Rubber Gloves Market to Garner $122.5 Billion, Globally, By 2030 at 12.2% CAGR, Says Allied Market Research

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Jul 13, 2021, 09:30 ET

Rise in demand for medical and healthcare applications and increase in demand from chemical, oil & gas and petrochemical industries fuel the growth of the global rubber gloves market.

PORTLAND, Ore., July 13, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Rubber Gloves Market by Type (Powdered and Powder Free), Product (Disposable and Reusable), Material (Latex, Nitrile, Vinyl, and Others), and End-user Industry (Healthcare, Food & Beverage, Automotive, Machinery, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global rubber gloves industry was estimated at $34.0 billion in 2020, and is anticipated to hit $122.5 billion by 2030, registering a CAGR of 12.2% from 2021 to 2030.

Drivers, restraints, and opportunities-

Rise in demand for medical and healthcare applications and increase in demand from chemical, oil & gas and petrochemical industries fuel the growth of the global rubber gloves market. On the other hand, latex sensitivity and low tactile sensitivity of nitrile gloves impede the market growth to some extent. However, surge in awareness towards hygiene practices present new opportunities in the industry.

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Covid-19 Scenario:

Disrupted supply of raw materials gave way to disrupted manufacturing activities, thereby impacting the global rubber gloves market negatively. However, according to the Malaysian Rubber Board, the demand for rubber gloves from the medical and residential sectors experienced a steep increase, and this demand led to rise in the prices of raw materials.
Simultaneously, most government bodies highly invested in the production of disposable medical gloves. Also, there's been an increased awareness among individuals regarding the health and safety benefits of hand gloves. This, in turn, has been beneficial for the market growth.

The powder free segment to dominate by 2030-

Based on type, the powder-free segment held more than two-thirds of the global rubber gloves market share in 2020, and is expected to dominate throughout the forecast period. Moreover, this segment is projected to mangiest the largest CAGR of 12.5% from 2021 to 2030. This is attributed to rise in demand for rubber gloves from hospitals and laboratories.

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The disposable segment to maintain the dominant share-

Based on product, the disposable segment garnered the highest market share in 2020, contributing to around two-thirds of the global rubber gloves market, and is projected to lead the trail by the end of 2030. Moreover, this segment is anticipated to showcase the fastest CAGR of 12.5% from 2021 to 2030. Increase in demand for disposable gloves from sectors such as food & catering, spa & saloons, photochemistry, automotive, and healthcare drives the growth of the segment.

North America garnered the major share in 2020-

Based on region, North America accounted for the major share in 2020, holding nearly two-fifths of the global rubber gloves market, due to extensive demand of rubber gloves from the R&Ds activities conducted in this continent. However, the market across Asia-Pacific is expected to cite the fastest CAGR of 15.0% throughout the forecast period.

Key players in the industry-

Hartalega Holdings Berhad Corporation
Atlantic Safety Products Inc.
Kimberly Clark Company
Kossan Rubber Industries Bhd
Mapa Professional
Ansell Ltd.
Supermax Corporation Berhad
Top Glove Corporation Bhd
Schield Scientific
Unigloves (UK) Limited

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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