NEWARK, Del, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The global protective glove market size is poised for significant growth, reaching US$ 21.2 billion in 2024. The sales of protective gloves are expected to grow at a CAGR of 6.7% from 2024 to 2034. The demand for protective gloves is anticipated to reach a valuation of US$ 40.6 billion by 2034.
The primary catalysts advancing the growth of the disposable glove market include the expanding healthcare industry, increased accidents and injuries, a growing awareness of job hazards, and occupational safety and health laws.
Forces Steering Growth in the Protective Glove Market
- The adoption of protective gloves has increased across several industries, including manufacturing, chemical processing, construction, and healthcare, due to growing awareness of the significance of workplace safety and employee well-being.
- Employers are required by strict government and industry-imposed workplace safety standards and regulations to supply the necessary personal protective equipment (PPE), including gloves, to shield employees from potential risks. The demand for protective gloves is fostered by adherence to such regulations.
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Growth Avenues in the Protective Glove Industry
- For the safety of medical personnel and to prevent the spread of infections, protective gloves are necessary in the healthcare industry, which includes clinics, hospitals, and labs. Manufacturers of protective gloves stand to benefit greatly from the continued need for healthcare services.
- Protective gloves are necessary to protect employees from workplace hazards in various industries, including manufacturing, construction, automotive, and chemical processing. The demand for specialized, high-quality gloves is rising as industrial activities continue to expand.
Inhibitors to Expansion of the Protective Glove Market
- The cost of protective gloves varies, particularly if they are made for a specific purpose or have sophisticated functions, which constrains the disposable glove market. Particularly in cost-conscious businesses, price sensitivity among consumers restricts the adoption of protective gloves.
- Economic downturns and recessions, which result in decreased building and industrial activity, are predicted to inhibit the demand for protective gloves. In difficult economic times, protective glove manufacturers reduce discretionary spending, which includes purchasing gloves and other safety gear.
Regional Outlook
The market growth in Asia Pacific is stimulated by worker safety awareness and the adoption of protective gloves in industries like food processing and healthcare. Sustainable growth is promoted by changes in the competitive environment of the Asia Pacific protective glove market brought about by technological developments and the introduction of novel materials.
Demand for protective gloves is spurred by North America's growing focus on worker safety and hygiene requirements, especially in industries like food processing and healthcare. The competitive landscape is governed by innovation and product differentiation due to the prevalence of strict rules and standards and the growing awareness of the relevance of personal protective equipment (PPE).
Europe continues to witness growth in the safety glove market diversity and the formation of specialty segments due to the emergence of specialist glove variations catering to niche industries like aerospace and automotive manufacturing.
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“Growing workplace safety awareness is expected to propel significant expansion in the protective glove market. The increasing focus on employee well-being is reflected in the rising demand across various industries, which fosters expansion in the safety glove market and drives technological innovation,” opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI)
Key Takeaways
- The nitrile segment in the material category is expected to accelerate at a CAGR of 6.6% between 2024 and 2034.
- In the type category, the reusable segment is predicted to thrive at a CAGR of 6.5% through 2034.
- The United States safety glove market is anticipated to evolve at a CAGR of 6.9% through 2034.
- The United Kingdom protective glove market is envisioned to develop at a CAGR of 7.7% from 2024 to 2034.
- China’s safety glove market is expected to surge at a CAGR of 7.2% through 2034.
- The South Korean protective glove market is anticipated to grow at a CAGR of 8.0% between 2024 and 2034.
- The Japan disposable glove market is likely to exhibit a CAGR of 7.4% through 2034.
Competitive Landscape
Protective glove market players are planning ahead to boost their sales in profitable regions and are implementing a range of penetration techniques. Some strategies in the safety glove market include product launches, alliances, acquisitions, partnerships, and the attraction of local and international distribution networks.
Top Players in the Protective Glove Market
- Kossan Rubber Industries Bhd
- Top Glove Corporation Berhad
- Ansell group
- TOWA CORPORATION
- Hartalega Holdings Berhad
Notable Developments
- GIIB Holdings Bhd announced in May 2022 that its first glove production facility had opened. The company disclosed that the new manufacturing facility, established by its subsidiary GIIB Healthcare Products Sdn Bhd with a 51% ownership stake, features five double former glove-dipping production lines capable of producing 1.05 billion units annually.
- Kimberly-Clark Professional disclosed that Kimtech Opal Nitrile Gloves were introduced in January 2022. According to the company, the newly introduced industrial gloves were designed for strong tactile sensitivity and enhanced comfort during extended wear. The gloves are marketed to have a unique skin-protection feature called Low Derma Technology.
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Key Segments
By Material:
- Nitrile
- Latex
- Neoprene
- Leather
- Vinyl
- Others
By Type:
- Reusable
- Disposable
By Application:
- Chemical
- Mechanical
- Biological
- Thermal
- Others
By End-use Industry:
- Healthcare
- Manufacturing
- Food & Beverage
- Oil & Gas
- Construction
- Transportation
- Others
By Region:
- North America
- Latin America
- Europe
- Middle East and Africa
- East Asia
- South Asia
- Oceania
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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