Hand Protection Equipment Market Forecasted to Grow at Steady Pace During 2021-2028: Grand View Research Inc.

 Hand Protection Equipment Market Growth & Trends

The global hand protection equipment market size is expected to reach USD 30.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2019 to 2028. The rising awareness among industry participants pertaining to the importance of worker security and safety at workplaces on account of the stringent regulations is expected to drive the market.

Companies have established safety guidelines and prioritized worker safety to reduce workplace hazards, thereby limiting the adverse impact on the overall operational costs in the form of arbitrated settlements or compensation. The demand for hand protection equipment in the healthcare sector is witnessing growth with the rising prevalence of infectious diseases.

Increasing awareness about the safety and health measures related to emergency response occurrences coupled with the treatment of patients is anticipated to augment the demand for hand protection equipment in the healthcare sector. Moreover, risks associated with on-the-job transmission of blood-borne pathogens have the increased adoption of hand protection.

Manufacturers of hand protection equipment are focusing on the expansion of production facilities to increase the production capacity. For instance, In March 2020, Hartalega purchased land to expand its glove production facilities in Sepang, Malaysia, as the demand for hand protection has surged owing to the COVID-19 pandemic.

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Hand Protection Equipment Market Report Highlights

• The durable gloves segment dominated the market and accounted for 56.5% of the global revenue share in 2020 owing to the increasing demand for high utility and durable protective gloves in various industries such as oil and gas, mechanical, machinery, and refining
• The demand for nitrile gloves is estimated to witness a CAGR of 7.2% over the forecast period owing to their ability to provide high puncture resistance, excellent barrier protection, and high durability
• The penetration of hand protection equipment in the healthcare industry is estimated to witness a CAGR of 8.8% over the forecast period, on account of the increasing product adoption to limit the spread of COVID-19 infection caused through surface contact
• Europe accounted for 31.0% of global revenue share in 2020 owing to the presence of stringent norms concerning occupational health and safety established by regulatory bodies European Commission and the European Committee for Standardization
• India is expected to witness a CAGR of 9.4% over the forecast period, on account of the growing concerns regarding high-risk activities in the construction and manufacturing sectors
• Manufactures of the market are focusing on introducing new technologies for manufacturing gloves and integrating them across various stages of the value chain in order to gain a competitive edge in the market

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Hand Protection Equipment Market Segmentation

Grand View Research has segmented the global hand protection equipment market on the basis of product, raw material, end use, and region:

Hand Protection Equipment Product Outlook (Revenue, USD Million, 2017 - 2028)

• Disposable
• Durable

Hand Protection Equipment Raw Material Outlook (Revenue, USD Million, 2017 - 2028)

• Natural rubber/latex
• Nitrile gloves
• Neoprene
• Vinyl gloves
• Others

Hand Protection Equipment End-use Outlook (Revenue, USD Million, 2017 - 2028)

• Construction
• Manufacturing
• Oil & Gas
• Chemicals
• Food
• Pharmaceuticals
• Healthcare
• Transportation
• Mining
• Others

Hand Protection Equipment Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • Russia
  • Spain
  • UK.
• Asia Pacific
  • Australia
  • China
  • India
  • Japan
  • South Korea
• Central & South America
  • Argentina
  • Brazil
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE

List of Key players of Hand Protection Equipment Market

• Top Glove Corporation Bhd
• Hartalega Holdings Berhad
• Superior Gloves
• Adenna LLC
• MCR Safety
• Atlantic Safety Products, Inc.
• Ammex Corporation
• Kimberly-Clark Corporation
• Sempermed USA, Inc.
• Halyard Health, Inc.
• Medline Industries, Inc.
• Cardinal Health
• Kossan Rubber Industries Bhd
• Globus (Shetland) Ltd.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.