Safety Regulations In North America Revitalize Industrial Protective Clothing, Finds Frost & Sullivan
MOUNTAIN VIEW, Calif., April 3, 2013 /PRNewswire/ -- Although mature, the North American industrial protective clothing market experiences high growth in some segments due to frequent revisions in industry standards. The U.S. Occupational Safety and Health Administration's (OSHA's) 2010 memorandum, which mandated heat and fire-resistant (FR) clothing for workers in the oil and gas industry, gave a huge boost to this segment making it the highest revenue contributor to the market.
Another impending standard regarding combustible dust hazards will further ignite the heat and FR segment.
New analysis from Frost & Sullivan ( http://www.materials.frost.com), North American Industrial Protective Clothing Market, finds that the market earned revenues of $1.63 billion in 2012 and estimates this to reach $2.30 billion in 2017 at a compound annual growth rate of 7.2 percent. The study covers the five clothing types – high-visibility, heat and FR, chemical, chainsaw, and antistatic.
If you are interested in more information on this research, please send an email to Jeannette Garcia, Corporate Communications, at firstname.lastname@example.org, with your full name, company name, job title, telephone number, company email address, company website, city, state and country."Companies are eager to avoid financial losses incurred through legal settlements and compensations to victims of workplace accidents," said a Frost & Sullivan Research Analyst. "As a result, employers in North America tend to adopt management practices that focus on employee safety." While the market's prospects are still bright, the influx of cheap imports from Asia has pegged it back to some extent. Participants are reluctant to increase their products' average selling price, and are considering combating the imports challenge through industry consolidation and higher entry barriers. Participants can stand out in the market by leveraging technological innovations to create novel design and raw materials. These R&D efforts will be driven by customer demand for better-performing protective clothing that is both comfortable and stylish.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts