The global face shields market size is expected to gain momentum by reaching USD 1,642.1 million by 2028. Fortune Business Insights in its latest report, titled “Face Shields Market, 2021-2028.”, observes that the market stood at USD 832.3 million in 2020 and is projected to exhibit a CAGR of 8.8% between 2021 and 2028. This is attributable to the increasing awareness regarding industrial occupational hazards that is likely to surge the demand for the product.
The COVID-19 pandemic has had a seismic effect on several economies across the globe. To curb the pandemic spread, the governments of several countries have ordered complete lockdown of industrial and human activities. This is expected to have a significant impact on the market in 2020. However, proactive steps by the industry leaders to revive the automotive industry will bode well for the growth of the market in the near future.
Based on the product, the global market is bifurcated into a full face shield and half face shield. On the basis of type, the market is divided into reusable and disposable. Furthermore, on the basis of the end-user industry, the market is classified into manufacturing, construction, oil gas, chemical, food, pharmaceutical, transportation, and others. Lastly, on the basis of region, the market is segregated into North America, Europe, Latin America, the Middle East and Africa, and Asia-Pacific.
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Awareness Regarding Occupational Hazards to Aid Growth
According to the Occupational Safety and Health Administration (OSHA), eye accidents cost more than USD 300 million annually in medical costs. Additionally, according to the National Institute for Occupational Safety and Health (NIOSH), eye injuries at the workplace occur due to small particles or objects such as wood chips, metal slivers, or dust striking or rubbing the eye. To prevent such hazards, the government agencies and the companies are creating awareness regarding the safety of the workers. This is anticipated to contribute to the global face shields market growth in the forthcoming years.
Further Report Findings:
- North America stood at USD 248.7 million in 2020 and is expected to hold the largest global face shields market share in the forthcoming years. This is ascribable to factors such as the increasing production and the presence of established manufacturers that are launching innovative PPE kits in the region.
- The market in Asia-Pacific is expected to showcase exponential growth backed by the growing geriatric population and the rising investment in the healthcare sector in countries such as China, Japan, and India. Moreover, the expanding construction and manufacturing sector in the region will boost the adoption of these shields between 2021 and 2028.
- Based on the product, the full face shield segment is anticipated to showcase significant growth due to the growing demand for face protection across several end-user industries.
Product Launches by Prominent Companies to Amplify Their Market Positions
The market is consolidated by the presence of prominent companies focusing to maintain a stronghold by developing innovative face shields and other PPE kits to cater to the growing consumer demand. Furthermore, other key players are adopting proactive strategies such as merger and acquisition, collaboration, and facility expansion to maintain their presence in the highly competitive global marketplace.
- April 2020 - Adidas, a German-based multinational shoe and consumer goods manufacturer, announced its collaboration with Carbon, a 3D printing firm having its headquarters in the U.S., to develop 3D-printed face shields.
List of the Companies Operating in the Market:
- Cardinal Health (Ohio, U.S.)
- 3M (Minnesota, U.S.)
- Honeywell International Inc. (North Carolina, U.S.)
- AlphaProTech (Richmond, Australia)
- Precept Medical Products, Inc. (North Carolina, U.S.)
- Prestige Ameritech (Texas, U.S.
- Pyramex (Tennessee, U.S.)
- Sanax Protective Products (Massachusetts, U.S.)
- KARAM (Navi Mumbai, India)
- Medline Industries, Inc. (Illinois, U.S.)
- MSA (Pennsylvania, U.S.)
- Dupont Teijin Films U.S. Limited (Virginia, U.S.)
- Radians, Inc. (Tennessee, U.S.)
- Kimberly-Clark Worldwide, Inc. (Texas, U.S.)
- Other Key Players
Information Source -https://www.fortunebusinessinsights.com/face-shields-market-105155