Personal Protective Equipment Materials Market Worth USD 82.2 Bn, Globally, by 2031 | Expanding at a CAGR of 6.5%, TMR Study
Transparency Market Research
5 min read
Transparency Market Research
Increase in demand for PPE kits in the healthcare sector and implementation of stringent regulations to ensure worker safety are expected to fuel the global Personal Protective Equipment (PPE) materials market size. PPE materials have gained traction due to their unique properties and a wide range of applications in healthcare and industrial sectors.
Wilmington, Delaware, United States, June 28, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global personal protective equipment materials market was valued at US$ 46.6 Bn in 2022. It is estimated to grow at a CAGR of 6.5% from 2023 to 2031 and reach US$ 82.2 Bn by the end of 2031.
Surge in demand for PPE kits in the healthcare sector and increase in regulations to ensure workplace safety are fueling the PPE materials market. PPE materials are widely used in the healthcare and industrial sectors due to their unique properties. Increase in awareness about the usefulness of PPE in preventing infections and ensuring the safety of healthcare workers are likely to fuel the market size in the next few years.
Personal protective equipment materials refer to fabrics or substances to manufacture various forms of protective gear. These materials are used for their ability to provide protection against hazards such as physical, chemical, biological, or radiological agents.
North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Companies Covered
LG Chem, ExxonMobil, Mexichem S.A.B. de C.V, INEOS Group, Formosa Plastics Corporation, Westlake Chemical Corporation, Shin-Etsu Chemical Co., Ltd., 3M, DuPont, HEXPOL AB, Lanxess AG, Trinseo
Competitive Analysis
The global landscape is fragmented with the presence of a few large players and numerous small players. Majority of players are investing in R&D activities for improved products and increase their market share.
Prominent players in the PPE materials market include LG Chem, ExxonMobil, Mexichem S.A.B. de C.V, INEOS Group, Formosa Plastics Corporation, Westlake Chemical Corporation, Shin-Etsu Chemical Co., Ltd., 3M, DuPont, HEXPOL AB, Lanxess AG, Trinseo.
Key Findings of Study
Rise in Demand for PPE Kits in Healthcare Sector Fueling Market Development – Increase in adoption of PPE kits in the healthcare sector is fueling the demand for PPE materials. The COVID-19 pandemic led to rapid adoption of PPE kits to protect healthcare workers and prevent the spread of the virus. This, in turn, led to skyrocketing demand for PPE materials, creating supply chain gaps in some cases. Manufacturers are thus ramping up production and sourcing adequate supply of raw materials to meet this rise in demand.
The demand for PPE is expected to remain elevated post COVID-19, as healthcare providers continue to prioritize safety and well-being of healthcare personnel and patients. This is likely to boost the PPE materials market value.
Increase in applications of PPE materials is driving innovation and research in PPE material development. Manufacturers are exploring new PPE materials and novel technologies to improve comfort, performance, and durability of PPE.
Stringent Regulations to Ensure Worker Safety Steering PPE Materials Market Progress – High-risk industries such as construction, manufacturing, oil and gas, and mining have always prioritized worker safety. The need to increase worker safety to reduce workplace injuries, prevent accidents, and improve overall occupational health is leading to the usage of PPE, thereby fueling market demand.
Government and regulatory bodies are consistently updating and enforcing safety regulations to increase workplace safety in high-risk industries. Compliance with these regulations often require adoption of PPE manufactured for specific work environments. Enforcement of stringent safety standards is expected to fuel the demand for PPE across industries, which, in turn, is likely to augment market size.
High Demand for Plastic in PPE Manufacturing – In terms of type, the plastics segment is expected to account for leading market share during the forecast period. High versatility of plastic that can be molded and formed into various shapes and sizes supports growth of the segment.
Increase in regulations to improve workplace safety in high-risk industries is fueling the PPE materials market
Continued adoption of PPE post COVID-19 for the safety of healthcare workers is augmenting market growth
RegionalLandscape
Asia Pacific is anticipated to account for leading share of the global market during the forecast period. China is a key contributor to the PPE materials market in the region. Continued practice of adoption of PPE in India post COVID-19 for the safety of healthcare workers is translating into value-grab opportunities for players in the region.
North America constitutes significant share in the global PPE materials market. Rapid industrialization and increase in demand for PPE in industrial water treatment are fueling market statistics in the region.
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