Rubber Gloves Market Set to Witness Explosive Growth by 2030

Description
The global rubber gloves market was valued at USD 33,989.9 million in 2020 and is anticipated to generate USD 83,909.1 million by 2027. The market is projected to experience growth at a CAGR of 12.2% from 2021 to 2027. A rubber glove is made out of synthetic rubber, natural rubber, and rubber coating over a textile glove. Its primary purpose is to protect the user from hazardous chemicals while performing a task. It is also used in the industry and medical sectors as industry gloves and medical gloves. It protects hands from dangerous hazards such as iron nails, heating equipment, and corrosive chemicals. In the medical sector, it is used by caregivers and health professionals to prevent contact with various germs. Gloves can be classified into two types based on usability: disposable and reusable. Gloves are used in the food sector to prevent the food from contaminating various germs.

The rubber gloves sector is one of the most unorganized sectors where many local companies usually do not follow standards. These local companies sell non-standard gloves to small-scale industries. These small-scale industries buy these gloves cheaply without considering their safety standards. The surge in awareness of workers' safety & security, increase in occupational safety concerns by the government, and rapid industrialization in many regions drive the growth of the rubber gloves market. An increase in health consciousness among the people due to the outbreak of COVID-19 has led to an increase in the usage of gloves in most fields. The increase in demand, technological advancements in this field, and supportive government policies provide a great opportunity for worldwide growth.

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COVID-19 Impact on the Global Rubber Gloves Market
The coronavirus (COVID-19) pandemic has declined industrial gloves sales. Due to the COVID-19 pandemic, various industrial manufacturing companies across the globe have halted their production activities due to disrupted supply of components and equipment amid lockdown, which hampered the demand for industrial gloves. Furthermore, the rubber glove manufacturers have halted their operation due to a disrupted supply of raw materials for production due to lockdown. The pandemic has driven the growth of rubber gloves used in the medical field and for household purposes. According to the Malaysian Rubber Board, this increase in demand led to a surge in the price of raw materials.

The government of various countries also heavily invested in producing disposable medical gloves to control the spreading of the pandemic virus. During the COVID-19 outbreak, various companies and governments have issued various advertisements and policies to make people conscious of the health and safety of various gloves. The demand for disposable gloves in medical and household will increase in the future due to an increase in the consciousness regarding health among the consumers. Industrial gloves have shown a decline in demand in 2020, but the demand for industrial gloves is expected to gain traction eventually as the industries start to operate normally.

Global Rubber Gloves Market Dynamics
Drivers: Rapid demand from chemical, oil & gas, and petrochemical industry
One of the major factors responsible for the growth of the rubber gloves market is oil & gas. Oil & gas is the major lifeline of people, and most industries such as automotive, aeronautical, petrochemical, chemical, and others are dependent on them. Exploring and drilling activities of oil & gas also requires the safety of hands because fire & explosions are the third most common cause of fatal injuries. Historically, hands and finger injuries make up nearly 50% of all incidents. At times, the number is closer to 80% of all recordable incidents.

However, proper hand and body protection are extremely important to minimize injuries and fatalities. Due to excellent anti-impact, oil and water resistance, and outstanding grip, major nitrile rubber gloves are used in oil & gas activities. In addition, besides upstream, rubber gloves also have wide applications in midstream and downstream, which drives the market's growth. Moreover, the chemical & petrochemical industries are also the major consumers of rubber gloves. There are various hazardous activities in chemical & petrochemical industries that rubber gloves can minimize. However, the rise in availability of petrochemicals products and the increase in chemical use positively impact the rubber gloves market. Hence, the chemical, oil & gas, and petrochemical industry drive the growth of the rubber gloves market.

Restraints: Latex sensitivity
There are various types of rubber gloves available in the market. One popular rubber glove, named latex gloves, is heavily used for several purposes, but sometimes it develops latex sensitivity or latex allergy such as skin rashes; hives; nasal, eye, or sinus symptoms; asthma; and (rarely) shock. According to the U.S. Department of labor, it is estimated that 8-12% of healthcare workers are latex sensitive with reactions ranging from allergic contact sensitivity and contact dermatitis to immediate possibly life-threatening sensitivity. However, this latex sensitivity limits market growth.

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Opportunities: Rise in awareness toward hygiene Practices
There is an increase in awareness toward hygiene and body care products such as rubber gloves, masks, PPE, and others after the COVID-19 pandemic, which boosts the sales of rubber gloves. Top Gloves Corporation, a major rubber gloves manufacturer, announced a 56.2% increase in revenue in FY2020. Moreover, according to its estimations, the demand for gloves is projected to grow by 25% by 2021 and 15% after that. Hence, COVID-19 creates new opportunities for the rubber gloves market. In addition, the rise in awareness toward hygiene practices led to an increase in the use of rubber gloves in industries associated with food & beverages, bakeries, restaurants, and packaged food, toward making safe products free from direct touch and preventing infection caused to mishandling of food and spoilage.

