Industrial Protective Footwear Market in South America Industry 2020 Industry and Market studies Research Report
Industrial protective footwear market encompasses safety footwear utilized for workplace safety across various industries such as construction, manufacturing, oil and gas, chemicals, and pharmaceuticals among others. Stringent government regulations along with increasing number of workplace accidents are the major factors driving the demand for industrial protective footwear currently. The industrial protective footwear market is likely to experience robust growth during the forecast period due to the impact of these regulations.
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This report has been segmented by country and by application. The study highlights current market trends and provides the forecast from 2014 to 2020. We have also covered the current market scenario for industrial protective footwear and highlighted future trends which will affect the demand for industrial protective footwear in this region. By country, the market has been segmented into Brazil, Chile, Peru, Colombia, Venezuela and Uruguay. The present market size and forecast until 2020 has been provided in the report. The report also analyzes macro economic factors affecting and restraining growth of the industrial protective footwear market in this region. Apart from this, the report also covers the entry barriers (tariff and non-tariff) for new business utilities in the industrial protective footwear market in South America.
The applications for industrial protective footwear in the others segment held the largest market share in Brazil. The others segment includes government usage, agriculture, small scale manufacturing and unorganized sector. Agriculture is one of the major segments contributing to the gross domestic product of Brazil. In addition, pharmaceutical is one of the fastest growing application segments in this region. The pharmaceuticals segment was valued at 0.56 million pairs in 2013 and is expected to witness a robust growth in the forecast period. The growth in this segment is attributed to the increasing demand for early diagnosis and sophisticated medical procedures. Moreover, the increasing awareness of workplace safety is also boosting the demand for industrial protective footwear in Brazil.
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Manufacturing is the largest application segment in Colombia. The manufacturing segment was valued at USD 21.4 million in 2013 and is expected to have a stable growth during the forecast period. However, pharmaceutical is the fastest growing segment in this region valued at 0.08 million pairs in 2013. Apart from this, rapid industrialization and increasing awareness of workplace safety is also boosting the demand for industrial protective footwear in Colombia. In addition to this, the foreign manufacturers in order to sell their products in the local markets in this region have to comply with the mandatory standards and norms. The standards are pegged to the international standards with little changes according to the cultural requirements of the country.
The application of industrial protective footwear in the others segment held the largest share in Venezuela. The growth in this segment is attributed to the increasing awareness and usage in the agricultural segment. However, oil and gas is one of the major application segments for industrial protective footwear in Venezuela. In addition, the average selling prices in Venezuela are much higher as compared to the other countries in South America. The high tariff rates are is the major factor leading to the higher prices in this region. Construction is the fastest growing application segment for industrial protective footwear in Venezuela. The construction segment was valued at USD 3.6 million in 2013 and is expected to witness robust growth in the forecast period.
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In terms of volume in million pairs the others segment held the largest share for industrial protective footwear in Uruguay. The others segment was valued at 0.044 million pairs in 2013. Increasing demand in the field of agriculture due to increasing awareness of workplace safety is one of the major factors boosting the growth in this segment.
Furthermore, government regulations in these countries act as restraining forces for the new business entrants to the local markets. In addition, there are most favored nation (MFN) rates and sales tax and other duties which are to be followed compulsorily by foreign manufacturers.
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