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The global protective gloves market size is expected to hit USD 35.20 billion by 2027 attributable to the increasing prevalence of various pandemics such as swine flu, coronavirus, Ebola virus, as well as the rising importance of personal safety. A recent report by Fortune Business Insights, titled, “Protective Gloves Market Size, Share & COVID-19 Impact Analysis, By Product (Disposable Gloves, and Durable Gloves), By Raw Material (Natural Rubber Gloves, Aramid Fiber Gloves, Nitrile Gloves, Neoprene Gloves, Polyurethane, Vinyl (PVC) Gloves, and Leather Gloves), By Application (Healthcare & Medical, Manufacturing, Construction, Food & Beverages, Oil & Gas, Mining, and Others), and Regional Forecast, 2020-2027,” states that the value of this market was USD 12.37 billion in 2019 and is expected to rise at a CAGR of 11.7% between 2020 and 2027.
Kossan Rubber Industries Bhd Gave Away Medical Gloves in Charity, Setting New Marks
Youasan Kossan declared the donation of two million pieces of medical gloves to workers in various industries in Malaysia. The main objective behind this charity is to ensure the safety of workers and fight back coronavirus. Youasan Kossan has been donating its products, namely, Shirudo 7th Sense and Shirudo Confidenz nitrile gloves to various departments such as Malaysian Armed Forces, Marine Police Force, National Disaster Management Agency (NADMA), Klang and Shah Alam Municipal Councils, among others. These gloves are also being donated to the medical centres such as Hospital Tengku Ampuan Rahimah, dialysis centres, and old age homes. This charity will help Yayasan Kossan increase the popularity of its products in the market, therefore creating lucrative growth opportunities for the market in the coming years.
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Imposition of Stringent Rules on Use of Safety Gears to Prevent Infection will Add Impetus
The increasing population and the rising importance of workers’ safety in various industries such as food processing, healthcare, oil & gas, chemical, and others are the key factors boosting the global protective gloves market growth. In addition to this, the imposition of stringent regulations based on the safety and protection to prevent the spread of infections such as coronavirus, and other pandemics is also increasing the demand for protective gloves in the market.
On the contrary, the continuous use of protective gloves may result in skin issues such as irritation, rashes, and others, thereby causing hindrance to the market growth in the coming years. Despite that, continuous investments in the production of skin-friendly gloves made of latex and other raw materials are likely to create lucrative growth opportunities for the market in the long run.
Adoption of Collaborative Strategies by Players will Intensify Competition
The global market for protective gloves is highly fragmented on account of the presence of small, medium, and large companies. However, five major companies, namely, Honeywell International, Ansell, Hartalega, 3M, and Top Glove are holding significant share in the market owing to their extended geographical expansions and diverse portfolios. The other players are engaging in joint ventures, partnerships, and more collaborative agreements to gain a competitive edge in the market in the forecast years.
Major Industry Developments of Protective Gloves Market include:
List of Significant Players in this Market include:
Further Report Findings
The Global Market for Protective Gloves is categorized into:
Value (USD Billion)
By Raw Material