Protective Gloves Market worth $ 35.20 billion by 2027; Honeywell and 3M Cover Notable Actions Through Collaborative Efforts, According to Fortune Business Insights ™ | Zoom Fintech
Pune, India, February 02, 2021 (GLOBE NEWSWIRE) – The global protective gloves market size is expected to benefit from the rapid growth of various sectors such as food processing, oil and gas, healthcare, chemicals and production facilities. These gloves help to minimize occupational hazards from various factors and are a necessity in many industries. A report released by Fortune Business Insights estimates that the market will grow at a CAGR of 11.7% between 2020 and 2027. The market was $ 12.37 billion in 2019 and is expected to reach $ 35.20 billion by the end of 2027.
The world is going through a major economic crisis due to the increase COVID-19 pandemic. The health sector is facing a major crisis as the number of coronavirus positive patients exceeds the number of beds available in hospitals and medical centers. Most businesses are temporarily shut down, and those that do manage to work from home are barely able to survive the rough waters.
Main drivers and constraints:
Growing application by food and beverage industry to drive growth
Population growth rate and rapid growth of various industrial setups such as manufacturing industries, food processing, chemicals, oil and gas are the key factors propelling the growth of the global protective gloves market. In addition to this, the advent of technological advancements in various industries will help boost the growth of the market.
On the contrary, factors like skin issues namely rashes, allergies and others related to the continued use of protective gloves for a long time may hinder the growth of the market during the forecast period. .
Nonetheless, the current coronavirus pandemic has propelled the imposition of strict regulations by governments on the safety and security of employees. These are likely to create lucrative future growth opportunities for the market in the long run.
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List of the best players featured in The protective gloves market includes:
- Jiangsu Hanvo Safety Product Co., Ltd. (Jiangsu province, China)
- Huihong (NANTONG) Safety Products Co., Ltd (Shanghai, China)
- QS Safety (Shanghai, China)
- Hartalega Holdings Berhad (Kuala Lumpur, Malaysia)
- Lalan Group (Pvt) Ltd (Malwana, Sri Lanka)
- 3M (Minnesota, United States)
- Supermax Corporation Berhad (Selangor, Malaysia)
- Kossan Rubber Industries Bhd (Kuala Lumpur, Malaysia)
- Showa Glove Co. (New York, USA)
- DIPPED PRODUCTS PLC (Colombo, Sri Lanka)
- PIP Global (New York, United States)
- Uvex Group (Fuerth, Germany)
- Globus (Shetland) Ltd. (Manchester, United Kingdom)
- Honeywell International Inc. (Charlotte, United States)
- Kimberly-Clark Corporation (Delaware, United States)
- Towa Corporation (Kurume, Japan)
- Upper gloves (New York, USA)
- ATG- Intelligent Glove Solutions (Sri Lanka)
- Ansell Ltd. (Melbourne, Australia)
- Top Glove Corporation Bhd (Shah Alam, Malaysia)
The healthcare and medicine segment got the largest share attributed to the increasing use of medical and surgical gloves
The global protective gloves market was dominated by the healthcare and medical sector in 2019. This is attributed to the emergence of the COVID-19 pandemic and the increasing use of medical and surgical gloves among healthcare workers. However, the construction segment gained 19.5% in terms of share from 2019 and is expected to show significant growth in the coming years due to increasing infrastructure development, especially in developing countries.
Market dominated by North America due to strict government regulations on the use of gloves and masks
Regionally, North America achieved a turnover of 4.68 billion USD in 2019 and has become dominant due to the growing awareness of the importance of health and strict taxes on the use of protective products such as masks, disinfectants, gloves and others. In addition, the growing epidemic of pandemics such as Ebola, Swine Flu, Coronavirus and others are expected to contribute to the expansion of the regional market in the coming years.
On the other hand, the Asia-Pacific region market will show notable growth due to the increasing price of raw materials, increased awareness of maintaining workplace safety measures and improving health sector infrastructure and facilities.
Browse the summary of this research report with a detailed table of contents:
Companies forming strategic alliances to maintain a solid presence
The competitive landscape of the Global Protective Gloves Market is fragmented in nature due to the presence of numerous players. The top five companies with significant market shares are Honeywell International, Top Glove, Hartalega, Ansell and 3M. The key strategies adopted by these players include partnerships, contracts and agreements, as well as new product launches. The other companies operating in the market of these gloves engage in the research and development of durable and recyclable gloves to gain a competitive advantage in the market.
Answer to the key question:
• Professional opportunities
• Business challenges
• Demand overview
• TCCA values
• Historical analysis
• Detailed segmentation
• Data on the best companies
• Market size
• Supply trend
• Target audience
• Key geographic areas
The main industry developments of this market are:
February 2019 – A safety protection company called Ansell Limited has adopted Ringers gloves for employers working in the general and oil and gas industries to strengthen its position.
October 2019 – Riverstone Holdings Limited and Showa Glove Co. have entered into a collaboration agreement for the manufacture of cleanroom gloves. The main objective of this partnership is to expand their portfolios in the glove manufacturing market..
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