with greater features due to the evolving nature of applications. Customers are concentrating on purchasing multipurpose, multi-purpose fire-resistant protective apparel. The current challenge in the industry is to employ the right materials and textiles to make protective clothing and gloves more comfortable for the wearers without sacrificing their functionality.
The market is stimulated by rising industry fatalities and rising awareness of worker safety and health. The market comprises emergency escape tools, full-body harnesses, earplugs, goggles, protective gloves, and safety footwear and clothes. Workers are now required to use personal protective equipment in order to safeguard people from workplace risks or fatality rates that are on the rise. To preserve a healthy workplace environment, numerous compliance-consulting companies also offer recognised certifications and exams for proper product usage.
The sale of inferior, low-quality, and affordable items along with a lack of customer understanding of occupational dangers could stifle market expansion. In addition, the threat posed by duplicative, subpar, and alternative items could impede the expansion of the market for industrial safety footwear. To combat such an unorganised market, regulatory authorities have developed rigorous and severe quality inspections for these products.
The COVID-19 epidemic is rapidly engulfing nations and regions, having a profound effect on the supply chain at every level. The PPE market's supply chain has not been able to keep up with the soaring demand. Additionally, supply and logistics issues have received attention, including a prohibition on exports for the products and other essential resources. Governmental organisations adopted new PPE product standards and regulations in response to the epidemic, which presented significant difficulties for producers and distributors. It was crucial to comply with these laws; therefore many manufacturers had to change how they operated to satisfy the new standards.
The hand protection segment is estimated to have a lucrative growth, due to rising fatalities in the workplace and high product demand. These are worn to shield hands against chemical reactions, abrasions, wounds, and burns. The demand is being supported by factors like their high performance, improved quality, high wear and tear, etc. that are contributing to an increase in accidents, deaths, and injuries. The market is expected to rise as a result of rising industrial deaths, particularly in developing nations, and growing awareness of worker safety and health.
The manufacturing segment is anticipated to witness the fastest CAGR growth during the forecast period, owing to heightened construction activities. This is explained by the fact that the sector deals with serious injuries. In order to protect oneself from fumes and oxides, protective respirators are also employed. In order to protect oneself from radiation, hot slags, chemical burns, sparks, and flying particles during welding, one must wear a helmet, flame-resistant protective clothes, goggles, and a hand shield.
Asia Pacific is projected to hold the largest market share during the forecast period owing to significant economic development and industrialization across the region. The application of government policies pertaining to smart and energy-efficient building technology may cause a trend upward in the construction and building sector. Employers should be encouraged to adopt in a variety of end user sectors due to a number of variables, including the high expense of compensation and an increase in workplace fatalities.
Europe is projected to have the highest CAGR over the forecast period, owing to a developed industrial platform along with rising adoption of products in the various sectors. A rigorous regulatory framework with harsh penalties for non-compliance is blamed for the high product penetration across European nations, encouraging businesses to frequently employ PPE. The demand for safety gloves in the food and beverage industry is expected to expand.
Some of the key players profiled in the Personal Protective Equipment Market include: 3M, FallTech, Honeywell International Inc., Avon Rubber plc, Delta Plus Group, Lakeland Industries Inc., Mallcom Ltd., Lindstrom Group, COFRA S.r.l., Polison Corp., Ansell Ltd., DuPont, Mine Safety Appliances Company, Radians, Inc., Alpha Pro Tech Limited, Uvex Safety and Gateway Safety, Inc.
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.