A report recently published by Persistence Market Insights (PMR) projects that global industrial gloves market is reflecting a CAGR of 9.2% during the forecast period (2017–2025).
New York, NY -- (SBWIRE) -- 10/06/2017 -- Persistence Market Research in its new report projects that in 2017, around 113,272 Mn pairs of industrial gloves will be sold worldwide. As per the estimate, hand injuries are among the leading work accidents, hence regulatory bodies are trying to enforce strict worker safety regulations making industrial gloves a compulsory safety gear. According to the report, the global industrial gloves market is set to increase at a CAGR of 9.2% over the forecast period (2017-2025) to reach a valuation of US$ 12,294.3 Mn by 2025-end. Demand for protective and safety products (especially fire and cut resistant industrial gloves) is expected to increase due to the changing nature and type of industrial hazards resulting from the increased use of new materials, paints, and interior designs. This will push manufacturers of industrial glove to introduce more durable products that can ensure greater safety from modern industrial workplace atrocities. For manufacturers, potential market opportunities lie in the development of modified protective industrial gloves that ensure protection to workers and operators against threats.
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Additional Excerpts from the Report Include:
The oil & gas and chemical sector is expected to exhibit strong demand for hand and arm protection equipment. Flash fires and burns are main concerns in these industries, which mandates the use of flame resistant gloves and other hand protection equipment. The report cites that robust industrial growth in emerging counties is also facilitating the adoption of industrial gloves. Major industrial sectors, including mining, construction, utilities, and oil and gas are currently witnessing a boom in countries such as China, Brazil, and India, consequently demand for worker safety equipment is also on the rise in these countries. Factors as such are likely to favor the growth of the global industrial gloves market over the next couple of years.
Based on material type, around 41,902 Mn pairs of nitrile gloves were sold globally and is expected to remain the predominant segment throughout the forecast period. The HPPE grove segment, on the other hand, is slated to register the fastest CAGR both in terms of value and volume, owing to its rapid adoption in various industrial sectors.
Based on coating type, nitrile coted gloves offer superior protection from heat and reactive chemicals during their rigorous use, hence is preferred in most manufacturing sectors. These gloves are also commonly healthcare examination. Nevertheless, manufacturers are trying to improve it endurance against ozone, oxygen, and ultraviolet light.
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The strict regulations and rules imposed by the government and the other regulating bodies on the manufacturers in the developed regions such as North America, Europe and Japan continues to make them lucrative markets for industrial gloves. Particularly, the market in North America is projected to register the fastest CAGR during the forecast period. Meanwhile, a notable increase in sales of industrial gloves has been observed in BRICS nations (Brazil, Russia, India, China and South Africa). Market players are trying to improve product quality by implementing innovative technologies as well as by using tougher and long lasting raw materials and offer additional features in their products at a competitive price point.
Ansell Limited, Dipped Products Plc, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd., Top Glove Corporation Bhd, Rubberex Corporation (M) Bhd., Globus (Shetland) Ltd., Johnson Wilshire Inc., Protective Industrial Products, Inc (PIP), Smart Glove Corporation Sdn. Bhd., Southern Glove, Inc., 3M Company, Uvex Winter Holding GmbH & Co. KG, SEMPERIT AG HOLDING, Riverstone Holdings Limited., Supermax Corp. Bhd, Honeywell International, Inc., Magid Glove & Safety Manufacturing Company LLC., Lakeland Industries, Inc. and Shun Thai Rubber Gloves Industry Public Company Limited are some of the leading companies operating in the global industrial gloves market.
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