Rapid Industrialization Catalyzes Demand for Protective Footwear in Asia Pacific, Finds Frost & Sullivan

Rapid Industrialization Catalyzes Demand for Protective Footwear in Asia Pacific, Finds Frost & Sullivan PR Newswire KUALA LUMPUR, Malaysia, Oct. 8, 2012 - End users opt for products that provide better support and safety KUALA LUMPUR, Malaysia, Oct. 8, 2012 /PRNewswire/ -- Increasing labour and production costs have forced many manufacturing giants to relocate their production bases to Asian countries. As multinational companies with better safety programs continue to enter the region, the number of employees using protective footwear is increasing steadily, thereby presenting significant opportunities for the Asia Pacific protective footwear market. New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Analysis of the Asia-Pacific Protective Footwear Market, finds that the market earned revenues of US$331.2 million in 2011 and estimates this to reach US$435.5 million in 2016. The market is at various stages of development in different regions. While the Southeast Asian market is driven by improved legislation, enforcement and awareness among end users, the Australia-New Zealand market is more mature, highly penetrated and slow growing, driven by customer demand for quality, comfort and style. "Countries such as Indonesia, the Philippines and Thailand, with expanding industrial sectors like manufacturing, construction and mining, are fertile markets for protective footwear," said Frost & Sullivan Research Analyst Anita Pamu.