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Turkish PPE Growth Opportunities
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.
New York, April 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Turkish PPE Growth Opportunities" - https://www.reportlinker.com/p06269049/?utm_source=GNW
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 analyst 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.
Author: Sanjiv Bhaskar
Read the full report: https://www.reportlinker.com/p06269049/?utm_source=GNW
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