Industrial Hand Gloves Market by Double-Digit | Business Strategies, Current Trends, Global Size, Share, Competitor Landscape, Challenges, Opportunities, Statistics and Regional Forecast to 2025
Research Reports
Dec 29, 2020
Market Bytes
Industrial hand gloves are gaining the maximum traction in the latest as these are used heavily in all industrial sectors such as chemicals, oil & gas, food & beverage, and automotive. Upon this, Market Research Future reveals that the global industrial hand gloves market is poised to expand over USD 9,583.7 million by attaining an estimated CAGR of 7.29% during the forecast period by 2025.
Market Trends & Key Challenges
The usage of industrial hand gloves has been increased considerably mainly for the workers for safety purposes and health concerns to prevent hazardous chemical, metal cuts, glass cuts, and high-temperature sources. Its usage has also been witnessed in manufacturing plants, assembling plants, chemical plants, and medical institutions to prevent heat, corrosive substances and sharp objects. These beneficiaries are making the industrial hand gloves accessible, which is impacting the market to expand considerably.
At the same time, the strict government regulation for workers and their safety has also initiated growth pathways for the market rapidly. Mainly the stringent government regulations in the US and the European Union (EU) regarding workplace safety have raised the demand for more manufacturing of industrial hand gloves. At present, in the US, large bodies such as American National Standard for Hand Protection (ANSHP), Environmental Protection Agency (EPA), and Occupational Safety and Health Administration (OSHA), the Department of Labor, are actively looking into the safety precautions in the industries for workers. These factors are driving the market toward growth during the forecast period.
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Besides, the rising number of incidents like accidents in workplace and more have also emerged the market to a great extent. Therefore, the internationally recognized organizations in developed countries are influencing the workers to follow the industrial safety standards, which includes compulsory usage of industrial hand gloves during working hours in industries.
On the flip side, the factor of increase in automation across industries might affect employment, which further could become the reason for restraining the demand and sales for industrial hand gloves for workforce. Also, due to this reason, the impact of the reduction in employment opportunities can even shift from low to moderate during the market’s growth period.
Market Segmentation
The world of global industrial hand gloves market has been segmented by the elements of material, product, and application.
With respect to the material: Natural rubber, leather gloves, polyethylene gloves, nitrile gloves, neoprene gloves, metal mesh gloves, and more are the segments. Among these, the global market was led by natural rubber segment in 2018 which is now projected to drive throughout the assessment period. Natural rubber is chiefly used in the food & beverage industry and also have found rapid integration in the chemical industry. Additionally, the rise in the household application has also boosted sales in the industrial hand gloves market.
With respect to product: Reusable gloves and disposable gloves are the segments. Among these segments, disposable gloves accounted to have the largest market share. These are majorly utilized in the healthcare industry, and its wide applications across other industries such as chemical, food, and beverage, automotive, and more have resulted in acquiring a significant market share in recent times for this segment.
In terms of applications: Healthcare industry, chemical industry, automotive industry, food & beverage industry, the construction industry are the segments. The healthcare industry segment led the market in 2018 and currently projected to be the leader of the forecast period. Disposable, nitrile, latex, natural rubber is extensively utilized by the healthcare industry.
Regional Framework
The global industrial hand gloves market is probable to observe a significant growth during the forecast period in key regions of North America, followed by Europe and Asia-pacific.
Among these, the North American region leads the global industrial hand gloves market. With already existing infrastructure and significant players in this region offer ample opportunities for remarkable growth in the forecast period. With this, the flourishing healthcare industry in this region has allowed the industrial hand gloves market to create significant revenues from this region. Besides, steadily growing automotive sector, along with the chemical industry is offering massive scope for the growth of the industrial hand gloves market. In the same line, the US leads the industrial hand gloves market owing to the large workforce and established industries in this country.
The European region has perceived rapid growth presently and held for the second largest market of industrial hand gloves market. With this, the booming automotive industry has also been one of the prime contributing factors for the evolution of the industrial hand gloves market in the region. Germany has led the region in terms of both value and volume. Therefore, with new reforms about the safety of workers and their security, the industrial hand gloves market has introduced ample opportunities in this region for further growth and development.
Key Competitors
The well-known players of the global industrial hand gloves market are listed as Globus (Shetland) Ltd (UK), Top Glove Corporation Bhd (Malaysia), Ansell Ltd (Australia), Honeywell International Inc. (US), Shamrock Manufacturing Company, Inc. (the US), Semperit AG Holding (Austria), Towa Corporation (Japan), Rubberex (Malaysia), 3M (US), and Kossan Rubber Industries Bhd (Malaysia).
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Key Questions Addressed by the Report
What was the historic market size (2020)?
Which segmentation (Product/ Capacity) is driving market?
What will be the growth rate by 2023?
How are the key players in this market?
What are the strategies adopted by key players?
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 SCOPE OF THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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