Yahoo Finance Industrial Gloves Global Market Report 2022: Ukraine-Russia War Impact
Major players in the industrial gloves market are Ansell Limited, Careplus Group Berhad, Globus Group, Hartalega Holdings BHD, Honeywell International Inc. , Kossan Rubber Industries Bhd, Riverstone Holdings Limited, Semperit AG Holding, Supermax Corporation Berhad, Top Glove Corporation Bhd, 3M Corporation, Carolina Glove and Safety Company, Rubberex Corporation (M) Bhd, Ejendals AB , and Lebon Protection.
New York, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Gloves Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06368702/?utm_source=GNW
The global industrial gloves market is expected to grow from $12.99 billion in 2021 to $14.33 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting manyevery markets across the globe. The industrial gloves market is expected to grow to $21.31 billion in 2026 at a CAGR of 10.4%.
The industrial gloves market consists of sales of industrial gloves products by entities (organizations, sole traders, and partnerships) used to protect the hands while using heavy machinery, tools, and devices, as well as strong chemicals for mild heat resistance, high abrasion resistance, and non-slip coating for better grip, comfort, durability, and protection from cuts, burns, chemicals, and other hazards. Industrial gloves refer to gloves for the protection of workers working in a factory.
The main products of industrial gloves are reusable gloves and disposable gloves.Reusable gloves refer to gloves that offer greater protection and are less likely to tear in use than disposables.
The types of materials used include natural rubber gloves, nitrile gloves, vinyl gloves, neoprene gloves, polyethylene gloves, and other materials used by pharmaceuticals, automotive and transportation, food, oil and gas, mining, chemicals, and other end-users.
Asia-Pacific was the largest region in the industrial gloves market in 2021. The regions covered in this industrial gloves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The growing healthcare and food processing industries are expected to propel the growth of the industrial gloves market going forward.Healthcare industries refer to companies that offer clinical services and manufacture drugs and medical equipment, whereas food processing industries refer to companies involved in any method used to transform an agricultural product into a food product and sell it at local grocery stores or to modify one food item into another.
Industrial gloves help the healthcare industry prevent the spread of infection or illness, and the food processing industry requires gloves for maintaining hygiene and decontamination in low and high-hazard areas.For instance, according to India Brand Equity Foundation, an Indian government export promotion agency, the Indian healthcare sector is expected to record a three-fold rise, growing at a CAGR of 22% between 2016–2022, and reaching US$ 372 billion in 2022.
Further, according to InvestIndia, an Indian investment promotion agency, India’s food processing sector is one of the largest in the world and its output is expected to reach $535 bn by 2025-26. Therefore, the growing healthcare and food processing industries are driving the industrial gloves market.
Implementation of innovative technologies is the key trend gaining popularity in the industrial gloves market.Major companies operating in the industrial gloves market are introducing technological innovations such as surface technology for high-cut-risk areas and grip to sustain their position in the industrial gloves market.
For instance, in September 2021, Unigloves, a UK-based glove developer company operating in the industrial gloves market, launched NITEX, an industrial glove range, and created a unique surface technology, including NitreGrip for grip in various conditions, and NitreGuard for high-performance in the straight blade cut test.
In November 2021, Techniweld USA, a US-based welding company, acquired Southern Glove, Inc. for an undisclosed amount. Through this acquisition, Techniweld USA is expected to gain a new line of glove products to strengthen its position. Southern Glove, Inc. is a US-based manufacturer of industrial gloves that specialises in work gloves, hand and arm protection products, and industrial aprons.
The countries covered in the industrial gloves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The industrial gloves market research report is one of a series of new reports that provides industrial gloves market statistics, including industrial gloves industry global market size, regional shares, competitors with an industrial gloves market share, detailed industrial gloves market segments, market trends and opportunities, and any further data you may need to thrive in the industrial gloves industry. This industrial gloves market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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