Industrial Gloves Market Size to Reach Revenues of $14.8 billion by 2027
Pune,Maharashtra, India,Nov 17 2020 (WiredRelease) Allied Analytics–:According to the report published by Allied Market Research, the global industrial gloves industry generated $6.9 billion in 2019, and is estimated to reach $14.8 billion by 2027, registering a CAGR of 10.4% from 2020 to 2027. The report offers a comprehensive analysis of changing market dynamics, key segments, Porter’s Five Forces, market size, business performance, , and competitive landscape.
Strict rules & regulations imposed by governments, surge in demand for comfort & better performance, and growth of the food processing & healthcare sectors propel the global industrial gloves market growth. However, presence of local & cost-effective products and lack of awareness regarding industrial gloves utilization hinder the market growth. On the other hand, advent of innovative technologies presents new pathways in the coming years.
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Major health organizations such as WHO, FDA, and CDC have released safety protocols regarding usage of gloves in various industries during the Covid-19 crisis.The global demand of disposable gloves for medical applications has experienced a sharp rise during the pandemic, especially from Europe and the U.S.Highest safety precautions and strict measures regarding utilization of gloves in the food and beverage industry have been taken during food preparation, service, and delivery as lockdown eases off and permissions to begin operations have been given.
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Based on usability, the disposable segment held the highest share in 2019, accounting for more than three-fifths of the total market share, and is estimated to continue its dominance during the forecast period. Moreover, this segment is estimated to portray the highest CAGR of 10.9% from 2020 to 2027. The report also analyzes the reusable segment.
Based on end users of disposable industrial gloves, the semiconductors segment contributed to the highest share in 2019, accounting for nearly one-fourth of the total share, and is expected to maintain the highest contribution during the forecast period. However, the food industry segment is expected to portray the highest CAGR of 13.8% during the forecast period.
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Geographically, North America held the largest market share, contributing to nearly two-fifths of the total market share in 2019, and will maintain its lead position during the forecast period. However, Asia-Pacific is estimated to witness at the largest CAGR of 11.8% from 2020 to 2027.
Key market players analyzed in the global industrial gloves market include Top Glove Corporation Berhad, Kossan Rubber Industries Bhd, Hartalega Holdings, Careplus Group Berhad, Riverstone Holdings Limited, Ansell Healthcare, Supermax Corp., Honeywell International Inc., SHOWA, Inc., and Semperit AG Holding.
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