The Global Industrial Gloves market was valued at US$ 5,629.7 million in 2016 according to a new report published by Coherent Market Insights. Industrial gloves are used to reduce the risks of employees by maintaining safe working conditions at the work place. Increasing mishaps in various industries have resulted in an increasing demand for personal protective equipment. Industrial gloves are manufactured based on the specific needs of various industries. Industrial gloves have excellent chemical, heat, corrosion and abrasion resistant properties, which work as an excellent barrier. The Occupational Safety and Health Administration (OSHA) requires that employers protect their employees from workplace hazards that can cause injuries and hazards. The OSHA has introduced various regulations in order to ensure safety of employees. These stringent regulations have resulted in high demand for industrial gloves across all sectors.
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Key Trends and Analysis of the Industrial Gloves Market:
Among materials typem, Rubber/Latex segment dominated the production of industrial gloves market in 2016. Asia Pacific is the major producer of industrial gloves, due to wide availability of natural rubber in the region. Nitrile was the second most used material in the production of Industrial gloves. Nitrile is expected to grow at a CAGR of 7.95% during the forecast period. However, Nitrile glove prices are expected to increase due to increasing prices of butadiene, as butadiene is an important raw material used in production of Nitrile. The recent hurricane Irma in the U.S. has resulted in an increase in the price of Butadiene, which in turn has affected Nitrile latex prices.
Key takeaways of the Market:
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