Europe Protective Face Mask Market Demand Analysis in 2020, Top Companies Growth Forecast to 2027 by Fortune Business Insights™
The Europe protective face mask market size is projected to reach USD 12,619.29 million by 2027, exhibiting a CAGR of 8.7% during the forecast period. Fortune Business Insights™ shares an in-depth analysis of this market in its report, titled “Europe Protective Face Mask Market, 2020-2027”. The report states that the value of this market stood at USD 1,327.67 million in 2019.
Stringent Mask Regulations to Catalyze the Europe Protective Face Mask Market Growth
The uncontrolled spread of the coronavirus in Europe has forced governments in many European countries to impose strict face-covering regulations. In July 2020, for instance, the UK government issued a series of guidelines and rules, making the wearing of protective type of face masks in enclosed public spaces, such as supermarkets and subway stations, compulsory. Those not complying were fined up to £100 by the police. In January 2021, the German government formulated new rules mandating the type of mask citizens have to wear while traveling through public transport or while shopping. According to the new rules, people will now have to wear a medical or surgical-grade mask while using public transport or while visiting supermarkets or similar enclosed spaces. Similar instructions were issued in France as well during the same month.
Medicom to Establish Mask Manufacturing Facility in Singapore
In June 2020, the Medicom Group unveiled its plans of building a manufacturing facility for making protective face masks in Singapore, as part of its strategy to bolster its global presence. The new plant will be set up under the name KHM Engineering and will have the capacity to produce millions of masks every month. Highlighting the criticality of optimizing supply chains of personal protective equipment (PPE) amid the on-going COVID-19 pandemic, Medicom aims at expanding its reach to end-use industries in the burgeoning economies of Southeast Asia. A Canada-based company, Medicom has built a strong presence across Europe, having a corporate office in the Netherlands and production plants in France.
Healthcare Segment to Hold Commanding Position
Based on application, the market has been segmented into healthcare, oil & gas, mining, construction, manufacturing, and others. Among these, the healthcare segment will lead the Europe protective face mask market share during the forecast period as healthcare workers at hospitals and clinics are heavily dependent on PPE to safeguard themselves and the patients from COVID-19.
On the basis of type, this market has been segregated into medical face masks, respirators, and others. In terms of usage, the Europe market has been categorized into disposable and reusable. By country, the market has been clubbed into Germany, the UK, France, Italy, Spain, Russia, and the Rest of Europe.
Lucrative Opportunities Await Market Players in the Europe Protective Face Mask Market
The persistent rise in coronavirus cases in Europe, along with a steady increase in deaths, is creating lucrative opportunities for market players. For example, in May 2020, Honeywell announced plans to construct a new production line in Newhouse, Scotland to produce 70 million protective type of face masks under an agreement signed by the company with the UK government. The new facility is also estimated to generate 450 jobs in the region. Furthermore, recognizing the need to meet the supply-demand gap in facemasks, apparel and textile manufacturers have also entered the fray, driving the regional market growth.
Investments to Increase Production by Key Players to Characterize Market Competition
The investment decisions of key players are currently governed by the coronavirus pandemic. Most companies have doubled down investments to rapidly boost production capabilities and serve the escalating demand for protective face masks, thus aiding governmental efforts to contain the pandemic. As a result, the competitive landscape of this market is getting increasingly characterized by urgent partnerships between government authorities and leading market participants.