Global rubber glove market forecast at $122.5 billion by 2030
Portland, OR – Allied Market Research published a research report on the rubber gloves market. The findings of the report state that the global market for rubber gloves generated $34.0 billion in 2020, and is expected to garner $122.5 billion by 2030, witnessing a CAGR of 12.2% from 2021 to 2030. The report offers valuable information on evolving market trends, major segments, top investment pockets, and key competitors for market players, investors, shareholders, and new entrants.
Eswara Prasad, the Manager, Materials & Chemicals at Allied Market Research, highlighted, “The rise in hygiene care in hospitals led increased the consumption of rubber gloves by sweepers and nurses. Moreover, extensive use of these gloves in oil & gas and automotive application also benefits the market growth. The pandemic has also helped boost the market growth with increased demand from the general public.”
The report offers an in-depth analysis of drivers, restraints, and opportunities to help market players in devising strategies and capitalizing on potential market opportunities. Rise in demand from medical and healthcare applications and rapid demand from the chemical, oil & gas, and petrochemical industry drive the global rubber gloves market. However, low tactile sensitivity of nitrile gloves and latex sensitivity hamper the market growth. On the contrary, growing awareness of hygiene practices presents new opportunities in the upcoming years.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the millimeter wave technology market globally. A disruption in raw material supply led to a slowdown of manufacturing activities, thus impacting the global rubber glove market negatively. According to the Malaysian Rubber Board demand for rubber gloves from the healthcare and residential sectors increased significantly. Simultaneously, the majority of government agencies have made significant investments in the manufacture of disposable medical gloves. Additionally, people are becoming more aware of the health and safety benefits of wearing hand gloves, thus accelerating market growth.
Based on type, the powder-free segment held the largest market share in 2020, accounting for more than two-thirds of the global rubber gloves market share, and is expected to dominate the market throughout the forecast period. Moreover, the same segment is expected to witness the largest CAGR of 12.5% from 2021 to 2030. This is owing to the rise in demand for rubber gloves from hospitals and laboratories.
Based on product, the disposable segment dominated the market share in terms of revenue in 2020, accounting for around two-thirds of the global rubber gloves market, and is anticipated to lead the trail by the end of 2030. Moreover, the same segment is expected to witness 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.
Based on region, North America dominated the market share in 2020, accounting for nearly two-fifths of the global rubber gloves market, due to extensive demand for rubber gloves from the R&Ds activities conducted in this continent. However, the market across Asia-Pacific is expected to manifest the fastest CAGR of 15.0% throughout the forecast period.
The leading market players analyzed in the global rubber gloves market report include Hartalega Holdings Berhad Corporation, Ansell Ltd., Kimberly Clark Company, Top Glove Corporation Bhd, Kossan Rubber Industries Bhd, Supermax Corporation Berhad, Atlantic Safety Products Inc., Schield Scientific, Unigloves (UK) Limited, and Mapa Professional.