New York, United States, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The Global Hand Protection Equipment Market Size to grow from USD 30.0 billion in 2021 to USD 60.47 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8.1% during the forecast period. The demand for Hand protection equipment is increasing the product's effectiveness in preventing the spread of COVID-19 in various end-use industries, and the growing concern about hand cleanliness is both credited with driving up demand in the market. Companies have created safety regulations and given workers' safety priority to prevent workplace dangers which aid in adding to the requirement for hand protection equipment in the market.
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The Disposable gloves segment to account for the largest market size during the forecast period.
Based on the Product, the global Hand protection equipment Market is categorized into Disposable, Durable, and smart. The Disposable gloves segment to account for the largest market size during the forecast period. The sudden increase of COVID-19 cases has increased the demand for disposable gloves and reduced supplies. The need for Disposable gloves is driven by the rising incidence of illnesses linked to hospital settings, such as COVID-19 and the swine flu, as well as the rising demand for disease control. Disposable gloves are expected to provide a price advantage over durable gloves in industrial operations with a limited duration. The COVID-19 outbreak has nearly tripled the need for gloves in the market.
The Healthcare segment to hold a higher CAGR during the forecast period
Based on the End-Use, the Hand protection equipment Market is categorized into manufacturing, transportation, mining, chemicals, food, pharmaceuticals, healthcare, oil & gas, construction and others. The Healthcare segment to hold a higher CAGR during the forecast period. As workers in the Healthcare business come into touch with dangerous chemicals, solvents, and medications on the job, it is no surprise that this end-use category is the largest. For the protection of the employee's health, this segment completely depends on the market, which leads to an increase in product demand in this industry.
Browse key industry insights spread across 200 pages with 147 market data tables and figures & charts from the report “Global Hand protection equipment Market Size, Share, and COVID-19 Impact Analysis By Product (Disposable and Durable), By Raw (Natural Rubber/Latex, Nitrile Gloves, Neoprene, Vinyl Gloves and Others), By End-use (Construction, Manufacturing, Oil & Gas, Chemicals, Food, Pharmaceuticals, Healthcare, Transportation, Mining and Others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2021 – 2030.” in detail along with the table of contents.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The Natural Rubber Gloves segment is to hold a higher CAGR during the forecast period.
Based on the Raw Material, the Hand protection equipment Market is categorized into Nitrile Gloves, Neoprene, leather gloves, Natural Rubber/Latexes and Others. The Natural Rubber Gloves segment is to hold a higher CAGR during the forecast period. There is an increase in sales of Natural Rubber because Gloves are adaptable and easy to wear and are perfect for handling delicate applications, like medical procedures and operations; the demand for Natural Rubber Gloves goods was relatively high in the market.
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North America is estimated to account for the highest market share in 2021.
The Global Hand protection equipment Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. North America is expected to be the largest market for Hand protection equipment owing to the increasing consumer demand for Hand protection equipment coupled with the rising trend of Hand protection equipment for insurance-proof purposes. Most countries have a high accident rate and unsafe road conditions, which increases the demand for Hand protection equipment s. Furthermore, most of the countries in the North American region have strict laws for the use of Hand protection equipment s, adding impetus to the growth of the market over the forecast period. Asia-Pacific to hold a higher CAGR during the forecast period.
RECENT DEVELOPMENT
December 2021: The Flextril Nitrile chemical protection gloves from Honeywell won the World of Safety and Health Asia Award and the Occupational Health & Safety new product of the year award.
May 2021, saw the addition of two brand-new, cutting-edge dipping lines by Ansell, a manufacturer of chemical protective gloves, in Malaysia. This expansion will help the company produce more AlphaTec® multi-hazard chemical gloves and related innovation platforms.
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Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Hand protection equipment Market include Top Glove Corporation Bhd, Holdings Hartalega Berhad, Superior Gloves, Adenna LLC, MCR Safety, Atlantic Safety Products, Inc., Ammex Corp., Corp. Kimberly-Clark, Halyard Health, Inc., and Sempermed USA, Inc.
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