Transparency Market Research (TMR) in its latest report reveals that the global chemical protective gloves market is set to exhibit a CAGR of 4.6% from 2017 to 2026 and reach a valuation of US$ 3,641.8 Mn. Increasing efforts to improve worker safety in manufacturing facilities and factories is likely to influence the global chemical protective gloves market during the forecast period (2017-2026). Demand for chemical protective gloves has been witnessing an uptrend due to introduction of worker safety policies in emerging. Therefore, manufacturing facilities in these countries are now bound to increasing their worker safety standards or else risk being charged for regulatory violation.
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Chemical protective gloves find a ton of application, they are used in industries such as manufacturing, construction, pharmaceutical, agriculture and oil & gas among other. Such gloves are extremely important in high-risk working environment, chemical protective gloves can significantly reduce the impact of exposure of hand to harmful chemicals. Also, worker injuries and illness is a major concern for both private sector and public sector. The U.S department of labour stated that there were 1,153,490 days-away-from-work cases in private industry, state government, and local government in 2015. Hand injuries or illnesses is one of the major reasons for days-away-from-work. In order to curb such time-loss and injury frequency rate, manufacturing facilities are upgrading their worker safety model. Moreover, government is developing countries are stepping up efforts to spread awareness about worker safety. The worker safety regulation are moderate in third world countries, hence, worker are at a higher risk of picking up injuries. The increased level of awareness among people towards health and safety at work in both developed and developing countries is also expected to drive the global sales of chemical protective gloves in the years to follow.
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North America will remain a Major Market for Chemical Protective Gloves Over 2026
Demand for chemical protective gloves is expected to remain high in North America in 2018 and beyond. In terms of revenue, the region is expected to dominate the global chemical protective gloves market throughout the assessment period. The market in the region is expected to witness a steady CAGR of 4% between 2017 and 2026. This is primarily owing to presence of a well-defined worker safety regulatory landscape, which ensures adherence to safety standards of the highest level.
Nitrile Gloves a Top Selling Product Type
Preference for nitrile gloves will continue to remain strong during the foreseeable period. This is primarily due to their superior resistance as compared to other type of clubs. Nitrile gloves have greater resistance to acids, oils and chemicals. Currently, global sales of nitrile gloves represent for more than 45% revenue share of the global chemical protective gloves market. By 2026-end, around US$ 1,879.9 Mn worth nitrile gloves are expected to be sold worldwide.
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Manufacturing a Leading Application Segment
Use of chemical protective gloves is expected to remain significantly high in the manufacturing sector. Workers are exposed to various types of risks in manufacturing plants, hence, self-protection gears such as protective gloves are crucial. In 2017, over US$ 500 Mn worth chemical protective gloves were sold in the manufacturing industry.