Report Predicts Rapid Growth in Industrial Protective Clothing Market
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Manufacturing and production employment registered a combined strength of close to 120 million people in U.S., EU, and China in 2013. With heavy investment continuing in this sector, employability will have a significant growth in the next few years and workplace safety and the requirement of protection for the workers from fatalities will boost the global industrial protective clothing market growth in the forecast period.Industrial Protective Clothing Market size is set to surpass USD 14 billion by 2023; according to a new research report by Global Market Insights, Inc.
Development of the construction market in Asia Pacific, with expenditure over USD 1.7 trillion in China, over USD 700 billion in Japan, and over USD 400 billion in India in 2015, will increase the number of employees in this region. Growing protective equipment demand, such as overalls, gloves, etc., among the construction site workers will enhance the global industrial protective clothing market in the next seven years.
The industry, however, is likely to face hindrances due to high prices of the raw materials, which include reinforced carbon, aramid and metal fiber, fiberglass, etc. The technological complexities associated with the manufacturing of the products makes the global industrial protection clothing market capital intensive. Though heavily priced, the purpose of the product to decrease the number of fatalities in the workplace enhances its value.
Global industrial protective clothing market size will exceed USD 14 billion by 2023, disposable gloves accounted for maximum revenue share for 2015, recording over USD 1.6 billion.Durable clothing will have the largest share of the global market, with over USD 3 billion for 2015 along with more than 14.0% growth forecast.
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Global clean room protective clothing demand recorded more than USD 800 million owing to growing demand in electronics manufacturing units, chemical laboratories, clinical laboratories, and pharmaceutical facilities. The chief raw material used in these clothing is filament polyester which prevents any type of infection or contamination.Innovation and development of light weight and durable products for manufacturing and oil & gas industries will lead to a substantial growth in the mechanical industrial protective clothing market which is projected to cross USD 2 billion by 2023.
Asia Pacific, led by the mushrooming industrialization and investment in infrastructure, will be the fastest growing region, with over 15.0% CAGR from 2016 to 2023.
Regulatory norms in the U.S. has provided the maximum global industrial protective clothing market share to North America, registered a revenue over USD 2 billion in 2015 and is expected to have decent growth during the forecast timespan.
The industry is intensely competitive with companies banking on innovative product development and diversification, strategic mergers and partnerships in the next few years.
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Chapter 2. Executive Summary
2.1. Industrial protective clothing industry 3600 synopsis, 2013 – 2023
2.1.1. Business trends
2.1.2. Application trends
2.1.3. Regional trends
Chapter 3. Industrial Protective Clothing Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 - 2023
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
18.104.22.168. Safety norms
22.214.171.124. Increasing prevalence of safety at workplace
126.96.36.199. Increase in construction spending in Asia Pacific and Middle East
3.4.2. Industry pitfalls & challenges
188.8.131.52. Expensive raw materials
184.108.40.206. Complexity in manufacturing process
3.5. Growth potential analysis
3.5.1. Multifunctional industrial protective clothing development
3.6. Porter's analysis
3.7. PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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