The global disposable gloves market size is expected to reach USD 14.93 billion by 2025 at a 7.8% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The industry is anticipated to witness substantial growth over the forecast period owing to increasing demand in hospital and surgical applications.
Growing demand for the product in several industries including automotive, food and beverages, pharmaceuticals, chemical and petrochemical, oil and gas, mining, industrial R&D, academic R&D, and cleanrooms is expected to promote market growth over the forecast period. Stringent regulations regarding safety of workers will also benefit the market.
Rising importance of raw materials offering lightweight properties, comfort, higher heat resistance, and elasticity has been a major incentive for companies to conduct extensive R&D. These initiatives are primarily aimed at achieving multi-functionality of the product and widen its application scope by including innovative add-ons to existing designs.
Technological advancements and increasing concerns pertaining to employee health and safety are estimated to provide lucrative opportunities to market participants over the coming years. Product innovation and usage of sustainable raw materials for glove manufacturing are further estimated to positively impact the market over the next few years.
Curious to know more? (Request a Free Sample) Click the link below:
Further key findings from the report suggest:
- Natural rubber appeared as the largest raw material segment in 2017, accounting for 36.3% of the revenue. This is owing to superior properties and improved protection offered by the material in food processing and automotive industries
- By product, the powdered disposable gloves segment is expected to register a CAGR of 4.4% and is likely to witness sluggish growth over the forecast period owing to the ban implemented by FDA on powdered disposable gloves in January 2017
- Increasing use of disposable gloves in dental and veterinary fields for examination and surgeries is expected to drive demand for medical and healthcare applications. The segment accounted for a 70.1% of the revenue in 2017
- Asia Pacific is anticipated to exhibit a CAGR of 8.6% over the forecast period. Increasing product demand is attributable to growing utilization of disposable gloves in the hospitals and food and beverages sectors
- Major players have adopted sustainable solutions keeping in mind long-term benefits and procurement of high-quality raw materials. These materials are examined according to required standards for maintaining product quality.