These days, street food holders, salons, and spa centers are also alert and using rubber gloves for their safety, which led to an increase in demand for rubber gloves. Moreover, the government of various nations collaborated with rubber manufacturers to maintain proper supply in the health care centers and prevent further transmission of viruses.

Scope of the Report
The study categorizes the rubber gloves market based on type, product, material, and end-users at the regional and global levels.

By Type Outlook (Volume, Thousand Units, Revenue, USD Million, 2017-2027)
Powdered
Powder Free
By Product Outlook (Volume, Thousand Units, Revenue, USD Million, 2017-2027)
Disposable
Reusable
By Material Outlook (Volume, Thousand Units, Revenue, USD Million, 2017-2027)
Latex
Nitrile
Vinyl
Others
By End-Users Outlook (Volume, Thousand Units, Revenue, USD Million, 2017-2027)
Healthcare
Food and Beverage
Automotive
Machinery
Others

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By Region Outlook (Volume, Thousand Units, Revenue, USD Million, 2017-2027)
North America (US, Canada, Mexico)
South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The powder-free segment is projected to account for the largest market share by type
Based on type, the global rubber gloves market is classified into powdered and powder-free rubber gloves. In 2020, the powder-free segment accounted for the largest market share of 70.3% in the global rubber gloves market. Powder-free rubber gloves do not contain corn-starch powder, and it undergoes a process known as chlorination. These gloves are super strong and durable for tougher applications, and they are more versatile with food, chemical, oil, and water resistance. A rise in demand for powder-free rubber gloves in hospitals & medical services, food & beverages, catering & processing, lab & scientific, hair & beauty, and other applications are expected to drive the growth of the rubber gloves market during the forecast period. Powdered free gloves are super-strong, offer more versatility, and are used in oil & gas and chemical industries, which further surges the demand for powder-free gloves from 2021 to 2027. In addition, powder-free gloves are affordable, comfortable, offers a good grip, and help maintain skin health. However, these mentioned features act as the main drivers in the growth of the rubber gloves market. Moreover, the COVID-19 pandemic in the world has increased the demand for rubber gloves, especially in the healthcare industry, to reduce further transmission of the virus and provide safety for the health workers. However, COVID-19 worked as the opportunity to grow the powder-free rubber gloves market.

Asia Pacific accounts for the highest CAGR during the forecast period

Based on the regions, the global rubber gloves market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Globally, Asia Pacific is estimated to hold the highest CAGR of 14.2% in the global rubber gloves market during the forecast period. Asia-Pacific is the largest market for pharmaceuticals and healthcare. India and China are the largest manufacturers and exporters of medicine, chemicals, and pharmaceuticals around the globe. Malaysia accounted for around 65.0% share of the rubber gloves market worldwide. An increase in population and growth rate in the domestic chemical and pharmaceutical industries increased the demand for rubber gloves in the region.

Asia-Pacific is known for its increased population and is one of the largest hubs for pharmaceutical industries. These factors increase the demand for rubber gloves in the Asia-Pacific region. In addition, Asia-Pacific is the largest exporter of rubber gloves worldwide and accounts for more than 60.0% share across the globe. The rise in the industrialization and technological advancement in pharmaceutical R&Ds in Asia-Pacific is expected to drive the market's growth during the analyzed time frame. Moreover, rise in demand for food & beverages, cosmetics & personal care products, catering, & processing industries, lab & scientific industries, hair & beauty industries increases the demand for rubber gloves to protect hands from such chemical-based products, which in turn is anticipated to fuel the growth of the rubber gloves market in the coming years.

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Key Market Players
The rubber gloves market is highly consolidated, with only a few players holding a significant share of the market, including Hartalega Holdings Berhad Corporation, Ansell Ltd., Kimberly Clark Company, Top Glove Corporation Bhd, Supermax Corporation Berhad, Kossan Rubber Industries Bhd, Schield Scientific, Atlantic Safety Products Inc., Unigloves (UK) Limited, and Mapa Professional. These firms have used various techniques to increase their market share and maintain their leadership. Ansell Ltd., Top gloves Corporation Bhd, Supermax Corporation Berhad, and Mapa Professional have user acquisition and product introduction strategies. Detailed research of the major companies in the rubber gloves industry is used to assess top winning techniques. Comprehensive research of current innovations and growth curves of various firms aids in understanding their growth strategy and their prospective market impact.

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