Protective Masks Market Size is expected to be valued at USD 16.9 billion in 2022 and growing at a CAGR of 3.5% over the forecast period by 2028. Rising cases of COVID-19 infection, growing number of surgeries, increasing awareness regarding protective benefits of masks and government guidelines on usage of masks act as drivers boosting the global market. There are few restrain which the growth such as low profit margin and government regulation for manufacturing N95 masks. Growing number of organizations and nations are stocking up on safe face masks provide multiple opportunities to the global protective masks market. This report studies global protective masks market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global protective masks market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global protective masks market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and service providers engaged in global protective masks market
In March 2020, BYD Company announced that it opened one of the largest facilities to manufacture face masks. This expansion enabled the company to meet the acute shortage of face masks, thus expanding their protective face masks portfolio and increased their market penetration.
In March 2020, General Motors announced setting up a face mask manufacturing plant that could produce up to 50,000 protective face masks in a day. This strategy enabled the company to provide essential face masks to the U.S and increased their market share.