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Global Protective Eyewear Industry

Global Protective Eyewear Industry

  • April 2021
  • 527 pages
  • ID: 5896572
  • Format: PDF
  • Global Industry Analysts

Summary

Table of Contents

MARKET IMPACT SURVEY - COVID-19 & LOOMING RECESSION

Timely market intelligence is paramount in these uncertain times!

We launched an impact survey to update this project with timely insights during 2020. Update frequency will depend upon evolving market conditions and executive opinions. Our participants are executives driving strategy, marketing, sales and product management at competitive companies worldwide. All updates during the rest of the year are complimentary to clients!

Abstract:
- Airway Epithelial & Lung Alveolar Cells are Popular Routes of COVID-19 Infection. Potential of Ocular Route is Not Dismissed. Protective Eyewear to Reach $2.8 Billion
- The global market for Protective Eyewear is projected to reach US$2.8 billion by 2027, trailing a CAGR of 3.7% over the analysis period2020 through 2027. Studies have found that the conjunctiva of the human eye which can be infected by adenoviruses can also be infected with SARS-CoV-2. Surface cells in the eyes similar to the nose and mouth produces TMPRSS2, a key enzyme that helps the virus enter the cell. Rubbing eyes with contaminated hands can transfer the virus onto the ocular surface of the eye. Protective eyewear is therefore becoming an important infection prevention & control measure to break the chain of transmission. Demand for protective eyewear in the consumer market has spiked even as demand in the industrial market is declining. Protective eyewear has joined the ranks of gloves and face masks as must-have protective gear to prevent the spread of COVID-19 infections. Eye protection devices or protective eyewear provides protection from flying particles, acids or caustics, liquid chemicals, vapors or chemical gases, injurious light radiation, and infected respiratory droplets.
- Industrial demand for protective eyewear is declining in-sync with the collapse of the manufacturing industry. In the United States alone over 80% of manufacturers are bracing for losses as the pandemic rages on in the country with infections rates totaling to a frightening 1.3 million. The impact on manufacturers will mean crunch on capital resources; workforce layoffs/reduction and loss in productivity; supply chain disruptions; difficulties with funding; and increase in cybersecurity risks and fraud. Unlike IT services where work is being carried out remotely via internet and cloud platforms, for the manufacturing industry, plant activities and production cannot be carried remotely and therefore remains worst affected. The slower economic activity means reduced demand for industrial and consumer goods and lower manufacturing orders. Plant closures both full and partial are expected to continue into the coming weeks. Manufacturers, especially electronics and automotive producers with complex supply chains will be hard hit as transportation, trade and movement of goods continue to remain crippled.
- Several vectors of manufacturing have been severely impacted except for production of critical public healthcare products such as drugs, gowns, masks, gloves, hand sanitizers, ventilators and other hospital ICU equipment. With the commercial aerospace industry collapsing under the travel bans and restrictions, aircraft manufacturing is set to receive the worst ever setback sending knock-on effects across the upstream supply chain. As the momentum in the industrial sector is largely reliant on level of industrial activity, which in turn is influenced by the tide in global economy, the negative economic environment therefore is likely to curtail momentum in the protective eyewear demand from all sectors other than healthcare, in the immediate term. In the post pandemic period, greater focus shed on worker safety will help bring back growth. The costs of overlooking safety include losses accruing from disruption of business, production downtime caused by worker absence, disputed work schedules, cost of legal proceedings, litigation, penalties, fine and compensation, bad publicity, cost of damage and repair to the equipment, medical expenditure and reimbursements, loss of human resources and added cost of retraining, among others. In comparison, the benefits of having comprehensive occupational safety policies, procedures and systems are many. These include achievement of goals of corporate social responsibility, higher employee productivity, lower cost of insurance, reduced expenditure associated with accidents and illnesses, reduced absenteeism, higher employee commitment to work and motivation, a greater sense of wellbeing and investor confidence. One of the most important business advantages of good occupational safety policies is the ability to build brand value and goodwill. For large companies, a fastidious safety system can boost the reputation of a company and push up stock prices higher than competitors.

- Select Competitors (Total 56 Featured) -
  • 3M Company
  • Arena Tactical (Arena Industries, LLC)
  • BartelsRieger Atemschutztechnik GmbH
  • Blueye Tactical (Blueye Eyewear Pty Ltd.)
  • Bolle-Safety
  • Cardinal Health, Inc.
  • Draegerwerk AG & Co. KGaA
  • Eye Safety Systems, Inc. (Oakley, Inc.)
  • Gateway Safety Inc.
  • Gentex Corporation
  • Honeywell International
  • JSP Ltd.
  • Kimberly-Clark Corporation
  • MCR Safety
  • MSA Safety Incorporated
  • Perriquest Defense Research Enterprises, LLC
  • Polison Corporation
  • Pyramex Safety Products LLC
  • Radians, Inc.
  • Wiley X, Inc.

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