Pune, India, April 22, 2022 (GLOBE NEWSWIRE) — The world protective gloves market The size is expected to reach USD 33.26 billion by 2029 and grow at a CAGR of 4.6% during the forecast period. The booming construction industry is expected to support the growth of the market. Fortune Business InsightsMT presented this information in its report entitled, “Protective Gloves Market, 2022-2029”. The market size stood at USD 21.39 billion in 2021 and USD 24.20 billion in 2022.
Additionally, increasing workplace safety regulations in developing and developed countries are expected to create lucrative growth opportunities for the market.
Impact of COVID-19-
Increased Demand for Disposable Gloves in Healthcare Industry During COVID-19
The novel coronavirus pandemic has increased the demand for protective gloves. The need for personal protective equipment has increased during the pandemic, which has accelerated the growth of the market. Rising awareness for disease prevention in the healthcare sector and patient welfare is expected to drive the market growth in the coming years. Additionally, the unpredictable duration of the coronavirus pandemic is expected to propel the market growth in the coming years.
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List of Major Market Players in the protective gloves market are:
- Huihong (NANTONG) Safety Products Co., Ltd (China)
- Ansel Ltd. (Australia)
- Hartalega Holdings Berhad (Malaysia)
- Top Glove Corporation Bhd (Malaysia)
- 3M (USA)
- Superior Gloves (US)
- KOSSAN Rubber Industries Ltd. (Malaysia)
- Kimberly-Clark Corporation (USA)
- DIP PRODUCTS PLC (Sri Lanka)
- Globus (Shetland) Ltd. (UK)
- Uvex Group (Germany)
- PIP Global (USA)
- Honeywell International Inc. (USA)
- Showa Glove Co. (USA)
- Towa Corporation (Japan)
- Supermax Corporation Berhad (Malaysia)
- ATG – Smart Glove Solutions (Sri Lanka)
- Lalan Group (Pvt) Ltd (Malwana, Sri Lanka)
- Jiangsu Hanvo Safety Product Co.,Ltd. (China)
- QS Security (China)
On the basis of product, the market is divided into durable and disposable. On the basis of raw material, the market is segmented into leather (durable) gloves, vinyl (PVC) gloves, polyurethane, neoprene, nitrile and natural rubber. Based on application, the market is categorized into mining, oil & gas, food & beverage, construction, manufacturing, healthcare & medicine, etc. Geographically, the market is categorized into Latin America, North America, Europe, Asia-Pacific, Middle East & Africa.
- It highlights detailed information on different market segments, products, raw materials, applications and others.
- It includes an assessment of the impact of the COVID-19 pandemic on the market.
- It incorporates Porters Five Forces analysis for accurate market prediction.
- It discusses the latest developments observed in the market.
- It highlights the various restraints and growth drivers of the market.
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Drivers and Constraints-
Rapid expansion of construction industry to drive market growth
Rising workplace safety regulations due to growing labor force in manufacturing, food processing, oil and gas, healthcare and chemical industries are expected to be a major driver of the growth of the protective gloves market. Increasingly stringent regulatory standards in Europe and the United States, especially in the manufacturing industry, are expected to drive significant market growth.
The rapid expansion of the construction industry and the growing number of workers in the industry are expected to lead to an increase in the demand for protective gloves. The high exposure to several hazards on construction sites requires protection, which increases the demand for products.
Additionally, the growing focus of manufacturers on launching more durable protective gloves made from hemp, flax, and bamboo is expected to be a key trend aiding market growth.
However, allergic reactions and skin allergies due to latex may restrain the market growth over the forecast period.
North America will experience significant growth due to strict laws
North America is expected to achieve a major share of the protective gloves market. Increasingly stringent laws mandating the use of protective gloves in various industries, coupled with growing wellness awareness, are expected to drive growth in North America. Additionally, rising instances of pandemics including Swine Flu, Ebola, COVID-19, and others are expected to aid the market growth in the region.
Asia-Pacific is expected to experience immense growth owing to growing innovations from several glove manufacturers, increasing awareness of workplace safety, and rising raw material prices. Additionally, expanding healthcare sector in Japan, India, China and Malaysia is expected to amplify the market growth of the region.
Europe is expected to experience substantial growth due to the policy framework set by the European Union which mandates the use of gloves in accordance with established standards.
Browse Detailed Abstract of Research Report with TOC:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Main market trends
- key ideas
- Main emerging trends – for main countries
- Main developments: mergers, acquisitions, partnerships, etc.
- Latest technological advancement
- Overview of the regulatory scenario
- Analysis of the five forces of carriers
- Qualitative Insights Impact of COVID 19 on the Global Protective Gloves Market
- Supply chain challenges
- Measures taken by government/companies to overcome this impact
- Potential opportunities due to the COVID-19 outbreak
Key players are adopting ingenious strategies to amplify their growth prospects
The highly competitive and fragmented market includes several international and regional players such as 3M, Honeywell International, Top Glove, Ansell and others. The major market players are adopting various growth strategies such as new product launches, joint ventures, alliances, partnerships, acquisitions, and others to amplify their growth prospects. For example, KOSSAN Rubber Industries Bhd donated nearly 2 million medical gloves in March 2020 to support Malaysian authorities in the fight against the coronavirus outbreak.
Key industry development-
- February 2020: Ansell Limited has acquired 50% of the issued shares of Careplus (M) Sdn Bhd from Careplus Group Berhad for a total of USD 9 million. This acquisition will help Ansell enter the surgical glove market and expand its business portfolio.
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Take a look at related research information:
Personal Protective Equipment (PPE) Market Analysis of the size, share and impact of COVID-19, by product (hand, eye and face protection, hearing protection, protective clothing, respiratory protection, protective footwear, fall protection, head protection and others), by end-use industry (manufacturing, construction, automotive, oil and gas, healthcare, food, chemical, transportation and others) and regional forecast, 2022-2029
disposable medical gloves market Analysis of the size, share and impact of COVID-19, by application (surgery and examination), by material (latex and synthetic), by category (powdered and powder-free), by end-user (hospitals and clinics) , diagnostic/pathology laboratories, dental clinics and others) and regional forecasts, 2022-2029
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