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The cut resistant gloves market size is estimated to grow at a CAGR of 9.64% between 2022 and 2027. The market size is forecast to increase by USD 943.75 million. The accelerated growth of the market is due to various factors, including the risk of physical injuries in labor-intensive industries, stringent occupational safety regulations, and increasing product innovations.
This cut resistant gloves market report extensively covers market segmentation by type (disposable and reusable), end-user (automotive, metal fabrication, machinery and equipment, construction, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The risk of physical injuries in labor-intensive industries is driving market growth. There is increasing demand from industries such as automotive, construction, manufacturing, chemicals, and food processing due to them being labor-intensive. Due to this, workers face risks of impact-related hand injuries such as abrasion cuts, slicing cuts, and impact cuts. Accidents can cause cuts and chemical burns which might result in lacerations or even amputations.
For instance, the average cost of treating hand injuries may exceed 5,000 and may require at least 6-10 days off from work. Depending on the severity of the injury, treatment costs can vary from USD 2,000 to USD 10,000. 70% of workers who sustain hand injuries do not wear gloves while performing tasks, according to the Bureau of Labor Statistics. Hence, the rising prevalence of impact-related hand injuries during industrial activities and costs associated with treatment are resulting in employers mandating the usage of protective hand equipment by their employees. Hence such factors will boost market growth during the forecast period.
The adoption of modular cleanrooms is a key trend in the market. Modular cleanrooms are portable, standalone cleanroom structures primarily used in the production processes of components in industries such as aerospace, semiconductors, pharmaceuticals, medical devices, and optics. It offers a space devoid of dust and other contaminants and has advantages such as design flexibility and quicker assembly than conventional cleanrooms. Hence increasing usage of modular cleanrooms by industries will also result in rising demand for cut resistant gloves. These gloves made from polyethylene and polyurethane have good chemical resistance, low moisture sensitivity, and provide a good grip.
Moreover, the polyurethane coating allows protection against several chemicals and liquids while ensuring a good grip. chemicals and liquids while ensuring a good grip. Superior Gloves, a major company, offers products such as the Superior Touch 13-gauge seamless knit gloves, which ensure a great grip due to polyurethane palm coating. Moreover, it also offers touchscreen compatibility. Hence such innovative products offered by companies that comply with modular cleanroom standards will boost market growth during the forecast period.
The fluctuating prices of raw materials are challenging market growth. Latex is the primary raw material and it is derived from natural and synthetic rubber. Synthetic latex is produced by processing rubber, while natural latex is directly available in nature. Due to limited latex availability in certain countries, the prices of cut resistant gloves will be more in countries with reduced latex supply.
Moreover, supply-demand dynamics also result in the price volatility of synthetic latex. The manufacturing process associated with the production of synthetic latex used to make cut resistant gloves can end up costing a lot. Moreover, systemic imbalances will significantly impact the price of rubber and reduce the profit margins of cut resistant gloves due to them incurring more costs. Hence such factors will hinder market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Cut Resistant Gloves Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co. - The company offers cut resistant gloves such as 3M comfort grip glove CGXL CR, 3M comfort grip glove CGL CR, and 3M comfort grip glove CGXL CRE.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The disposable segment is estimated to witness significant growth during the forecast period. Disposable gloves are made of several materials including natural rubber, nitrile, vinyl, neoprene, and polyethylene each being used for different applications. Nitrile gloves are frictionless and puncture-resistant making them ideal for both industrial and individual end-users. The regulatory body in the US in charge of industrial usage of disposable gloves is the Occupational Safety and Health Association (OSHA). Industry-grade gloves can be used across industries including automotive, cleaning, and others.
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The disposable segment was the largest segment and was valued at USD 1,034.09 million in 2017. There is predicted to be increasing demand for the disposable segment of cut resistant gloves from cleanrooms. Cleanroom gloves can be used in aseptic environments in industries such as food processing, chemicals, automotive, construction, and semiconductor fabrication. The growth of these industries will also increase the demand for disposable gloves, indicating further segment growth during the forecast period.
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APAC is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Another region offering significant growth opportunities to vendors is North America. North America is the largest regional market due to its dominance in various industries like automotive production, construction, chemicals, and aerospace that extensively use cut resistant gloves as protective workwear. In particular, the growing construction industry due to growing demand from home buyers will have a positive impact on the market.
Moreover, increasing infrastructure investments by regional governments will also drive market growth. For instance, the US government announced an investment of USD 1 trillion in several infrastructure development plans, including the construction of airports, hospitals, and schools. The Mexican government is also increasing investment to provide affordable housing by offering housing funds and subsidies. This will boost the construction industry in the county and also increase the demand for cut resistant gloves. Additionally, the need to comply with occupational safety regulations such as those issued by the Department of Labor (DOL) agencies such as OSHA, Mine Safety and Health Administration, and Bureau of Labor Statistics will also propel the market growth during the forecast period.
In 2020, the COVID-19 outbreak negatively impacted the cut resistant gloves market due to the ceasing of operations of end-user industries like automotive, metal fabrication, and construction industries. However large-scale vaccination drives in the region resulted in an easing of operations and resulted in end-user industries resuming operations which boosted demand for cut resistant gloves. Hence such factors will propel the cut resistant gloves market growth in APAC during the forecast period.
The cut resistant gloves market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Cut Resistant Gloves Market Scope |
|
Report Coverage |
Details |
Page number |
174 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 9.64% |
Market growth 2023-2027 |
USD 943.75 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
8.78 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
APAC at 32% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., Ansell Ltd., Bob Dale Gloves and Imports Ltd., Bunzl Plc, Delta Plus Group, Dexter Russell Inc., Forney Industries Inc., Globus Shetland Ltd., Honeywell International Inc., Kimberly Clark Corp., Kossan Rubber Industries Bhd, Magid Glove and Safety Manufacturing Co. LLC, Mechanix Wear LLC, Midas Safety Inc., Protective Industrial Products Inc., Stark Safe, Superior Glove Works Ltd., TOWA CORP., UVEX WINTER HOLDING GmbH and Co. KG, and Wells Lamont Industrial LLC |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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