(MENAFN- EIN Presswire) demand for consumer goods which has surged the establishment of chemical manufacturing facilities in various economies drive the global face shield market.
PORTLAND, OREGON, UNITED STATES, March 17, 2023 /einpresswire.com / -- Allied Market Research published a report, titled, 'Face Shield Market by Type (Disposable, Reusable), by Product Type (Half Face Shield, Full Face Shield), by End-use Industry (Healthcare, Manufacturing, Construction, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.' According to the report, the global face shield industry generated $1.3 billion in 2021, and is estimated to reach $2.4 billion by 2031, witnessing a CAGR of 6.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Drivers and Opportunities
Increase in demand for healthcare sectors wherein face shields are widely used for protection from hazards, growth of the construction sector, and rise in demand for consumer goods which has surged the development of chemical manufacturing facilities in both developed and developing economies drive the growth of the global face shield market. However, materials used for the production of face shields such as polycarbonate, acetate, polyethylene terephthalate glycol, and others are derived from crude oil which is a highly volatile commodity in terms of cost. Thus, the volatility in crude oil prices affects the prices of face shields, which hampers the market growth. On the other hand, increase in awareness of safe working conditions in both developed and developing economies, and the emergence of eco-friendly reusable face shields present new opportunities for the market in the coming years.
Many local players got involved in the manufacturing of face shields, owing to the increase in demand for face shields and other protective equipment during the COVID-19 pandemic period. This made the availability of face shields at relatively low prices.
The face shield market witnesses a healthy growth rate during the post-COVID-19 period, owing to increase in awareness of personal protection equipment and communicable diseases, and rise in expenditure on healthcare facilities across the world.
Increased spending on the development of the healthcare sector resulted in the growing demand for face shields used for the face protection of health professionals and workers.
The reusable segment to rule the roost during the forecast period
Based on type, the reusable segment was the largest market in 2021, contributing to more than half of the global face shield market, and is expected to maintain its leadership status during the forecast period. Moreover, the same segment is projected to witness the fastest CAGR of 6.7% from 2022 to 2031. There are certain advantages associated with the use of reusable face shields such as their eco-friendly nature, inexpensiveness, and easy availability that has made customers become more linear toward using reusable face shields, which drives the segment.
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The full face shield segment to maintain its dominance during the forecast period
Based on product type, the full face shield segment held the largest market share of more than three-fifths of the global face shield market in 2021, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is projected to witness the largest CAGR of 6.6% from 2022 to 2031. Full face shields come with both adjustable and fixed visor and are mostly used by doctors, nurses, medical staff, workers, and armed forces for protection from germs, viruses, bacteria, hazardous chemicals, and others. Full face shields find wide application in sectors including construction, medical, chemical industries, oil & gas, and others.
The manufacturing segment to maintain its dominance during the forecast period
Based on end use industry, the manufacturing segment held the largest market share of more than one-third of the global face shield market in 2021, and is expected to maintain its dominance during the forecast period. Moreover, the same segment is projected to witness the highest CAGR of 6.9% from 2022 to 2031. This is attributed to the increasing demand for consumer goods, which in turn, has surged the development of chemical manufacturing facilities in both developed and developing economies where face shields are widely used for the protection from hazardous and toxic chemicals, fumes, and other harmful gases.
Europe to maintain its dominance by 2031
Based on region, Europe was the largest market in 2021, capturing nearly two-fifths of the global face shield market, and is expected to lead the trail during the forecast period. Germany is the most promising market in the region due to the increased adoption of face shields in the automotive sector. Furthermore, countries such as the UK and Italy put more emphasis on construction activities where face shields are used by workers to prevent themselves from optical radiations or sparks during metal cutting, brazing, and other operations. However, the Asia-Pacific market is projected to manifest the fastest CAGR of 7.3% during the forecast period. The growth in building & construction, transportation, industrial, and other sectors has enhanced the performance of the face shield market in the region. China's industrial sector is increasing rapidly, which in turn, has enhanced the performance of the face shield market in the region.
Leading Market Players
JBC Technologies Inc.
Printex Transparent Packaging
Honeywell International Inc.
Alpha Pro Tech Ltd.
Casoc Bay Molding
Kimberly-Clark Worldwide Inc.
Precept Medical Products Inc.
Pyramex Safety Products
Sanax Protective Products
Medline Industries LP
The 3M Company
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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