Transparency Market Research (TMR) in its latest report reveals that the global chemical protective gloves market is set to exhibit a CAGR of 4.6% from 2017 to 2026 and reach a valuation of US$ 3,641.8 Mn. Increasing efforts to improve worker safety in manufacturing facilities and factories is likely to influence the global chemical protective gloves market during the forecast period (2017-2026). Demand for chemical protective gloves has been witnessing an uptrend due to introduction of worker safety policies in emerging. Therefore, manufacturing facilities in these countries are now bound to increasing their worker safety standards or else risk being charged for regulatory violation.
Chemical protective gloves find a ton of application, they are used in industries such as manufacturing, construction, pharmaceutical, agriculture and oil & gas among other. Such gloves are extremely important in high-risk working environment, chemical protective gloves can significantly reduce the impact of exposure of hand to harmful chemicals. Also, worker injuries and illness is a major concern for both private sector and public sector. The U.S department of labour stated that there were 1,153,490 days-away-from-work cases in private industry, state government, and local government in 2015. Hand injuries or illnesses is one of the major reasons for days-away-from-work. In order to curb such time-loss and injury frequency rate, manufacturing facilities are upgrading their worker safety model. Moreover, government is developing countries are stepping up efforts to spread awareness about worker safety. The worker safety regulation are moderate in third world countries, hence, worker are at a higher risk of picking up injuries. The increased level of awareness among people towards health and safety at work in both developed and developing countries is also expected to drive the global sales of chemical protective gloves in the years to follow.
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North America will remain a Major Market for Chemical Protective Gloves Over 2026
Demand for chemical protective gloves is expected to remain high in North America in 2018 and beyond. In terms of revenue, the region is expected to dominate the global chemical protective gloves market throughout the assessment period. The market in the region is expected to witness a steady CAGR of 4% between 2017 and 2026. This is primarily owing to presence of a well-defined worker safety regulatory landscape, which ensures adherence to safety standards of the highest level.
Nitrile Gloves a Top Selling Product Type
Preference for nitrile gloves will continue to remain strong during the foreseeable period. This is primarily due to their superior resistance as compared to other type of clubs. Nitrile gloves have greater resistance to acids, oils and chemicals. Currently, global sales of nitrile gloves represent for more than 45% revenue share of the global chemical protective gloves market. By 2026-end, around US$ 1,879.9 Mn worth nitrile gloves are expected to be sold worldwide.
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Manufacturing a Leading Application Segment
Use of chemical protective gloves is expected to remain significantly high in the manufacturing sector. Workers are exposed to various types of risks in manufacturing plants, hence, self-protection gears such as protective gloves are crucial. In 2017, over US$ 500 Mn worth chemical protective gloves were sold in the manufacturing industry.
Competitive Landscape
Leading players operating in the global chemical protective gloves market include 3M Co, E I Du Pont De Nemours and Co., Honeywell International Inc., Ansell Limited, Avon Rubber Plc., Msa Safety Inc., Uvex Safety Group, Grainger, Inc, Bullard, Kimberly-Clark.
Rising Concerns about Employee Safety to Accelerate Growth Opportunities across Chemical Protective Gloves Market
The chemical protective gloves market is expected to gain considerable growth across the forecast period of 2017-2026. The growing concerns about employee safety across a large number of industries and applications will serve as a promising growth factor for the chemical protective gloves market. The stringent labor and workforce laws in place across numerous countries will also help in boosting the growth of the chemical protective gloves market.
- Chemical protective gloves are specially designed gloves. These gloves are created for guarding the hands against harmful chemicals and are significant in high-risk working environments. The benefits etched to these gloves will help in adding extra stars of growth. The rising awareness among many people regarding the hazardous effects of chemical exposure will further bring profitable growth opportunities for the chemical protective gloves market.
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- Manufacturers in the chemical protective gloves market are trying to develop novel formulations that are beneficial for upgrading the quality and convenience quotient of the gloves. Research and development activities play a crucial role in discovering these formulations. All these factors bring good growth opportunities for the chemical protective gloves market. Activities like mergers and acquisitions help in cementing the foothold of the players in the chemical protective gloves market, eventually increasing the growth rate.
- The COVID-19 pandemic has burnt a large hole in the growth prospects of almost all sectors and businesses. The chemical protective gloves market is no stranger to this loss. The strict lockdown impositions by various countries led to the shutting down of production units and manufacturing facilities. These factors damaged the growth prospects across the chemical protective gloves market.
- The governments of numerous countries, after a brief period, announced certain restrictions that allowed resuming of operations at production units. These aspects helped the players in the chemical protective gloves market to revive lost growth.
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