The Southeast Asia personal protective equipment market size is expected to reach USD 2.10 billion by 2025 expanding at a CAGR of 8.0%, according to a new report by Grand View Research, Inc. Growing awareness regarding workers’ safety owing to several cases of occupational accidents is projected to drive the Southeast Asia PPE market. Wide usage of PPEs in the production of protective clothing in a variety of industries will boost the industry growth. Rising need to avoid workplace accidents in industries, such as chemical production, manufacturing, and oil & gas, is expected to propel the market development.
Increasing preference for comfortable and lightweight protective wear without compromising operability is also contributing to the industry expansion. Moreover, popular trend of installing wearable technology gadgets in PPEs to monitor the operating environment is expected to drive the industry further. PPE production is highly capital-intensive due to complex manufacturing methods and high costs of raw materials. Thus, initial capital investment is expected to be a major entry barrier for new participants, on account of which, the threat of new entrants is expected to remain low.
Further Key findings from the study suggest:
- Fall protection segment is expected to witness the highest CAGR of 9.0% from 2018 to 2025 due to rising application scope in various industries including construction and oil & gas
- Chemical defending apparel emerged as the largest protective clothing application segment owing to high demand from chemical and petrochemical industries
- Aramid fiber and blends-based mechanical protective clothing is expected to emerge as the fastest-growing material segment due to high demand for such clothing from manufacturing and construction industries
- The industry in Vietnam is estimated to witness the fastest CAGR over the forecast period owing to rapidly developing manufacturing and construction industries
- Key industry players have resorted to integration across the value chain in a bid to reduce the production cost for PPE, which is expected to emerge as the defining trend over the next few years