Global Personal Protective Equipment Market Outlook Report 2023: A 34.38 Billion market by 2028 - PPE Market Players Innovate and Collaborate for Enhanced Safety
DUBLIN, Aug. 29, 2023 /PRNewswire/ -- The "Personal Protective Equipment Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global personal protective equipment market is expected to reach a value of $34.38 billion by 2028 from $22 billion in 2022, growing at a CAGR of 7.73% from 2022 to 2028
North America held the largest revenue share in the global personal protective equipment market in 2022, accounting for over 33%. The market growth was primarily owing to its well-developed industrial infrastructure and widespread adoption of products across various sectors. The strict regulatory environment and severe penalties for noncompliance in North American countries have led to high product penetration and regular usage of personal protective equipment (PPE).
Key players in the personal protective equipment [PPE] market actively focus on product innovation, forming joint ventures, and engaging in mergers and acquisitions. These strategies aim to enhance the quality of personal protective equipment (PPE) through innovations in design, materials, and manufacturing processes.
Subsequently, there has been a considerable increase in the demand for PPE. For example, in November 2022, healthcare company Vizient and Safe Source Direct, LLC collaborated to provide chemo-rated nitrile gloves, ensuring a secure supply chain for medical supplies, including medical gloves.
MARKET TRENDS & OPPORTUNITIES
Growing Concerns Related to Industrial Incidents
Workplace hazards cause severe injuries with chemical, electrical, physical, and other components. Therefore, the use of PPE has been intensified across geographies to reduce the number of accidents at workplaces. Since PPE acts as a barrier between the workers and the hazardous elements during work in industries.
Emerging Demand for Packaged Food
Consumers expect several conditions to be met regarding their food purchases, including cleanliness, quality, and cost, to help protect customer safety and satisfaction. Further, companies within the food service industry must make sure that any employees indulged in the handling, preparing, processing, and transporting food products are using appropriate food industry workwear, food safety, and proper hygiene techniques. This also helps protect companies' brand reputations. Further, the appropriate type and use of PPE are the most essential factors.
Growing Healthcare Industry
Healthcare is a growing sector in which the norms of biotechnology are applied to the development of drugs. Genetic testing is a method of medical testing that stipulates the changes in an organism's chromosomes, proteins, or genes. A genetic test result could verify or exclude an anticipated genetic condition or help assume a person's chance of developing or endorsing a genetic disorder. Hence such reasons are propelling the growth of the personal protective equipment [PPE] market during the forecasted period.
Emerging Construction Industry
The construction workers must be the ones most prone to a construction accident. These hazards include injury to the eye, limbs, and other body parts and worker fatalities. To reduce injuries from such accidents, the worker must wear gloves, safety goggles, knee pads, hard hats or helmets, earmuffs, respirators, and vests whenever needed. Hence, propel the personal protective equipment market growth owing to the rising workers' safety in the construction industry.
SEGMENTATION INSIGHTS
INSIGHTS BY PRODUCT
The reusable PPE segment dominates the global personal protective equipment market owing to its features, such as being consumed numerous times and made with good-quality materials for repeated use.
The rising awareness of sustainability across the globe has significantly raised the demand for reusable products, as the use of disposable PPEs on a global scale has caused problems when it comes to waste and pollution.
However, the disposable PPE segment is growing at a higher CAGR during the forecast period as they are more long-lasting and safe than disposable. Industries in which disposable protective clothing is used include chemical industries, healthcare, food processing, chemical, and others.
INSIGHTS BY PROTECTION
Protective clothing, such as chemical defending, cleanroom clothing, heat & flame protection, and mechanical protective clothing, is the largest product segment in the global personal protective equipment market.
Rising accidents, deaths, and injuries drive the demand for protective clothing supported by their characteristics, such as high performance, better quality, and high wear and tear.
Furthermore, the hand-protection is growing at a high rate due to the consumption of personal protective gloves to protect hands from injuries from abrasions, cuts, burns, and chemical reactions. Health risks linked with hazardous chemicals.
INSIGHTS BY APPLICATION
Due to the growing regulations, the chemical protection segment dominates the global personal protective equipment market. The demand for such chemical-defending wearables is expected to increase.
Moreover, the need for chemical resistance apparel, other wearables, and breathable factors is expected to increase the demand in the forecast period in the market in various industries.
INSIGHTS BY END-USERS
The global personal protective equipment market by end-user segments as oil & gas, chemical, pharmaceutical & healthcare, aerospace & defense, automotive, food & beverage, and other industries. The oil & gas holds the largest personal protective equipment (PPE) market share.
The global economy is majorly dependent on the oil & gas industries, and the demand for oil and gas consistently increases as global economies and infrastructure depend on petroleum-based products.
Furthermore, the demand for products in the oil and gas sector will always grow in the next years. The sector needs high-quality PPE products, which must meet resistance and durability requirements, even in difficult environments, harder than other industrial sectors, contributing to market growth.
PREMIUM INSIGHTS
Market Opportunities & Trends
- Rising Demand for Sustainable Products
- Growing Concerns Related to Industrial Incidents
- Emerging Demand for Packaged Food
Market Growth Enablers
- Growing Healthcare Industry
- Emerging Construction Industry
- Rising Fire Incidents
Market Restraints
- Tough Competition Post Covid-19
- Disruption in Value Chain
- Fluctuations in Raw Material Prices
Macroeconomic Overview
- Economic Growth
- Income Levels
- Currency Exchange Rates
- Government Policies
- Technological Advances
- Environmental Regulations
- Demographics
- Global Health Pandemics
Benefits of Using Personal Protective Equipment
- Protection from Hazards
- Increased Safety
- Compliance With Regulations
- Improved Confidence
- Reduced Healthcare Costs
- Customization
Development in Covid-19 and Other Diseases Surfacing
Rising Demand for Efficient Hand Safety Equipment
Strict Regulatory Standards
VENDORS LANDSCAPE
Key Company Profiles
- 3M
- Honeywell
- Kimberly Clark Corporation
- MSA Safety Incorporated
Other Prominent Vendors
- Avon Rubber PLC
- Ansell
- Cardinal Health
- Lakeland
- DuPont
- Alpha Pro Tech
- Dynarex Corporation
- W.W. Grainger Inc.
- Wurth Group
- Radians Inc.
- Gateway Safety, Inc.
- Sioen
- Bunzl
- TenCate
- Gore
- Global Industrial
- Global Glove and Safety
- Mallory
- DeWALT
- Momentum Group
- Wenass
- PBI Fabrics
- PIP Global
- Sanctum Workwear
- Alexandra
- ASATEX
- Bennett Safetywear
For more information about this report visit https://www.researchandmarkets.com/r/qp3nue
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