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The global protective gloves market size is predicted to reach USD 33.26 billion by 2029. Fortune Business InsightsTM in its report titled, “Protective Gloves Market Size, Share & COVID-19 Impact Analysis, By Product (Disposable and Durable), By Raw Material (Natural Rubber 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, 2022-2029”, observes that the market size stood at USD 21.39 billion in 2021 and USD 24.20 billion in 2022, and is expected to exhibit a CAGR of 4.6% between 2022 and 2029. The growing workplace safety regulations across developing and developed countries are anticipated to create lucrative growth opportunities for the market.
The swift spread of the coronavirus pandemic has created an increased demand for protective gloves. The demand for personal protective equipment such as disposable gloves rose during the pandemic, which has amplified the market’s growth. The increasing awareness for disease prevention in the healthcare sector and patient well-being is likely to boost the market’s growth in the coming years.
Ansell Limited’s Acquisition of 50% of Issued Shares of Careplus (M) Sdn Bhd to Incite Development
In February 2020, Ansell Limited completed the acquisition of half of Careplus (M) Sdn Bhd’s issued shares from Careplus Group Berhad, a Malaysian medical gloves manufacturer, for approximately USD 9 million. The joint venture is aimed to expand Ansell Limited’s expand its business portfolio and enter the surgical gloves business. The company aims to fulfill the globally ever-increasing demand for surgical gloves.
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Swiftly Increasing Workplace Safety Regulations to Stimulate Market Growth
The growing stringent regulatory norms across Europe and U.S., particularly in the manufacturing industry, are expected to stimulate significant growth for the market. The surging workplace safety regulations and the expanding working population across manufacturing, food processing, oil & gas, healthcare, and chemical industries are anticipated to be major propellants for protective gloves market growth.
Key Players Adopt Ingenious Strategies to Amplify their Growth Prospects
The highly competitive and fragmented marketplace comprises several international and regional players such as 3M, Honeywell International, Top Glove, Ansell, and others. The major market players adopt various growth strategies such as new product launches, joint ventures, alliances, partnerships, acquisitions, and others to amplify their growth prospects. For instance, KOSSAN Rubber Industries Bhd donated nearly two million pieces of medical gloves in March 2020 to support the Malaysian authorities in the fight against the coronavirus outbreak.
List of Key Market Players-
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Table of Segmentation-
By Product, Raw Material, Application, and Region
Value (USD Billion)
By Raw Material