Industrial gloves market is expected to reach $9.7 billion by 2020
Portland, OR – According to a new report by Allied Market Research titled World Industrial Gloves Market – Opportunities and Forecast, 2014 – 2020, global sales of industrial gloves would reach US$9.7 billion by 2020, registering a compound annual growth rate (CAGR) of 12.8% during 2015-2020.
The disposable gloves segment of the industrial gloves marked accounted for over half of the market revenue in 2014 and would retain its lead throughout the analysis period. Asia-Pacific market would exhibit the highest CAGR during the forecast period, both in terms of volume and revenue.
The world industrial gloves market is transitioning to novel glove materials such as nitrile, vinyl, neoprene and polyethylene. The shift can be attributed to the allergic reactions caused by latex gloves and superior resistivity and protection properties offered by novel materials.
Reusable industrial gloves are deployed as personal protective equipment (PPE) in various industries, including automotive, food, chemical and healthcare, to ensure safety and sanity at work places. The onslaught of threats to the personnel and consequent work safety awareness, the rapidly growing food processing industry and rising demand for high-dexterity gloves are the factors fuelling the market growth.
Recent introduction of advanced manufacturing techniques such as use of fillers, polyurethane coatings and thermal gravimetric analysis have given rise to cost-effective reusable gloves, thereby supplementing the market growth.
Disposable industrial gloves are mainly used to prevent cross-contamination between industrial personnel and products. Disposable industrial gloves are preferred across various industries including semiconductors, pharmaceuticals, food, and healthcare among others.
Eco-friendliness, affordable cost, high degree of flexibility and sterility of disposable industrial gloves would supplement the market growth. In addition, the outbreak of epidemics such as swine flu and Ebola, among others, would further boost the market growth. Conversely, unstable raw material prices and the use of robotics in manufacturing would limit the market growth of industrial gloves.
The machinery end-user segment would continue to lead the global reusable industrial gloves market throughout the forecast period. The mechanical protection provided by knitted gloves is the prime reason attributed to sustained dominance of the machinery end-use segment. On the contrary, the semiconductors end-use segment was the highest revenue-generator in 2014.
Key findings of the study include:
– Supported knitted gloves dominated the reusable industrial gloves market, accounting for about 50% market revenue, in 2014
– Food processing end-use segment is identified as the most lucrative segments in the world disposable industrial gloves market
– The general purpose/mechanical protection gloves segment was the highest revenue generating segment in 2014
– Natural rubber gloves segment would continue to lead the world disposable industrial gloves market
– Polyethylene gloves segment is projected to exhibit the highest CAGR of 14.9%, in terms of volume
– North America and Europe collectively accounted for around three-quarters of the world industrial gloves market revenue in 2014
North America was the highest revenue generating region in 2014, owing to stringent work safety regulations associated with industrial manufacturing. However, Asia Pacific region would exhibit the fastest growth in the reusable industrial gloves market, over the forecast period, owing to the shift of manufacturing base to emerging economies of the region.
Key companies profiled in the report are Honeywell International Inc., SHOWA Inc, Ansell Healthcare, Superior Glove, Shamrock Manufacturing Company Inc., Towa Corporation, Hartalega Holdings Berhad, Rubberex, Top Glove Corporation Berhad and Semperit AG Holding.
For detail on the report, visit https://www.alliedmarketresearch.com.