Protective Eyewear Manufacturing in the US Industry Market Research Report Now Available from IBISWorld

Regulations for eye protection in the workplace will continue to drive demand in the coming years as key downstream markets continue to strengthen; moreover, over the five years to 2019, US-based companies will likely focus their efforts on higher value-added activities and develop more advanced products to sustain profit. For these reasons, industry research firm IBISWorld has updated a report on the Protective Eyewear Manufacturing industry in its growing industry report collection.

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High safety regulations and renewed demand will benefit manufacturers.

New York, NY (PRWEB) April 22, 2014

Workplace safety regulations largely drive demand for the Protective Eyewear Manufacturing industry's products. Workplace eye safety standards were first introduced in 1968 by the American National Standards Association (ANSI) and enforced after the formation of the Occupational Safety and Health Administration (OSHA) in 1970. Since then, more stringent regulations have been developed, the most recent of which were implemented in 2010. As a result of employers having to comply with new rules, industry revenue has increased over the five years to 2014. However, revenue growth also depends on industrial, construction and healthcare activity. When operators in downstream markets cut employment during the recession, demand for industry products dropped. Accordingly, revenue fell in 2009 but returned to growth in 2010, in line with recovering industrial activity and strong healthcare demand. Over the five years to 2014, Protective Eyewear Manufacturing industry revenue is expected to grow at an annualized rate of 2.8% to $555.5 million, including an increase of 3.4% in 2014.

According to IBISWorld Industry Analyst Omar Khedr, “Workplace eye safety regulations exist to protect employees from injury and infection, reduce unnecessary employer costs and maintain productivity.” The National Institute for Occupational Safety and Health reports that an estimated 2,000 employees per day sustain job-related eye injuries that require medical treatment. Furthermore, the American Optometric Association estimates that 90.0% of these injuries could be reduced or prevented with the use of proper eye protection. Industry companies manufacture safety glasses, protective goggles and face shields to safeguard eyes from debris, chemicals, radiation and blood-borne pathogens. “About 49 companies manufacture industry products domestically,” says Khedr.

Over the five years to 2014, the number of industry operators is estimated to increase at an average annual rate of 0.8%. Growth in the number of companies has been subdued due to major acquisition activity by the industry's largest players, 3M Company and Honeywell International Inc. Additionally, high manufacturing costs and rising prices for plastic materials have created an industry in which almost half of domestic demand is supplied through imports. Over the next five years, imports are expected to continue growing as domestic manufacturers focus on higher value-added products with increased functionality and design elements. Rising domestic demand will enable revenue to grow at a robust rate over the five years to 2019.

For more information, visit IBISWorld’s Protective Eyewear Manufacturing in the US industry report page.

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IBISWorld industry Report Key Topics

The Protective Eyewear Manufacturing industry includes companies that manufacture protective eyewear. This category primarily includes safety glasses and goggles that are used in laboratories, construction and mining to protect employees from chemical splashes, debris, optical radiation and high heat hazards.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.

Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.


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    IBISWorld
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