Report Summary

The global personal protective equipment (PPE) market is expected to grow at a CAGR of 7.8% from 2020 to 2026. Personal protective equipment are used for the protection of a wearer from any external threat posed by the environment. PPE can be a coat, helmet, glove, goggle, and any other protective clothing designed to prohibit the contact of an on-site worker with any hazardous element. These clothing or equipment finds numerous applications in industries such as healthcare, chemicals, oil & gas, and construction as workers operate in hazardous environments in these industries. One of the primary factors propelling industry growth is the rapid industrialization, and stringent government regulations. Moreover, the growing efforts made by employers to ensure the safety of its labor force are acting as another driver.

Many instances involving serious injuries to workers are reported from time to time in almost every industrial sector. Such incidents create a negative impression about the employer, and hamper the company’s ethical and moral responsibility towards its people, hence impacting its brand image. Thus, in order to avoid any damage to a company’s brand image, companies are readily investing resources and efforts to ensure safe and healthy work environment for their workers. It is anticipated at a large number of companies will opt for high end and safest PPE products. Healthcare industrial sector due to increasing focus on infection control measures have been focusing on these products. Some of the other factors that are contributing to the industry growth are the introduction of innovative resistant materials, and stabilizing production levels in automotive industry which is one of the largest end-use industries.

A significant lay-off was observed in the energy and oil & gas sector. Lately, there has been a steep dip in crude oil prices, and increasing uncertainty in the oil & gas industry, along with the intensifying political scenario in Middle East countries are some of the few factors affecting the dynamic of the PPE market. In addition, the high cost associated to production, along with traffic barriers are some of the challenges impacting the profitability of the industry. Such challenges pose a threat to industry growth, and slightly alter the demand trends. Nevertheless, these challenges are cyclic in nature, and can be overcome over a period of time.

Regional Analysis

On the basis of region, the market has been segmented into Asia Pacific, Europe, Latin America, North America, and Middle East & Africa. Among these five regions, North America is the dominating region, and holds a significant market share. This can be primarily due to the stringent regulatory framework in the region that drives demand for PPE from all the industries. However, Asia Pacific is expected to be the fastest growing region over the forecast period. Countries like China, India, and Indonesia are a major manufacturing hub and many other countries look up to these countries for their production needs. Moreover, the booming construction industries in developing nations of Asia Pacific region are likely to the primary reason for significant industry growth.

The industry is highly fragmented with only few established players providing a comprehensive range of products. Key players operating in the industry engage themselves from time to time in collaboration, partnership, merger & acquisition, and new product development activities with other relevant participant in attempts to increase its market shares. Through these strategic initiative companies are striving hard to strengthen their market position, and increase their existing market shares. For instance, in 2015, MSA Safety Inc. acquired Latchwaysplc., a U.K. based fall protection products and solutions provider. Through the acquisition, MSA Safety Inc. was able to acquire sales opportunities and expand its global presence in the significantly growing fall protection market.

Competitive Landscape

Key market players operating in the market includes a broad list of companies, namely MSA Safety Inc., Ansell Ltd., 3M Corporation, Alpha Pro. Tech, Ltd., Rock Fall Ltd.,and Honeywell International Inc., among others.