by Industrial gloves are protective gear worn while handling equipment, products and machines in various industries such as manufacturing, construction, oil and gas, food and pharmaceuticals. Industrial gloves protect hands from chemical hazards, cuts, burns, impact injuries and infection. Different types of gloves are available based on material such as latex, nitrile, neoprene, vinyl and leather for use in diverse industrial operations. The rising industrialization and stringent workplace safety regulations have increased the demand for industrial gloves globally.
The global Industrial Gloves Market is estimated to be valued at US$ 8,053.4 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the industrial gloves market is the rising demand for cut-resistant gloves from automotive, metal fabrication and construction industries. Cut injuries are one of the most common workplace hazards faced by employees engaged in machine operation, glass handling, metalworking and similar activities. Manufacturers are developing advanced cut-resistant gloves made from materials like Kevlar and stainless steel to offer enhanced protection against sharp objects and tools. Another noteworthy trend is the growing preference for latex-free and powder-free gloves owing to allergies associated with natural rubber latex gloves. Players are introducing nitrile, neoprene and vinyl gloves without latex or powder to cater to such needs of end-users sensitive to latex proteins.
Porter’s Analysis
- Threat of new entrants: Low barriers to entry due to less regulations and certifications requirements. However, major players already have strong brand and supply chain network which acts as deterrent for new players.
- Bargaining power of buyers: High due to availability of substitute products. Buyers can easily switch to alternative gloves based on quality and price.
- Bargaining power of suppliers: Moderate as raw material suppliers have cost advantage but major players have developed long term relationships with suppliers.
- Threat of new substitutes: Moderate threat from substitute products like cloth or rubber gloves. However, industrial gloves have distinct advantages of high dexterity, durability and protection.
- Competitive rivalry: Intense competition among existing players to gain market share. Major players differentiate based on product innovation, quality and customer service.
Key Takeaways
The global Industrial Gloves market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing safety regulations at workplaces and growing demand from healthcare and automotive industry.
Regional analysis North America dominates the industrial gloves market currently, owing to stringent worker safety regulations in countries like United States and Canada. Asia Pacific is expected to witness fastest growth due to rising manufacturing activity in major economies like China and India.
Key players operating in the industrial gloves market are Top Gloves, Honeywell Safety Products, 3M Corporation, Ansell, Showa Group, Corolina Glove & Safety Company, Superior Gloves, Southern Gloves Inc., UVEX Safety Group, Longcane Industries, Shangdong Yuyuan Latex Gloves, Marvel Glove Industries, and Kanam Latex Industries Pvt. Ltd. Top Gloves and Honeywell are the market leaders due to their diverse product portfolio and widespread distribution network.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
