LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global industrial safety glove market size to grow to USD 7.42 billion by 2021, at a CAGR of 7% over the forecast period, according to their latest report.
The research study by Technavio on the global industrial safety glove market for 2017-2021 provides detailed industry analysis based on material (natural rubber gloves, nitrile gloves, vinyl gloves, neoprene gloves, and polyethylene gloves) and geography (North America, Europe, APAC, and ROW).
Industrial safety gloves are a form of personal protective equipment that protects the whole hand from hazards and injuries in an industrial ecosystem. North America will generate the maximum incremental growth for the market over the forecast period, driven by the thriving construction, manufacturing, chemical, and equipment sectors.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global industrial safety glove market:
- Increase in rubber production
- Growing industrial segments
- Occupational safety measures
Increase in rubber production
“The global rubber production is rising due to increase in production from countries such as Thailand, Indonesia, and Vietnam. This will positively impact the industrial safety gloves market, as rubber is one of the key raw materials required for its production,” says Sarah Haque, one of the lead analysts at Technavio.
The demand for rubber gloves is primarily driven by the healthcare industry. This demand and global increase in production of rubber together is responsible for the growth of the industrial safety glove market over the forecast period.
Growing industrial segments
The growth of the various end-user segments such as manufacturing, chemicals, construction, mining, and metal fabrication has necessitated the need for industrial safety gloves to ensure the wellbeing of the workers and prevent any hazards in the workplace. The healthcare and construction sectors are the most important end-user industries, with vendors providing customized safety gloves to cater to the requirements of these industries, which contributes to the growth of the industrial safety glove market.
Occupational safety measures
“Industries are obligated to ensure that the workers under their employment are safe from any occupational operation hazards. There are various standards and laws enlisted by Occupational Safety and Health Administration, which need to be adhered to by various segments such as construction, agriculture, healthcare, maritime, etc.,” says Sarah.
These industries involve considerable risk to the worker’s safety, thereby mandating the use of safety gloves such as nitrile gloves or neoprene gloves. Such initiatives to maintain impressive safety records in various end-user industries will drive the growth of the industrial safety glove market.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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