Industrial Hand Gloves Market Business Analysis, CAGR, Production, Rising Trends And Manufacturers Growth Outlook to 2030
Market Overview –
Industrial Hand Gloves Market is projected to be worth USD 15.91 billion by 2027, registering a CAGR of 7% during the forecast period (2021 – 2027), The industrial safety gloves market was valued at USD 10 billion in 2020.
The fast growing food processing and healthcare industries across the world has resulted in rapid expansion of the industrial hand gloves market. North America, with the huge number of end-use industries, generates high demand for these hand gloves. North American government implements several strict regulations with regard to safety of working individuals. In case of any irregularities, the employer can face heavy penalties, leading to poor image of the company among the consumers in the market. These types of strict regulations across countries like Canada, Germany, France and the U.S. can be conducive for the growth of the industrial gloves market.
Furthermore, employees are required to use these gloves during all the operations for better performance and more comfort. Since these gloves have long working life, provide firm grip and are cut resistant, they observe more demand across a variety of prominent industries. In addition to this, disposable gloves are gaining favor across the healthcare industry, especially in emerging countries, thanks to the surge in infectious diseases and viral outbreaks. For instance, the COVID-19 outbreak in 2020 has compelled manufacturers to work on supplying more disposable gloves across regions to bridge the expanding supply-demand gap.
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Mounting awareness about the health and safety measures related to patient treatment as well as emergency response events can also mean better business prospects for hand gloves in the healthcare sector. Additionally, the high possibility of on-the-job germs transmission along with transference of blood borne pathogens has necessitated the use of disposable gloves, resulting in higher market demand in healthcare facilities. Other than the healthcare sector, industrial hand gloves have gained significant ground in the food industry, in line with the changing lifestyles of consumers and the consequent surge in the demand for ready-to-eat food.
Leading Participants
- Towa Corporation (Japan)
- Rubberex (Malaysia)
- Shamrock Manufacturing Company Inc. (the US)
- Top Glove Corporation Bhd (Malaysia)
- Semperit AG Holding (Austria)
- Kossan Rubber Industries Bhd (Malaysia)
- 3M (US)
- Globus (Shetland) Ltd (UK)
- Honeywell International Inc. (US)
- Ansell Ltd (Australia)
Market Segmentation
The primary segments considered in the study of the industrial hand gloves market include material, product and application.
The industrial hand gloves market, with respect to the material, covers leather gloves, natural rubber, nitrile gloves, polyethylene gloves, metal mesh gloves, neoprene gloves, and others. In 2018, the market was controlled by the natural rubber segment and its dominance is anticipated to continue even during the conjectured period. Natural rubber notes rampant demand in the food & beverage industry and in the past few years, has emerged as a highly favored product in the chemical sector as well. These gloves have also observed a boost in their household applications across the residential sector.
The types of products described in the report are reusable gloves as well as disposable gloves. Disposable gloves account for higher demand in the market compared to the reusable ones. The widespread use in a variety of industries like chemical, automotive, beverage, food and more helps stimulate the demand for disposable gloves. Since the future prospects of these industries are quite lucrative, it is safe to assume that the demand rate for disposable gloves can remain the same or can increase during the review period.
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Main applications of industrial hand gloves are construction industry, chemical industry, healthcare industry, food & beverage industry, automotive industry, and others. As of 2018, the healthcare industry was the dominant segment in the market and based on its growth rate, it is estimated that it can retain its lead throughout the evaluation period. Disposable, nitrile, natural and latex rubber gloves are extensively deployed in the healthcare industry.
Regional Insight
The main regions across which the industrial hand gloves market is anticipated to grow during the review timeline are Europe, North America, Asia Pacific or APAC as well as the rest of the world or RoW.
APAC’s growth in the global market for industrial hand gloves has been remarkable and it seems that the region can observe even better growth in the ensuing years. The massive investments by the government in the enhancement of workers’ safety along with the expeditious industrialization are important growth boosters in the regional market. The food, chemicals, electronics and automobiles sectors are expanding at a swift pace, and the outcome of this is the growing demand for industrial hand gloves. Easy availability of natural rubber has made APAC one of the top manufacturers in the world, with Thailand, Malaysia and Indonesia being the leading producers.
The RoW market mainly includes the Middle East & Africa and South America. This market is advancing at a decent rate, evidently due to the rising use of industrial hand gloves in oil & gas, construction, chemical and mining industries. The oil & gas and construction industries in the region are thriving and can note further growth in the coming years, which can mean excellent business for industrial hand gloves during the appraisal period.
Industry News
The pandemic has called for public procurement experts to deviate from their normal procedures in order to assign preference to PPE transactions. Gershwind said the burden on the supply chains of nitrile gloves is special. Nitrile gloves are the newest piece of protective equipment that threatens distribution networks as the coronavirus pandemic progresses to another full year. Nitrile gloves are used across sectors, from food processing to vaccine administration.
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