Published: Nov, 2016
The global industrial gloves market is characterized by intense competition among the major players. Showa Group dominated the market in 2015 with a massive 32.5% share. This can be attributed to its wide product range of industrial gloves. The company also focuses on acquisitions to strengthen its position in the industrial gloves market. Ansell Ltd. held the second largest share with product offerings catering to both industrial and healthcare segments.
Honeywell Safety Products is a prominent player in the overall personal protective equipment industry; however, it has a weak presence in the industrial gloves industry because its product portfolio is focused on other types of PPE as well as industrial gloves. Although 3M Corporation accounts for a small share in the industrial gloves market, the company has introduced several new gloves in order to increase its offerings to the customers.
In industries where gloves are worn and disposed of frequently – such as food, chemicals, healthcare and pharmaceuticals – the use of disposable gloves is preferred. According to the report, the global industrial gloves market was worth US$5.13 bn in 2015 and is expected to reach a valuation of US$11.01 bn during the forecast period of 2016 to 2024, expanding at a significant CAGR of 9.6%.
Promising Growth in Store in Asia Pacific as Economic Conditions Strengthen
North America dominated the industrial gloves market in 2015, accounting for more than 35% of the total market, with the U.S. being the leading country in the region. Asia Pacific, on other hand, is forecast to witness robust growth by 2024 owing to extensive industrialization and the strengthening of economic conditions in developing countries such as India, China, and Japan.
By product, the segment of disposable gloves took the lead, valuing US$4.48 bn in 2015. The growth of this segment is a reflection of the increased adoption of disposable gloves among end users. On the basis of application, the global market for industrial gloves is dominated by the pharmaceuticals. On the basis of materials, rubber gloves accounted for the maximum market revenue in 2015.
Global Industrial Gloves Market Feeding off Other Progressive Industries
The thriving pharmaceuticals, healthcare, food, and chemicals industries are proving to be beneficial to the growth of the global industrial gloves market as these gloves capture almost 30% of the market. Moreover, accidents at the workplace have become a significant concern, thus paving the way for the influx of industrial gloves. With increasing awareness about workers’ safety, protective gloves are used in places where workers are more susceptible to cuts, injuries, infections, and contamination. Regulations set by the Occupation Safety and Health Organization (OSHA) is also stressing the use of industrial gloves.
Product innovation is another key driver in the global industrial gloves market and a variety of small and major players such as 3M, Honeywell, Ansell, DuPont, MSA, and Uvex are introducing new products. For example, 3M launched comfort grip gloves for general and winter use, as well as cut-resistant gloves and working gloves. These products are specifically designed for contractors and electricians. The comfort grip concept introduced by 3M provides superior protection from cuts, punctures, and other dangerous situations.
Conversely, due to the lucrative nature of this industry, the threat of new entrants is very high. Several local players have begun to manufacture industrial gloves that are low in quality but also low in prices. These locally manufactured gloves are extensively used across several application segments, due to which major manufacturers in the field are facing stiff competition. A lack of awareness regarding the benefits of industrial gloves is another restraint on the global market.
According to the author of the report, “The demand for industrial gloves is fairly high in North America and Europe, owing to high concerns about worker safety. However, developing regions such as Asia Pacific, Latin America, and the Middle East are yet to be fully tapped. Strict regulations set by concerned authorities regarding the usage of industrial gloves are also expected to increase the demand for industrial gloves in these regions in the future.”
The information presented in this review is based on a Transparency Market Research report, titled, “Industrial Gloves Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016–2024.”
Key Segments of the Industrial Gloves Market
Global Industrial Gloves Market, by Product Type
- Disposable Gloves
- Re-Usable Gloves
Global Industrial Gloves Market, by Application Type
Global Industrial Gloves Market, by Material Type
Global Industrial Gloves Market, by Geography
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of APAC
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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