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Pune, India, May 04, 2023 (GLOBE NEWSWIRE) — The global protective gloves market growth is predicted to reach USD 33.26 billion by 2029 and exhibit a CAGR of 4.6% during the forecast period. The swiftly expanding construction industry is anticipated to bolster the growth of the market. Fortune Business Insights™ has presented this information in its report titled, “Protective Gloves Market, 2022-2029”. The market size stood at USD 21.39 billion in 2021 and USD 24.20 billion in 2022.
The market is poised to experience a surge in growth, thanks in part to the increasing stringency of workplace safety regulations worldwide, both in developing and developed countries. This trend is expected to provide a bounty of lucrative opportunities for the industry.
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List of Key Market Players-
- 3M (U.S.)
- Superior Gloves (U.S.)
- KOSSAN Rubber Industries Ltd. (Malaysia)
- Kimberly-Clark Corporation (U.S.)
- DIPPED PRODUCTS PLC (Sri Lanka)
- Globus (Shetland) Ltd. (U.K.)
- Uvex Group (Germany)
- PIP Global (U.S.)
- Honeywell International Inc. (U.S.)
- Showa Glove Co. (U.S.)
- Towa Corporation (Japan)
- Supermax Corporation Berhad (Malaysia)
- ATG- Intelligent Glove Solutions (Sri Lanka)
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2022-2029 |
| Forecast CAGR | 4.6% |
| 2029 Value Projection | USD 33.26 Billion |
| Market Size in 2022 | USD 24.20 Billion |
| Historical Data | 2018-2020 |
| No. of Pages | 354 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| protective gloves market Growth Drivers | Swiftly Expanding Construction Industry to Stimulate Market Growth |
| North America to Gain Prominent Growth Due to Stringent Laws |
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COVID-19 Impact-
The global market for protective gloves has experienced a significant uptick in demand amidst the ongoing COVID-19 pandemic. As the need for personal protective equipment (PPE) surged during the outbreak, the market for protective gloves has expanded in tandem. This growth is further driven by increasing awareness of the importance of disease prevention in the healthcare sector, as well as a greater emphasis on patient well-being.
Segmentation:
The market can be classified based on several key factors. Firstly, products can be divided into two broad categories: durable and disposable. Secondly, the market can be segmented by the raw materials used, with options including leather gloves (durable), vinyl (PVC) gloves, polyurethane, neoprene gloves, nitrile gloves, and natural rubber gloves. Another important factor to consider is the application of the gloves, with categories including mining, oil & gas, food & beverages, construction, manufacturing, healthcare & medical, and others.
Finally, the market can also be classified by geography, with regions including Latin America, North America, Europe, Asia Pacific, and the Middle East & Africa. By analyzing the market through these various lenses, stakeholders can gain a comprehensive understanding of the industry and the opportunities and challenges it presents.
Report Coverage-
- It highlights detailed information on different market segments, products, raw materials, applications, and others.
- It includes an assessment of the COVID-19 pandemic’s impact on the market.
- It incorporates Porter’s Five Forces Analysis for precise market prediction.
- It addresses the latest developments witnessed in the market.
- It highlights the various restraints and drivers of the market’s growth.
Drivers & Restraints-
The protective gloves market is poised for significant growth, driven in part by the increasing number of workers in manufacturing, food processing, oil & gas, healthcare, and chemical industries. As workplace safety regulations continue to escalate, the demand for protective gloves is expected to rise. This trend is particularly evident in Europe and the U.S., where stringent regulatory norms are expected to further stimulate market growth, especially in the manufacturing industry.
The construction industry is also experiencing rapid expansion, with a corresponding increase in the number of workers in the field. As workers face numerous hazards on the job, the demand for protective gloves is expected to surge.
In response to growing concerns over sustainability, manufacturers are increasingly focusing on launching more sustainable protective gloves made from hemp, linen, and bamboo. This trend is expected to further foster market growth.
Despite these positive trends, market growth may be restrained by allergic reactions and skin allergies associated with latex gloves. However, stakeholders remain optimistic about the long-term potential for the protective gloves market.
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Regional Insights-
The protective gloves market is set to witness a significant share in North America, owing to the implementation of stringent regulations mandating the use of protective gloves in various industries. The region’s growing awareness of personal safety and well-being is further expected to fuel market growth. The ongoing global health crisis, including the COVID-19 pandemic, is also likely to support the region’s market expansion.
Asia Pacific is expected to experience significant growth in the protective gloves market, driven by innovative initiatives from various glove manufacturers, increasing awareness of workplace safety, and rising prices of raw materials. The growing healthcare sector in countries such as China, India, Japan, and Malaysia is also expected to contribute to the region’s market growth.
In Europe, the market is expected to witness substantial growth due to the European Union’s regulatory framework that mandates the use of gloves in compliance with set norms.
Competitive Landscape-
The protective gloves market is highly competitive and fragmented, with several international and regional players vying for a larger market share. Key players such as 3M, Honeywell International, Top Glove, and Ansell, among others, adopt various growth strategies such as new product launches, joint ventures, alliances, partnerships, acquisitions, and others to augment their growth prospects.
To illustrate, in March 2020, KOSSAN Rubber Industries Bhd donated nearly 2 million pieces of medical gloves to support the Malaysian authorities in the fight against the coronavirus outbreak. Such initiatives help the companies to not only enhance their brand image but also showcase their commitment to society.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Market Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Qualitative Insights Impact of COVID-19 on the Global Protective Gloves Market
- Supply Chain Challenges
- Steps were taken by Government/Companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
- Global Protective Gloves Market Analysis, Insights, and Forecast, By Product, 2018-2029
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Product (Value)
- Disposable Gloves
- Chemical Handling Gloves
- Sterile Gloves
- General Purpose Gloves
- Surgical Gloves
- Others
- Durable Gloves
- Mechanical Gloves
- Cut Resistant
- Multi-Task
- Oil Repellent
- Others
- Chemical Handling Gloves
- Thermal/Flame Retardant Gloves
- Others
- Mechanical Gloves
- Disposable Gloves
- By Raw Material (Value)
- Natural Rubber Gloves
- Nitrile Gloves
- Neoprene Gloves
- Polyurethane Gloves
- Vinyl (PVC) Gloves
- Leather Gloves (Durable)
- By Application (Value)
- Medical & Healthcare
- Manufacturing
- Construction
- Food & Beverage
- Oil & Gas
- Mining
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By Product (Value)
TOC Continued…!
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Read Related Insights:
Personal Protective Equipment Market to Worth USD 110.85 Billion by 2029 | PPE Industry CAGR of 8.1% by (2022-2029)
Disposable Medical Gloves Market Size to Surpass USD 21.28 Billion by 2029, With 5.1% CAGR | Research by Fortune Business Insights
Healthcare PPE Market to Reach USD 27,264.4 Million by 2028; Rising COVID-19 Cases Worldwide to Augment Growth, States Fortune Business Insights™
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