Thousands of preventable workplace accidents occur every year. So, it’s no surprise the personal protective equipment market is expanding as employers and governments become more cognizant of worker safety.
The most recent statistics available from the U.S. Bureau of Labor Statistics show fewer than 20 percent of workers who sustained head injuries wore hard hats, just over 20 percent of workers with foot injuries wore safety shoes or boots and only 40 percent of the workers with eye injuries wore eye protection.
Despite these dismal numbers, rising safety awareness either through heightened corporate responsibility or stringent governmental regulations is causing the global personal protective equipment market to grow.
All Hands on Deck
The research firm predicts an increase in demand for the safety glove industry, bringing the market value to more than $6.7 billion within the next six years.
The automotive, oil and gas, mining, food processing chemical and aviation industries are major contributors to the boost. However, fluctuating raw material costs and currencies could hamper demand.
In the U.S. alone, market size could generate more than $2.5 billion. Global Market Insights cites “favorable” regulations along with rapid growth in automobile industry as factors.
In addition, growing government spending on healthcare and nursing homes will increase product demand as well as shale gas exploration driving sales in oil and gas applications.
Just as with hand protection, strict safety regulations imposed by OSHA, NIOSH, NFPA, and others will be the principal global industrial protective clothing market growth driver, says Global Market Insights.
Awareness campaigns and mandatory compliance are the biggest components to the increase of industrial protective clothing use through 2023.
As “heavy” manufacturing investment continues in the U.S., EU and China, job creation as well as workplace safety awareness will expand the global industrial protective clothing market growth in the forecast period, according to the firm.