Sellbyville, DE -- (SBWire) -- 10/19/2018 --Europe industrial safety gloves market will witness a CAGR over 7% from 2018 to 2024. Stringent government guidelines and regulations pertaining to the use of protective wear and its quality benchmarks will promote product penetration in the region. HSE provides a regulatory framework for workplace wellness in Great Britain. High applications and requirement of the product in major countries, including Germany and Russia will drive the overall regional industry growth.
Latin America industrial safety gloves market will surpass USD 700 million by 2024. Rapid industrialization, rising awareness about security in industries, and the implementation of protective regulations are among the major growth drivers in the region. The region receives its supply majorly from Southeast Asia and various countries that have trade agreements with glove manufacturing countries.
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Industrial Safety Gloves Market size is estimated to surpass USD 9 billion by 2024. Surging awareness towards workers' security in mining, construction, chemical, healthcare, oil & energy, and machinery industries will propel industrial safety gloves market growth. Improved regulatory scenario to reduce occupational risk across the various industries is likely to boost product penetration.
During handling sharp edge materials such as glass, metal, or abrasion materials require cut resistance gloves to achieve superior quality finished products will instigate demand. Chemicals and oil & gas industry will remain the key contributor, as these jobs possess high accident probability. Worker and employees are highly recommended for wearing hand protection measures under organizational rules and regulations for lower accidental chances escalating industrial safety gloves market growth.
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Natural rubber industrial safety gloves market is projected to surpass 4 billion units by 2024. Natural rubber latex is used in the manufacturing process owing to the resistance offered by it against acids, iodine, chlorine, formaldehyde and bases. Increasing natural rubber protective glove usage in the manufacturing and food processing applications will augment the product portfolio. Key properties such as high durability, dexterity, fitting and comfort along with environmentally friendly and cost-effective will further boost the business expansion.
Automotive application of the industrial safety gloves was valued over USD 1.5 billion in 2017. Major applications in the automotive industry, including press shop operations, dexterity applications, body painting and assembling operations. Surging numerous machinery handling by the workers in the automotive sector owing to the shifting consumer preferences towards the electric vehicle segment will propel the overall industry landscape.
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Global industrial safety gloves industry share is consolidated, as leading companies hold more than 70% share. Supermax Corporation, Latexx partners, Hartalega, Kossan, Ansell and Top Gloves are key industry players. Other key companies include Showa, Towa Corporation, Longcane Industries, Dipped Product, Rubberex, RFB, Honeywell International, Acme, Riverstone Holding, and MCR.
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Industrial Safety Gloves Market Growing at 7% CAGR by 2024 : Top Gloves, Ansell, Hartalega, Supermax Corporation, Acme, MCR Safety, Honeywell, Towa Corporation and Rubber
Mechanical industrial safety gloves market will witness over 7.5% CAGR in terms of revenue up to 2024. These products are highly durable and work effectively in machinery manufacturing, handling and maintenance.