NewswireToday - /newswire/ -
Singapore, Singapore, 2010/08/23 - The demand for personal protective equipment (PPE) in Southeast Asia is on the rise, with the emergence of countries such as Thailand, the Philippines, and Indonesia as manufacturing hubs for many multinational companies (MNCs).
The demand for PPE in Southeast Asia is on the rise, with the emergence of countries such as Thailand, the Philippines, and Indonesia as manufacturing hubs for many multinational companies (MNCs) based in Europe and North America. These MNCs have standardized safety norms across their global operations and the norms in their Asia Pacific branches are as stringent as those in their European and North American offices.
These MNCs' safety policies and rapid expansion of operations in the Asia Pacific have considerably increased the usage rates of PPE among workers in this region.
New analysis from Frost & Sullivan (chemicals.frost.com), Asia Pacific Personal Protective Equipment Markets, finds that the markets earned revenues of $992.8 million in 2009 and estimates this to reach $1.36 billion in 2015.
The flourishing industrial sectors in Southeast Asian countries are hiking the number of employees in many industries, thereby driving the growth of the PPE market. Also, the tightening of safety regulations and standards in Southeast Asian countries is expected to further boost the growth of the PPE market in the next five to six years.
"As the Asia Pacific is recovering from the economic downturn, there has been a revival of industrial activities in the region," says Frost & Sullivan Industry Analyst Deepan Kannan K. "Many countries are expected to record significant year-on-year increase in their labor force in the manufacturing sector during the forecast period, driving the growth of the total Asia Pacific PPE market."
Despite the market potential, PPE manufacturers will be challenged by the high preference for low-priced and low-quality products. Owing to the lack of strict regulations regarding workplace safety, end-user companies in Southeast Asia tend to opt for inexpensive PPE products. This makes it harder for global PPE manufacturers to penetrate the market.
However, increasing awareness about the importance of using PPE has opened up numerous opportunities for manufacturers.
"Most international PPE manufacturers operating in Southeast Asia offer high-end products for the MNCs in the region," notes Kannan. "This way, the companies would have captured a significant share of the PPE market."
If you are interested in more information on this study, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country.
Asia Pacific Personal Protective Equipment Markets is part of the Chemicals & Materials Growth Partnership Services program, which also includes research in the following markets: Europe and FSU oil and gas personal protective equipment markets, Western Europe respiratory protective equipment markets, South African personal protective equipment market, Russian PPE markets, North American industrial protective clothing markets, and North American industrial hearing protection products. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 40 offices on six continents.
Asia Pacific Personal Protective Equipment Markets / P3D1