Industrial Gloves Market: Global Industry Analysis 2017; Disposable Gloves to Remain Dominant Product Segment

Transparency Market Research states that the global industrial gloves market will expand at a healthy 9.6% CAGR over the period between 2016 and 2024. At this pace, the market will rise from a valuation of US$5.13 bn in 2015 to US$11.01 bn by 2024.

Disposable Gloves Clearly Rule Consumer Choices

On the basis of the reusability of industrial gloves, the global industrial gloves market produces two key varieties of products: disposable and re-usable gloves. Usage of reusable gloves adds the extra task to the operational schedule of a workplace - their proper decontamination and safe storage between uses. In industries where gloves need to be put on and taken off frequently, such as food, chemicals, healthcare and pharmaceuticals, the use of disposable gloves is preferred.

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It is chiefly this factor that enables the segment of disposable gloves acquire the leading position in the market. In 2015, disposable gloves accounted for a share of over 85% in the overall industrial gloves market. The segment is also expected to expand at the fastest CAGR of 9.7% from 2016 through 2024, rising to a valuation of US$9.68 bn by 2024.

Flourishing End-use Industries and Rising Awareness Regarding Worker Safety to Bode Well for Industrial Gloves Market

Industries such as pharmaceuticals, food, chemicals, and healthcare are the most prominent consumers of a variety of industrial gloves. The pharmaceutical, chemicals, and food industries accounted for nearly two-thirds of the global industrial gloves market’s overall revenues in 2015. Naturally, growth in these industries is a key requisite for the overall development of the industrial gloves market. In the past few years, these industries have seen flourishing growth across all notable regional markets such as North America, Europe, Asia Pacific, and Latin America, boding extremely well for the industrial gloves market.

The usage of industrial gloves across several operations in these industries is ruled primarily by worker safety mandates instigated by government and private bodies. While employee safety rules have traditionally been much stricter and were adhered to more strictly in developed regions than in cost-conscious developing regions, the scenario is rapidly changing.

Transparency Market Research analysts state that the market for industrial gloves will expand at the fastest CAGR of nearly 12% in Asia Pacific over the forecasting horizon. The factors driving the increased usage of industrial gloves in the region will chiefly be the increasingly stringent worker safety guidelines, rising awareness among employees about the health benefits of high-quality gloves, and flourishing growth of key end use industries

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