Surging awareness regarding the safety of workers is expected to drive the growth of Asia Pacific industrial gloves market
According to TechSci Research report, “Asia Pacific Industrial Gloves Market Product Type (Disposable Gloves, Re Usable Gloves), By Type (Nitrile Rubber, Latex(Natural Rubber), Vinyl Rubber, Neoprene Rubber, Polyethylene, Butyl Rubber, Others), By End User (Health Care, Pharmaceutical, Food & Beverages, Manufacturing, Chemicals & Petrochemicals, Mining Including Oil & Gas, Others), By Purpose (Multi-Purpose, Cut Protection, Oil Repellent, Thermal [Arc Flash] Protection, Special Protection, Others), By Country, Competition, Forecast & Opportunities, 2025”, Asia Pacific industrial gloves market was valued USD 1048.04 Million in 2019 and is forecast to grow at CAGR of 7.46% to reach USD 1531.77 Million by 2025. Many countries in Asia Pacific have a high prevalence of occupational disease. In China, more than 25 million workers were exposed to occupational hazards in 2019. As per data published by the Indian Ministry of Health (MoH), almost 2 million companies are associated with hazardous materials or working conditions. All major manufacturing companies are putting employee well-being ahead of productivity issues and have come up with usage of personal protective equipment including safety gloves. Thus, role of hand protection providers extends beyond product recommendations. Glove manufacturers are working closely with customers to meet specific customer and to build long term relationships.
On account of trade wars and global pandemic outbreak in China, a rising number of manufacturing companies are increasing focusing on shifting production to South East Asian countries such as India, Vietnam, Myanmar and the Philippines. Governments of these emerging nations are offering attractive incentives to move out of China and set up domestic production facilities. Consequently, industrial gloves manufacturers have a huge potential sales opportunity in these emerging nations as upcoming local manufacturing setups will create a new labor workforce domestically, which will subsequently increase demand for industrial gloves in the region.
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Asia Pacific industrial gloves market can be segmented based on product type, type, end user, purpose, company, and region. Multi-Purpose segment garnered around 32.78% share in Asia-Pacific industrial gloves market in 2019 and is expected to maintain its dominance during forecast period. Utilization of multi-purpose industrial gloves for a wide range of applications across sectors such as mining, construction, automotive, assembling plants, heavy machinery equipment, and industrial handling & packaging is boosting the growth of the segment in industrial gloves market.
Industry expansion has broadened the range of hazards from which safety gloves need to protect workers. They include metal cuts, hazardous chemicals, high temperatures, mechanical hazards, electric shock, radiation, and microbial contamination. These multi-purpose gloves can serve as a complete solution for all the listed hazards.
Ansell Limited, Honeywell International Inc., Showa Glove Co., Top Glove Corporation Bhd, Kossan Rubber Industries Bhd, Mapa Professional, 3M Co., Towa Corporation, MSA Safety Incorporated, White Glove Co.Ltd., Midas Safety Inc, Corporate Station Bangladesh and Nacol Industrial Company Limited, among others are the leading players operating in Asia Pacific industrial gloves market. With growing demand for industrial gloves in various end user applications such as manufacturing, chemical sector, healthcare, oil & gas, etc, companies have started investing in expanding manufacturing facilities. For instance, Top Glove Corporation Bhd has set plans for 2021 to introduce 150 production lines with 17.7 billion gloves capacity . Further, the company announced to commence nitrile gloves production at newly launched facility in Thailand by 4th quarter of 2020. The facility has 28 new production lines with production capacity of 3.5 billion pieces of gloves per year when fully operational. Further, Kossan Rubber Industries Bhd plans to allocate USD350 million to set up a new gloves manufacturing plant in Bidor, Perak, which is estimated to be completed by 2023.
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“South East Asian countries such as India and Vietnam are anticipated to register higher CAGRs of more than 8% during forecast period. The growth of South East Asian industrial gloves market is attributed to factors such as growing automobiles and electronics sectors. Growth in manufacturing sector is boosting economies in these countries, as well as augmenting demand for industrial gloves. Additionally, amidst global pandemic, US-China trade war and border tensions between India and China, are driving industries away from China and shift towards South East Asian countries. Setting up of industries in these countries will create an employment for local people, which will boost demand for industrial gloves in the region.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Asia Pacific Industrial Gloves Market Product Type (Disposable Gloves, Re Usable Gloves), By Type (Nitrile Rubber, Latex(Natural Rubber), Vinyl Rubber, Neoprene Rubber, Polyethylene, Butyl Rubber, Others), By End User (Health Care, Pharmaceutical, Food & Beverages, Manufacturing, Chemicals & Petrochemicals, Mining Including Oil & Gas, Others), By Purpose (Multi-Purpose, Cut Protection, Oil Repellent, Thermal [Arc Flash] Protection, Special Protection, Others), By Country, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of Asia Pacific industrial gloves market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Asia Pacific industrial gloves market.
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