As workplace safety continues to gain major traction across myriad manufacturing domains, industrial safety gloves market is certain to witness an enterprising change in terms of robust product sales and popularity. The reason behind why safety measures has turned out to be a vital axiom in modern industries is quite coherent with its pronounced impact on the supply chain model. In fact, as it has been observed, companies that invest in efficient safety management program have significantly improved their business outcomes in terms of revenue streams. Not to mention, the dynamically changing personal protection equipment industry landscape is certain to have a perpetual influence on industrial safety gloves industry size, that was pegged at USD 4.3 billion in 2017.
North America Industrial Safety Gloves Market, By Material, 2017 & 2024, (USD Million)
The marketplace is ablaze with abundance of innovations by renowned companies that have been scrupulously planning to effectuate commercialization of novel worker safety products. In this regard, the launch of AlphaTec® 58-735 in the industrial safety gloves market place is worth mentioning. Elaborating further on the subject, Ansell, one of the renowned names in the industrial safety gloves market, has introduced this multi-hazard nitrile glove that claims to address all the potential workplace hazards in one solution- providing chemical protection and cut defense in addition to offering exceptional grip and comfort.
While the green outer nitrile shell ensures excellent chemical resistance, the HI-VIZ™ INTERCEPT® yarn on the inner layer allows extraordinary comfort and high-performance cut protection. On grounds of its unique combination of features, experts have been already raving about the product, claiming it to be disruptive across various hazard prone sectors like chemical, oil &gas, food & beverage, machinery manufacturing etc. The instance further depicts the strong stance held by the nitrile gloves in the industrial safety ecosphere. As per estimates, nitrile industrial safety gloves market is forecast to record a CAGR of 8% over 2018-2024.
An insight into industrial safety gloves market in terms of regulatory framework:
Industrial safety gloves market, in the past few years, has indeed traversed a profitable path, even further than expected. The competitive spectrum is claimed to be quite consolidated with the presence of leading giants like Latexx Partners, Hartalega, Ansell, Supermax Corporation, Top Glove, Honeywell International, Riverstone Holdings, and MCR, having held almost 70% of the global Industrial Safety Gloves Market share in 2017. These biggies, as it is observed lately, have been adopting various contemporary as well as tried and tested tactics to gain a competitive edge. Amidst this intense share battle, product differentiation stands to be one of the major parameters underlining the competitive hierarchy of the industry players. With such a rich product pipeline and the increasing emphasis to ensure workplace safety, industrial safety gloves market is certain to witness a slew of opportunities in the years ahead. Overall, the business space is projected to record a massive revenue of USD 7.2 billion by 2024.