Increasing awareness among the business owners about worker's safety coupled with stringent regulations to prevent occupational hazards will drive industrial safety gloves market.
Sellbyville, DE -- (SBWIRE) -- 05/09/2019 -- Global Market Insights recently introduced new report on global Industrial Safety Gloves market with an in-depth study providing complete analysis of the industry size, share and statistics for the period 2019 to 2024. It also provides complete overview of Industrial Safety Gloves industry considering all the major industry trends, market dynamics and competitive scenario.
Occupational accidents result in huge losses in terms of lives, reimbursement to families, infrastructure damages, work disturbance and legal issues. Manufacturers have comprehended the negative impacts of these occurrences on the manufacturing process as well as the company's reputation. This will garner higher spending on personal protective equipment, thus supplementing industrial safety gloves market growth.
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Increasing awareness among the business owners about worker's safety coupled with stringent regulations to prevent occupational hazards will drive industrial safety gloves market. In 2016, the U.S. Department of Labor and Bureau of Labor Statistics stated that nearly 2.9 million workplace injuries and illness have been reported due to improper utilization of personal protective equipment. Industrialist are expected to implement precautionary measures to reduce such incidents, thereby fostering product demand.
Mechanical industrial safety gloves dominate the market accounting for over 55% of the volume share in 2017. Key properties including excellent cut resistance, grip, dexterity and abrasion resistance likely to fuel product adoption rate. Strong application outlook for mining, automotive, heavy machinery equipment, assembling plants and industrial handling will boost their industry share over the forecast timeframe. They are highly durable and work effectively in machinery manufacturing, handling and maintenance.
Stringent standards set by regulatory bodies such as OSHA, EU, American National Standard for Hand Protection (ANSHP) will encourage manufacturers to adopt protective measures to improve worker safety. In addition, hand protection also offers dual benefit of protection from hazards and preventing commodities from contaminants, which in turn, augments product application scope.
Nitrile gloves are estimated to grow at 6.6% CAGR up to 2024. The product offers exceptional chemical resistance, tactile sensitivity, dexterity, comfort and puncture resistance when compared to vinyl and rubber material. Increasing necessity to maintain hygienic conditions in critical environment and prevent the risk of chemical, microbial & bacterial contamination will bolster industrial safety gloves market.
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Automotive is estimated to be the largest application and was valued at over USD 1.5 Billion in 2017. Rapid expansion of automotive industry in developing economies including China, Brazil and South Africa owing to favorable macroeconomic conditions will enhance product sales over the forecast period. Extensive use in body painting, press shop operations, assembling operations and dexterity applications will provide strong business outlook for manufacturers.
North America industrial safety gloves market accounted for over 35% share in 2017. Strong presence of large-scale industries such as automotive, chemical, machinery & equipment will drive regional growth. Moreover, the stringent regulations implemented by the regional regulatory bodies such as OSHA, ANSHP on occupational safety will encourage product adoption rate.
The Industrial Safety Gloves market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Industrial Safety Gloves market based on product, technology, end user and region.
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The global industrial safety gloves market is highly fragmented owing to the presence of both regional and multinational players. Major manufacturers in the industrial safety gloves are:
- Top Glove Corporation Bhd
- Ansell Limited
- Riverstone Holdings Limited
- Rubberex (M) Sdn Bhd
- Honeywell International
Include Mergers & acquisition, product development, capacity expansions and collaborations are key strategies adopted by the market players to gain market share. For instance, in April 2018, Top Glove Corporation Bhd completed the acquisition of Aspion Sdn Bhd, a Malaysian glove manufacturer.
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