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Rapid Industrialization Catalyzes Demand for Protective Footwear in Asia Pacific, Finds Frost & Sullivan


News provided by

Frost & Sullivan

08 Oct, 2012, 06:47 GMT

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- End users opt for products that provide better support and safety

KUALA LUMPUR, Malaysia, Oct. 8, 2012 /PRNewswire/ -- Increasing labour and production costs have forced many manufacturing giants to relocate their production bases to Asian countries. As multinational companies with better safety programs continue to enter the region, the number of employees using protective footwear is increasing steadily, thereby presenting significant opportunities for the Asia Pacific protective footwear market.

New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Analysis of the Asia-Pacific Protective Footwear Market, finds that the market earned revenues of US$331.2 million in 2011 and estimates this to reach US$435.5 million in 2016.

The market is at various stages of development in different regions. While the Southeast Asian market is driven by improved legislation, enforcement and awareness among end users, the Australia-New Zealand market is more mature, highly penetrated and slow growing, driven by customer demand for quality, comfort and style.

"Countries such as Indonesia, the Philippines and Thailand, with expanding industrial sectors like manufacturing, construction and mining, are fertile markets for protective footwear," said Frost & Sullivan Research Analyst Anita Pamu. "As Southeast Asian end users accord lower priority to style than their western counterparts, manufacturers need to supply competitively priced, basic footwear with more support and protection than style."

The majority of the market demand is met by domestic participants that dominate the Asian markets and are currently focused on producing low-priced goods. The import of Chinese products is further driving down prices, restraining the sale of higher priced products.

Promoting awareness among end users about the right product for the right task is important. With greater awareness and stricter regulations, manufacturers are expected to improve the quality of their products.

"To compete against the domestic participants, international companies must price their products competitively or identify niche market segments," noted Pamu. "Global suppliers need to acknowledge the physiological differences between the populations of the east and west and create customised models to expand their footprint in this promising market."

Foreign entrants can gain easier market access by lowering their costs of production through improved and optimized processes, and forging strategic partnerships with distributors, raw material suppliers and manufacturers in the Asia-Pacific.

If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, title, telephone number, company email address, company Web site, city, state and country.

Strategic Analysis of the Asia Pacific Protective Footwear Market is part of the Materials Growth Partnership Services program, which also includes research in the following markets: South Korean Personal Protective Equipment Market, Strategic Overview of Global Welding PPE Market, North American Hand Protection Market, Western European Disposable Gloves Market, South African PPE Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion 
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Analysis of the Asia-Pacific Protective Footwear Market
P675-39

Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61-(02)-8247-8927
F: +61-(02)-9252-8066
E: djeremiah@frost.com

Carrie Low
Corporate Communications – Asia Pacific
P: +603-6204-5910
F: +603-6201-7402
E: carrie.low@frost.com

Jessie Loh
Corporate Communications – Asia Pacific
P: +65-6890-0942
F: +65-6890-0988
E: jessie.loh@frost.com 

http://www.frost.com

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