The Global Industrial Hand Protection Gloves Market Is Driven By Stringent Worker Safety Regulations
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| Industrial Hand Protection Gloves Market |
The
industrial hand protection gloves are increasingly popular among industrial
workers and manufacturing employees as they help prevent hand injuries and reduce
industrial accidents. Industrial hand protection gloves are primarily used
across manufacturing, construction, chemical, automotive, electronics and other
industries to protect hands from mechanical and minor injuries including
abrasions, cuts, punctures as well as thermal, electrical and chemical burns.
Common types of industrial gloves include reusable gloves made of leather,
rubber, nitrile or Kevlar and disposable gloves made of latex or plastic that
offer protection from chemicals, oils and industrial residues. Safety gloves
not only protect hands at work but also boost worker productivity by preventing
injuries that could result in time off from work or medical costs.
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 9.1%
over the forecast period 2023 to 2030,
as highlighted in a new report published by Coherent Market Insights.
Market key trends:
There
is increasing demand for cut-resistant and puncture-resistant gloves made with
advanced materials like Kevlar or steel mesh to provide added layer of safety
for jobs involving sharp metals, glazes or industrial machines. Manufacturers
are developing dual-layer gloves using different materials in palm and back
such asnitrile on the palm for flexibility and Kevlar on the back for puncture
resistance.The industrial hand protection gloves market is witnessing rise in
demand for gloves made of breathable and waterproof fabrics to keep hands dry
and cool in wet work environments. This has spurred innovation in fabric and
material technologies used in safety gloves.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the
industrial hand protection gloves market needs development of manufacturing
facilities and distribution channels which requires high capital investments.
Bargaining power of buyers: The bargaining power of buyers is high as there are
many established players providing a variety of gloves at competitive prices in
the market. Buyers can easily switch between brands.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as
raw material suppliers have established presence but industry players have
options to switch to alternate suppliers in case of unfair demand of price
rise.
Threat of new substitutes: The threat of new substitutes is low as there are
limited product alternatives that can provide the required protection, grip and
comfort level as gloves.
Competitive rivalry: The market competition is high among the top players to
increase their market share through differentiated product portfolio, quality,
and marketing strategies.
Key Takeaways
The Global
Industrial Hand Protection Gloves Market Size is expected to witness
high growth. 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 9.1%
over the forecast period 2023 to 2030.
North
America currently dominates the market owing to stringent worker safety
regulations in different industries such as automotive, healthcare,
construction etc. in the region. Europe is expected to grow at a significant
rate during the forecast period. This is attributed to presence of major
automotive companies driving the demand for hand protection gloves in the
region. Stringent worker safety regulations are also supporting the regional
market growth.
Key players: Key players operating in the Industrial Hand Protection Gloves
market are Burcon Nutrascience, Cosucra Groupe Warcoing, Nutri Pea Limited,
Sotexpro, Roquette Freres, Glanbia Plc., Fenchem Biotek Ltd., Prinova Group
LLC, and Yantai Shuangta Food Co. Burcon Nutrascience has strong focus on
developing nutritious and sustainable protein ingredients.
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