Press release
Global Industrial Gloves Market Comprehensive Study: Forecasted Market Size And Growth Rate | Ansell Limited, Careplus Group Berhad, Globus Group, Hartalega Holdings BHD, Honeywell International Inc
Industrial Gloves Market Size
The Business Research Company offers in-depth market insights through Industrial Gloves Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The industrial gloves market size has grown rapidly in recent years. It will grow from $16.26 billion in 2023 to $18.19 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to rise in workplace safety regulations, increased occupational hazards, growth of manufacturing and construction sectors, increased demand in healthcare and medical applications, increased demand in chemical industry.
The industrial gloves market size is expected to see rapid growth in the next few years. It will grow to $28.05 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to increasing pandemic preparedness, increasing demand for sustainability, growth of e-commerce and logistics sectors, rising use of advanced materials, rising regulatory changes. Major trends in the forecast period include touchscreen compatibility, smart gloves, anti-microbial gloves, ergonomic designs, impact-resistant gloves, cut-resistant gloves.
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Market Segmentation:
The main products of industrial gloves are reusable gloves and disposable gloves. Reusable gloves refer to gloves that offer greater protection and are less likely to tear in use than disposables. The types of materials used include natural rubber gloves, nitrile gloves, vinyl gloves, neoprene gloves, polyethylene gloves, and other materials used by pharmaceuticals, automotive and transportation, food, oil and gas, mining, chemicals, and other end-users.
Major Driver - Rising Healthcare And Food Processing Industries Fueling Industrial Gloves Market Growth
The growing healthcare and food processing industries are expected to propel the growth of the industrial gloves market going forward. Healthcare industries refer to companies that offer clinical services and manufacture drugs and medical equipment, whereas food processing industries refer to companies involved in any method used to transform an agricultural product into a food product and sell it at local grocery stores or to modify one food item into another. Industrial gloves help the healthcare industry prevent the spread of infection or illness, and the food processing industry requires gloves for maintaining hygiene and decontamination in low and high-hazard areas. For instance, according to India Brand Equity Foundation, an Indian government export promotion agency, the Indian healthcare sector is expected to record a three-fold rise, growing at a CAGR of 22% between 2016-2022, and reaching USD 372 billion in 2022. Further, according to InvestIndia, an Indian investment promotion agency, India's food processing sector is one of the largest in the world and its output is expected to reach $535 bn by 2025-26. Therefore, the growing healthcare and food processing industries are driving the industrial gloves market.
Competitive Landscape:
Major companies operating in the industrial gloves market include Ansell Limited, Careplus Group Berhad, Globus Group, Hartalega Holdings BHD, Honeywell International Inc., Kossan Rubber Industries Bhd, Riverstone Holdings Limited, Semperit AG Holding, Supermax Corporation Berhad, Top Glove Corporation Bhd, 3M Corporation, Carolina Glove and Safety Company, Rubbere*x Corporation (M) Bhd, Ejendals AB, Lebon Protection, Kimberly-Clark Corporation, Renco Corporation, Mapa Professional, Towa Corporation, Delta Plus Group, Showa Group, MCR Safety, PIP Global, Bellingham Glove, Honeywell Safety Products, MDS Associates, Magid Glove & Safety, Wells Lamont Industrial
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Top Trend - Technological Advancements Reshaping The Industrial Gloves Market
Implementation of innovative technologies is the key trend gaining popularity in the industrial gloves market. Major companies operating in the industrial gloves market are introducing technological innovations such as surface technology for high-cut-risk areas and grip to sustain their position in the industrial gloves market. For instance, in September 2021, Unigloves, a UK-based glove developer company operating in the industrial gloves market, launched NITEX, an industrial glove range, and created a unique surface technology, including NitreGrip for grip in various conditions, and NitreGuard for high-performance in the straight blade cut test.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Gloves Market Characteristics
3. Industrial Gloves Market Trends And Strategies
4. Industrial Gloves Market - Macro Economic Scenario
5. Industrial Gloves Market Size And Growth
…..
27. Industrial Gloves Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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