As Asia Pacific Turns Manufacturing Hub, Industrial Gloves Market Flourishing

Industrial gloves are majorly used to protect the hands of the workers from being damaged by heat, exposure to corrosive materials, and several types of harmful chemicals. Many manufacturing units and factors use chemicals, corrosive materials, and heat that can severely harm those working therein. Industrial gloves find a major use in the chemical and healthcare industries, which in turn is fueling the demand for the same. Additionally, apart from the protection that they provide, the gloves are designed to provide the utmost comfort to the wearers, which improves efficiency. Moreover, the gloves do not restrain the dexterity or sensitivity that is required while working.

According to a recent report by Transparency Market Research (TMR), Asia Pacific industrial gloves market was worth US0.66 bn in 2016, and will reach a valuation of US$1.25 bn by the end of 2025, increasing at a CAGR of 7.6% between 2017 and 2025. The prosperity of pharmaceutical, healthcare, chemicals, and food industries, growing awareness about worker safety, government regulatory mandating the use of industrial gloves, and the introduction of innovative products by major manufacturers are some of the prominent drivers of the Asia Pacific industrial gloves market. On the other hand, absence of local and inexpensive products and lack of awareness regarding industrial gloves is hindering the market from reaching its true potential in the emerging region of Asia Pacific.

Which segments are most profitable?

Based on product, the TMR report segments the Asia Pacific industrial gloves market into disposable and re-usable. Out of these, disposable gloves are the most common type of gloves among the workers in the end-use industries such as pharmaceutical, chemical, and food among others. The demand for disposable gloves is primarily drive by its low cost compared to re-usable gloves.

Materials-wise, the report segments this market into rubber or latex, polyethylene, nitrile, vinyl, and neoprene. Among these, rubber gloves currently dominates the market, and although the dominance is reducing owing to latex related allergies, this segment is expected to remain most profitable throughout the forecast period. Based on end-use industries, food, chemical, and pharmaceutical industries are by far the most prominent contributors to the industrial gloves market in Asia Pacific.

Country-wise, the report rates Malaysia as most lucrative region, with vast opportunities available in India and China who are quickly turning into a manufacturing hub for several industries.

What is the nature of competition in the Asia Pacific industrial gloves market?

As per the TMR report, the industrial gloves market in Asia Pacific is quite consolidated, with four companies reserving 61% of the market in 2016. These four companies were Kossan Rubber Industries Bhd, Top Glove Corporation Bhd, Supermax Corporation Bhd, and Hartalega Sdn Bhd. Acquisition of local players and aggressive expansion of their manufacturing capacities are two of the primary strategies of these leading players to maintain their stronghold over the market.


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