The construction & manufacturing segment contributed to the highest market share, accounting for more than one-fourth of the global protective clothing market.
PORTLAND, OREGON, UNITED STATES, May 24, 2023 /EINPresswire.com/ — The construction & manufacturing segment contributed to the highest market share, accounting for more than one-fourth of the global protective clothing market share in 2019, and is estimated to maintain its leadership position during the forecast period. This is due to high adoption of protective clothing in the construction & manufacturing sector as there is a high labor population. However, the pharmaceutical/medical segment is estimated to portray the fastest CAGR of 8.6% from 2020 to 2027. This is attributed to surge in need for safe medical treatments.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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This makes it important to understand the practical implications of the protective clothing market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The aramid & blends segment accounted for more than one-fourth of the total share of the global protective clothing market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. This is due to fact that aramid is broadly used for protective clothing as it has excellent mechanical properties as compared to steel or glass fiber of same weight, and also resistant to heat and flame. However, ploybenzimidaloe segment is estimated to portray the fastest CAGR of 7.0% from 2020 to 2027.
North America accounted for the highest share, holding for nearly one-third of the global protective clothing market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is attributed to presence of various industrial and manufacturing industries across the region and awareness regarding safety of workers at workplaces. However, Asia-Pacific is estimated to portray the fastest CAGR of 6.7% from 2020 to 2027, owing to rise in industrial activities and increase in stringent regulations for adoption of protective clothing in worker dense sectors such as construction.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players DuPont, Lakeland Industries, Inc., Ballyclare Limited, 3M Company, Koninklijke Ten Cate NV, Teijin Limited, VF Corporation, Cetriko S.L., W.L. Gore & Associates, Inc., and Glen Raven Inc.. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
Surge in demand for breathable and durable flame-resistant clothing from various sectors and increase in standards of medical hygiene across the healthcare industry drive the growth of the global protective clothing market. However, higher pricing associated with protective clothing hinder the market growth. Furthermore, growing demand for protective clothing to protect healthcare workers from Covid-19 transmission is expected to create new growth opportunities for market players in the next few years.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the protective clothing market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
According to the report, the global protective clothing industry garnered $8.7 billion in 2019, and is expected to reach $12.0 billion by 2027, registering a CAGR of 6.0% from 2020 to 2027.
KEY OFFERINGS OF THE REPORT:
Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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