Wilmington, Delaware, United States, March 13, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The market valuation measured for the global industrial gloves market in 2022 was about US$ 8.6 billion. However, the forecasted market advancement, subjected to various market forces, shall have a CAGR of 12.6%, which shall take the market valuation to US $ 20.8 billion by 2031. Many factors act as catalysts to govern the market development.
The demand for spectra fiber material has increased significantly in the contemporary business world. This material offers a great strength-to-weight ratio. Also, it delivers better cut resistance, thereby ensuring the safety of workers. Due to this, it plays the role of a crucial market driver.
Various governments of different countries have focused on the safety of workers. Many stringent laws and regulations have been made by governments and regulatory bodies, which have to be adhered to by organizations. Due to this, it becomes mandatory to offer safety gloves to workers. Consequently, this creates a market driver driving the subject market.
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Apart from this, the manufacturing sector has been growing significantly. This surges the demand for safety equipment for workers working on the shop floor. Consequently, this gives rise to accident-prevention measures like PPE products, creating a market driver for the subject market.
Key Findings from the Market Report
- The global industrial gloves market can be segmented into two to three categories: product type, material type, and end-user industry. In the case of disposable gloves, the material used is for a one-time purpose and can be thrown away after the first use. These gloves are relatively cheaper, which increases their popularity.
- In the context of rubber, it is the most widely used material; hence, the market segment has gained enough popularity. It often provides better shock resistance to workers, ensuring their safety.
- The pharmaceutical industry is the market segment that uses hand gloves widely. Doctors and surgeons often use gloves while treating patients to avoid any exchange of germs with the patient.
- The food and beverage industry is another crucial market segment that plays an active role in boosting the market, as it requires extensive use of gloves while delivering and preparing food.
Regional Profile
- Due to the extensive market growth in North America, the demand for safety precautions like hand gloves is increasing. As a result, industrial glove production and sales in the continent increased. Consequently, it is one of the leading contributors to the global industrial gloves market.
- Apart from this, due to accelerated industrialization, various Asian countries, like China and India, have been driving the subject market heavily. Consequently, Asia Pacific is a growing contributor to the market.
- Furthermore, Europe, South America, and the Middle East are some of the crucial market contributors.
Key Trends for the Industrial Gloves Market
- In January 2021, Ansell Limited acquired the life science business from Primus Gloves. Moreover, it also entered a supply chain partnership with the organization to bolster its business.
- J. J. Keller & Associates started a new industrial gloves line in September 2022. New gloves with different compositions augmented the existing industrial gloves market. It also helped the organization in developing an expanded product portfolio.
- In March 2023, Ansell Limited invested US $ 80 million to start a packing & irradiation operations line in India. This helped the organization in its growth.
Competitive Landscape
The overall competition in the global industrial gloves market is fierce, and many key players have been advancing significantly.
- Ansell Limited is one of such key players known for its wide range of industrial gloves. It also produces protective clothing and other Bioclean products.
- 3M Company manufactures a wide range of adhesives and sealants. It has diversified its product portfolio by entering the automotive market. Apart from this, it offers different building materials to its clients.
- Carolina Glove & Safety Company operates in the industrial and retail gloves markets. It also produces safety-wear protective apparel.
Key Players
- 3M Company
- Ansell Limited
- Carolina Glove & Safety Company
- Delta Plus Group
- Gloves Buyer Inc.
- Top Glove Corporation Bhd
- Showa Group Co.
- Uvex Group
- Honeywell International Inc.
- Kimberly-Clark Corporation
- Magid Glove and Safety Manufacturing Co. LLC
- Mechanix Wear Inc.
- W. W. Grainger Inc.
Market Segmentation
By Product Type
- Disposable Gloves
- Reusable Gloves
By Material Type
- Rubber
- Nitrile
- Vinyl
- Neoprene
- Polyethylene
- Spectra Fiber
- Others
By End-use Industry
- Pharmaceuticals
- Automotive & Transportation
- Food & Beverages
- Oil and Gas
- Mining
- Chemicals
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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