A comprehensive Assessment of Trends in Global Industrial Gloves Market
The industrial hand gloves market 2020 is expected to exhibit steady growth. Industrial hand gloves are one of the primary parts of a worker’s protective gear. Its demand is likely to increase with the development of the industrial sector. However, the increase in demand is poised to be steady. It is for a lot of factors that the demand for the product is likely to increase in the coming years. In fact, the demand growth also depends on the different uses these gloves are designed for. To illustrate, in the food & beverage industry, these gloves are more likely to support in maintaining hygiene standards. However, in mining industries, these gloves serve the purpose of protecting hands from eternal injuries and dust. Thus, the demand for industrial gloves, to a great extent, is dependent on the growth of the end-user industries.
The Global Industrial Hand Gloves Market is poised to grow over USD 9,583.7 million by 2025 at an estimated CAGR of 7.29% through the forecast period.
The key players of the global industrial hand gloves market are Towa Corporation (Japan), Top Glove Corporation Bhd (Malaysia), Shamrock Manufacturing Company, Inc. (the US), Globus (Shetland) Ltd (UK), Rubberex (Malaysia), Semperit AG Holding (Austria), Ansell Ltd (Australia), Honeywell International Inc. (US), 3M (US), and Kossan Rubber Industries Bhd (Malaysia).
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The Role of End-Use Industries in Market Growth
The healthcare industry is observed to account for a major share of the demand for industrial gloves. The types of gloves used in this industry are disposable, latex, nitrile, and natural rubber. Medical gloves are mandated to avoid transmission of infection. It is quintessential in the industry to use gloves before any checkup or surgery. The growth of the industry is poised to drive the growth of the industrial gloves market in the foreseeable future. Also, the rising number of surgeries being performed on a daily basis across the world is rapidly increasing. It is because of the rising patient population, coupled with rising number of disorders and diseases being registered every day. In addition, the cases of accidents and other major incidents leading to injuries are also seen to rise. All these factors are supposed to boost the growth of the industrial gloves market.
Product Based Analysis of the Industrial Gloves Market
Reusable and disposable are the two types of products available in the market. Some industries prefer the former while others are inclined to use disposable gloves. Again, it depends on the purpose for which these gloves are used. Medical gloves can’t be reused as it can pose serious threat to the lives of the patients. In fact, disposable gloves are observed to hold a major share in the industrial gloves market. This trend of industrial disposable gloves accounting for a higher fraction of the demand is likely to continue over the next few years. However, reusable gloves have found application in industries such as chemical, automotive, food and beverage, etc. Increasing growth rate of these industries is presumed to have a favorable impact on the growth curve of the industrial gloves market.
Importance on Material in Growth of Industrial Gloves Market
Among all the materials used in the production of these gloves, which are – natural rubber, polyethylene gloves, leather gloves, nitrile gloves, metal mesh gloves, and neoprene gloves – the natural rubber as a material is projected to witness higher demand. These type of gloves are majorly used in the food & beverage industry. Increasing standard of living, as well as implementation of laws regarding maintenance of hygiene standards, are expected to drive the demand for industrial rubber gloves in the industry. Also, a rise in household applications is being observed. It is also expected to boost the demand for industrial gloves over the next couple of years.
Regional Distribution of Demand for Industrial Gloves
Asia Pacific has been witnessing rapid industrialization. It is, therefore, likely to witness rapid growth of the industrial gloves market. A rise in demand for waterproof gloves, safety gloves, etc. is supposed to be observed. Thus, the region is assessed to be a lucrative segment for investments and supply. Apart from usage, the production of these gloves in APAC is also expected to rise during the next few years.
Impact of COVID-19 on the Global Industrial Hand Gloves Market
The COVID-19 pandemic has affected all the countries across the world. The COVID-19 virus spreads when people come in close contact with a person having the respiratory symptoms of COVID-19. Also, handshaking is one of the most common ways of spreading respiratory diseases. Therefore, hand gloves play a very important role, especially during the COVID-19 pandemic. Industrial hand gloves are widely adopted by the automotive, chemical, food & beverage, and healthcare industries. Nitrile, disposable, natural rubber, and latex hand gloves are widely used in the healthcare sector to protect healthcare workers and patients. The use of hand gloves during the treatment of coronavirus-affected patients helps in preventing the spread of COVID-19 within hospitals. The pandemic has spread from China to all countries across the globe. The halt in the supply of raw materials from Chinese manufacturers has resulted in a supply-demand gap. However, the pause in the export of raw materials from China, as well as the increasing cases of COVID-19 across the world, have compelled the manufacturers of other countries to produce hand gloves. The COVID-19 pandemic has positively affected the hand gloves market.
The lockdowns imposed by the governments have significantly impacted various industries owing to the partial or complete shutdown of manufacturing activities. In some countries, a gradual lifting of the lockdowns has helped in resuming manufacturing operations, albeit with precautionary measures such as maintaining social distancing, hand sanitization, and the use of gloves. The increasing concerns over the incidences of hand injuries in the construction and the manufacturing sectors is also driving the demand for hand gloves. Strict government regulations in the U.S. and Europe regarding workplace safety are also responsible for the growth of the market. Besides, the changing consumer behavior and purchasing patterns to protect oneself from the pandemic are also driving the demand for hand gloves. After the pandemic subsides, the market is expected to grow significantly during the forecast period.
Takeaway
The industrial gloves market is expected to expand on the global front. A report presented by Market Research Future (MRFR) recently asserts that the global market is supposed to register 7.29% CAGR across the review period. Also, the size of the market will reach USD 9583.7 Mn by 2025.
Key Questions Addressed by the Report
- What was the historic market size (2018)?
- Which segmentation (material/product/application) is driving market growth?
- What will be the growth rate by 2025?
- Who are the key players in this market?
- What are the strategies adopted by key players?
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