The increasing demand for industrial gloves across several end-users is leading to double-digit growth of the global glove market. The increased number of manpower, particularly in the thriving chemicals, food and beverages, and pharmaceuticals industries is bolstering the demand for industrial gloves.
Among all, disposable gloves are expected to maintain a lead with enormous margin. This is because disposable gloves are designed for ease of wearing and taking them off. This feature of disposable gloves accounts for their preference over re-usable drugs. Moreover, the utilization of reusable gloves is time consuming as they require proper cleansing and storage between uses, which adds to the work of the operational worker. Hence, the rising demand for disposable gloves is expected to propel the growth of the global market for industrial gloves.
Product Innovation to Augment Growth Opportunities for Leading Players
In present times, workplace safety is significantly important for employers and it augurs well for the growth of the industrial gloves market. Rampant industrialization is the primary factor for the growth of the global market for industrial gloves. The utilization of a range of industrial gloves across industrial operations is mainly due to worker safety mandates that are in place by governments and labor welfare organizations. These mandates are strictly followed in developed countries as compared to developing countries. Thus, the growth of the global market for industrial gloves is backed by rules pertaining to workplace safety of employees.
The global market for industrial gloves is highly fragmented. Large corporations that operate in this market offer high-quality industrial gloves. However, the high cost of their products hinders their sales. To add to their woes, local players offer slightly low quality products at competitive prices. This poses a threat for large companies to be replaced by small players, predominantly in developing nations that have a large number of cost-conscious industries. To address this, multinational companies are striving for product innovation in order to launch newer products at reduced costs and maintain their position in the global market. Not only this, introduction of new products by leading manufacturers will also open new growth opportunities for the global market for industrial gloves