Market Leader - Protective Clothing Market
The protective clothing market size is projected to reach USD 12.3 billion by 2025 from USD 8.8 billion in 2020, at a CAGR of 6.9% between 2020 and 2025. Rising awareness about the safety of workers and industrial development in developing economies are expected to support the growth of the protective clothing market. The high price of specialized clothing and the requirement of massive investment for R&D are restraining the growth of the market. On the other hand, the use of phase change materials (PCMs) and rising demand for multifunctional clothing have created opportunities for manufacturers. The players in the protective clothing market are mainly concentrating on new product launches, acquisitions, agreements, and expansions to meet the growing demand for protective clothing from various applications. New product launches help companies strengthen their product portfolio and meet the specific demands of customers.
The growth of the protective clothing market has been largely influenced by new product launches, acquisitions, agreements, and expansions that took place between 2014 and 2019. 3M Company (US), E.I. du Pont de Nemours and Company (US), Ansell Limited (US), Kimberly Clark Corp (US), Teijin Limited (Japan), Sioen Industries (Belgium), and Lakeland Industries, Inc. (US) adopted acquisitions, expansions, and new product launches to enhance their product offerings.
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3M Company (US) is developing its protective clothing segment by launching new products and expanding its global presence through acquisition. 3M acquired Scott Safety (US) from Johnson Controls (US) in October 2017. The acquisition helped the company widen its product portfolio of safety products & solutions. The company also acquired Ivera Medical Corp. (US) in March 2015, thereby, expanding its business in the healthcare sector. It has the opportunity to develop more efficient and durable products for global sale.
E.I. du Pont de Nemours and Company (US) focuses on R&D to produce protective fabrics and clothing for defense, law enforcement, chemical, and industrial applications. The strong supply chain and distribution network of the company helps it to have a competitive edge over its competitors. The advanced protective clothing offered by the company finds high demand from end-use industry such as oil & gas, construction, manufacturing, and others. The company, through various agreements, has improved its presence in emerging markets of APAC.
Related Reports:
Protective Clothing Market by Material Type (Aramid & Blends, Polyolefin & Blends, Polyamide, and PBI), Application (Thermal, Chemical, and Visibility), End-Use Industry (Construction, Manufacturing, Oil & Gas, and Mining) - Global Forecast to 2025
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