Industrial Safety Gloves Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)

Industrial Safety Gloves Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)

The Global Industrial Safety Gloves Market was valued at USD 9,238.8 million in 2021 and is projected to register a CAGR of 7.50% during the forecast period, 2022 - 2027.

According to the Malaysian Rubber Board (MRB), the COVID-19 pandemic has increased the price of rubber required for manufacturing gloves. The use of single-use nitrile gloves has been on a sharp incline since the pandemic first started in late 2019. However, the overall industrial sector witnessed a massive contraction in demand owing to the pandemic in 2020, which resulted in negative growth of the industrial safety gloves market 2020. Supply availability was hampered by several issues, including export and travel restrictions by some producing countries and lockdowns that forced suppliers to (temporarily) shut down. It caused major losses in all sectors, including construction, manufacturing, oil & gas, pharmaceutical, and many others. The construction work was stopped keeping in mind the workers’ concerns in the construction industry. As a result, construction industries suffered heavy losses, which impacted the world economy.

Due to stringent regulations towards employees’ safety, industrial gloves are finding significant applications in various heavy-duty industries, such as construction, chemicals, automotive, oil and gas, and waste management. In addition, these industrial gloves made of latex, nitrile, and HPPE offer enhanced grip and ease of operation, which is impossible with bare hands. The growing demand for efficient gloves with better grip and convenience encourages the key players to engage in continuous product development and launches. For instance, Showa launched a safety glove named ‘Showa 379 gauntlet’, which provides extra chemical resistance and is highly flexible.

Rising awareness among industry players regarding the importance of worker safety and security at workplaces, owing to the stringent regulations and high costs associated with workplace hazards, is anticipated to drive the market. The demand for industrial gloves is expected to rise over the forecasted period, as it helps in easy donning, removal, better grip, and less sweat and moisture inside the gloves. The demand for these industrial gloves is expected to grow over the forecast period due to their increased usage across numerous industries such as oil & gas, manufacturing, automotive, and construction.

Key Market TrendsRising Demand for Occupational Safety

Occupational safety and health at work are vital components of decent work. However, the International Labour Organization (ILO) estimates that some 2.3 million women and men around the world succumb to work-related accidents or diseases every year; this corresponds to over 6,000 deaths every single day. An occupational accident or injury is defined as any personal injury, disease, or death resulting from an occupational accident. Worldwide, there are around 340 million occupational accidents annually, as reported by the ILO.

Furthermore, the Bureau of Labor Statistics (BLS), United States Department of Labor, reported in its National Census of Fatal Occupational Injuries in 2020 that 4,764 fatal work injuries were recorded in the United States in 2020, a 10.7% decrease from 5,333 in 2019. To reduce the number of such instances, employers in various industries across the world have been focused on enhancing their employees’ safety by providing better safety equipment, such as industrial safety gloves or footwear, among other such equipment. This factor has helped propel the sales of industrial safety gloves worldwide over the past few years.

Thus, the prevalence of fatal occupational injuries, especially in industries such as construction, mining, utilities, and manufacturing, among others, has led to the increased use of Personal Protective Equipment (PPE), including industrial safety gloves, thereby, driving the growth of the market studied over the review period

Asia-Pacific to Witness the Fastest Growth Rate

The rising presence of various service and manufacturing industries and stringent government rules and regulations on industrial safety are driving the market in Asia-Pacific. For instance, the Occupational Safety and Health Administration (OSHA) offers information on worker protection for functioning in various industrial settings by imposing rules and regulations. Every manufacturing company has a quality department to check the quality of industrial gloves and ensure that the procured gloves are up to the mark in real-time operations. Such factors are influencing the demand for high-quality safety gloves in the region. In Asia-Pacific, rising industrialization and growth in the number of workers are expected to support the demand for industrial safety gloves, especially in China and India. According to industrial sources, there are currently 5,384 disposable glove-related enterprises in China, 2,779 companies registered in 2020, and 235 companies registered in January 2021.

Competitive Landscape

The market is highly competitive with a large number of regional and international players in the market. International players dominate the global industrial safety gloves market like Honeywell International Inc., 3M Corporation, Top Glove Corporation Berhad, Ansell, and Radians, occupying the majority market share. These companies have been further intensifying the competition in the market studied. Companies have been differentiating their products and application efficiently to cater to the increasing demand for gloves due to growing industrialization, as there has been a high demand for safety gloves for worker’s protection. The companies are rapidly expanding their presence in the market by adopting innovative strategies, such as new product launches, partnerships, and joint ventures.

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