Personal protective equipment (PPE) market share is likely to rise owing to the escalating incidences of occupational injuries and lethal accidents across several businesses. Oil and gas sector is more probable to confront accidental injuries. Personal protective equipment are protection devices or outfits to be worn by employees to reduce the impact of injuries.
According to the latest research report published by Global Market Insights Inc., personal protective equipment market share will witness remarkable growth and surpass the valuation of more than $79 billion by 2025. (Data credit: Global Market Insights, Inc.)
At present, workplace injuries are indefinite due to accidental hazards and workers’ safety is a major concern. PPE gears create a barricade between the user and the working environment to protect workers from injuries. According to the National Safety Council (NSC), an employee encounters injury at workplace every seven seconds. To deal with it, employers are being imposed with stringent regulatory guidelines to provide certified protective gear to employees.
Workers use protective clothing to save themselves from hazards arising out of extreme environmental conditions. They wear full-body suits to bear up against risky conditions, such as mold, chemicals, electric arc flash, flame and fire, dry particles, heat, asbestos, lead, cut hazards, and hazardous aerosols. The wide product range of protective clothing gears includes general industrial protection, flame-resistant outfits, comprehensive chemical protection, cut, abrasion, and thermal protection. From the regional perspective, Asia Pacific is likely to contribute significantly to the growth of PPE market size. According to a personal protective equipment industry forecast report, APAC PPE market share will observe rapid growth at 8% CAGR over 2019-2025.
Japan, China, and India are the major growth pockets in Asia Pacific personal protective equipment market. These countries are witnessing considerable surge in construction and infrastructure projects. Against the background of rising financial burden arising out of reimbursement of treatment expenses of industrial hazards, the companies operating in such sectors have been adopting various safety assessment programs. Also, there is a significant increase in the number of skilled and unskilled workers, which will also influence personal protective equipment market outlook.
Furthermore, companies in the APAC region have been investing in research and development activities, which will push the growth of PPE industry size. Employers are offering personal protection equipment to their employees for minimizing the financial burden. This monetary load is due to medical expenses, lost manufacturing time, and workers’ meed, which will enhance PPE market trends. In addition, strict government regulations enforced on companies are likely to promote industry growth. Regulatory bodies, such as OSHA and EU have outlined sectors guidelines along with training programs to educate people about user maintenance procedure knowledge.
Personal protective equipment industry has seen growth in the number of manufacturers and contract manufacturers in the past few years. The growth is stemmed from government support and beneficial regulatory policies. These manufacturers are leveraging non-renewable energy resources and organic materials in their production facilities to reduce manufacturing costs and carbon emission. Companies such as Ansell, 3M, MSA, UVEX Safety, DowDupont, Honeywell International, and Mallcom are key participants of PPE market.