Rising awareness about the workers’ wellbeing and the increasing number of occupational fatalities in the manufacturing sector will be the key impetus for the industrial safety gloves market penetration.
Sellbyville, DE -- (SBWIRE) -- 01/14/2019 -- The qualitative research study conducted by Global Market Insights, Inc. titled "Industrial Safety Gloves Market" provides primary Data, surveys, Scope of the Product and vendor briefings. The market dynamic forces have been determined after conducting a detailed study of the Global Industrial Safety Gloves Market.
Industrial Safety Gloves Market size is estimated to surpass USD 9 billion by 2024. Rising awareness about the workers' wellbeing and the increasing number of occupational fatalities in the manufacturing sector will be the key impetus for the industrial safety gloves market penetration. Standards set by the OSHA, American National Standard for Hand Protection (ANSHP), and EU standards will encourage industrialists to take protective measures against workers' safety.
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Mechanical industrial safety gloves market will witness over 7.5% CAGR in terms of revenue up to 2024. These products are highly durable and work effectively in machinery manufacturing, handling and maintenance. Increasing workers' protection concerns against higher mechanical risk associated with several industries including construction, automotive, mining, manufacturing, steel, machinery, and the equipment industry will enhance the overall business expansion.
Natural rubber industrial safety gloves market is projected to surpass 4 billion units by 2024. Natural rubber latex is used in the manufacturing process owing to the resistance offered by it against acids, iodine, chlorine, formaldehyde and bases. Increasing natural rubber protective glove usage in the manufacturing and food processing applications will augment the product portfolio. Key properties such as high durability, dexterity, fitting and comfort along with environmentally friendly and cost-effective will further boost the business expansion.
Automotive application of the industrial safety gloves was valued over USD 1.5 billion in 2017. Major applications in the automotive industry, including press shop operations, dexterity applications, body painting and assembling operations. Surging numerous machinery handling by the workers in the automotive sector owing to the shifting consumer preferences towards the electric vehicle segment will propel the overall industry landscape.
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Europe industrial safety gloves market will witness a CAGR over 7% from 2018 to 2024. Stringent government guidelines and regulations pertaining to the use of protective wear and its quality benchmarks will promote product penetration in the region. HSE provides a regulatory framework for workplace wellness in Great Britain. High applications and requirement of the product in major countries, including Germany and Russia will drive the overall regional industry growth.
Latin America industrial safety gloves market will surpass USD 700 million by 2024. Rapid industrialization, rising awareness about security in industries, and the implementation of protective regulations are among the major growth drivers in the region. The region receives its supply majorly from Southeast Asia and various countries that have trade agreements with glove manufacturing countries.
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The global industry share is highly fragmented with the presence of large number of multinational as well as regional manufacturers. Ansell Limited, Honeywell International, Top Glove Corporation Bhd, Riverstone Holdings Limited and Rubberex (M) Sdn Bhd are among the major manufacturers in the business. The manufacturers are majorly involved in business expansion, mergers & acquisitions along with joint ventures, and numerous products launches to gain a competitive edge over others. For instance, in June 2018, Ansell Limited introduced Alphatec 58-735, a new innovative multi-hazard hand protection safety glove. This helped the company to expand its industrial safety gloves products portfolio in the market.
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