Gloves Market size is set to grow by USD 11.32 billion from 2024-2028, AMMEX Corp., Ansell Ltd. and Cardinal Health Inc., and more to emerge as Some of the Key Vendors, Technavio

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Apr 17, 2024, 17:10 ET

NEW YORK, April 17, 2024 /PRNewswire/ -- The global gloves market size is estimated to grow by USD 11.32 bn from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of almost 5.78% during the forecast period. APAC held the largest share of the global market in 2023, and the market in the region is estimated to witness an incremental growth of 32%.

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Technavio has announced its latest market research report titled Global Gloves Market 2024-2028

Major Players in the Market

Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:

AMMEX Corp., Ansell Ltd., Cardinal Health Inc., Cole Parmer Instrument Co. LLC, Dynarex Corp., Kanam Latex Industries Pvt. Ltd, McKesson Corp., MRK healthcare Pvt. Ltd., Owens and Minor Inc., Primus Gloves Pvt. Ltd., Semperit AG Holding, Superior Glove Works Ltd., Supermax Corp. Berhad, Thermo Fisher Scientific Inc., Top Glove Corp. Bhd, UG Healthcare Corp. Ltd., WellCare International Inc., Medline Industries LP

Analyst Review

The Gloves Market encompasses a wide range of products used in various industries, including healthcare and automation. Key players in this market include natural rubber (latex) gloves, nitrile gloves, vinyl gloves, polyethylene (PE) gloves, and gloves made of cloth, leather, neoprene, silk, Kevlar, and silicone. In the healthcare sector, examination gloves and surgical gloves are essential, with latex and nitrile being the most commonly used materials due to their durability and resistance to chemicals. Automation and robotics also utilize gloves made of various materials for protective purposes. Hospitals and clinics, ambulatory surgical centers, and diagnostic centers are significant consumers of gloves. Vinyl and nitrile rubber are popular choices for industrial applications due to their strength and flexibility.

Key Market Drivers

In the healthcare sector, the demand for protective gloves continues to rise due to increased patient footfall and the need for maintaining sterile conditions for patient safety. Manufacturers respond with increased production capacity, enabling a diverse range of gloves for various applications. These include sterile surgical gloves made of latex, nitrile rubber, and cloth, as well as non-sterile gloves for non-surgical care procedures. Specialty gloves, such as powder-free nitrile gloves, metal mesh gloves, and coated fabric gloves, offer protection against chemical exposure and thermal risks. Additionally, industrial gloves made of rubber, neoprene, silk, Kevlar, and other materials ensure safety in construction, automotive, chemicals, oil and gas industries. Protective gloves are essential for healthcare providers and workers in various industries, safeguarding against mechanical hazards, electrical dangers, and chronic diseases like cardiovascular and respiratory conditions. Other applications include pressure suits and spacesuits, which require gloves made of specialized materials for extreme conditions. Thumb and finger protection are crucial, with gloves available in various sizes and materials, including disinfection-ready and sterilization-ready options.

Challenges and Opportunities

The gloves market faces volatility due to fluctuating prices of key materials like natural rubber (latex), nitrile, and vinyl. Powder-free gloves, including surgical and examination gloves, are predominantly made from latex and nitrile, while vinyl gloves are also common. Automation and robotics are increasingly used in glove manufacturing, particularly in hospitals and clinics, ambulatory surgical centers, diagnostic centers, and other healthcare facilities. Biodegradable and eco-friendly gloves made from plant-based polymers, such as natural rubber latex, are gaining popularity due to hand hygiene and infection control measures. However, raw material price volatility poses challenges, leading manufacturers to consider hedging strategies and long-term supply contracts. Allergic reactions to powder particles in gloves and patient safety concerns have driven the shift towards powder-free gloves. Various materials, including nitrile rubber, cloth, leather, rubber, neoprene, silk, Kevlar, and even Thumb-Tec gloves, are used in diverse applications, from medical procedures to industrial uses.

The gloves market encompasses a wide range of products, including finger gloves, designed for various applications. Disinfection and sterilization are crucial aspects of the market, particularly in healthcare settings. Antimicrobial solutions, such as those employed in vinyl gloves by Omni International, play a significant role in preventing the transfer of microbes, especially in food processing and food service applications. Chronic diseases like cardiovascular and respiratory conditions necessitate stringent hygiene measures, leading to the demand for sterile surgical gloves, masks, and non-surgical care procedures. Non-healthcare industries also utilize gloves, including powder-free nitrile gloves for automation and robotics, metal mesh gloves for high-heat applications, canvas and fabric gloves for general use, and coated fabric, chemical-resistant, butyl, and neoprene gloves for specific industries. Latex and nitrile remain popular choices due to their versatility, while vinyl and polyethylene offer cost-effective alternatives. The market caters to diverse sectors, including hospitals and clinics, ambulatory surgical centers, and diagnostic centers.

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Market Overview

In the gloves market, latex gloves are a popular choice for various applications. Powdered gloves, particularly nitrile gloves, are also widely used due to their superior grip and durability. The use of powdered gloves is essential in certain industries, such as healthcare and laboratory settings, where a high level of dexterity and sensitivity is required. However, the use of powdered gloves has been linked to health concerns, including respiratory issues and allergic reactions. As a result, many organizations have adopted powder-free gloves as a safer alternative. Additionally, surgical gloves are an essential component in the medical field, providing a protective barrier for both the healthcare provider and the patient. Overall, the gloves market caters to a diverse range of industries and applications, with a focus on innovation and safety.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio