Press release
Industrial Gloves Market Projected To Experience Major Revenue Boost During The Period Between 2027
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 $14.8 billion by 2027, registering a CAGR of 10.4% from 2020 to 2027. The report offers a comprehensive analysis of changing market dynamics, key segments, Porter’s Five Forces, market size, business performance, , and competitive landscape.
Strict rules & regulations imposed by governments, surge in demand for comfort & better performance, and growth of the food processing & healthcare sectors propel the global industrial gloves market growth. However, presence of local & cost-effective products and lack of awareness regarding industrial gloves utilization hinder the market growth. On the other hand, advent of innovative technologies presents new pathways in the coming years.
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Covid-19 Scenario:
• Major health organizations such as WHO, FDA, and CDC have released safety protocols regarding usage of gloves in various industries during the Covid-19 crisis.
• The global demand of disposable gloves for medical applications has experienced a sharp rise during the pandemic, especially from Europe and the U.S.
• Highest safety precautions and strict measures regarding utilization of gloves in the food and beverage industry have been taken during food preparation, service, and delivery as lockdown eases off and permissions to begin operations have been given.
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Based on usability, the disposable segment held the highest share in 2019, accounting for more than three-fifths of the total market share, and is estimated to continue its dominance during the forecast period. Moreover, this segment is estimated to portray the highest CAGR of 10.9% from 2020 to 2027. The report also analyzes the reusable segment.
Based on end users of disposable industrial gloves, the semiconductors segment contributed to the highest share in 2019, accounting for nearly one-fourth of the total share, and is expected to maintain the highest contribution during the forecast period. However, the food industry segment is expected to portray the highest CAGR of 13.8% during the forecast period.
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Geographically, North America held the largest market share, contributing to nearly two-fifths of the total market share in 2019, and will maintain its lead position during the forecast period. However, Asia-Pacific is estimated to witness at the largest CAGR of 11.8% from 2020 to 2027.
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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.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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