Hand Protection Industry Data Book Covers Disposable Gloves, Disposable Medical Gloves, Nitrile Gloves, Rubber Gloves and Nonwoven Disposable Gloves Markets.
The economic value generated by the hand protection equipment markets was estimated at approximately USD 23.8 billion in 2022.
Disposable Gloves Market Growth & Trends
The global disposable gloves market size is expected to reach USD 16.12 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.8% from 2022 to 2030. The high prevalence of the COVID-19 pandemic, particularly in North America and Asia Pacific, is projected to augment the demand for disposable gloves. The COVID-19 pandemic had boosted the demand for disposable gloves, which strained the supply chain, thus creating a shortage in the market. Furthermore, disposable glove manufacturers are expanding their production capacities to meet the growing demand, thereby improving the global supply chain over the past few months.
The rising awareness regarding employee health and safety, along with the increasing industrial fatalities in the emerging economies, is projected to boost the market growth over the forecast period. Technological advancement, coupled with the growing consumer need for disposable gloves in medical operations, is anticipated to complement the market growth. Distributors play a vital role in the market as the product manufacturers are dependent on the distributors to get their products to consumers. Globalization and consolidation of gloves manufacturers are anticipated to have a significant impact on the distributors, which is projected to compel them to broaden their horizons and look beyond the traditional boundaries.
Companies such as Ansell Ltd. and Kimberley-Clark Corporation are carrying out strategic acquisitions, taking advantage of the ongoing COVID-19 pandemic situation. These acquisitions are expected to strengthen these companies’ position in the distribution network in the U.S. and India and extend their product portfolio and sales force to gain a competitive edge over their rivals. The pandemic has prompted market players to rethink their supply chains leading to increased instances of relocating or setting up additional manufacturing facilities in the country where the company is based in order to avoid future bottlenecks. For instance, companies such as Showa Group based in the U.S. are expected to triple their production of nitrile gloves by 2022.
Disposable Medical Gloves Market Growth & Trends
The global disposable medical gloves market size is anticipated to reach USD 11.61 billion by 2030, registering a CAGR of 5.3% over the forecast period, according to a new report by Grand View Research, Inc. The global market is primarily driven by the increasing prevalence of infectious diseases and viral outbreaks coupled with increasing rising expenditure. Factors, such as growing investments in both public & private sectors, an increasing geriatric population, and a high influx of migrants coupled with the increasing healthcare expenditure are expected to boost the healthcare industry growth, which, in turn, will boost the product demand. The adoption of novel practices in the healthcare & medical settings and the development of better medical care products & technologies are projected to drive the demand for healthcare services and the need for modern medical infrastructure.
This, in turn, will drive the market over the years to come. Due to the COVID-19 pandemic, many players adopted automation. The use of robotics in the manufacturing of gloves and other processes, such as packaging and counting, are emerging in the market. For instance, Doka Industrial Automation designed a machine to automate the process from manufacturing to the packaging of gloves. The resurgence of the COVID-19 is expected to increase hospital visits and boost the product demand. Companies are undertaking strategic investments to strengthen their product portfolio. For instance, in March 2021, Hartalega Holdings Berhad bought land in Kedah from Northern Gateway Free Zone Sdn Bhd of 250 acres for USD 55.4 million to expand its manufacturing operations of gloves.
Nitrile Gloves Market Growth & Trends
The global nitrile gloves market size is anticipated to reach USD 10.19 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 5.7% from 2023 to 2030. The industry is primarily driven by rising healthcare expenditures, the growing importance of safety at workplaces, and a significant surge in protective equipment demand during the COVID-19 pandemic.
Increasing awareness among industry participants regarding the importance of worker safety and security at workplaces, on account of the stringent regulations and high costs associated with workplace hazards, is anticipated to drive market growth. The importance of worker safety has significantly increased owing to the increasing employment in industries across Asia Pacific. The rapid spread of the COVID-19 pandemic is anticipated to increase the demand for nitrile gloves among frontline healthcare workers for testing and examination purposes.
In addition, nitrile gloves have witnessed a substantial increase in demand in the healthcare industry on account of their necessity in various other healthcare and medical applications. Increasing requirement of hand protective equipment by healthcare professionals during the COVID-19 pandemic in 2020 has boosted the demand for nitrile gloves across the globe. Hence, manufacturers such as Top Glove Corporation Bhd and Kossan Rubber Industries Bhd had to increase their manufacturing capacity to match global demand.
Access the Global Hand Protection Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory & technological framework studies
