Resumption of infrastructure projects boosts the market for PPE in the GCC, finds Frost and Sullivan
- United Arab Emirates: Saturday, December 29 - 2012 at 09:24
- PRESS RELEASE
With a revived and growing construction sector along with rapidly expanding population, the Gulf Cooperation Council (GCC) is sparing no efforts to complete with infrastructure-related projects that were slowing down or suspended during the economic downturn.
New analysis from Frost & Sullivan, Strategic Analysis of the GCC Personal Protective Equipment (PPE) Market, finds that the market earned revenues of $320.8m in 2011 and estimates this to reach $452.4m in 2017.
"The construction and infrastructure industries in the GCC are strongly driven by the $120-130bn in awarded contracts, across various sectors. Further, the infrastructure planning towards the upcoming 2020 FIFA World Cup in Qatar, is expected to boost the PPE Market at par with the construction industry, provided all regulatory and safety compliances are met," said Frost & Sullivan Chemicals and Materials Research Analyst.
The GCC governments are encouraging investments in the non-oil and gas-based industries in their attempt to achieve economic diversification. This has led to further investments in infrastructure and thereby, a bigger market for PPE.
However, despite the market's potential, PPE companies find it difficult to penetrate the low-end segments due to end users' inadequate awareness and compliance with safety product standards.
There is high price sensitivity, especially among smaller contractors in the construction industry, who ignore safety standards when it comes to products such as gloves and goggles.
"It is imperative for the government and private participants to enforce safety standards and build awareness," noted Frost & Sullivan Analyst.
"Many multinationals have already launched awareness campaigns and stand to gain from the resultant goodwill."
Strategic Analysis of the GCC Personal Protective Equipment (PPE) Market is part of the Chemicals & Materials Growth Partnership Services program, which also includes research in the following markets: Indian PPE Market, GCC Market for Paints and Coatings, GCC market for Green Materials Used in Construction and Egypt Paints and Coatings Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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