July 19, 2024
Industrial Explosives Market

The Growing Scope Of Industrial Safety Is Anticipated To Open Up New Avenue For Industrial Gloves Market

Market Overview:

Industrial gloves are protective gloves that are used for various industrial applications to provide protection against dangers such as chemicals, disease, heat and mechanical hazards. The gloves help shield workers from cuts, abrasions, punctures and even hazardous materials. Some common industrial gloves include latex gloves, nitrile gloves, leather gloves, plastic gloves and kevlar gloves. They are widely used in industries such as automotive, food & beverages, chemical, healthcare and construction among others.

Market Dynamics:

The drivers boosting the growth of the market include stringent worker safety regulations across industries and growing emphasis on workplace safety. According to the Occupational Safety and Health Administration (OSHA), the U.S. suffered around 3.5 million occupational injuries in 2018 alone. This has prompted industries to place more importance on worker safety through use of protective industrial gloves. Another driver is increasing industrialization and manufacturing activities worldwide which is boosting demand for industrial gloves from industries like automotive, chemicals, electronics and food & beverages.

Segment Analysis

The industrial gloves market is dominated by the disposable gloves segment, which holds around half of the total market share. Disposable gloves offer high strength, dexterity, and are ideally suited for applications where contamination is a concern. Their single-use nature makes them cost-effective for tasks involving chemical handling, medical examination, and product inspection among others.

The global Industrial Gloves Market Growth is estimated to be valued at US$ 8614.72 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

PEST Analysis

Political: Stringent worker safety regulations across industries such as oil & gas, automotive, healthcare regarding the use of protective equipment are boosting the industrial gloves market.
Economic: Rising industrialization in developing nations and higher spend on workplace safety amid COVID-19 pandemic is fueling the demand for industrial gloves.
Social: Increased awareness about benefits of using gloves for protection against hazards at work is a major growth driver.
Technological: Advancements in material science have led to development of cut-resistant and breathable glove varieties.

Key Takeaways

The global industrial gloves market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing industrialization and stringent worker safety mandates. The market size for 2023 is estimated to be US$ 8614.72 Mn.

Regional analysis
Asia Pacific dominates the global industrial gloves market and is expected to maintain its lead over the forecast period. This can be attributed to growing manufacturing industry in China and India and favorable government initiatives for worker safety.

Key players
Key players operating in the industrial gloves market are Top Gloves, Honeywell Safety Products, 3M Corporation, Ansell, Showa Group, Corolina Glove & Safety Company, Superior Gloves, Southern Gloves Inc., UVEX Safety Group, Longcane Industries, Shangdong Yuyuan Latex Gloves, Marvel Glove Industries, and Kanam Latex Industries Pvt. Ltd.

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