PERSONAL PROTECTIVE EQUIPMENT MARKET ANALYSIS

Global personal protective equipment market is estimated to be valued at US$ 121.9 Billion by 2030, exhibiting a CAGR of 9.38% during the forecast period (2023 to 2030).

Increasing production capacity of the PPE by manufacturers to cater the rising need in the outbreak of COVID-19 pandemic creates lucrative opportunities. For instance, in March 2020, Aspen Surgical Products, Inc., announced that it increased production capacity for the Precept brand of personal protective equipment (“PPE”) to support COVID-19 relief efforts in North America, and to cater to high demand for facial protection amidst COVID-19.

Global Personal Protective Equipment Market: Drivers

Stringent Regulatory Framework for Worker Safety

Stringent government regulations is expected to drive the global PPE market growth. Government authorities have implemented safety regulations to reduce incidents and risks, and thus,  enhancing worker health and safety at workplaces. Several laws and guidelines compel end user manufacturers to equip their workers with PPE certain work environments. The National Safety Council (NSC) is a public service organization that works under the U.S. Department of Labor to strengthen workplace safety. Its objective is to focus on preventable injuries and deaths at construction sites or manufacturing units. It provides employers and workers with classroom programs and online training to inform them about the casualties that can occur due to negligence. Several industries follow NSC standards to provide their work training programs on a regular basis, and this is expected to drive the global personal protective equipment market growth.

Development and Innovations in Product

Manufacturers are focusing on the development and innovations in product such as usage of light and comfortable equipment. People spend on on quality products, and this led manufacturers to indulge in high-quality fabrics and materials. Trendy aesthetic and designs coupled with technology is expected to drive the global PPE market growth.

Global Personal Protective Equipment Market: Restraints

Rising Prices of Raw Materials

Rising prices of raw materials, owing to the supply chain disruptions caused by the COVID-19 pandemic is expected to hamper the market growth. There has been huge demand for PPE in recent years. PPE manufacturers are focusing on developing high-quality products and introducing stringent quality control measures. Increasing complexity in the manufacturing process is expected to hamper the market growth during the forecast period.

Global Personal Protective Equipment Market: Impact of COVID-19

World Health Organization (WHO) is working with governments and industry to boost the production rate of PPE. According to WHO estimates,  to meet the rising global demand, manufacturers are  increasing the PPE production by 40%. Governments are focusing on easing restrictions on the export and distribution of personal protective equipment and other medical supplies to boost the production. This is expected to drive the market growth.

Global Personal Protective Equipment Market: Market Segmentation

On the basis of Application, pharmaceuticals segment dominated the global personal protective equipment market in 2022, accounting for 35% market share, and was followed by manufacturing, chemicals, Food segments.

Figure 1. Global Personal Protective Equipment Market, By Application Industry, 2022

Global Personal Protective Equipment Market: Regional Analysis

Europe accounted for the largest revenue share of 30.8% in the global market in 2022, owing to a developed industrial platform along with rising adoption of products in the various sectors. High product penetration across European countries is attributed to a strict regulatory environment along with severe penalties for non-compliance, driving companies to use PPE regularly. Asia Pacific is expected to witness the fastest growth rate in the market at a CAGR of 7.8% over the forecast period, owing to significant economic development and industrialization across the region. Numerous factors such as the huge cost of compensation and increasing workforce fatalities are expected to encourage employers to use PPE in various end User industries.

Personal Protective Equipment Market: Recent Developments

• In August 2020, DuPont de Nemours, Inc., collaborated with Home Depot (US), to donate rolls of Tyvek 1222A to Kaiser Permanente to manufacture PPE products for the COVID-19 crisis.
• In April 2020, DuPont de Nemours, Inc., expanded its business by launching a new program named TyvekTogether to increase the overall availability of Tyvek personal protective garments in the company's continued efforts to combat the spread of COVID-19, and protect healthcare workers. The company supplied Tyvek material to other PPE manufacturers in the COVID-19.
• In May 2022, 3M Company, expanded its business by inaugurating manufacturing facility in Valley, Nebraska, U.S. The company is invested approximately US$ 58 million to fund the 80,000 square foot expansion that i creatde approximately 50 new jobs at the facility. This facility is expected to manufacture respiratory and hearing protection products.
• In May 2022, Honeywell International Inc., launched two new NIOSH-certified respiratory products named DC365 & RU8500X series masks to meet the needs of healthcare workers. This products expanded Honeywell’s personal protective equipment (PPE) portfolio.

 Figure 2. Global Personal Protective Equipment Market, By Region, 2022

Global Personal Protective Equipment Market: Key Companies

Key players are operating in the global personal protective equipment market are 3M Co., Alpha Pro Tech, Ltd., Ansell Ltd., Avon Rubber P.L.C.,  Jal Group, Cofra Holding Ag, Oftenrich Holdings Company Limited, Honeywell Safety Products, Rock Fall Ltd., and Uvex Safety Group

*Definition: Personal protective equipment is a safety tool that is used by workers to protect against hazards at the workplace. Protective clothing, respiratory protection, head eye and face protection, hearing protection, fall protection, professional footwear, and hand protection are some of the personal protective equipment.