Protective Eyewear Manufacturing
Operators in the Protective Eyewear Manufacturing industry manufacture safety glasses, protective goggles and face shields to safeguard eyes from debris, chemicals, radiation and blood-borne pathogens. The National Institute for Occupational Safety and Health reports that an estimated 2,000 employee...
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| Language: | eng |
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| Summary: | Operators in the Protective Eyewear Manufacturing industry manufacture safety glasses, protective goggles and face shields to safeguard eyes from debris, chemicals, radiation and blood-borne pathogens. 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.
Workplace eye safety standards were first introduced in 1968 by the American National Standards Association and enforced after the formation of the Occupational Safety and Health Administration (OSHA) in 1970. Since then, OSHA has developed more stringent regulations. While these regulations have supported industry revenue, declines in the overall manufacturing sector have caused revenue declines during the previous five-year period. In addition, the rising value of the US dollar has contributed to greater competition from imports, further pushing revenue down. As a result, over the five years to 2021, industry revenue is expected to increase at an annualized rate of just 0.5% to $635.9 million. However, after declining during the COVID-19 (coronavirus) pandemic, industry revenue is expected to grow 3.4% in 2021 as COVID restrictions are rolled back and downstream demand for safety supplies increases. Furthermore, an estimated 62 companies manufacture industry products domestically. Over the five years to 2021, the number of industry operators is estimated to decrease at an annualized rate of 0.6%. Additionally, high manufacturing costs and rising prices for plastic materials have created an industry in which more than half of domestic demand is supplied through imports.
Over the five years to 2026, imports are expected to continue growing as domestic manufacturers focus on higher value-added products with increased functionality and design elements. Though domestic demand will increase, further import penetration will keep domestic industry revenue growth from increasing drastically. Over the next five years industry revenue is projected to grow at an annualized rate of only 0.7% to $658.1 million. Additionally, increased import penetration will keep industry product prices from rising, allowing profit margins to stabilize over the next five years. |
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