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Asia Pacific And Middle East Personal Protective Equipment (PPE) Market Analysis By Product (Protective Clothing, Protective Footwear, Hand Protection) And Segment Forecasts To 2022
Published: January 2016 | 386 Pages | Format: PDF | Report ID: 978-1-68038-679-0
Asia Pacific and the Middle East personal protective equipment (PPE) market size was estimated at USD 9,661.4 million in 2014. Increasing awareness towards employee health and safety is expected to drive industry growth over the forecast period. Technological innovation, along with changing consumer need for protective equipment which combines safety with fashion and attractiveness is further estimated to augment market expansion in the region.
Asia Pacific and the Middle East are anticipated to experience high growth over the forecast period on account of increasing construction and infrastructure projects, thereby creating immense opportunity for the industry. Rapid industrialization in developing economies such as those in South-East Asia is expected to impact positively skilled labor requirements which in turn are anticipated to augment product demand in near future.
Safety standards by regulatory agencies including Occupational Safety and Health Administration (OSHA) are major market drivers. Regulatory agencies in Asia Pacific and the Middle East are enforcing stringent norms on employers to make it compulsory to ensure workers' safety on account of increasing hazards in these regions. Accidents involve loss of life, work disturbance, costs, reimbursement to family, legal issues and infrastructure damages; therefore, industry participants have augmented workers' safety.
Growing number of blue collar workforce across various production-centric industries and R&D establishments is anticipated to fuel product demand over the forecast period. However, unavailability of precise numerical safety data from industries acts as a major challenge for market participants.
China PPE market revenue estimates and forecast, by product, 2012-2022 (USD Million)
Hand protection emerged as a leading personal protective equipment product segment covering 23.7% market revenue share in 2014. Rising occupational fatalities along with increasing hand protection requirement in various industries including automotive, refining, oil & gas and metal manufacturing are expected to drive industry growth of this segment over the forecast period.
Protective footwear is anticipated to gain market share by 0.3% accounting for 18.1% of the total product share in 2022. Rising demand from industries such as oil and gas, chemicals, construction, pharmaceuticals, transportation, manufacturing, food, and mining is expected to drive this product segment growth for the foreseeable future.
Asia Pacific was the largest PPE market among the two regions with a total revenue share of 67.9% in 2014 and is anticipated to witness the highest growth over the forecast period. Increasing construction spending along with growing transportation and oil & gas industries in the region particularly in economies of China, India, Indonesia and Vietnam is estimated to raise PPE demand over the forecast period.
These countries are anticipated to witness significant growth in PPE demand owing to the growth of several end-use industries and implementation of various OSHA regulations regarding employee health and safety in companies within the regions.
Middle East PPE market is expected to witness moderate growth over the next seven years. Stringent regulatory scenario coupled with growing employee awareness towards personal safety may be attributed to high penetration in the region. Growing oil & gas industry in the region is expected to drive the product market over the forecast period.
An increasing number of offshore and onshore accidents coupled with stringent safety norms is forcing the employers to adopt personal protective equipment to ensure the safety of workers. Additionally, huge compensational costs arising due to injuries or loss of life is anticipated to increase product market penetration over the foreseeable future.
Asia Pacific & Middle East PPE market is highly fragmented with top five players including Honeywell, 3M, DuPont, Ansell, and MSA Company, accounted for over 70% of the market share in 2014. Honeywell has constantly been involved in R&D to develop various application specific products.
In April 2015, the company launched rigid rail fall arrest systems to provide workers with mobility and fall protection while working at height. Other players operating in the industry include Alpha Pro Tech, Ansell Ltd., Jal Group Italia Srl, Delta Plus, Superior Glove Works Limited, Uvex Safety Group and Globus.