Portland, OR -- (SBWire) -- 06/27/2017 --Disposable Gloves Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $17,242 million by 2022, registering a CAGR of 12.6% during the period 2016-2022. The natural rubber gloves segment accounted for around three-fifths revenue share, in 2015 and is expected to maintain its dominance during the forecast period. Europe and Asia-Pacific together accounted for around half of the market in 2015.
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The market for disposable gloves is primarily driven by its requirement in medical and surgical applications to ensure safety and hygiene. The other factors that drive the market are rising adoption of disposable glove usage among users from industries such as pharmaceuticals, food & beverages, etc. Nevertheless, some of the restraints associated with disposable gloves business attractiveness is price-based competition due to emergence of domestic players and toxic side effects arising due to usage of gloves. However, the impact of this limitation is anticipated to diminish in future due to ongoing improvements in production of disposable gloves.
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In terms of revenue generation, non-powdered disposable gloves accounted for major share of the global disposable gloves market in 2015, and is projected to maintain this trend throughout the forecast period growing at a CAGR of 13.2%.
Natural rubber gloves are the most popular and conventional glove solution and it is projected to reach to $6,614 million by 2022 growing at CAGR of 12.0%. Non-powdered disposable gloves segment is expected to continue its dominant revenue share in the global market, due to benefits such as lower risk of side effects. Non-powdered gloves are anticipated to experience higher adoption rate, growing at a CAGR of 13.2% during the forecast period.
In 2015, medical gloves accounted for highest revenue share and it is expected to grow at a CAGR of 6.2% during the forecast period. The use of medical gloves for examination activities are expected to drive the market for medical applications whereas usage of non-medical gloves in food service industry and cleanroom activities is projected to drive the market of non-medical applications.
Key Findings of Disposable Gloves Market:
-Polyethylene gloves are projected to be the fastest growing segment in terms of volume, growing at a CAGR of 14.3% during the forecast period.
-Natural rubber gloves would be the highest revenue generating segment followed by vinyl gloves during 2016-2022.
-In 2015, non-powdered glove was the leading segment both in terms of value and volume and is projected to grow at a CAGR of 13.2% and 12.7% respectively.
-Use of powdered gloves was highest in the North American region, covering approximately 40% of the global market share.
-In 2015, Europe accounted for approximately three-fifths share of the global disposable gloves market in terms of value.
-Asia-Pacific is estimated to be the fastest growing region in disposable gloves market, growing at a CAGR of 14.9%, in terms of value, from 2016 to 2022.
-Mexico is projected to be the fastest growing country in the North America region growing at a CAGR of 13.8% in terms of volume.
-China and Japan are the leading country markets for disposable gloves in the Asia-Pacific region.
North America dominates the disposable gloves market. The market growth in North American region is primarily a reflection of new product innovations resulting from technological advancements. Introduction of advanced products such as puncture-resistant gloves, temperature-resistant gloves, and others has also fueled the growth of this market. Europe and Asia-Pacific together accounted for around half of the market in 2015.
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The companies mostly adopted product launch, acquisition, and expansion as their key strategies to keep pace with the changing demands of consumers and strengthen their market position. The key players for this market include Supermax Corporation Berhad, Hartalega Holdings Berhad, Semperit AG Holding, Kossan Rubber industries ltd, Rubberex, Top Glove Corporation Berhad, Adventa Berhad, Ansell Healthcare, Cardinal Health, Inc., and Dynarex Corporation.
Disposable Gloves Market to Reach $17,242 Mn, by 2022
Disposable gloves market growth is attributed to rising concern for safety and hygiene, growing industrialization coupled with advanced manufacturing technologies. Market players have successfully developed gloves with different properties such as higher resistance against chemicals, greater anti-tear properties and gloves with limited thickness thereby not affecting the donning and doffing process, which is anticipated to create huge opportunities for the growth of disposable gloves industry