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Industrial Gloves Market Will Hit Dynamic Growth is projected to reach $20.2 billion by 2032 | with Recent Trends and Demand

12-08-2023 12:15 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Industrial Gloves Market Will Hit Dynamic Growth is projected

The global industrial gloves market has undergone significant growth, reaching a valuation of $8.7 billion in 2022 and is anticipated to achieve $20.2 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 8.9% from 2023 to 2032.

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Prime determinants of growth

The global industrial gloves market is driven by factors such as increasing awareness regarding personal safety & hygiene, rise in the variety of threats to the personnel, rapid developments in the food processing industry, and rise in demand for high dexterity gloves. However, the availability of local & inexpensive gloves and lack of awareness regarding the usage of industrial gloves restrain the market growth. On the other hand, the implementation of innovative technologies is expected to offer better growth prospects for the growth of the industrial gloves market in the future

Covid-19 Scenario

The COVID-19 pandemic had an unprecedented impact on the global market for industrial gloves. The need for personal protective equipment (PPE) to prevent the spread of the virus led to a massive surge in demand for gloves, primarily in the healthcare sector.

The demand for gloves also increased among the general public as people seek to protect themselves from the virus. This surge in demand had led to shortages in many parts of the world, creating significant challenges for healthcare systems and other essential industries.

The pandemic led to significant price increases for gloves, with some suppliers charging several times more than the pre-pandemic prices. This put a strain on healthcare systems, as well as on individuals and businesses that needed to purchase gloves for their employees.

The surge in demand for gloves had spurred innovation in the market, with manufacturers developing new materials and technologies to improve the effectiveness of gloves and increase their durability.

The increased innovation in the market is expected to continue in the coming years, as demand for gloves is projected to remain high even after the pandemic subsides. Despite the significant demand for gloves, the increased use of industrial gloves has raised concerns about their environmental impact

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The disposable gloves segment to maintain its leadership status throughout the forecast period

Based on usability, the disposable gloves segment held the highest market share in 2022, accounting for more than three-fifths of the global industrial gloves market revenue, and is estimated to maintain its leadership status throughout the forecast period, owing to factors such as increase in demand from the healthcare sector due to the ongoing COVID-19 pandemic, stringent safety regulations, growth in awareness about personal hygiene, increase in use in the automotive industry, and technological advancements. However, the reusable gloves segment is expected to witness the fastest CAGR of 9.2% from 2023 to 2032, owing to rising demand for chemical-resistant gloves in industries such as chemical manufacturing, oil and gas, and pharmaceuticals. In addition, reusable gloves are increasingly being used in healthcare settings for a variety of applications, such as handling medications and performing medical procedures.

North America to maintain its dominance by 2032

Based on region, North America held the highest market share in terms of revenue in 2022, accounting for around two-fifths of the global industrial gloves market revenue and is likely to dominate the market during the forecast period. The North American industrial gloves market is a significant market that is driven by the increasing demand for personal protective equipment (PPE) and the growing awareness of the importance of workplace safety. Industrial gloves are essential in various industries, including healthcare, food processing, and manufacturing, to protect workers from hazardous materials, chemicals, and infectious agents. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.8% from 2023 to 2032, driven by several factors such as increasing awareness about personal protective equipment (PPE), rising demand from various end-use industries, and growing concerns over workplace safety.

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Key Benefits for Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the industrial gloves market analysis from 2022 to 2032 to identify the prevailing industrial gloves market opportunities.

The market research is offered along with information related to key drivers, restraints, and opportunities.

Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.

In-depth analysis of the industrial gloves market segmentation assists to determine the prevailing market opportunities.

Major countries in each region are mapped according to their revenue contribution to the global market.

Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.

The report includes the analysis of the regional as well as global industrial gloves market trends, key players, market segments, application areas, and market growth strategies.

Leading Market Players: -

► Top Glove Corporation Berhad
► Hartalega Holdings
► Kossan Rubber Industries Bhd
► Riverstone Holdings Limited
► Careplus Group Berhad
► Supermax Corp.
► Ansell Healthcare
► SHOWA, Inc.
► Honeywell International Inc.
► Semperit AG Holding

The report provides a detailed analysis of these key players in the global industrial gloves market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

Similar Report:

Cleanroom Disposable Gloves Market: https://www.alliedmarketresearch.com/cleanroom-disposable-gloves-market

PPE Gloves Market:

https://www.alliedmarketresearch.com/north-america-ppe-gloves-market

Rubber Gloves Market: https://www.alliedmarketresearch.com/rubber-gloves-market-A11847

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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

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