Industrial gloves are protective gloves that protect the skin from heat, harmful environments, and sharp metals. These gloves are designed to provide comfort to the wearer and do not obstruct the competence and efficiency of the wearer. Mechanical gloves are also known as metal mesh gloves or aramid knitted gloves which are used to protect hands from accidental cuts and scratches. Latex gloves are the most flexible and resilient with a consistent fit. Chemical resistant gloves generally made up of rubber, nitrile, neoprene, polyvinyl alcohol, or vinyl, etc.
The global industrial hand protection gloves market is expected to surpass US$ 22,500.88 Mn in terms of value by the end of 2028.
Global Industrial Hand Protection Gloves Market: Drivers
High growth of the healthcare sector in emerging economies is expected to drive growth of the global industrial hand protection gloves market during the forecast period
The Healthcare sector is witnessing a rapid growth in emerging economies such as India and China wherein the demand for protective gloves has increased. According to Coherent Market Insights’, the healthcare market within BRIC countries is expected to reach US$ 850 billion, register a CAGR of 9.1% during the forecast period. On the contrary, healthcare sector in other emerging regions such as Latin America, Middle East & South Africa, Southeast Asia, and Turkey is expected to reach US$ 1.3 trillion, exhibiting a CAGR of 6.8% over the forecast period. Therefore, these factors are expected to propel the global industrial protection gloves market growth over the forecast period.
Global Industrial Hand Protection Gloves Market: Opportunities
Rising adoption of gloves due to pandemics and viral disease outbreaks can provide lucrative growth opportunities
In the recent past, there has been a notable rise in demand for gloves due to increasing outbreak of flu or other viral diseases. According to the Top Glove Corp. Bh.d executive director Lim Cheong Guan, global demand for rubber gloves grew 5% to 6% annually. Furthermore, the Malaysian Rubber Glove Manufacturers Association estimated in July 2014, that demand for rubber gloves would increase by 8% to 178.6 billion pieces, where Malaysia supplies two-thirds of global production. Rubber gloves provide protection against sticky items, germs, and stainable items. It is used in various industries namely medical, food, etc.
Global Industrial Hand Protection Gloves Market: Recent Developments
In August 2020, Hartalega Holdings Bhd has proposed to acquire 60.57 acre of tract land in Sepang, Selangor for US$ 38 Million.
MCR Safety has launched ANSI Cut Level 4 product that offers higher level of cut protection with thinner and flexible glove.
In June 2021, MCR Safety has launched ANSI A9 Cut Resistant Predator Mechanic Gloves. That offer high cut resistance, ANSI Puncture 5 defence, and ANSI Impact Level 1 back-of-hand protection.
Global Industrial Hand Protection Gloves Market: Restraints
Major restrictions associated with tariff and non-tariff barrier are expected to hinder the global industrial hand protection gloves market growth over the forecast period
Countries have various different systems controlling the import of products by legal requirements and additional (buyer) requirements. Business owners have to overcome tariff and non-tariff barriers before selling products in local markets of Asia Pacific. The MFN (Most Favored Nation) rates, customs, and sales tax are some of the tariff barriers which affect the price of the products. Apart from this, there are non-tariff barriers such as government regulations and standards which are to be followed by the business utilities. Moreover, according to the United Nations Industrial Development Organization, heavy duties are applied by the EU on imports from China, thus hinders the progress of the industry. Thus, these factors are expected to hinder the global industrial hand protection gloves market growth over the forecast period.
Global Industrial Hand Protection Gloves Market - Impact of Coronavirus (Covid-19) Pandemic
Globally, as of 6:57pm CEST, 7 October 2021, there have been 236,132,082 confirmed cases of COVID-19, including 4,822,472 deaths, reported to WHO. As of 5 October 2021, a total of 6,262,445,422 vaccine doses have been administered. Emergence of Covid-19 has led to increasing demand for hand protection gloves. For instance, in September 2021, American Nitrile, a newly launched Columbus, Ohio-based company, announced to build a manufacturing facility to producing nitrile gloves for healthcare, government and industrial use to help meet the surging demand for medical and non-medical latex-free nitrile gloves.
To know the latest trends and insights related to Global Industrial Hand Protection Gloves Market, click the link below:
Product innovation is a major trend
The industrial glove industry is changing because of new technology and innovation that is delivering the fundamental requirements of consumers for glove performance such as dexterity, longevity, comfort, grip, and touch sensitivity. Manufacturers have to understand the buying habits and needs of the consumer, in order to compete for growing glove market. For instance, key trends in the healthcare industry include a need for better skin protection, less fatigue, no rubber related irritations, and rashes along with reduced allergic reactions, among others. Many of the industry players have launched new gloves such as Kimberly-Clark Professional developed its proprietary Sterling Nitrile glove manufacturing technology. This manufacturing innovation allows the company to increase the tensile strength of nitrile, resulting in superior barrier protection and puncture resistance.
Inorganic growth within the market is another major trend
Major market players focused on mergers and acquisitions, in order to enhance the market presence. For instance, in 2013, Ansell acquired Midas C. Ltd., (for US$ 41million) a producer of knitted cut-resistant industrial gloves with expertise in polyurethane coatings and yarn wrapping. Moreover, in December 2012, Ansell acquired Hercules Equipamentos de Protecao Ltd., a privately held company, which manufactures personal protective equipment (PPE) in Brazil.
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.
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