Industrial Hand Gloves Market Size, Trends 2019 Global Industry Share, Growth, Opportunities, Segmentation, Key Manufacturers And Forecast To 2025
According to the analysis of Market Research Future (MRFR), the Global Industrial Hand Gloves Market is poised to register a market valuation of USD 9,583.7 million by 2025 at a projected CAGR of 7.29% through the review period.
Pune, India – September 30, 2019 /MarketersMedia/ —
Drivers and Restraints
The global industrial hand gloves market is rapidly expanding owing to strict government regulations for workforce security and an increasing incidence of mishaps in workplaces. on the other hand, the growth of the market may be slowed down by the increase in automation across various industries. The presence of globally recognized organizations in developed countries is likely to impact the developing countries to follow the industrial safety standards. furthermore, shifting the focus of industries on the impediment of accidents owing to strict regulations and norms from the global and domestic organization will improve the adoption of industrial gloves and impel the global industrial hand gloves market over the review period. therefore, the impact of stringent government regulations for workforce safety is anticipated to shift the growth rate from moderate to high through the assessment period.
However, the boost in automation across industries is projected to affect employment, which further hinders the sales and demand for industrial hand gloves for workforce security over the review period. consequently, the impact of the decrease in employment owing to automation opportunities is projected to shift from low to moderate during the review period.
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Segmental Analysis
The global market for industrial hand gloves has been segmented based on product, material, application, and region.
The global industrial hand gloves market, based on the material, has been segmented into leather gloves, natural rubber, nitrile gloves, polyethylene gloves, metal mesh gloves, neoprene gloves, and others. With application across various industries, the natural rubber gloves are anticipated to sustain its lead in the industrial hand gloves market.
On the basis of product, the market has been segmented into disposable gloves and reusable gloves. Among these products, disposable gloves segment has accounted for the largest market share, followed by the reusable gloves segment. With the automotive, chemical, and food and beverage industry presently prosperous, the disposable gloves segment is expected to continue its domination in the market for industrial hand gloves.
Based on application, the global market for industrial hand gloves has been segmented into the chemical industry, healthcare industry, construction industry, food & beverage industry, automotive industry, and others. The healthcare segment dominates the market share and is likely to retain its lead over the review period. Disposable, nitrile, latex, natural rubber gloves are extensively utilized by the healthcare industry. With the medical gloves playing an essential role in protecting patients and the medical service providers, the demand for industrial hand gloves from the medical industry is anticipated to rise in the forecast period.
Regional Analysis
The industrial hand gloves market has been segmented based on the region, into Asia Pacific, North America, Europe, among others.
North America leads the global industrial hand gloves market. The presence of developed infrastructure and significant market players positioned in this region offers North America with ample growth opportunities for considerable growth in the forecast period. The established healthcare industry in the region has enabled the industrial hand gloves market to produce substantial revenue in North America. progressively growing automotive sector, along with the chemical industry offers massive scope for the growth of the industrial hand gloves market over the review period. furthermore, the US dominates the industrial hand gloves market primarily due to the large workforce present in the nation.
The European region has observed rapid growth in current times and holds the second largest market of industrial hand gloves market. The thriving automotive industry has been one of the major contributing factors for the growth of the market for industrial hand gloves in the region. Germany has dominated the European region in terms of both value and volume. With new reforms concerning the security of workers and their safety, the industrial hand gloves market has plenty opportunities in the European region for further growth and development over the review period.
Key Market Players
The major market players of the global industrial hand gloves market are Top Glove Corporation Bhd (Malaysia), Towa Corporation (Japan), Shamrock Manufacturing Company, Inc. (the US), Rubberex (Malaysia), Globus (Shetland) Ltd (UK), Honeywell International Inc. (US), Ansell Ltd (Australia), 3M (US), Semperit AG Holding (Austria), and Kossan Rubber Industries Bhd (Malaysia).
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