Market Highlights:
The Industrial Protective Clothing Market was valued around USD 6.56 billion in 2014 and is expected to reach approximately USD 10.55 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 5.34% during the forecast period.
Key growth factors affecting on Industrial Protective Clothing Market
Increasing workplace threats combined with rising safety concerns for employees in sectors like manufacturing, food processing, chemical, oil & gas are anticipated to be prime factors that influence the growth of this market. Rising awareness towards the health and safety of workers along with growing industrial fatalities in developing economies because of inadequacy of protective gear is anticipated to boost the growth over the estimated time frame. Technological developments alongside changing purchaser requirement protective clothing which consolidates security with mold and appeal is additionally evaluated to increase market extension. Safety principles by administrative offices that include Occupational Safety and Health Administration (OSHA), primarily in Europe and North America are a noteworthy market driver for mechanical protective clothing.
As per the Occupational Safety and Health Administration the predominance of protective clothing worldwide is anticipated to increase in industries like healthcare, pharmaceutical and research laboratories. Rising value of raw materials that render characteristics such as high resistance to heat, light weight, wear & tear resistance and comfort are anticipated to compel organizations to widely invest in research and development.
Competitive Insights of Industrial Protective Clothing Market:
Industrial protective clothing market share on a global level is extremely competitive due to major diverse product landscape that includes coats, boots, gloves, shoe covers, and overalls. Competitive landscape is characterized by integrations, strategic acquisitions, and partnerships. Some of the major companies in the industry are Lakeland Industries, Inc, Bennett Safetywear Ltd, DuPont, Australian Defence Apparel, Koninklijke Ten Cate NV, PBI Performance Products and Teijin Ltd.
Raw material costing of carbon fiber and aramid which are high and varying might pose a threat to the global market of this industry in the forthcoming years. Moreover, exhaustive costing nature of this industry due to the intricate manufacturing procedures might hamper the global growth of this market. Pricing for aramid fiber which is manufactured by DuPont under the tradename Kevlar varies between USD 22 and USD 37 per kilogram.
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Regional Outlook and Trend Analysis of Industrial Protective Clothing Market
The biggest regional market was North America that registered for more than 35 percent of the market profit in 2014 and is said to witness significant growth in the upcoming years. The region is described by fast development in fragments, for example, thermal and fire retardant protective apparel. This growth is on account of various modifications in the industry principles by government organizations like Occupational Safety and Health Administration and National Fire Protection Association.
Rising initiatives towards the safety of workers coupled with great demand from the manufacturing and automotive industry is expected to fuel the growth of the market. Technological advancements coupled with volatile demand of consumers for protective clothing that provides security, attractiveness and comfort is expected to bolster the growth of this market. Increasing manufacturing and enhanced infrastructure in countries like Brazil, China, Israel, Vietnam and India is anticipated to fuel the demand of the product in the upcoming years.
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2022?
What will be the industry market growth from 2015 to 2022?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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