Portland, OR, April 27, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global industrial gloves industry generated $6.9 billion in 2019, and is estimated to reach $17.0 billion by 2027, registering a CAGR of 12.5% from 2020 to 2027. The report offers an extensive analysis of key market dynamics, driving factors & opportunities, key segments, value chain, business performance, and competitive landscape.
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Stringent regulations, increase in demand for comfort & superior performance, and food processing & healthcare industries drive the growth of the global industrial gloves market. However, availability of local and affordable products and lack of awareness related to usage of industrial gloves restrain the market growth. On the other hand, implementation of innovative technologies creates new opportunities in the market.
Based on usability, the disposable segment accounted for the highest share in 2019, contributing to more than three-fifths of the total revenue, and is projected to maintain its dominant position throughout the forecast period. Moreover, this segment would witness the largest CAGR of 13.0% from 2020 to 2027. The report also analyzes the reusable segment.
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Based on end users of disposable industrial gloves, the semiconductors segment accounted for the largest share in 2019, holding nearly one-fourth of the total share, and is estimated to maintain the highest share during the forecast period. However, the food industry segment is estimated to portray the highest CAGR of 15.9% during the forecast period.
Based on glove type (reusable), the supported knitted gloves segment held the highest share in the global market in 2019, contributing to nearly half of the total market share, and is expected to contribute its highest share during the forecast period. However, the knitted gloves segment is expected to witness the highest CAGR of 12.8% from 2020 to 2027.
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Geographically, Asia-Pacific is expected to grow at the highest CAGR of 13.9% during the forecast period. However, North America held the largest share, holding nearly two-fifths of the total market share in 2019, and will maintain its dominant contribution during the forecast period.
Key market players analyzed in the global industrial gloves market include Top Glove Corporation Berhad, Kossan Rubber Industries Bhd, Hartalega Holdings, Careplus Group Berhad, Riverstone Holdings Limited, Ansell Healthcare, Supermax Corp., Honeywell International Inc., SHOWA, Inc., and Semperit AG Holding.
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Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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