Rapid Industrialization Catalyzes Demand For Protective Footwear In Asia Pacific, Finds Frost & Sullivan
KUALA LUMPUR, Malaysia, Oct. 8, 2012 /PRNewswire/ -- Increasing labour and production costs have forced many manufacturing giants to relocate their production bases to Asian countries. As multinational companies with better safety programs continue to enter the region, the number of employees using protective footwear is increasing steadily, thereby presenting significant opportunities for the Asia Pacific protective footwear market.
New analysis from Frost & Sullivan ( http://www.chemicals.frost.com), Analysis of the Asia-Pacific Protective Footwear Market, finds that the market earned revenues of US$331.2 million in 2011 and estimates this to reach US$435.5 million in 2016.
The market is at various stages of development in different regions. While the Southeast Asian market is driven by improved legislation, enforcement and awareness among end users, the Australia- New Zealand market is more mature, highly penetrated and slow growing, driven by customer demand for quality, comfort and style.
"Countries such as Indonesia, the Philippines and Thailand, with expanding industrial sectors like manufacturing, construction and mining, are fertile markets for protective footwear," said Frost & Sullivan Research Analyst Anita Pamu. "As Southeast Asian end users accord lower priority to style than their western counterparts, manufacturers need to supply competitively priced, basic footwear with more support and protection than style."The majority of the market demand is met by domestic participants that dominate the Asian markets and are currently focused on producing low-priced goods. The import of Chinese products is further driving down prices, restraining the sale of higher priced products. Promoting awareness among end users about the right product for the right task is important. With greater awareness and stricter regulations, manufacturers are expected to improve the quality of their products.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV