Report charts factors fuelling global safety gloves' growth

Wednesday, 03 February, 2021 | Supplied by: Persistence Market Research

The rising number of industrial injuries has driven the growth of the global safety gloves market, with 70% of workplace or industrial injuries involving workers who do not wear safety gloves. The remaining people injured used gloves that were either improper or damaged, thereby illustrating the importance of safety gloves and personal protective equipment (PPE). Industrial safety gloves can help protect against hazards such as sharp objects, heat and cold, chemical burns, contact dermatitis, and various communicable diseases. Another compounding factor in a global spike in the safety gloves market came via the coronavirus (COVID-19) pandemic, which has redefined the availability of PPE for the healthcare industry value chain on a global scale.

Safety gloves form an integral part of the medical and healthcare segment, with latex and nitrile gloves used when dealing with high-risk situations involving blood, bodily fluids or patients with infectious diseases. Latex and vinyl gloves can also be used for low-risk general procedures such as non-invasive physical exams. On the back of these factors, the safety gloves market is predicted to reach a value of US$19 billion by 2030, according to a report from Persistence Market Research. The report estimates that the safety gloves market will register a compound annual growth rate of more than 6% during the forecast period of 2020–2030. By product type, durable safety gloves accounted for a larger share in the global safety gloves market compared to disposable safety gloves.

COVID-19 has also resulted in a spike in the need for hand hygiene, with community programs spreading awareness among people about adequate health and hygiene practices that must be conducted. Growing consumer awareness has resulted in increasing demand in the safety gloves market landscape. Demand for surgical safety gloves and sterile safety gloves, both declining within the disposable safety gloves market, experienced a steep rise since the first quarter of 2020, and is predicted to drive sales in the overall safety gloves market till the first quarter of 2021. An overview of the changing landscape of the global safety gloves market has led the report’s analysts to conclude that the market is gaining momentum, largely fuelled by the COVID-19 pandemic.

Amid the outbreak of the COVID-19 pandemic, a majority of manufacturers in the safety gloves market increased their production capacities to bridge the supply–demand gap. However, complete lockdowns, total shutdown of all industries and havoc in the industrial space all resulted in a decrease in initial production during the pandemic. In response, manufacturers increased production, catering to rising global demand for safety gloves. Although the lockdowns stalled industrial operations for a period, the demand for safety gloves from the manufacturing sector is predicted to gain prominence over the forecast period. Further, recent operations have seen a surge in general hygiene and sanitation practices by consumers worldwide, which is predicted to drive the global safety gloves market. Competition among the market players has also witnessed a rise, due to the increase in the market’s growth trajectory.

The report also found that the global safety gloves market represents a fragmented competitive landscape, where a majority of key players maintain their strategic focus on the pricing strategy, product strategy, digital advertising of products and remodelling of the supply chain network. A majority of the safety gloves market is dominated by a few major players, the report notes, such as 3M, Ansell, Avon Rubber, Cofra, Adhesive & Equipment, Amada Miyachi America, Mallcom, Lakeland Industries, Delta Plus, Superior Glove Works, Globus Group, Midas Safety and Hartalega Holdings Berhad, among others. The report identified North America as the largest market for safety gloves in 2019, followed by Europe. Globally, food safety is finding momentum, with the implementation of good manufacturing practices and overall hygiene across the food service industry, thus further increasing demand for safety gloves and resulting in higher sales across the world.

Image credit: ©stock.adobe.com/au/Kings Access

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