The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Industrial Safety Gloves Market is likely to witness an impressive CAGR of 7.2% during the forecast period.
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Segment Analysis
By Product Type
Based on the product type, the market is segmented as mechanical gloves, chemical & liquid protection, thermal gloves, and special protection gloves. Mechanical gloves are estimated to account for the largest share of the market owing to their wide application across various sectors such as construction, mining, automotive, heavy machinery equipment, and industrial handling & packaging. They offer excellent cut resistant feature which provides protection from cuts and injuries. On the contrary, chemical & liquid protection product is estimated to grow at a faster pace as compared to other product types, owing to their excellent features such as water resistance, anti-impact, and enhanced grip properties. They provide protection from oil and greasy materials while managing diverse applications in various industries.
By Material Type
Based on the material type, the market is segmented as nitrile gloves, natural rubber gloves, vinyl gloves, neoprene gloves, polyethylene gloves, and others. Nitrile gloves are estimated to witness significant growth rate in the upcoming years, attributed to an increased product demand to maintain hygienic conditions. In addition, growing awareness in various manufacturing industries attributed to the strong regulatory customs to minimize worker accidents and other loss of resources is accelerating the market growth during the forecast period. On the other hand, natural rubber gloves are estimated to account for the largest share of the market during the forecast period owing to their various offered features, making it a cost-effective and eco-friendly option, fueling the growth of the market during the forecast period.
By Application Type
Based on the application type, the market is segmented as automotive, chemical, machinery & equipment, metal fabrication, oil & gas, and mining. Chemical application is estimated to register high growth rate in the upcoming years. Factors such as rise in demand for paint & coatings attributed to the rapid urbanization, expansion of chemical sector due to growing demand for petroleum and petrochemical products, and key features such as breathable materials, ultra-lightweight, seem-less and cut resistant liners are expected to boost the product demand. Furthermore, the machinery & equipment segment is estimated to account for the highest share of the market in the upcoming years, owing to growing need for cut resistance, oil repellence, heat protection, and its higher usage of heavy equipment, tools, and metals, during the forecast period.
By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing region in the market with China, India, Japan and South Korea being the major countries with lucrative growth opportunities during the forecast period. Asia-Pacific is among the largest producers of natural rubber and also the global natural rubber price is highly dependent upon the supply-demand in the region as natural rubber is easily available in Asia-Pacific. Furthermore, North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
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