Industrial Gloves Market Size, Share, Growth, Trends, Analysis and Forecast To 2025 | Credence Research
July 11, 2019 by Johnson Paul
According to a new market report published by Credence Research, Inc., “Industrial Gloves Market (By Product Type (Disposable Gloves, Re-usable Gloves), By End-use Application (Healthcare & Pharma, Oil & Gas and Chemicals, Food & Beverage, Industrial Manufacturing, Construction, Semiconductor, and Others), By Material (Natural Rubber, Vinyl, Nitrite, Neoprene, Polyethylene, and Others)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2017 – 2025”, the global industrial gloves market is expected to expand at a compound annual growth rate of 9.3% during the forecast period 2017 – 2025.
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Compliance with stringent safety standards and directives is identified as one of the most influential factors driving growth of the industrial gloves market worldwide. Some of the directives contributing towards market demand include OSHA (Occupational Safety and Health Act), National Fire Protection Association (NFPA), and American Society for Testing and Materials (ASTM). The use of industrial gloves reduces the risk of hand injury to work personnel and thus wearing gloves is considered as one of the cheapest and most effective injury prevention method. In addition, resurgence in the manufacturing sector after dwindling market conditions that was prevalent during economic instability is further fueling market momentum.
As of 2015, natural rubber was the most preferred raw material used for making industrial gloves. The trend is presumed to continue as it will continue to be the most preferred material by 2025. The growth can be majorly credited to their extensive application in industrial manufacturing, healthcare, and pharmaceutical sectors. Benefits offered by the rubber in terms of elasticity and form fitting makes them preferred options to be used in these sectors. Similarly, based on product type, the global market for industrial gloves was led by disposable gloves. Low-cost coupled with greater replacement demand is the key factor driving sales of disposable industrial gloves.
The global industrial gloves market is relatively matured but competitive. The market includes good mix of both well-established international and regional/domestic manufacturers. Since the number of domestic and international suppliers of basic raw materials (natural rubber, vinyl, etc.) is high, the manufacturers are not dependent on a single supplier and form strong partnerships with several suppliers to ensure continual supply of raw materials. The switching cost of manufacturers from one supplier to another is low due to less differentiation in the prices offered by the suppliers. Additionally, manufacturers also strive to maintain good association with end-customers and try and win big contracts. Manufacturers across the globe are focusing on strengthening their marketing and distribution channel to improve their reach and product position in the market. Manufacturers compete on the basis of price, branding, and product quality. Some of the leading players identified in the research study include
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