The price of safety eyewear is forecast to continue trending upward in line with rising input costs and demand factors in the three years to 2017
Los Angeles, CA (PRWEB) January 08, 2015
Safety eyewear has a buyer power score of 3.6 out of 5, indicating that buyers in this market have greater negotiating power than suppliers. The most commonly purchased safety eyewear units are basic glasses and goggles. These products are homogenous and sold by many vendors that compete on price domestically and abroad. Because of generally low product specialization, small manufacturers are readily able to enter the market with moderate startup costs and offer competitive prices. Buyers benefit from this factor because a higher number of suppliers gives buyers many options from which to choose. However, buyers that require more specialized protective eyewear, such as eyewear designed for protection against lasers, do not share the same selective power. “Nonetheless, safety eyewear is generally inexpensive to maintain and switching costs are low, further increasing buyer power,” according to IBISWorld business research analyst Kevin Young.
Supply chain risk, on the other hand, has detracted from buyer power in recent years. Primary input material prices have been increasing for suppliers, causing prices of safety eyewear to rise. The rising value of construction and the industrial production index have driven demand for safety eyewear in the past three years, furthering price increases. Despite historically low price volatility and growth in safety eyewear prices, unstable input costs could cause disruptions in the supply chain, increasing supply chain risk and potentially decreasing buyer power. The price of oil, in particular, can significantly impact the cost of raw plastics. “Still, buyers may benefit from vendor price competition stemming from an influx of inexpensive safety eyewear products produced overseas, fueled by an appreciating dollar,” says Young.
Employees who need safety eyewear often wear other protective apparel as well, and many safety eyewear vendors sell a variety of related products. Buyers may be able to negotiate prices downward by bundling bulk purchases of safety eyewear with other goods or services supplied by the same vendor. Major vendors include W.W. Grainger Inc., Honeywell International Inc. and 3M Company. For more information, visit IBISWorld’s Safety Eyewear procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of safety eyewear. This report includes safety glasses and goggles for industrial and military use. Protective eyewear includes a wide array of products such as impact-resistant goggles, welding goggles, ballistic glasses and waterproof eyewear. Suppliers of safety eyewear include manufacturers, wholesalers and retailers. This report excludes safety eyewear as a component of full-face headgear such as motorcycle helmets, gas masks and hazmat suits. It also excludes recreational sunglasses, prescription corrective glasses and reading glasses.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement 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.