Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Industrial protection gloves are essential items used in food, healthcare, and chemical industry. They are used to provide protection against heat, cold, chemicals, disease, and, damage by a fraction. Since workplaces can create many hazards, industrial hand protection gloves used to provide ample protection to workers. Chemical resistant gloves generally made up of rubber, nitrile, neoprene, polyvinyl alcohol, or vinyl, etc. These gloves protect hands from corrosives, oils, and solvents. Mechanical gloves are also known as metal mesh gloves or aramid knitted gloves which are used to protect hands from accidental cuts and scratches.
The global industrial hand protection gloves market is estimated to be valued at US$ 11,485.1 million in 2021 and is expected to exhibit a CAGR of 11.20% over the forecast period (2021-2028).
UVEX SAFETY GROUP GmbH & Co. KG has acquired further stakes in US based company Hex-Armor, a one of the leading company in personal protective equipment manufacturing.
In March 2021, Hartalega Holdings Bhd has announced to invest US$ 3.9 Bn in Malaysia’s northern region over the upcoming 20 years.
In October 2020, Kimberly-Clark Corporation has announced the acquisition of Softex Indonesia, a leader in the fast-growing Indonesian personal care market.
Figure 1. Global Industrial Hand Protection Gloves Market Value (US$ Bn), by Region, 2020
North America held dominant position in the global industrial hand protection gloves market in 2020, accounting for 33.61% share in terms of Value, followed by APEJ and Western Europe, respectively.
Global Industrial Hand Protection Gloves Market: Drivers
Rising concerns associated with industrial safety and hygiene are expected to drive growth of the global industrial hand protection gloves market during the forecast period
Increasing demand to work in dangerous environments namely repair, demolition, erection, routine maintenance, painting, land clearing, trenching, earthmoving, digging, blasting, drilling, and concreting has led to increased use of safety gloves. For instance, in Australia, Sarah Constructions distributed a hand safety awareness poster titled ‘Five Steps to Hand Safety’ to all of its sites. The company also requires subcontractors to identify specific controls that limit hand injuries in all Safe Work Method Statements (SWMS) and Job Safety Environmental Analyses (JSEA). Moreover, governments of many countries have made it mandatory for the manufacturing and construction sector to follow safety standards thereby increasing demand for protective gloves. Hence, these factors are expected to drive growth of the global industrial hand protection gloves market during the forecast period.
Increasing implementation of advanced technology is expected to propel the global industrial hand protection gloves market growth over the forecast period
Industrial gloves have witnessed significant technological advancements in the recent past. Many manufacturers are introducing advanced protection gloves to provide protection against sharp edges, packaging of chemical materials, electronics, and handling oily conditions. Expanding automobile production in emerging economies, in line with the projected rise in auto sales, is forecast to benefit demand for gloves in automotive manufacturing facilities for ensuring the safety of workers employed in assembly line manufacturing and other core functional areas. Therefore, these factors are expected to propel the global industrial hand protection gloves market growth in the near future.
Global Industrial Hand Protection Gloves Market: Opportunities
Rapid industrialization and rising FDI can present lucrative growth opportunities
Rapid industrialization and increasing foreign direct investment have led to a rising demand for hand protection gloves. Worldwide, process equipment designers, operators, and manufacturers are challenged daily to transfer, mix, separate, distill, heat, combust, react, store, package, and extend the life of the nearly 70,000 products that the chemical and processing industries provide. Increasing activity in process equipment will result in demand for Industrial glove. According to 12th Five Year Plan, the government of India has allocated around US$ 167 million for the development of process plant equipment market in India. Moreover, it has allowed 100% FDI in capital goods and engineering sectors. This, in turn, presents lucrative growth opportunities for market players.
Increasing demand for synthetic rubber glove over natural rubber glove can provide major business opportunities
Previously, gloves were made out of latex for many applications. However, nitrile gloves have emerged as one of the sought out products, owing to increasing cases of people allergic to latex. Nitrile gloves are made from a form of synthetic rubber is generally resistant to oil, fuel, and other chemicals and are hence not likely to cause any allergies. Furthermore, affordable prices of nitrile gloves, strengthening dollar and falling crude oil prices, no significant cost hike for glove makers in 2015, NBR glove sales expected to be stronger, capacity constraints in NBR segment easing, and rubber prices firming up into the wintering period.
Industrial Hand Protection Gloves Market Report Coverage
||Market Size in 2021:
||US$ 11,485.1 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 22,500.7 Mn
- North America: U.S., Canada, Mexico
- Latin America: Brazil, Argentina, Mexico, and Rest of LATAM
- Western Europe: Germany, France, U.K., Spain, Italy, NORDIC, Benelux, and Rest of WE.
- Eastern Europe: Russia, Poland, and Rest of EE.
