The coronavirus or COVID-19 (formerly 2019-nCoV) broke out in December 2019, which has been imposed as a medical emergency worldwide. More than 183 countries and territories have reported cases of coronavirus to date. This is the latest report, covering the current coronavirus impact on the Personal Protective Equipment market .
According to a new report published by FastMR titled, “Personal Protective Equipment (PPE) Market by Product, and End-Use : Global Opportunity Analysis and Industry Forecast, 2016–2027,” the global ethanol market was estimated at around USD 50.8 billion in 2019 and is expected to grow with the CAGR of 7% during forecast period 2023-2027. Increasing cases of corona around the globe driving the market growth for PPE.
Global cases of corona have crossed more than 2 million, with countries such as the U.S., Italy, Spain, China, and others accounting for majority of the share. As the number of cases continues to grow around the globe, demand for PPE has observed significant demand. To capitalize on the rising demand, vendors of the industry are ramping up production capacities.
Asia Pacific region is likely to dominate the global market over the predicted timeline. Key countries of the region including India and China are enforcing the norms related to the use of product in sectors such mining and construction. This is projected to provide huge boost to the demand of product over the coming years.
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Rising awareness related to workplace safety is likely to augment the demand for PPE. Many countries around the globe are working towards development of safety norms to reduce the cases of fatalities. This step is likely to enhance the market growth over the forecast period.
The current situation offers huge opportunity for market vendors. Key participants of the industry are Medicom, 3M, Ansell, Alpha Pro Tech Limited, Honeywell International, Lakeland Industries, JAL Group, Avon Rubber, Uvex Safety Group, and Mallcom Ltd. The vendors of the industry are focused on creating effective medium to enhance their production capacities and expand product portfolios..
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