July 20, 2024
Gloves Segment Driving Industrial Hand Protection Gloves Market

The Growing Popularity of Single-Use Gloves is Anticipated to Openup the New Avenue for Industrial Hand Protection Gloves Market

The Industrial Hand Protection Gloves Market is estimated to be valued at US$ 14201.83 Mn or 14.2 Bn in 2023 and is expected to exhibit a CAGR of 11 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Industrial hand protection gloves are personal protective equipment used in industrial applications to protect hands from mechanically related hazards such as cuts, impact, punctures, heat, chemicals and other hazards. Key applications of industrial hand protection gloves include manufacturing, construction, chemical, automotive, electronics and others. The gloves are made up of materials such as latex, nitrile, polyethylene, cotton, leather, metal detection plastic and cut resistant Kevlar/fiberglass. One-time use disposable gloves are gaining popularity for safety and hygienic applications.

Market Dynamics:

Stringent regulations regarding industrial safety are driving the demand for industrial hand protection gloves. Growing awareness about workplace safety and importance of using personal protective equipment is fueling the market growth. In addition, increasing industrial activities across manufacturing, construction, mining, oil & gas and other industries globally is positively impacting the industrial hand protection gloves market. The rising popularity of single-use gloves among end-use industries owing to hygienic concerns post COVID-19 pandemic is expected to create new market opportunities over the forecast period.

Segment Analysis

The global industrial hand protection gloves market is dominated by the chemical resistant gloves sub-segment. These gloves provide high level of chemical resistance and protection against a wide range of chemicals used in industries such as chemicals, oil & gas, healthcare, among others. They are made of various materials such as Neoprene, Nitrile, PVC, Viton, among others to provide protection from solvents, acids, alkalis along with cut and abrasion resistance.

PEST Analysis

Political: Stringent employee safety regulations across regions are driving the demand for industrial gloves. For instance, OSHA in the US has standards for selection and use of appropriate PPE including gloves.

Economic: Growth of end-use industries such as oil & gas, construction, healthcare, chemicals is supporting the market growth. developing economies are witnessing higher investments and infrastructure projects.

Social: Increasing awareness about employee safety and availability of innovative gloves catering to specific application needs are fueling the demand. Customers are willing to pay premium for gloves offering high durability and protection.

Technological: Advancements in materials such as non-latex synthetics like Nitrile, Neoprene are making gloves lighter, thinner and more flexible without compromising durability and chemical resistance.

Key Takeaways

The Global Industrial Hand Protection Gloves Market Size is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, 2023 to 2030. The market size for 2023 is estimated at US$ 14201.83 Mn. Growth will be driven by stringent regulations mandating use of gloves across industries and increasing investments in manufacturing and construction sectors globally.

Asia Pacific dominates the global market and is expected to witness fastest growth at a CAGR of over 12% owing to large manufacturing and construction sectors in China and India. Stringent employee safety norms are fueling the demand. North America and Europe are other major regional markets driven by high adoption of gloves in developed healthcare, oil & gas and chemicals industries.

Key players operating in the industrial hand protection gloves market are Kossan Rubber Industries Bhd, Uvex Group, 3M Company, COFRA Srl, Hartalega Holdings Berhad, MCR Safety, Top Glove Corporation Berhad, Midas Safety Inc., Protective Industrial Products, Inc., Ansell Limited, Kimberly Clark Corporation, Honeywell, and Alpha Pro Tech Limited. Key players are focusing on new product launches catering to specific applications, partnerships with end-use industries and expansion in emerging markets to gain higher shares.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it