Rising number of hand cuts, arm injuries, and abrasions in the workplace are expected to fuel market demand in future. Costs associated with rising loss time injuries has urged employers of various end-use industries such as chemical, manufacturing, and mining industries to necessitate the usage of gloves in their operating facilities.
Chemical handling dominated and accounted for over 30% of total market revenue in 2015. This segment is also expected to be the fastest growing product from 2016 to 2024. Chemical resistant gloves have gained significance among workplace operations that are involved in handling chemicals such as hydrochloric acid, ammonium hydroxide, esters, alcohols, and amines.
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Aforementioned factors coupled with its enhanced resilience to abrasion and chemicals are expected to drive nitrile glove demand over the next eight years. This product segment is expected to emerge as the fastest growing category and is expected to be a net worth of USD 1,740 million by 2024.
Further key findings from the report suggest:
Disposable gloves are anticipated to emerge as the fastest growing product segment and to be net worth of USD 6,934.5 million by 2024.
Mechanical gloves are expected to emerge as fastest growing product segment in the durable category with a CAGR of 6.6% over the next eight years.
Leather material dominated the global protective gloves market and accounted for 24.8% of global market share in 2015.
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Europe emerged as the leading regional market and was valued at USD 2,946.4 million in 2015. Stringent workplace regulations in the region have contributed towards its high penetration.
Asia Pacific is anticipated to emerge as fastest growing protective gloves market with a CAGR of 7.3% over the next eight years.
Major players operating in the industry include 3M Company, Alpha Pro Tech, Honeywell, MSA, Kimberley Clark, Delta Plus, Superior Glove Works, Uvex, Midas Safety, Hartalega, Top Glove, and Kossan Rubber.
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