By Taru Jain and Arathy S Nair
(Reuters) – Industrial materials maker DuPont (N:DD) is doubling production of protective garments it makes from its Tyvek material to about 30 million a month to help meet increased demand due to the coronavirus outbreak.
The spread of the pandemic across Europe and the United States has led to a worldwide scramble for protective masks, gowns and gloves worn by healthcare and other workers battling to curb the spread of the virus.
Johns Hopkins Center for Health Security estimated this month that a single 100-day COVID-19 wave would create a need for 321 million more isolation gowns, such as those made by Dupont, in the United States alone.
Before the coronavirus crisis, the global market for personal protective equipment (PPE) was valued at about $40 billion annually, with Dupont and U.S. peers Honeywell International Inc (N:HON) and 3M Co (N:MMM) among the biggest players. That will now increase.
“We’re producing up to almost two times the number of garments per month to help support the demand that’s currently in front of us,” John Richard, vice president of DuPont’s safety business told Reuters.
DuPont’s Tyvek, a fabric used in gowns and coveralls for protective use, has been a silver lining for the company as it faces steep declines in demand for its products in the auto sector and other industries hammered by the virus outbreak.
The company pulled its full-year forecast on Monday, but estimated first-quarter profit would top Wall Street estimates on demand for products such as Tyvek and those used in water filtration.
The industrial giant, a top player in the PPE market with other products such as protective gloves, flame-resistant and chemical protective clothing, said everything it was producing was being sold promptly.
The company expects the heightened demand to continue at least until later this year as industries resume operations and bring back workers using additional safety measures. DuPont, which makes Tyvek in Richmond, Virginia and Luxembourg, has re-purposed its manufacturing operations and simplified some designs to eke out more pieces per square area of the fabric.
DuPont doubles output of protective gowns to 30 million per month
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.