Industrial Safety Gloves Market to earn lucrative gains via automotive applications over 2016-2023, APAC to be a major revenue pocket
Industrial Safety Gloves Market is slated to witness a tremendous expansion, subject to the regulatory compliance regarding worker safety and health in hazardous working environments. With a rapid surge of industrialization, professional sectors such as manufacturing, automotive, and semiconductors have been adopting advanced machinery, many of which are likely to cause harm while operations. To combat these dangers at the worksite, the government has mandated norms to use safety wearables, which will stimulate industrial safety gloves market. In 1990, the ASTM (American Society for Testing and Materials) and NFPA (National Fire Protection Association had already introduced regulation regarding worker’s safety and health. Similar other organizations have been following the trend, which will augment the business expansion. According to Global Market Insights, Inc., “Industrial safety gloves market generated a revenue of USD 4 billion in 2015, and is projected to exhibit a CAGR of 6.5% over the period of 2016 to 2023.”
U.S. Industrial Safety Gloves Market size, by material, 2012-2023 (USD Million)
Industrial safety gloves find applications across the chemical, automotive, machinery, construction, metal fabrication, food processing, healthcare, aviation, semiconductor, medical devices, flat panels, pharmaceutical, and oil & gas sectors. Semiconductor application segment collected a revenue of USD 320 million in 2015 and will register considerable growth rate over the years ahead, subject to the product’s usage to prevent fingerprints and surface contamination.
Reusables and disposables are the main products of industrial safety gloves industry. Reusable products are further divided into dipped, supported knitted, and knitted products, Industrial safety gloves industry size from supported knitted products was worth more than USD 1.2 billion in 2015 and will exhibit significant revenue over the coming timeframe. This product is extensively used across the construction, automotive, warehousing, general purpose, and timber handling sectors.
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Industrial safety gloves market size from automotive applications is slated to record an annual growth rate of more than 7% over the period of 2016 to 2023, driven by the product’s requirement for repair and maintenance activities. Additionally, escalating expansion of automobile sector across various countries such as India, China, Germany, and UK will fuel the market trends. Europe industrial safety gloves market is slated to grow at an annual growth rate of more than 5.5% over the period of 2016 to 2023. Implementation of stringent worker safety norms across this region will propel the regional industry share. Germany, France, and UK will contribute significantly toward the Europe industrial safety gloves industry growth.
Cut gloves, a sub-segment of disposable products, will register an annual growth rate of more than 6.5% over the coming years of 2016 to 2023, owing to the prominent use of the product to protect arms and hands in hazardous work environments. They are also used to protect workers from cuts and abrasions in the shipping, construction, metal, and glass industries, which will boost industrial safety gloves industry size noticeably.
Considering the geographical landscape, Asia Pacific industrial safety gloves industry will record considerable CAGR over the coming six years. Japan, China, India, and South Korea will be the major revenue contributors.
U.S. industrial safety gloves market share, having had a revenue of USD 980 million in 2015, will collect noticeable revenue over the years ahead. The growth can be attributed to the surging investment in construction activities, growing industrialization, adoption of safety norms, and increasing awareness regarding hygiene and safety.
The notable participants in industrial safety gloves market are Top Glove, Supermax Corporation, Ansell, Kossan, Hartalega, MCR Safety, Latexx Partners Berhad, Rubberex Corporation, RFB Latex Ltd, Honeywell, Acme Safety, and Towa Corporation.
Author Name :Sunil Hebbalkar