Industrial Gloves Market estimate to reach $9.7 Billion by 2020 : Asia Pacific region expected to grow with fastest growth
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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The gloves are used in various industries such as machinery, oil & gas, metal fabrication, automotive, chemical, construction, plane manufacturing, food processing, office building cleaners, healthcare and others. The reusable industrial gloves are further classified based on protection type, application and glove type. The various type of protection offered by the gloves are general purpose/ mechanical protection, chemical/ liquid protection and product protection. The global disposable industrial gloves market is segmented into natural rubber (latex), nitrile, vinyl, neoprene, polyethylene and other gloves.
According to a new report 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.
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.
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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.
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.
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