Portland, OR – According to the report from Allied Market Research, 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 percent from 2021 to 2030.
Rise in demand for medical and healthcare applications and increase in demand from chemical, oil and 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, a surge in awareness towards hygiene practices presents new opportunities in the industry.
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 achieve the largest CAGR of 12.5 percent from 2021 to 2030. This is attributed to the rise in demand for rubber gloves from hospitals and laboratories.
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 percent from 2021 to 2030. Increase in demand for disposable gloves from sectors such as food and catering, spa and saloons, photochemistry, automotive and healthcare drives the growth of the segment.
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 for rubber gloves from the research and development activities conducted on this continent. However, the market across Asia Pacific is expected to cite the fastest CAGR of 15.0 percent throughout the forecast period.