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New Product Launches is the Key Strategy Adopted by the Industry Players to Achieve Growth in the Hazmat Suit Market
Dupont Inc. (U.S.), Lakeland Industries, Inc. (U.S.), Alpha Pro Tech. (U.S.), among others are some of the major companies operating in the hazmat suit market. These companies account for a major share of the hazmat suit market and have manufacturing facilities across key regions, such as North America, Asia-Pacific and Latin America, with a strong distribution network. These companies adopted growth strategies such as new product launches, new contracts, and others. Mergers and acquisitions is one of the least followed strategies by the major players in the market.
Companies have adopted the strategy of new product launches to increase their market share in the growing hazmat suit market. New product launches is the key strategy adopted by major industry players to foster growth in the hazmat suit market. This strategy is most common of all the growth strategies adopted by the key market players. Apart from the new product launches, new contracts is the second-largest strategy adopted by the major industry players as it is helping in increasing their market share.
Haylard Health Inc and 3M Company are major players who have adopted this strategy. The new product help these companies increase their market share, by rapidly expanding in some of the new evolving segments.
Lakeland Industries Inc. (U.S.) is another key player in the hazmat suit market. In august 2014, Lakeland Industries Inc. launched a new product for the oil and gas end use. The new hazmat suit i.e. NC070FRC FR Coveralls is specifically designed to keep the oil & gas workers comfortable on the job sites with high temperatures. The development was aimed at providing an enhanced product which will specifically cater to the oil & gas applications.
In April 2016, Kimberly Clark Corporation launched two new products named Jackson Safety Airmax Elite Powered Air Purifying Respirator and the Truesight II Auto-darkening Filter Welding Helmet, which are used as personal protective equipment by the industrial sector. This newly launched product will help the company increase its offerings for the hazmat suits market.
Hazmat Suits Market by Application (Chemical Waste, Infection Control & Bio-Hazard, Hazardous Material), End-Use (Oil & Gas, Mining & Metallurgy, Construction, Manufacturing, Transportation, Utilities, Healthcare), Safety Standards - Global Forecast to 2021
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