- Favorable government initiatives and strict penalties on compliance failure is set to contribute notably to growth in the market
- Growth in oil and gas industry is leading to higher demand for effective protective gear over the forecast period
- Innovation in product development will hold a prominent place in the market
ALBANY, N.Y., Aug. 12, 2020 /PRNewswire/ -- Over the forecast period of 2019 to 2027, the global industrial protective clothing fabrics market is expected to chart a compound annual growth rate of about 7%. Factors such as implementation of strict safety regulations and growing consciousness and awareness in the industrial sector are set to keep the market on a high growth curve. It is projected that from approximately USD 2.3 billion in 2018, the market worth will cross USD 4.2 billion by 2027.
As per Transparency Market Research, "Need for effective protection in terms of clothing in oil and gas industry is high and this is leading players to focus on innovation, paving way for growth in the global industrial protective clothing fabrics market."
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Key Findings of Global Industrial Protective Clothing Fabrics Market Study:
- In the near future, oil and gas segment will record sluggish growth
- A decent pace of growth will be noted in the mining and welding segments
- Strict penalties accorded to compliance failure is a leading growth factor
- Utilities and electricians segment will be important applications over the forecast period
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Key Drivers of Growth in Global Industrial Protective Clothing Fabrics Market:
- E-commerce is being tapped into by manufacturers to improve their reach so they are able to tap into new consumer base
- Stringent safety standards are being implemented by governments across the world to maintain health and safety of workers
- Protective clothing for women are gathering steam as so far there is dearth of good alternatives
- Innovation in products development is set to propel the global industrial protective clothing fabric market on to a higher curve
- Increase in investment by governments will pave way for future growth in the market landscape
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Regional Analysis of Global Industrial Protective Clothing Fabrics Market:
- A fast growing lucrative regional market over the forecast period would be Asia Pacific (APAC)
- Rapid industrialization in a number of countries in the region will be a leading growth factor
- Worker safety concerns are gaining center-stage in the region and this is leading to implementation of better norms
- India, China, and the ASEAN countries will offer notable growth opportunities to market players
- Europe will demonstrate decent growth over the next few years owing to presence of high safety standards and of strong players
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Competitive Analysis of Global Industrial Protective Fabrics Clothing Market:
The vendor landscape of the market is dominated by large companies such as PBI Performance Products Inc, Solvay S.A., Koninklijke Ten Cate nv (TenCate), Teijin Aramid B.V., Gunei Chemical Industry Co., Ltd., Huntsman International LLC, Milliken & Company & Glen Raven, Inc., among others. Top players are capitalizing upon proprietary technology and focusing upon increase of production capacity to ensure future growth. Innovation is a key determinant of market share.
It is pertinent to note here that global industrial protective clothing fabrics market players have been profiled in great detail by Transparency Market Research. Information provided contains financial overview, details into strategies, company overview, product details and so on.
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Protective Clothing Market - The global protective clothing market is growing at a steady pace, credit a sturdy growth rate, compounded annually. The CAGR will help the market players witness a slew of profitable opportunities arising over the forecast period of 2019 to 2027.It is significant to note here that a number of industries demand protective clothing for employees owing to high risks associated with the job. Some of these include manufacturing, oil and gas, construction, and chemical. As regulation around the safety of these workers gain prominence, demand for protective clothing would see an upward curve. Governments across the world are taking cognizance of these measures and their usefulness, pushing the market on a high growth trajectory. This is particularly true of the developing regions of the world.
Disposable Protective Clothing Market - Makers of disposable protective clothing are producing variety of products which provides protection from head to toes. Products such as, respiratory masks, hard hats, respiratory marks, gloves, tyvek suits, helmets etc. are designed for single use purpose. The key factor behind the production of disposable protective clothing is prevention form infection. If these wearables are used just once, the possibility of spreading the infection from one person to another decrease to a large extent. In addition, surging demand in several sectors for example oil and gas, pharmaceuticals, automotive, chemicals, mining, and oil and gas is also furling the growth in global disposable protective clothing market.
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