The Industrial Hand Protection Gloves Market is estimated to be valued at US$ 11,485.1 million in 2023 and is expected to exhibit a CAGR of 11.20% over the forecast period from 2021 to 2028, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Industrial hand protection gloves help protect hands from risks such as cuts, burns, and chemical hazards. These gloves are made from various materials such as leather, rubber, nitrile, and kevlar to suit different working applications in industries such as manufacturing, construction, chemicals, and oil & gas. With stringent workplace safety regulations, industrial hand gloves have become a necessary part of personal protective equipment.

Market Dynamics:
Growth in the industrial hand protection gloves market is driven by the increasing focus on workplace safety and stringent regulatory norms pertaining to worker safety. Regulatory bodies such as Occupational Safety and Health Administration (OSHA) have set guidelines and standards for use of protective gear in various industries. Non-compliance can lead to penalties and lawsuits which is prompting industries to adopt appropriate industrial gloves. Furthermore, risk of various infections and diseases from chemical exposure is also boosting the demand for hand protection gloves. Materials like nitrile and neoprene used in glove manufacturing provide high chemical resistance. Growing industries like construction, automotive, chemical processing are further expected to support market growth over the forecast period.

SWOT Analysis

Strength: Industrial hand protection gloves provide safety to workers from hazards at workplaces like manufacturing, construction, chemicals etc. Gloves offer three layers of protection- cut resistance, chemical resistance and durability to withstand abrasions. They are cost effective in reducing workplace accidents and ensuring compliance to safety standards.

Weakness: Specialized gloves for specific industries and tasks can be quite expensive. Their disposal as biohazard waste increases cost burden. Frequent replacement is needed which impacts organizations expenditure. Selecting right glove for each job is complex process.

Opportunity: Growing awareness about workplace safety standards and regulations worldwide is driving the demand. Industries like oil & gas, automotive, healthcare are major markets needing specialized protection. Development of technologically advanced lightweight and breathable gloves can boost the market.

Threats: Stiff competition among existing players can lead to price wars. Substitute products availability like aprons, suits poses threat. Economic slowdowns can negatively impact construction and manufacturing sectors affecting demand. Rising raw material costs can compress profit margins.

Key Takeaways
The Global Industrial Hand Protection Gloves Market is expected to witness high growth, exhibiting a CAGR of 11.20% over the forecast period, due to increasing awareness about workplace safety compliance and stringent regulations.

Regional analysis
The Asia Pacific region dominated the industrial hand protection gloves market in 2021, with a share of over 35%, owing to strong presence of manufacturing hubs in China, India, Indonesia and rapid industrialization. Growing infrastructure development and construction activities are driving growth in the region.

Key players
Key players operating in the industrial hand protection gloves market are Kossan Rubber Industries Bhd, Uvex Group, 3M Company, COFRA Srl, Hartalega Holdings Berhad, MCR Safety, Top Glove Corporation Berhad, Midas Safety Inc., Protective Industrial Products, Inc., Ansell Limited, Honeywell, Kimberly Clark Corporation, and Alpha Pro Tech Limited. These players are focusing on new product launches and capacity expansion strategies to gain competitive edge.

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