The global Hand Protection Equipment market size is expected to be worth around US$ 40.6 billion by 2030, according to a new report by Vision Research Reports.
The global Hand Protection Equipment market size was valued at US$ 25.8 billion in 2020 and is anticipated to grow at a CAGR of 7.7% during forecast period 2021 to 2030.
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Hand Protection Equipment Market (By Product: Disposable, Durable; By Raw Material: Natural rubber/latex, Nitrile gloves, Neoprene, Vinyl gloves; By End-use: Construction, Manufacturing, Oil & Gas, Chemicals, Food, Pharmaceuticals, Healthcare, Transportation, Mining) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
Report Coverage
| Report Scope | Details |
| Market Size | US$ 40.6 Billion by 2030 |
| Growth Rate | CAGR of 7.7% From 2021 to 2030 |
| Base Year | 2021 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Raw Material, End use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Top Glove Corporation Bhd; Hartalega Holdings Berhad; Superior Gloves; Adenna LLC; MCR Safety; Atlantic Safety Products, Inc.; Ammex Corporation; Kimberly-Clark Corporation; Sempermed USA, Inc.; Halyard Health, Inc.; Medline Industries, Inc.; Cardinal Health; Kossan Rubber Industries Bhd; Globus (Shetland) Ltd. |
Growth Factors
The rising awareness among industry participants pertaining to the importance of worker security and safety at workplaces on account of the stringent regulations is expected to drive the market.
Companies have established safety guidelines and prioritized worker safety to reduce workplace hazards, thereby limiting the adverse impact on the overall operational costs in the form of arbitrated settlements or compensation. The demand for hand protection equipment in the healthcare sector is witnessing growth with the rising prevalence of infectious diseases.
Increasing awareness about the safety and health measures related to emergency response occurrences coupled with the treatment of patients is anticipated to augment the demand for hand protection equipment in the healthcare sector. Moreover, risks associated with on-the-job transmission of blood-borne pathogens have the increased adoption of hand protection.
By Product Analysis
The durable gloves segment led the market and accounted for the largest revenue share of 56.5% in 2020. Durable gloves are used in the manufacturing industry to avoid injuries that may arise due to cuts, abrasions, burns, and chemicals.
The growth in the manufacturing, pharmaceutical, chemical, and construction industry is expected to augment the product demand over the forecast period. period.
Disposable gloves are estimated to witness a CAGR of 7.9% from 2019 to 2030, in terms of revenue. Disposable gloves are majorly used in the food and healthcare industries to provide protection and prevent cross-infection between patients and caregivers.
Disposable gloves are estimated to witness a CAGR of 7.9% from 2019 to 2030, in terms of revenue. Disposable gloves are majorly used in the food and healthcare industries to provide protection and prevent cross-infection between patients and caregivers.
By End-use Analysis
Healthcare led the market and accounted for the largest revenue share of 38.0% in 2020. Hand protection equipment for healthcare workers is important to fight against the novel coronavirus.
Employees working in the pharmaceutical industry face various on-the-job hazards as they come in contact with biological agents, chemical substances, and drugs. Hand protection equipment required by workers includes protection against liquid pressurized chemicals, hazardous and non-hazardous particles, and liquid aerosol.
The food industry is mainly dependent on hygiene and quality control on account of which the demand for hand protection equipment in the industry is expected to grow over the forecast period.
By Raw Material Analysis
The natural rubber segment dominated the market and accounted for 38.0% of the global revenue in 2020. Hand protection equipment, made from natural rubber is tactile, resulting in their increased preference in sensitive applications, such as medical procedures and surgeries.
Vinyl gloves are highly cost-effective as compared to latex and nitrile gloves. Owing to their low price, vinyl gloves have gained significance in the medical and healthcare sectors, especially for examination applications.
The demand for neoprene gloves is expected to witness a CAGR of 8.4% from 2019 to 2030. Neoprene gloves are incredibly resistant to stretching, allowing for a snug fit as compared to latex and nitrile gloves.
Nitrile gloves offer high puncture resistance, excellent barrier protection, and durability owing to which they are preferred in environments where exposure to blood-borne pathogens and other contaminants is a primary concern. Moreover, they ensure good comfort and fit owing to their high elasticity and memory.
By Regional Analysis
Europe led the market and accounted for over 32.0% of the global revenue in 2020. A rising number of occupational injuries combined with increasing requirement for highly effective hand protection equipment in the majority of core industries such as food and beverage, metal manufacturing, oil and gas, automotive, and chemical is expected to augment hand protection equipment penetration in the region over the forecast period.
North America is anticipated to drive the demand for hand protection equipment over the forecast period. In addition, post the COVID-19 pandemic, government authorities are expected to heavily invest in healthcare infrastructure, which is expected to have a positive impact on market growth over the coming years.
Key Players
Market Segmentation
The study objectives of this report are:
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