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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The Non-Tire Rubber market research report provides the latest industry data, growth, key segments and future trends on the basis of the detailed study.
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