The Safety Gloves Market is Expected to Reach a Valuation of US$ 19 Bn by 2030

The COVID-19 outbreak has redefined the availability of PPE for the healthcare industry value chain in various ways. Some of these changes are short-term, and while some are transformative, the impact it has levied has been on a global scale. As a matter of fact, export controls on masks, goggles, gloves, and other PPE brought about by several Asian countries, predominantly China, have witnessed a relaxation, but demand is overriding capacities.

Safety gloves form an integral part of the medical and healthcare segment, and stand irreplaceable. Latex and nitrile gloves are commonly used when dealing with high-risk situations involving blood, bodily fluids, or patients with infectious diseases. Both, latex and vinyl gloves can be used for low-risk, general procedures such as a non-invasive physical exams; explaining the sudden surge in the sales for the same.

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On the back of these factors, the safety gloves market is expected to reach a valuation of US$ 19 Bn by 2030. According to PMR's report, the safety gloves market is estimated to register a healthy CAGR of more than 6% during the forecast period of 2020-2030.

Key Takeaways from Global Safety Gloves Market Study

According to the report, the global safety gloves market represents a moderately fragmented competitive landscape, where a majority of key players maintain their strategic focus on the pricing strategy, product strategy, digital advertising of products, and remodelling the supply chain network.
A majority of the safety gloves market is dominated by a few major players such as 3M, Ansell Ltd., Avon Rubber plc, Cofra Srl, Adhesive & Equipment, Inc, Amada Miyachi America, Mallcom, Lakeland Industries, Delta Plus, Superior Glove Works Limited, Globus Group, Midas Safety, and Hartalega Holdings Berhad.
PMR identified North America as the largest market for safety gloves in 2019, followed by Europe, attributable to the fact that, customers need high quality products with satisfactory services. Globally, food safety is finsing momentum, and people are gaining consciousness regarding the implementation of good manufacturing practices and overall hygiene across the food service industry. Thus, increasing demand for safety gloves in the food industry is set to result in higher sales across the world.
By product type, durable safety gloves account for a larger share in the global safety gloves market as compared to disposable safety gloves.
"In today's competitive industry, product innovation and variations within a segment act as prime factors in grabbing the attention of customers. Most customers are in continuous surge of new, creative, different, and innovative products. Moreover, players are engaged in bridging the supply-demand gap to cater to the needs of all customers," says a PMR analyst.

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COVID-19 Effect on Market

No sooner did the COVID-19 pandemic hit, a majority of manufacturers in the safety gloves market increased their production capacities to bridge the supply-demand gap. Complete lockdowns, total shutdown of all industries, and havoc in the industrial space all resulted in a dip in initial production during the pandemic. However, manufacturers increased production, and with support across the supply chain, global safety gloves demand has been catered to successfully.

Demand for surgical safety gloves and sterile safety gloves, both falling within the disposable safety gloves segment, has experienced a steep hike since the 1st quarter of 2020, and is expected to drive sales in the overall safety gloves market till 1st quarter of 2021.

Safety Gloves Market: Competition

PMR's report underlines groundbreaking insights into the competitive scenario of the safety gloves market along with highlights of differential strategies used by manufacturers. Some of the key players identified across the value chain of the global safety gloves market include 3M, Ansell Ltd., Avon Rubber plc, Cofra Srl, Adhesive & Equipment, Inc, Amada Miyachi America, Mallcom, Lakeland Industries, Delta Plus, Superior Glove Works Limited, Globus Group, Midas Safety, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd., MSA Company, Rhysley, Ltd., Alpha Packaging, Inc., Sutton-Garten Company, Denios, Inc., International Plastics, Cementex Products, Inc., ToughBuilt Industries, Inc., Ver Sales, Inc., The Lincoln Electric Company, and DuPont de Nemours, Inc., among others.

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Know More about Safety Gloves Market Report Inclusions

Persistence Market Research published a new market report on the safety gloves market covering global industry analysis of 2015-2019 and forecasts for 2020-2030. This report on the safety gloves market provides compelling insights on the basis of product type, raw material, and end use across all regions. The report on the global safety gloves market also includes forecast factors and vital macroeconomic factors that are anticipated to boost market growth. The report also addresses restraints that are projected to hinder the growth of the safety gloves market, along with the latest trends and potential opportunities in the market.

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This release was published on openPR.