According to a new research report by Global Market Insights, Inc.,a US-based global market research and consulting service provider, Industrial Safety Gloves Market is forecasted to reach US$6.7 billion by 2023, with the natural rubber (NR) gloves market expected to generate 6.2% of growth.
The increase in demand from end-use industries such as automotive, oil & gas, mining, food processing, chemical and aviation industry should fuel global industrial safety gloves market size.
Increasing safety awareness to ensure workers’ protection and security as well as cleanliness in the workplace should drive industrial safety gloves demand. However, unstable raw material costs, currency fluctuations along with toxic side effects due to gloves usage may hamper industrial gloves market growth in coming years.
China, India, Japan, Thailand, Malaysia and the US are the major regional industry avenues, while robust growth is projected for South Africa, Brazil, UK and Mexico. Stringent material regulations coupled with favorable initiatives to promote sustainable products may propel industry growth.
US industrial safety gloves market size may generate over US$2.5 billion by 2023. Favourable regulation along with rapid growth in automobile industry should favour industry growth. Growing government spending on healthcare and old age nursing homes will increase product demand. Shale gas exploration in the US will drive product demand for oil & gas application.
Natural rubber gloves market may generate over 6.2% growth. Handling chemicals and sharp tools may drive industry growth in automotive and construction sectors. Natural rubber gloves are also used in medical & dental, food processing, automotive and manufacturing industries.
Some other key insights in the report include:
- Vinyl gloves in UK, Italy, France, Russia and Germany were valued at over 235 million in 2015. It finds application in food service, plumbing, agriculture, janitorial, medical, dental, and paint industries. It has good resistance properties against bases, greases and acids.
- Cut gloves in India, China, South Korea and Japan market, may grow much at 7%. Technological advancements coupled with increasing use of high performance polymer material which provides medium level safety along with high comfort levels may drive market growth.
- Mexico and Brazil industrial safety gloves market share generated at over 240 million units in 2015. Strong industrial development and growing awareness for safety & well-being in industries and implementation regulations are will stimulate regional growth.
The need for efficient gloves with better grasp and comfort are the prime reasons crediting to steady product launches.
Major players include Top Gloves, Ansell, Kossan, Supermax Corporation, Hartalega and Latexx. Other prominent participants include Honeywell International, Acme Safety, MCR Safety, Towa Corporation, Rubberex, RFB, Riverstone Holdings, Showa, Dipped Products and Longcane Industries.