Dublin, April 27, 2022 (GLOBE NEWSWIRE) -- The "Turkish PPE Growth Opportunities" report has been added to ResearchAndMarkets.com's offering.
Turkey's PPE market was valued at $575.0 million in 2021 and is forecast to grow at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2026.
Mounting concerns regarding workplace hazards and stricter safety protocols are expected to drive demand for PPE during the forecast period.
Overall market growth declined by 5.6% in 2020 as governments imposed temporary lockdowns and other restrictions to limit the spread of COVID-19. Resurgent demand in 2021 bolstered PPE growth In Turkey. The publisher expects high market growth during the forecast period owing to increased demand from end-user industries, including construction, manufacturing, automotive, and food and beverage.
Turkey's highly fragmented PPE market comprises a large number of local companies. The increased competition puts downward pressure on prices, hampering revenue growth.
Adoption of EU safety standards (Regulation EU 2016/425) and a ban on non-CE-compliant PPE products are expected to drive future growth. However, low compliance in construction, transport, and food and beverage industries remains a concern.
Turkey invests heavily in infrastructure, construction, and transport projects. With a large indigenous manufacturing base, a big workforce, and proximity to Western Europe, the Middle East, and North Africa, the country is expected to become a manufacturing hub during the forecast period. Adherence to product quality and required standards will enhance this development.
Hand protection, protective clothing, and protective footwear are the largest product segments, accounting for a combined 65.5% of market revenue in 2021.
Hand protection is forecast to be the fastest-growing product segment during the forecast period, propelled by demand in the automotive, manufacturing, food and beverage, chemical, and petrochemical industries.
Key Topics Covered:
1. Strategic Imperatives
Why is it Increasingly Difficult to Grow?
The Strategic Imperative
The Impact of the Top Three Strategic Imperatives on the Personal Protective Equipment Industry
Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis
PPE Industry Outlook
What Drives the PPE Industry?
Scope of Analysis
Percent Revenue by Product Type
Major Industry Participants
Key Growth Metrics
Revenue Forecast by Product Type
Revenue Forecast Analysis
Partial List of Selected Market Participants by Product Type
3. Overview of Turkish Population, Industries, and Demography
Turkey: An Overview
Industrial Sector Employment Breakdown
Turkey: Employment by Industry
Top Industrial End-user Industries for PPE
PPE Requirement and Usage by End-use Industry
Standards and Regulations
Local Production-Import Ratio by Product Segment
4. Growth Opportunity Analysis by Product Type
Percent Revenue Forecast and CAGR by Product Type
Above the Neck Protection
5. Growth Opportunity Universe
Growth Opportunity 1: Local Manufacturing to Boost Product Acceptance of Global Manufacturers
Growth Opportunity 2: Market Penetration through M&As
Growth Opportunity 3: European Safety PPE Standards to Boost Awareness and Drive Growth
6. Next Steps
For more information about this report visit https://www.researchandmarkets.com/r/l3ub57
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