Disposable Gloves Market Overall Study To Share, Demand, Growth And Forecast By 2029 |
The global disposable gloves market size was valued at USD 23.03 billion in 2021. The market is projected to grow from USD 26.82 billion in 2022 to USD 44.64 billion by 2029, exhibiting a CAGR of 7.5% during the forecast period.
This information is provided by Fortune Business Insights, in its report, titled, “Disposable Gloves Market, 2022-2029.”
Augmented Demand from Healthcare Sector to Support Market Growth amid COVID-19
The COVID-19 has interrupted the supply chain and led to global hoarding for the PPE involving disposable gloves among others. During the preliminary phases of the pandemic, demand for disposable gloves and other protective gears rose and prices ascended, owing to supply chain interruptions caused by lockdown guidelines imposed across the world. In order to suffice the unparalleled demand observed during pandemic, numerous companies came forward and retrofitted their production line to manufacture PPE kits for frontline workers.
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Natural Rubber Latex Gloves Segment to Hold Considerable Share Owing to Extended Usage in Healthcare Sector
Based on material, the market is segmented into natural rubber latex gloves, nitrile gloves, Polyvinyl Chloride (PVC) gloves, and others.
In 2021, the natural rubber latex gloves segment led the market. Latex gloves are amongst the most expansively used gloves in the market.
Healthcare & Medical Segment to Hold a Significant Share Owing to Growing Demand from Healthcare Amenities
In terms of application, the market is segmented into healthcare & medical, industrial, food industry, and others.
In terms of both volume and value, the healthcare & medical segment characterized the prime share of the market.
Geographically, the market is segregated into North America, Europe, East Asia, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America, and the Rest of the World.
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The report offers a holistic review of the market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions or driving aspects is also mentioned in the report. Step by step, thorough regional analysis is offered. The COVID-19 influences have been added to the report to help investors and business owners understand the threats better. The top players in the market are recognized, and their strategies to bolster the market growth are shared in the report.
Drivers and Restraints:
Increasing Implementation of Enhance Industrial Safety and Hygiene Standards to Drive Market Growth
The construction sector is responsible for the prime share of work-related injuries and mortalities among all industries. Owing to the construction, workers’ hands are open to unsafe conditions on the working site as insufficient precautionary measures can consequence in mishaps. All of the threats linked with such accidents may be effortlessly reduced to a suitable level by wearing satisfactory PPE on the working site, which comprises gloves. Surging infrastructure and building ventures in the U.S., China, and India are predicted to create a considerable global development prospect for the market growth.
Raw materials, such as latex, utilized in production of disposable gloves is majorly manufactured in Asian nations such as Malaysia and China. The greatly concentrated raw material source suggests that any commotion at the source can considerably affect majorly every shareholder throughout the value chain. This may hamper the disposable gloves market growth.
Southeast Asia to Dominate Backed by Rising Demand from Healthcare Sector
Southeast Asia held the largest disposable gloves market share in 2021 and is likely to maintain its position during the forecast period, owing to increasing demand from healthcare sector.
North America is projected to observe growth, owing to the escalating demand from industrial sector. Manufacturing sector in the U.S. has been gradually rising since the start of the pandemic.
North America is estimated to observe growth, owing to increasing demand from the industrial sector. Production sector in the U.S. has been sturdily rising since the commencement of the pandemic.
East Asia is predicted to observe considerable growth rate owing to the upsurge in demand from the food & beverages industry.
Procurement Commenced by Prime Companies to Endorse Market Growth
The dominating players in the market constantly opt for effective strategies to bolster their brand value as well as promote the global market growth. One such proficient strategy is acquiring competitive companies and further securing a profit for both the companies.
Key Industry Development:
January 2021: Ansell Limited, accomplished the procurement of the Primus brand and associated assets that establish the Life Science business belonging to Primus Gloves and Sanrea Healthcare Products (Primus).
List of Key Players Mentioned in the Report:
- Top Glove Corporation Bhd (Malaysia)
- Hartalega Holdings Berhad (Malaysia)
- Kossan Rubber Industries Bhd (Malaysia)
- ANSELL LTD (Australia)
- Sempermed (Austria)
- Cardinal Health (U.S.)
- Supermax Corporation Berhad (Malaysia)
- Intco Medical (China)
- Bluesail Medical Co., Ltd. (China)
- Riverstone Holdings Limited (Malaysia)
- YTY Group (Malaysia)
- Comfort Rubber Gloves Industries Sdn Bhd (Malaysia)
- JIANGSU JAYSUN GLOVE CO., LTD (China)
- Kimberly-Clark Worldwide, Inc. (U.S.)
- Synthomer plc (U.K.)
- 3M (U.S)
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