The global personal protective equipment (PPE) market was valued at USD 52.7 billion in 2019 and is expected to reach USD 92.5 billion by 2025, growing at a CAGR of 8.7% during 2020-2025. Increasing initiatives taken by the government and the NGOs to spread the awareness of employee protection and to reduce the injury rate are the key factors driving the growth of the personal protective equipment market.
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The sudden outbreak of coronavirus is the key factor driving the growth of the global personal protective equipment market in the current scenario. The drastic changes occurring due to COVID-19 is impacting every individual globally as a result to which demand for personal protective equipments are increasing rapidly. World Health Organization (WHO) has urged all the manufacturers of personal protective equipment globally to increase the production of these equipments on an immediate basis.
Based on application, oil & gas, construction, chemicals, transportation, manufacturing, pharmaceuticals, food, mining, and others. Among all, pharmaceuticals segment is expected to contribute largest revenue by 2025 as people all over all the world are rapidly demanding for personal protective equipment market to protect themselves from COVID-19 pandemic.
Geographically, Europe was the largest personal protective equipment market in 2019. This is owing to the increase in the COVID-19 patients in the region. The demand for personal protective equipment has been exceeded by European Union in order to fight coronavirus. The demand of personal protective equipment from this region is 10 times more as compared to that what is available in stock. According to a report published by European Union, approximately 1,563,857 cases of COVID-19 till first week of April and total deaths registered in the region have been reported as 95,044.
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Some of the key players operating in the global personal protective equipment market are The 3M Company, Ansell Limited, Honeywell International Inc., Sioen Industries NV, Kimberly-Clark Corporation, E I DuPont de Nemours and Co., MSA Safety Inc., Lakeland Industries, Alpha Pro Tech, Ltd., Radians Inc., Delta Plus Group, Uvex Safety, Avon Rubber, and Metric AG.
Source: VynZ Research
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