Industrial safety gloves market size is estimated to surpass USD 9 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising awareness about the workers' wellbeing and the increasing number of occupational fatalities in the manufacturing sector will be the key impetus for the industrial safety gloves market penetration. Standards set by the OSHA, American National Standard for Hand Protection (ANSHP), and EU standards will encourage industrialists to take protective measures against workers' safety.
Industry expansion has propelled the requirement of safety gloves for protecting workers from metal cuts, chemical hazards, and high-temperature sources in their daily routine. Shifting focus of the business owners to have prevention against the mechanical hazards, including electric shock, radiation, and microbial contamination risks will enhance product adoption.
Latin America industrial safety gloves market will surpass USD 700 million by 2024. Rapid industrialization, rising awareness about security in industries, and the implementation of protective regulations are among the major growth drivers in the region. The region receives its supply majorly from Southeast Asia and various countries that have trade agreements with glove manufacturing countries.
Europe industrial safety gloves market will witness a CAGR over 7% from 2018 to 2024. Stringent government guidelines and regulations pertaining to the use of protective wear and its quality benchmarks will promote product penetration in the region. HSE provides a regulatory framework for workplace wellness in Great Britain. High applications and requirement of the product in major countries, including Germany and Russia will drive the overall regional industry growth.
Mechanical industrial safety gloves market will witness over 7.5% CAGR in terms of revenue up to 2024. These products are highly durable and work effectively in machinery manufacturing, handling and maintenance. Increasing workers' protection concerns against higher mechanical risk associated with several industries including construction, automotive, mining, manufacturing, steel, machinery, and the equipment industry will enhance the overall business expansion.
Natural rubber industrial safety gloves market is projected to surpass 4 billion units by 2024. Natural rubber latex is used in the manufacturing process owing to the resistance offered by it against acids, iodine, chlorine, formaldehyde and bases. Increasing natural rubber protective glove usage in the manufacturing and food processing applications will augment the product portfolio. Key properties such as high durability, dexterity, fitting and comfort along with environmentally friendly and cost-effective will further boost the business expansion.
The global industry share is highly fragmented with the presence of large number of multinational as well as regional manufacturers.