Industrial Gloves Market to grow $9.7 Billion by 2020 : Natural rubber gloves segment continue to lead the global market during forecast period
Based on the type of protection offered in the global industrial gloves market, the industrial gloves are classified into General purpose/mechanical protection, chemical/liquid protection gloves and product protection gloves. Based on glove type, the reusable gloves market is segmented into dipped gloves, knitted gloves, supported knitted gloves and others.
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New report published by Allied Market Research, titled, "Industrial Gloves Market - Global Opportunity Analysis and Industry Forecast, 2014 - 2020", global sales of industrial gloves would reach $9.7 billion by 2020, registering a CAGR of 12.8% during 2015 2020. The disposable gloves segment accounted for over half of the market revenue in 2014 and would retain its lead throughout the analysis period. Asia-Pacific market would exhibit the highest CAGR during the forecast period, both in terms of volume and revenue.
The global industrial gloves market is transitioning to novel glove materials such as nitrile, vinyl, neoprene and polyethylene. The shift can be attributed to the allergic reactions caused by latex gloves and superior resistivity and protection properties offered by novel materials.
Reusable industrial gloves are deployed as personal protective equipment (PPE) in various industries including automotive, food, chemical and healthcare, to ensure safety and sanity at work places. The onslaught of threats to the personnel and consequent work safety awareness, rapidly growing food processing industry and rising demand for high dexterity gloves are the fore factors fueling the market growth. Recent introduction of advanced manufacturing techniques such as use of fillers, polyurethane coatings, thermal gravimetric analysis have given rise to cost-effective reusable gloves, thereby supplementing the market growth.
Disposable industrial gloves are mainly used to prevent cross-contamination between industrial personnel and products. Disposable industrial gloves are preferred across various industries including semiconductors, pharmaceuticals, food, and healthcare among others. Eco-friendliness, affordable cost, high degree of flexibility and sterility of disposable industrial gloves would supplement the market growth. In addition, the outbreak of epidemics such as swine flu, ebola, among others would further boost the market growth. Conversely, unstable raw material prices and the use of robotics in manufacturing would limit the market growth of industrial gloves.
Key Findings of Industrial Gloves Market
• Supported knitted gloves dominated the reusable industrial gloves market, accounting for about 50% market revenue, in 2014
• Food processing end-use segment is identified as the most lucrative segments in the global disposable industrial gloves market
• General purpose/Mechanical protection gloves segment was the highest revenue generating segment in 2014
• Natural rubber gloves segment would continue to lead the disposable industrial gloves market
• Polyethylene gloves segment is projected to exhibit the highest CAGR of 14.9%, in terms of volume
• North America and Europe collectively accounted for around three-fourth of the industrial gloves market revenue, in 2014
North America was the highest revenue generating region in 2014, owing to stringent work safety regulations associated with industrial manufacturing. However, Asia Pacific region would exhibit the fastest growth in the reusable industrial gloves market, over the forecast period, owing to the shift of manufacturing base to emerging economies of the region.
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Key companies profiled in the report are Honeywell International Inc., SHOWA, Inc, Ansell Healthcare, Superior Glove, Shamrock Manufacturing Company Inc., Towa Corporation, Hartalega Holdings Berhad, Rubberex, Top Glove Corporation Berhad and Semperit AG Holding.
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
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