Personal protective equipment (PPE) includes safety spectacles, protective helmets, fall protection equipment, respiratory protection equipment, head protection equipment, safety footwear, protective clothing, hearing protection, protective gloves, and faceshields amongst others. PPE is widely adopted across several end-use industries such as construction, manufacturing, and chemical among others to ensure protection of workers from hazards which may cause serious injuries or impairments. The global personal protective equipment market is estimated to be valued at US$ 65.08 Bn in 2023 and is expected to exhibit a CAGR of 3.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing regulations for personal safety across several industries has emerged as a key trend propelling the growth of the personal protective equipment market. Stringent occupational safety standards and regulations enforced by organizations such as Occupational Safety and Health Administration (OSHA) have compelled manufacturing units and other industries to make PPE compulsory for workers. According to OSHA, employer is responsible for providing PPE to employees if a hazard is present, or likely to be present, which causes serious injury or impairment of any bodily function. Non-compliance with such stringent regulations can invite penalties. Hence, to comply with regulations as well as ensure safety of workers, adoption of PPE has increased significantly across industries in recent years. This growing focus on worker safety through implementation of stringent workplace safety standards has accelerated the demand for PPE over the forecast period.
Segment Analysis
The global personal protective equipment market size is segmented based on type and end-use industry. Based on type, the industrial protective clothing segment is expected to dominate the market during the forecast period. Industrial protective clothing offers protection against various hazards such as chemical and thermal risks that may arise in industries such as oil & gas, construction, manufacturing, etc. Based on end-use industry, the construction segment is expected to be the largest dominating segment. The construction industry involves risks such as falls, flying debris, electric shocks, chemicals, and fire. Hence, construction workers require protective equipment such as boots, helmets, gloves, eye protection, high-visibility clothing, etc. for safety.
Key Takeaways
The global personal protective equipment market is expected to witness high growth during the forecast period of 2023-2030. Rapid industrialization and stringent worker safety regulations across various industries are projected to drive the demand for personal protective equipment.
Regional analysis: North America dominates the global personal protective equipment market and is expected to continue its dominance during the forecast period. Stringent worker safety policies and growing awareness regarding workplace safety are the key factors contributing to the largest share of North America.
Key players: Key players operating in the personal protective equipment market are Arkema Group, DowDuPont Inc., Ensinger GmbH, Evonik Industries AG, UBE Industries Inc., Techmer PM LLC., Invista, EMS-Chemie Holding AG, RTP Company Inc., Toray Industries Inc., Formulated Polymers Limited, and Merck KGaA.
Get more insights on this topic: https://www.newsstatix.com/personal-protective-equipment-market-share-and-opportunity-analysis/
Explore more information, Please visit: https://masstamilan.in/shipbuilding-an-ancient-industry-still-dominating-global-trade/
Comments
0 comment