May 22, 2024

Industrial Gloves Market is Expected to be Flourished by Growing Manual Labour and Construction Industry

Industrial gloves are personal protective equipment that protects the hands during activities that involve potential hazards. These gloves shield hands from mechanical, thermal, chemical, and microbiological risks. Industrial gloves find wide applications in various industries such as automotive, manufacturing, construction, food & beverages, chemicals, healthcare, and others. Growing manual labour and construction industry is expected to drive demand for industrial gloves in the coming years. Industrial gloves help protect workers’ hands from cuts, abrasions, chemical exposure, extreme temperatures, and germs in these industries.

The global industrial gloves market is estimated to be valued at US$ 8,053 million in 2024 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 Dynamics:

Growing manual labour and construction industry is expected to drive demand for industrial gloves in the coming years. With growing construction of residential and commercial infrastructure, there has been significant rise in manual labour employed at construction sites which has increased the risk of hand injuries. Industrial gloves provide essential protection to workers’ hands and help reduce incidence of accidents. Furthermore, stringent worker safety regulations in developed regions pertaining to use of personal protective equipment is also expected to boost the industrial gloves market growth over the forecast period. However, availability of low-cost alternatives continues to hamper the industry growth to some extent.

Segment Analysis

The industrial gloves market is dominated by the chemical segment. Chemical gloves account for over 35% of the overall market share owing to stringent occupational safety regulations regarding the use of protective equipment in the chemical industry. Chemicals can cause harm to skin on direct contact. Thus, chemical gloves provide an essential barrier between hazardous chemicals and the skin of workers.

Pest Analysis

1. Political: Governments across countries are implementing stringent worker safety standards and regulations to minimize workplace hazards. Europe has some of the most robust worker safety laws boosting demand for protective gloves.

2. Economic: The global economic recovery post-pandemic has increased manufacturing and industrial activity driving demand. However, inflationary pressures and higher input costs pose challenges.

3. Social: Growing awareness about workplace safety and hazards of chemicals and other materials on skin is promoting use of protective gloves. However, availability and affordability remain issues in developing economies.

4. Technological: Manufacturers are focusing on developing gloves with enhanced breathability, flexibility and tactile sensitivity without compromising on protection. Advanced materials and new coating technologies further improve product functionality.

Key Takeaways

The global industrial gloves market is expected to witness high growth over the forecast period supported by economic recovery and increased safety awareness. The market size is projected to reach a value of US$ 8,053 million by 2024 registering a CAGR of 6.9% during 2023-2030.

Regional analysis
Asia Pacific dominates the global market and is expected to maintain its lead through the forecast period. Growing industrialization and manufacturing output in countries like China and India has augmented demand. Stringent worker safety regulations coupled with large workforce also contribute to market growth in the region.

Key players
Key players operating in the industrial gloves market include Ansell Limited, Top Glove Corporation Bhd, Honeywell International Inc., Hartalega Holdings Berhad and Kossan Rubber Industries Bhd. These players have a strong global presence and focus on developing innovative product lines to tap emerging opportunities.