Global Industrial Gloves Market Worth $ 9 Billion by 2024, Says Variant Market Research

Global Industrial Gloves Market Report, published by Variant Market Research, forecast that the global market is forecasted to reach $9 billion by 2024 from $4 billion in 2016; growing at a CAGR of 8.6% from 2016 to 2024. The industrial gloves market is majorly driven by the following driving factors such as rapid industrialization, and growing awareness for safety & hygiene at workplaces. However, availability of substandard products and fluctuations in raw material prices might hinder the growth of the market. Furthermore, rising R&D, initiatives taken by government organizations would provide growth opportunities for the market.
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Products type, application, material type and geography are the key segments of the global industrial gloves market. Product type segment has been segmented into re-usable gloves and disposable gloves. A disposable glove was the leading sub segment with highest market share in 2016 and it will continue to dominate the product type segment over the forecast period 2016-2024. Additionally, Application segment includes healthcare, food, chemicals, pharmaceuticals, and manufacturing. Pharmaceuticals and chemicals were dominated the applications segment, with market share of 26.3% and 25.1% respectively in 2016.
The global industrial gloves market by geography is bifurcated into North America, Europe, Asia-Pacific and RoW. North America held the highest market share of 37.4% in 2016, driven by stringent regulations regarding worker safety and rise in the number of accidents. In terms of growth rate, Asia-Pacific region is anticipated to grow at the fastest CAGR of 9.6% over the forecast period, owning to expansion of railways across the emerging countries and rapid industrialization.
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Various strategies have been adopted by the market players to boost their geographical presence and product portfolio. For instance, Southern Glove, Inc., introduced Arctic Gripper thermal glove, a new protective glove in January 2016. These gloves are designed to deliver comfort, warmth and dexterity under icy or cold working conditions. The major players in the industrial gloves market include 3M Corporation, Towa Corporation, Honeywell Safety Products, Showa Group, MSA Safety, Ansell Ltd., Lakeland Industries, Inc., Liberty Gloves & Safety, Inc., Bacou-Dalloz, Inc., Protective Industrial Products Inc., Southern Glove, Inc., Westchester Holdings, Inc, among others.

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