[282 Pages] Hazmat suits market to reach $11.60 Bn by 2030; Mining and metallurgy use to garner 6.9% CAGR: Level A safety standard to rake 6.2% CAGR.
PORTLAND, ORAGON, UNITED STATES, October 26, 2021 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Hazmat Suits Market by Application, Safety Standard, and End-Use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global hazmat suits market was valued at $6.72 billion in 2020, and is projected to reach $11.60 billion by 2030, registering a CAGR of 5.8%.
North America dominates the market, in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global hazmat suits market share in North America in 2020, owing to the implementation of strict safety regulations, increase in R&D activities, technological developments by big players, and rapid adoption of innovative technologies in making safer, convenient, and smart protective equipment. Asia-Pacific is expected to grow at a significant rate during the forecast period, owing to rise in investments to ensure high safety of industrial workers across various countries in the region.
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By application, the market is categorized into chemical waste, infection control & biohazard, hazardous materials, and others. The infection control & biohazard segment accounted for the highest revenue in 2020, owing to high demand for high-quality and convenient hazmat suits in order to cater to the rise in infections across the world.
By end-use, the hazmat suits market is classified into oil & gas, mining & metallurgy, construction, manufacturing, healthcare, and others. The healthcare segment accounted for the highest revenue in 2020, owing to the requirement of hazmat suits in bulk by the global healthcare industry.
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COVID-19 Impact Analysis
The COVID-19 impact on the hazmat suits market is unpredictable and is expected to remain in force till the fourth quarter of 2021.
The COVID-19 outbreak forced governments across the globe to implement strict lockdowns and banned/restricted the number of personnel in the factories for most of 2020. This led to sudden fall in demand for protective equipment and hampered the development of advanced hazmat suits.
Moreover, nationwide lockdowns forced protective equipment manufacturing facilities to partially or completely shut their operations.
Adverse impacts of the COVID-19 pandemic have resulted in delays in activities and initiatives regarding development of advanced safety suits globally.
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KEY FINDINGS OF THE STUDY
By application, the infection control and biohazard segment is expected to register significant growth during the forecast period.
By safety standard, the Level A segment is anticipated to exhibit significant growth in future.
By end-use, the mining and metallurgy segment is projected to lead the global hazmat suits market, owing to higher CAGR as compared to other segments.
By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Key players operating in the global hazmat suits market include 3M Company, Alpha Pro Tech, Ltd., Drägerwerk AG & Co. KGaA, Dupont DE Nemours, Inc., Honeywell International Inc., Kappler, Inc., Kimberly-Clark Corporation, Lakeland Industries Inc., MATISEC, and MSA Safety Incorporated.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Source: EIN Presswire