Portland, OR -- (SBWire) -- 09/13/2017 --According to the latest market intelligence from Allied Market Research on the global Disposable Gloves Market, the market is set to accrue $17,242 million by 2022. It will exhibit a compound annual growth rate of 12.6% during the forecast period 2016–2022. Extensive research and analysis conducted revealed that Asia-Pacific will dominate the global disposable gloves market with a CAGR of 14.9% in the analysis period.
The advancement in technology has led to better manufacturing techniques that optimize the cost of disposable gloves. The availability of better hygiene at a lower cost has propelled the growth of the market. However, the high price competition restricts the growth of the market. The market has been affected the worst due to the toxic reactions to certain gloves. With cases of toxic reactions, the reliability factor has gone down. The production of rubber is greatly affected by the changing environmental conditions. Undesirable changes in the environment adversely impact the production of natural rubber, thus acting as a major obstacle in the path of the global disposable gloves market.
Potential investors and stakeholders have large opportunities to grow with the modification and innovations in technology. The reach of the disposable gloves market is limited. With its penetration into the untapped markets in the developing countries and the rapid urbanization leading to dynamic economies, the global disposable gloves market is envisioned to thrive in the forecast period.
The global disposable gloves market is segmented based on the type of material, type of glove, and by the application. The disposable gloves available based on the materials used include natural rubber gloves, nitrile gloves, vinyl gloves, neoprene gloves, and polyethylene gloves. The types of gloves available are powdered and non-powdered gloves. The applications segment is further divided into medical gloves and non-medical gloves. Medical gloves include examination gloves and surgical gloves. Food service application, industrial applications such as manufacturing and mining, and the household applications are the non-medical applications of the disposable gloves.
The presence of the market in the regions of North America, Europe, Asia-Pacific, and LAMEA have been analyzed within the scope of the study. The North American market is foreseen to be dominated by Mexico, growing at a CAGR of 13.8%. The usage of powdered gloves in North America covered almost 40% of the global market share. The Asia-Pacific disposable gloves market is dominated by the countries of China and Japan.
Porter's Five Forces Analysis of the market states that the intensity of competitive rivalry in the global disposable market is extremely high. The key players responsible for the intense competition include Ansell limited, Hartalega Holdings Berhad, Supermax Corporation Berhad, Kossan Rubber Industries Ltd., Rubberex Corporation Berhad, Top Glove Corporation Berhad, Adventa Berhad, Cardinal Health, Inc., Dynarex Corporation, and Semperit AG Holding.
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Key Points of the report
- Asia-Pacific and Europe accounted for more than half of the market share in 2015 owing to the innovations in products stemming from technological advancements in the global disposable gloves market.
- Non-powdered disposable gloves are expected to maintain their dominance over the global market, growing at a CAGR of 13.2%.
- In terms of convenience and popularity among the end users, natural rubber gloves are anticipated to show the highest growth rate of 12.0% by garnering $6,614 million by the end of the forecast period.
- The use of medical gloves for examination activities is expected to boost their sale and exhibit a growth rate of 6.2% during the forecast period.
- The value of the European disposable gloves market was found to be approximately three-fifths of the global market.
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Disposable Gloves Market- Global Opportunity Analysis and Industry Forecast, 2014–2022