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Opportunities for Mineral Exploration have Resulted in an Exponential Growth in Mining Investment in the Region, which will Support the Growth of the PPE Industry in the Coming Years
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This research service covers the personal protective equipment (PPE) used in the Latin America mining industry. Coal and mineral mining operations have been included. Mining for oil and gas has been excluded from the scope of the research.The PPE market is covered in a total of 7 product segments—above-the-neck protection, respiratory protection, protective gloves, workwear, protective footwear, fall protection, and gas detection. Latin America is a major producer of base and ferrous metals, particularly copper and iron ore. The major mining countries in Latin America are Chile, Argentina, Bolivia, Brazil, and Peru. Brazil is one of the leading producers of iron ore, bauxite, alumina, aluminum, niobium, nickel, and zinc. Resource nationalism prevails strongly in Latin America, with mining nationalization in Bolivia, a ban of open-pit mining in Argentina, and gold nationalization in Venezuela. However, Latin America ranks the highest in terms of foreign investment in the global mining industry, due to the vast untapped resources in the region.Mining is one of the private segments with the most significant investments in the region, which strengthens the region’s outlook for growth.Latin America is expected to be one of the most promising mining sectors in the forecast period.According to data published by the United States Geological Survey (USGS), Latin America continues to be the top destination for mineral exploration. Around 57% of mineral deposits explored in Latin America contained gold and silver and approximately 22% contained base metals. Rising exploration activities are expected to support the mining PPE industry growth during the forecast period.There has been a rising demand for lithium, predominantly for manufacturing lithium-ion batteries electric vehicles. Increasing focus by major investors on exploring lithium, especially in Argentina, Chile, and Bolivia (“The lithium triangle”) is expected to propel the demand for PPE in the region.Progressive mining policies such as formalizing informal miners and distributing royalties earned from mining to local communities coupled with abundant availability of natural resources are likely to be the growth factors for the mining industry in the region. The region has also witnessed increasing investment from China. These factors, in turn, support a robust growth for the PPE revenues during the forecast period. Key Questions this Study will Answer• Is the market growing, how long will it continue to grow, and at what rate?• Are the existing competitors structured correctly to meet customer needs?• How do the dynamics of the industry and regional diversities affect the PPE market?• How will the structure of the market change with time?• Are the products/services offered today meeting customer needs, or is additional development needed?
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