The global chemical protective gloves market to reach a valuation of US$ 3,641.8 from 2017 to 2026

March 7, 2018

glovesAccording to the latest report by Transparency Market Research (TMR), the global chemical protective gloves market is set to exhibit a CAGR of 4.6% from 2017 to 2026 and reach a valuation of US$3,641.8 million.

This is driven by the increasing efforts to improve worker safety in manufacturing facilities and factories in certain countries. Manufacturing facilities in these countries are now bound to increasing their worker safety standards or else risk being charged for regulatory violation.

Chemical protective gloves have a ton of application. They are used in industries such as manufacturing, construction, pharmaceutical, agriculture and oil & gas among others. Such gloves are extremely important in high-risk working environment, chemical protective gloves can significantly reduce the impact of exposure of hand to harmful chemicals.

Also, worker injuries and illness is a major concern for both private sector and public sector. The U.S department of labour stated that there were 1,153,490 days-away-from-work cases in private industry, state government, and local government in 2015. Hand injuries or illnesses is one of the major reasons for days-away-from-work. In order to curb such time-loss and injury frequency rate, manufacturing facilities are upgrading their worker safety model.

Moreover, government is developing countries are stepping up efforts to spread awareness about worker safety. The worker safety regulation are moderate in third world countries, hence, worker are at a higher risk of picking up injuries. The increased level of awareness among people towards health and safety at work in both developed and developing countries is also expected to drive the global sales of chemical protective gloves in the years to follow.

North America will remain a major market for chemical protective gloves over 2026.

Demand for chemical protective gloves is expected to remain high in North America in 2018 and beyond. In terms of revenue, the region is expected to dominate the global chemical protective gloves market throughout the assessment period. The market in the region is expected to witness a steady CAGR of 4% between 2017 and 2026. This is primarily owing to presence of a well-defined worker safety regulatory landscape, which ensures adherence to safety standards of the highest level.

Nitrile gloves is the top selling product type.Preference for nitrile gloves will continue to remain strong during the foreseeable period.  This is primarily due to their superior resistance as compared to other type of clubs. Nitrile gloves have greater resistance to acids, oils and chemicals. Currently, global sales of nitrile gloves represent for more than 45% revenue share of the global chemical protective gloves market. By 2026-end, around US$1,879.9 million worth nitrile gloves are expected to be sold worldwide.

(RJA)


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