Pune, Sept. 08, 2020 (GLOBE NEWSWIRE) -- The global protective gloves market size is projected to reach USD 35.20 billion by 2027, exhibiting a CAGR of 11.7% during the forecast period. The heightened pace of the spread of the coronavirus pandemic will accelerate the growth of this market, observes Fortune Business Insights™ in its report, 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”.
As of August 30, 2020, the global coronavirus cases topped 25 million worldwide, with more than 840,000 people dead across the globe, according to the latest data released by Johns Hopkins University in the US. One of how the COVID-19 infection spreads is through the droplets left by infected persons on surfaces, according to the World Health Organization (WHO). Protective gloves provide adequate protection to frontline healthcare workers who are in constant contact with patients. With hospitals getting overwhelmed with the skyrocketing increase in cases, the demand for disposable protective gloves is escalating worldwide. The WHO estimates that 76 million examination gloves are required each month to support the COVID-19 response.
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The report states that the global market value stood at USD 12.37 billion in 2019 and provides the following:
- Tangible analysis of the factors driving the growth of the market;
- Piecemeal evaluation of the different market segments;
- In-depth study of the regional prospects and competitive milieu of the market; and
- Exhaustive examination of the various challenges facing the market.
Availability of Eco-friendly Gloves to Bolster Market Growth
The protective gloves market growth is expected to gather considerable momentum as the availability of eco-friendly gloves widens. Companies have been developing and launching gloves made from sustainable materials to reduce plastic pollution created by the rampant use of non-degradable protective equipment across industries. For example, Japan-based Showa Corporation developed biodegradable nitrile gloves using its proprietary Eco Best Technology to allow gloves to biodegrade in landfills. In 2018, a California-based company called Eagle Protect launched its FineTOUGH nitrile glove, which weighs 50% lesser than a regular food-handling glove, making the product easy to dispose with lower emissions. Thus, development of sustainable protective gloves for various industries is brightening the prospects of this market.
Staggering Rise in COVID Numbers in the US to Accelerate the Market in North America
The number of coronavirus cases surpassed 6 million in August 2020, precipitating an unprecedented health crisis in the country. The astronomical rise in cases is expected to surge the adoption of protective gloves in North America as this equipment is essential in ensuring safety of frontline health workers. Besides this, stringent implementation of workplace safety regulations will further foster growth of the regional market.
In 2019, the region’s market size stood at USD 4.68 billion.
In Asia Pacific, spreading awareness about occupational safety and increasing construction activities will enable the region to strengthen its position in the protective gloves market share in the coming years. Additionally, exponential spread of COVID-19 is anticipated to create booming demand for disposable gloves in the region. The main growth driver in Europe will be the rising adoption of safety gloves in the region’s chemicals manufacturing sector.
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Companies to Capitalize on Expansion Opportunities Generated by COVID
The COVID-19 pandemic has generated unique expansion opportunities for key players in this market. In response, several players are adopting strategies that can effectively enable them to deepen their foothold in the market, whilst also allowing them to support the fight against this deadly pandemic.
July 2020: Japan-based Showa Corporation partnered with the Central Association for the Blind and Visually Impaired (CABVI) to cater to the critical need for personal protective gloves in the US amid the coronavirus pandemic. Showa is presently the only manufacturer of nitrile, single-use PPE gloves in the US, serving frontline health workers across the country.
January 2020: CORDOVA SAFETY PRODUCTS expanded its OGRE product line by adding three new, cut-resistant gloves to its portfolio. Called the NEW CORDOVA-CRX™ and made from high performance polyethylene, the gloves are designed for the kind of jobs that require efficient protection from impacts and cuts as well as for providing gripping power.
List of Key Players Covered in the Protective Gloves Market Report:
- QS Safety (Shanghai, China)
- Lalan Group (Pvt) Ltd (Malwana, Sri Lanka)
- Supermax Corporation Berhad (Selangor, Malaysia)
- Showa Glove Co. (New York, U.S.)
- PIP Global (New York, U.S.)
- Globus (Shetland) Ltd. (Manchester, United Kingdom)
- Kimberly-Clark Corporation (Delaware, U.S.)
- Superior Gloves (New York, U.S.)
- Top Glove Corporation Bhd (Shah Alam, Malaysia)
- Ansell Ltd. (Melbourne, Australia)
- Jiangsu Hanvo Safety Product Co., Ltd. (Jiangsu Province, China)
- ATG- Intelligent Glove Solutions (Sri Lanka)
- Honeywell International Inc. (Charlotte, U.S.)
- Uvex Group (Fuerth, Germany)
- Kossan Rubber Industries Bhd (Kuala Lumpur, Malaysia)
- Hartalega Holdings Berhad (Kuala Lumpur, Malaysia)
- Towa Corporation (Kurume, Japan)
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