Global Market Insights, Inc. has launched a report on Industrial Safety Gloves Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Increasing awareness among the business owners about worker’s safety coupled with stringent regulations to prevent occupational hazards will drive industrial safety gloves market. In 2016, the U.S. Department of Labor and Bureau of Labor Statistics stated that nearly 2.9 million workplace injuries and illness have been reported due to improper utilization of personal protective equipment. Industrialist are expected to implement precautionary measures to reduce such incidents, thereby fostering product demand.
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Occupational accidents result in huge losses in terms of lives, reimbursement to families, infrastructure damages, work disturbance and legal issues. Manufacturers have comprehended the negative impacts of these occurrences on the manufacturing process as well as the company’s reputation. This will garner higher spending on personal protective equipment, thus supplementing industrial safety gloves market growth.
Stringent standards set by regulatory bodies such as OSHA, EU, American National Standard for Hand Protection (ANSHP) will encourage manufacturers to adopt protective measures to improve worker safety. In addition, hand protection also offers dual benefit of protection from hazards and preventing commodities from contaminants, which in turn, augments product application scope.
Product segmentation: The report claims that the Product landscape of the Industrial Safety Gloves Market is subdivided into –
Industrial Safety Gloves Market, By Product
- Cut protection
- Oil repellent
- Chemical & liquid protection
- Chemical solutions
- Single use / disposable
- Special protection
Important pointers encompassed pertaining to the Product spectrum:
- Major details about the Product spectrum are provided in the report.
- The study elaborates on the remuneration forecast of each of the Product categories by the end of the anticipated duration.
- The market share which each of the Product segments account are mentioned in the study.
- Also, the most proliferating trends that the Product spectrum is characterized by are also entailed.
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Natural rubber held the largest share in material segment accounting over 46% volume share in 2017. It offers resistance against most acids, chlorine, formaldehyde & bases along with high durability, dexterity, fit and comfort. The product is also biodegradable, which makes them an environmentally friendly and cost-effective option, thereby fostering industrial safety gloves market over the forecast timeline.
Nitrile gloves are estimated to grow at 6.6% CAGR up to 2024. The product offers exceptional chemical resistance, tactile sensitivity, dexterity, comfort and puncture resistance when compared to vinyl and rubber material. Increasing necessity to maintain hygienic conditions in critical environment and prevent the risk of chemical, microbial & bacterial contamination will bolster industrial safety gloves market.
Automotive is estimated to be the largest application and was valued at over USD 1.5 Billion in 2017. Rapid expansion of automotive industry in developing economies including China, Brazil and South Africa owing to favorable macroeconomic conditions will enhance product sales over the forecast period. Extensive use in body painting, press shop operations, assembling operations and dexterity applications will provide strong business outlook for manufacturers.
Regional segmentation: The study claims that the Regional landscape of the Industrial Safety Gloves Market is subdivided into –
- North America
- Asia Pacific
- Latin America
Important pointers encompassed pertaining to the Regional spectrum:
- The study is inclusive of significant data pertaining to the Regional
- The report encompasses the revenue forecast details of the Regional segments categories by the end of the anticipate duration.
- The market share which each of the Regional segments account for are mentioned in the study.
- Also, the most proliferating trends that the Regional spectrum is characterized by are also entailed.
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North America industrial safety gloves market accounted for over 35% share in 2017. Strong presence of large-scale industries such as automotive, chemical, machinery & equipment will drive regional growth. Moreover, the stringent regulations implemented by the regional regulatory bodies such as OSHA, ANSHP on occupational safety will encourage product adoption rate.
The global industrial safety gloves market is highly fragmented owing to the presence of both regional and multinational players. Top Glove Corporation Bhd, Ansell Limited, Riverstone Holdings Limited Rubberex (M) Sdn Bhd and Honeywell International are among the major manufacturers in the business. Include Mergers & acquisition, product development, capacity expansions and collaborations are key strategies adopted by the market players to gain market share. For instance, in April 2018, Top Glove Corporation Bhd completed the acquisition of Aspion Sdn Bhd, a Malaysian glove manufacturer.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.