Protective Clothing Market by Expected Reach from $10,211 Million, By Leading & Growing at a CAGR of 3.6% from 2014 to 2022
According to Eswara Prasad, Team Lead Chemical Research at AMR, "Stringent governmental regulations regarding the safety of workers such as occupational safety and health act (OSHA) and flammable fabrics act under consumer product safety commission are expected to fuel market growth over the forecast period."
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The industry players made significant investments on new commercial avenues for their product segments via strategic partnerships & collaborations. Governmental funding towards extensive research and development activities coupled with an increasing support for application of protective clothing. There is a rise in demand for protective clothing from various end-user industries and an increase in application scope owing to its superior properties. Also, the decrease in prices of protective clothing owing to the improving manufacturing technologies is expected to drive the demand for protective clothing over the forecast period. However, factors such as high price of protective clothing and a constant threat of substitution are expected to hamper the market growth during the forecast period.
In the year 2015, construction & manufacturing was the largest end-user industry accounted for majority of the market share owing to the stringent government regulations regarding worker safety, followed by oil & gas, law enforcement & military, firefighting and pharmaceuticals segment. The thermal segment is accepted to generate highest revenue over the forecast period owing to the increasing demand for fire and flame resistant clothing from various end-user industries, whereas, the radiation segment is expected to grow at the fastest rate over the forecast period.
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The Major Key Players Are:
• 3M Company
• Teijin limited
• Lakeland Industries
• Workrite Uniform Company Inc.
• Ballyclare Limited
• Glen Raven
• W.L. Gore & Associates
• Koninklijke Ten Cate Nv.
• Among these 3M
• Teijin Limited
• Workrite Uniform Company
• Koninklijke Ten Cate.
These players occupy a major share in the world protective clothing market followed by other tier 2 and tier 3 players worldwide.
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Key Findings of the Protective Clothing Market:
• Radiation segment is expected to witness highest CAGR of 4.4% during the forecast period.
• Aramid and Polyolefin segment together accounted for more than half of the market share in 2015.
• North America is expected to generate highest revenue over the forecast period, whereas, Asia-Pacific is anticipated to be the fastest growing segment in the foreseeable future.
• In 2015, U.S. led the global demand for protective clothing and is expected to remain same during the forecast period.
• Oil & gas segment, followed by pharmaceuticals, are expected to be the fastest growing end-user industries over the forecast period.
• DuPont holds highest market share in the global protective clothing market.
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