by The global Industrial Hand Protection Gloves Market is estimated to be valued at US$ 14201.83 Mn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Industrial hand protection gloves help prevent injuries to hands caused due to accidents involving sharp edges, chemicals, heat and electricity at construction sites, manufacturing units, laboratories etc. They offer protection from cuts, burns, impact, abrasions and chemicals, ensuring workplace safety.
Market key trends:
With growing industrialization and infrastructure development activities across the globe, the demand for protective equipment including industrial hand protection gloves is rising markedly. Stringent workers’ safety regulations imposed by governments and industry bodies have made the use of such protective gears mandatory at construction sites and manufacturing plants. Moreover, increasing awareness about health and safety issues has augmented the adoption of hand protection gloves. The demand has further accelerated amid the ongoing COVID-19 pandemic with gloves being a crucial part of protection kit against viruses and bacteria. Technological advancementsallowing manufacturers to develop gloves with enhanced features like cut resistance, flexibility and breathability are also fueling the market growth. The industrial hand protection gloves market has been witnessing rising demand from various industries such as manufacturing, construction, mining, chemicals, oil and gas, among others. The key trend gaining traction in the market is the growing demand for cut resistance and heat resistance gloves from industries where workers deal with sharp objects and hot surfaces. Manufacturers are focusing on developing innovative gloves with advanced materials that can provide both cut protection as well as heat protection.
SWOT Analysis
Strengths:
– Growing applications in high-risk industries drives growth
– mandate for workplace safety boosting adoption
Weaknesses:
– Availability of cheaper alternatives can hamper sales
– Requirement of product replacement weighs on margins
Opportunities:
– Untapped opportunities in developing markets
– Innovation in material technologies to drive new product development
Threats:
– Competition from local players impacting pricing
– Economic slowdowns affecting discretionary spending of end-use industries
Key Takeaways
The Global Industrial Hand Protection Gloves Market Size is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period of 2023 to 2030, due to increasing safety regulations in various industries.
Asia Pacific dominates the global market and is expected to maintain its leading position over the forecast period. Rising manufacturing activities and infrastructure development are driving the demand for industrial hand protection gloves in the region. China, India, Japan, and South Korea account for the majority of demand in the Asia Pacific industrial hand protection gloves market.
Some of the prominent players operating in the industrial hand protection gloves market are Kossan Rubber Industries Bhd, Uvex Group, 3M Company, COFRA Srl, Hartalega Holdings Berhad, MCR Safety, Top Glove Corporation Berhad, Midas Safety Inc., Protective Industrial Products, Inc., Ansell Limited, Kimberly Clark Corporation, Honeywell, and Alpha Pro Tech Limited.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
