July 23, 2024

The Industrial Hand Protection Gloves Market Is Estimated To Witness High Growth Owing To Increased Awareness Regarding Labor Safety

Industrial hand protection gloves are protective wear used during manual labor to prevent hand injuries at the workplace. These gloves are manufactured using a variety of materials such as rubber, leather, nitrile, kevlar, and polyethylene to suit different industrial applications including automotive, chemical, food processing, and healthcare among others.

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 Dynamics:
The global industrial hand protection gloves market is witnessing a high growth owing to increased awareness regarding labor safety across industries. Stringent regulatory policies related to worker safety and rising adoption of industrial personal protective equipment are also expected to fuel market growth over the forecast period. However, availability of counterfeit products poses a challenge to established players in the market. Leading players are focusing on new product launches catering to emerging applications to gain competitive advantage.

SWOT Analysis of Industrial Hand Protection Gloves Market

Strengths:
– Industrial gloves protect workers hands from cuts, abrasions, chemicals and disease. This leads to fewer workplace injuries and related costs.
– There are a wide variety of glove types available to suit different industrial applications like mechanical protection, chemical handling, food processing etc.
– Strict occupational safety regulations in developed markets drive the demand for industrial hand protection.

Weaknesses:
– Frequent use and exposure to harsh chemicals/materials can degrade glove quality faster requiring more frequent replacement. This increases operational costs.
– Availability of cheaper counterfeit gloves of inferior quality undermine brand loyalty.

Opportunities:
– Growth of manufacturing and construction industries in developing Asian and African countriesprovide new market opportunities.
– Innovation of specialty gloves made of advanced materials for niche applications in industries like oil & gas, electronics offer scope formore premium products.

Threats:
– Economic slowdowns and downturns reduce capital expenditure thereby impacting discretionary safety gear purchases.
– Changing trade policies and tariff wars between countriesdisrupts supply chains of global glove manufacturers.

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.

Regional analysis related content comprises- North America currently dominates the market due to stringent workplace safety regulations in major economies like the US. Asia Pacific region is poised to be the fastest growing market led by expanding manufacturing industry in China and India.

Key players operating in the Industrial Hand Protection Gloves market include Burcon Nutrascience, Cosucra Groupe Warcoing, Nutri Pea Limited, Sotexpro, Roquette Freres, Glanbia Plc., Fenchem Biotek Ltd., Prinova Group LLC, and Yantai Shuangta Food Co.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it