Newark, Feb. 16, 2023 (GLOBE NEWSWIRE) -- The safety eyewear market was estimated at around 3.5 billion in 2021, growing at a CAGR of nearly 4% during 2022-2030. The market is projected to reach approximately USD 5.5 billion by 2030.
The market is expanding primarily as a result of strict workplace safety laws and an increased reliance on visual media. People who operate on laptops or computers for extended periods of time may endure eye irritation. Long periods of time spent concentrating on the screen and typefaces might lead to eye fatigue and headaches. Long periods of screen time can also make eyes red and dry since they don't blink enough. This typically occurs as a result of a person's blink rate being reduced by as much as 50% by computer screens or other digital displays. . However, using safety eyewear can help you avoid more than 85% of eye injuries. The American Academy of Ophthalmology urges companies and employees to wear the appropriate protective gear while raising awareness of the value of occupational eye safety and wellness. The group additionally discovered that eye injuries sustained at work cost more than USD 300 million annually in lost productivity, medical expenses, and compensation.
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These wounds can cause temporary or permanent vision loss and blindness. They can range from straightforward chemical eye burns to blunt trauma wounds. Construction, manufacturing, and mining workers are more likely to have such accidents; these three industries account for 40% of all workplace eye injuries. In terms of revenue, non-prescription safety eyewear accounted for the highest portion. This can be explained by the fact that the bulk of safety eyewear is purchased for the labour force to protect the eyes from debris and dangerous substances. Non-prescription eyewear is typically used by people who can no longer see small text.
Growth Factors
The construction and industrial sectors' explosive growth is propelling the global market for safety eyewear. In a number of industries and places, regulations addressing worker safety have been passed by governments, which will probably increase demand for the product. Additionally, it is anticipated that an increase in workplace accidents will propel the market ahead. For instance, in the United States, construction spending climbed by 4% in 2017 and is expected to increase by 5% by the end of 2020. With the number of workplaces expected to increase by 6%, this has stimulated the growth of the building industry, with a focus on the creation of contemporary commercial spaces. During the forecast period, this is expected to promote the use of eyewear goods.
Another aspect that is positively influencing the market expansion is the availability of different types of eye equipment such as goggles, visors, and glasses as necessary for job safety. Key players in this market are concentrating on providing customized safety eyewear in order to increase product adoption among employees. Additionally, manufacturers are selling safety eyewear that includes ordinary eyeglasses inside the goggles for customers who need corrective lenses. In addition to such customization, safety glasses need to be comfortable to wear. To ensure that workers are comfortable enough to wear the goggles all day, elements like cushioned brows, enjoyable gel nosepieces, and padded nose bridges are incorporated into the products. As a result, market demand and product acceptance are anticipated to increase.
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Segmental Overview
Additionally, the Center for Devices and Radiological Health of the Food and Drug Administration in the United States regulates non-prescription sunglasses as medical devices. The segment dominated the industry since safety gear suitable for all types of workplaces was mass produced. A few well-known companies, including Kimberly-Clark Corp., MCR Safety, Honeywell International Inc., and 3M Company, dominate the global market.
In 2021, the industrial manufacturing sector had the greatest share with 28.5%. Processing, assembling, and finishing are just a few of the procedures involved in industrial manufacturing that expose workers to damaging light radiation, hazardous chemicals, and dust particles. The industrial manufacturing sector's demand for safety apparel is rising as a result. The following industrial manufacturing processes have a high risk of causing eye injuries: drilling, chiselling, hammering, chipping, sanding, spraying, grinding, smelting, cutting, and welding. The numerous risks that people working in the oil and gas business confront on a daily basis are well known to them. From welding sparks to extremely hot liquids and falling debris to heavy equipment, a variety of possible injury-causing hazards are constantly present.
Regional Overview
Over the projection period, Asia Pacific is anticipated to become the area with the quickest growth. There are three different kinds of eye protection: face shields, goggles, and safety glasses. To reduce their chance of contracting infections, the Centers for Disease Control and Prevention (CDC) advises workers to wear eye protective glasses while at work. This is explained by the region's growing focus on workplace safety and health. With rising middle-class spending, particularly in emerging economies, Asia Pacific, which is home to roughly 59% of the world's population, presents enormous prospects for market players.
Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| CAGR | 4% |
| Segments Covered | By Type By Application |
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List of the prominent players in the Global Safety Eyewear Market:
• Kimberly-Clark Corp.
• MCR Safety
• Honeywell International, Inc.
• UVEX Winter Holding GmbH & Co., KG
• Medop SA
• 3M Company
• Bolle Safety
• Radians, Inc.
• Pyramex Safety Products LLC
• Gateway Safety, Inc.
The global Safety Eyewear Market is segmented as follows:
By Type
• Prescription
• Non-prescription
By Application
• Oil & Gas
• Construction
• Mining
• Industrial Manufacturing
• Military
• Others
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o South Africa
o Egypt
o Kuwait
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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