- APEJ: India, China, ASEAN, ANZ, Japan and Rest of APAC
- MEA: GCC, North Africa, South Africa and Rest of MEA.
- By Type: Disposable Gloves, Chemical Gloves, Mechanical Gloves, Leather Work Gloves, Others (Welder gloves, Sleeves, forearm cuffs)
- By Material: Natural Rubber Gloves/Latex, Nitrile Gloves, Vinyl Gloves, Others (Neoprene, Polyethylene, Polyvinyl Alcohol, Polyvinyl Chloride)
- By End-use Industry: Healthcare, Industrial Safety & Chemical, Construction, Automotive, Others (Food Processing & Service, Manufacturing, Electronics and Agriculture)
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
- Rising concerns associated with industrial safety and hygiene
- Increasing implementation of advanced technology
|Restraints & Challenges:
- Minimum wage policy in Malaysia
- Negative impact of toxic chemical reactions
Customization and comfort for protection gloves
Comfort is probably one of the most important factors when selecting hand protection products to promote worker safety. Several factors contribute to glove comfort, including fit, flexibility, dexterity, and tactile sensitivity. For instance, Southern Glove launched the New Gen3 Superflex Pad which improves flexibility and comfort while maintaining impact integrity. Some of the Ansell gloves which offer comfort are nitrile, polyvinyl chloride (PVC), neoprene, polyvinyl alcohol (PVA), natural rubber latex, laminated film, butyl, or viton/butyl gloves that meet workers chemical protection needs. Each one is designed using the latest technology with comfort and dexterity in mind.
Business and capacity expansion is another major trend
Many companies are focused on investment, capacity, and business expansion, in order to gain a competitive edge in the market. For instance, in 2013, 3M invested US $1,715 Mn as compared to US $1,634 Mn in 2012, representing an increase of 5% over the previous year. Furthermore, in 2014, Top Glove invested US$ 194.7 Mn as compared to US$ 107.5 Mn in 2013. Investments in new technologies and the latest instruments allow for highly advanced analytical testing, as seen in their newly established wastewater testing laboratory.
Figure 2. Global Industrial Hand Protection Gloves Market Share, By Material Type, 2020
Key Takeaways of the Graph:
- The natural rubber gloves held dominant position in the market and accounted for 35.2% share in the global industrial hand protection gloves market in 2020. The segment is expected to reach US$ 8177.8 million in 2028. This is owing to significant advantages of natural rubber material.
- In 2020, the disposable gloves accounted for the largest share of 38.5% in the global industrial hand protection gloves market and is expected to be valued US$ 5472.5 million by 2028, owing to the rising adoption of disposable gloves in many end-use industries such as healthcare, manufacturing.
Global Industrial Hand Protection Gloves Market: Restraints
Minimum wage policy in Malaysia is expected to restrain growth of the global industrial hand protection gloves market during the forecast period
According to the Malaysian Rubber Board, Malaysia is now the world’s largest producer of natural rubber with a global market share of around 60% to 65%. Furthermore, it is also the largest exporter of rubber gloves in the industrial hand protection gloves. In Malaysia, there is a high possibility of unemployment rate due to the implementation of the National Minimum Wage Policy with no exception to all private sectors. According to the "Companies Commission of Malaysia" 2014 report, over 5 million SMEs registered in Malaysia. On the other hand, it is believed that SMEs may stop their operation or reduce their workers to stabilize company’s profit. Therefore, these factors are expected to restrain growth of the market in the near future.
Negative impact of toxic chemical reactions is expected to hamper the global industrial hand protection gloves market growth over the forecast period
Allergic reactions to latex can be a serious problem and potentially a fatal one. Individuals suffering from latex allergy should limit future exposure to latex gloves. Furthermore, allergic skin problems can occur following direct contact with allergic latex proteins in latex glove products. In the U.S., the Occupational Safety and Health Administration (OSHA), estimates that 8 to 12% of health care workers are latex sensitive. Industrial rubber workers, exposed for long periods to high amounts of latex, about 10% have an allergic reaction. Hence, these factors are expected to hamper the global industrial hand protection gloves market growth over the forecast period.
Global Industrial Hand Protection Gloves Market: Competitive Landscape
Major companies operating in the global 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.
Global Industrial Hand Protection Gloves Market: Key Developments
Major companies in the market are focused on mergers and acquisitions, in order to expand the market presence. For instance, in May 2019, Protective Industrial Products, Inc. acquired Worldwide Protective Products LLC, a U.S.-based provider of knitting and yarn technologies.
Key players in the market are involved in mergers and acquisitions, in order to gain a competitive edge in the market. For instance, in November 2019, Protective Industrial Products, Inc. acquired Boss Manufacturing Company’s glove, boots, and rainwear business.