Industrial Gloves Market to Garner $ 17.0 Bn, Globally, By 2027 at 12.5% CAGR: Allied Market Research

PORTLAND, Oregon, May 4, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Industrial Gloves Market Usability (Disposable {By Material (Natural Rubber, Nitrile, Vinyl, Neoprene, Polyethylene, and Others), End-User (Aerospace, Disk Drives, Flat Panels, Food, Hospitals, Medical Devices, Pharmaceuticals, Semiconductors, and Others)} and Reusable {Glove Type (Dipped Gloves, Knitted Gloves, Supported Knitted Gloves, and Others), Protection (General purpose/Mechanical, Chemical/Liquid, and Product Protection), End-User (Machinery, Oil & Gas, Metal Fabrication, Automotive, Chemical, Construction, Plane Manufacturing, Food Processing, Office Building Cleaners, Healthcare, and Others)}: Global Opportunity Analysis and Industry Forecast, 2020-2027."According to the report, the global Industrial gloves industry was estimated at $6.9 billion in 2019, and is anticipated to hit $17.0 billion by 2027, registering a CAGR of 12.5% from 2020 to 2027.

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Drivers, restraints, and opportunities-
Safety regulations and rules, rise in demand for superior performance and comfort, and growth in healthcare and food processing industries drive the growth of the global Industrial gloves market. On the other hand, availability of local and inexpensive products, and lack of awareness regarding usage of industrial gloves impedes the growth to some extent. However, implementation of innovated technology is expected to create lucrative opportunities in the industry.

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The disposable segment to dominate by 2027-
The global industrial gloves market size is segmented into usability, material, end-user, glove type, protection and region. Based on usability, the market is categorized into disposable and reusable. The disposable segment accounted for the highest share in 2019, contributing to more than three-fifths of the total revenue, and is projected to maintain its dominant position throughout the forecast period. Moreover, this segment would manifest the largest CAGR of 13.0% from 2020 to 2027. As these gloves are resistant to solvent and are odor free that has led to increase in their usage in the food, hospital, medical devices, and pharmaceutical industries, which drives the growth of the segment.

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The semiconductor segment to retain the dominant share-
Based on end users, the disposable industrial gloves market is segment into aerospace, disk drives, flat panels, food, hospitals, medical devices, pharmaceuticals, semiconductors, and others. The semiconductors segment accounted for the maximum share in 2019, holding nearly one-fourth of the total share, and is estimated to maintain the highest share during the forecast period. This is due to increased usage of industrial gloves in the semiconductor industry owing to its properties like bad conductors of electricity and comparative stiffness with least elasticity, which protects workers hands from electric shocks while working. On the other hand, the food industry segment is estimated to portray the highest CAGR of 15.9% during the forecast period. This is due to the regulations of FDA that has made it mandatory to use gloves while preparing food as hand washing is not sufficient to prevent transmitting these pathogens.

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North America to dominate the market in 2019-
Geographically, North America held the largest share, holding nearly two-fifths of the total market share in 2019, and will maintain its dominant contribution during the forecast period. This is due to stringent regulations regarding the safety of labor and working individuals. Contrarily, the region across Asia-Pacific is expected to grow at the highest CAGR of 13.9% during the forecast period.

Key players in the industry-

    --  Top Glove Corporation Berhad
    --  Hartalega Holdings
    --  Kossan Rubber Industries Bhd
    --  Riverstone Holdings Limited
    --  Careplus Group Berhad, Supermax Corp.
    --  Ansell Healthcare
    --  SHOWA, Inc
    --  Honeywell International Inc.
    --  Semperit AG Holding

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