Increasing Applications and Strict Industrial Work Safety Policies are Key for Driving Growth of Asia Pacific Industrial Glove Market
Considering the rate of urbanization and industrialization in the Asia Pacific region in the past few years, there has been a growing demand industrial gloves. The region has now emerged as a key geographical segment for a large number of leading companies operating in the Asia Pacific market. These companies are trying to leverage the unexplored potential of the region, particularly from the emerging nations. Apart from this, the fact that the established companies in the global rubber industry are primarily set up in the Asia Pacific has also helped in the development of the industrial gloves market in the region.
As the workers functioning in several industries, particularly in the rubber industry, often come across highly toxic and hazardous environment. Thus, wearing industrial gloves is of high importance to them. The growth of the Asia Pacific rubber industry will thus offer a considerable push to the industrial gloves market. This also means that the volatility and uncertainty witnessed in the demand for rubber will consequently lead to an undesirable effect on the overall industrial gloves market in the Asia Pacific region.
One of the key factors that has helped in the development of industrial gloves market in Asia Pacific is the strict regulations put in place to ensure workers’ safety and safer working environment. The Asia Pacific market for industrial gloves is expected to grow a healthy CAGR of 7.6% over the course of a forecast period ranging from 2017 to 2025. The market is expected to reach a valuation worth US$1.25 Bn by the end of 2025. Naturally, there are huge growth opportunities for the market in the near future.
Disposable Gloves to Gain Maximum Demand
The disposables gloves segment of the Asia Pacific industrial gloves market is expected to emerge as a key segment in the near future. The segment accounted for nearly three quarters of the overall Asia Pacific market. The production cost of these disposable gloves is lower than that of its re-usable counterparts. This is the primary factor that has helped in driving the growth of the segment in the Asia Pacific market. Keeping down the production cost means lower retail cost, which is then useful for attracting more number of consumers.
Rubber to Remain Key Material for Market in Coming Years
In terms of materials, obviously, rubber has been the key component of the Asia Pacific industrial gloves market. It is expected to remain the leading segment in the near future. The biggest driving factor for the popularity of rubber material is its variety of benefits. Using rubber glover, users get proper fitting, improved levels of touch sensitivities, highly durable against risky and hazardous situations that involves infectious materials. These gloves are good to wear for longer period of time and also have high levels of elasticity. All these benefits make rubber an ideal material for making industrial gloves and naturally, it is the key component of the overall market.
However, there are some key restraining factors for the growth of the industrial gloves market. One of the imposing challenge for the market has been the adverse effect of rubber on human health such as irritant dermatitis. It can also cause skin cracks that can later create latex allergies. Delayed cutaneous hypersensitivity is also a well-known disorder caused due to excessive wearing latex or rubber gloves.
Based on the application of industrial gloves, the pharmaceuticals and chemical industries have emerged to be the most promising segments. These industries are expected to maintain their increasing demand for these industrial gloves in the near future as the workers operating in these fields are constantly exposed to toxic and hazardous materials, and thus need protection.
Some of the key companies operating in the Asia Pacific industrial gloves market are Kossan Rubber Industries, Hartalega Sdn Bhd, and Top Glove Corporation Bhd among others.
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