Latex Gloves Market: Industry Analysis and Forecast (2023-2029)

Latex Gloves Market Overview:

Latex Gloves Market is expected to reach US$81,885.88 million by 2030 at a CAGR of 13.1% during the forecast period. Disposable gloves primarily serve as a barrier against infection between consumers and service providers. These gloves are mostly utilised in the food, healthcare, cleaning, and chemical industries. Furthermore, several disposable glove variations have been produced, including nitrile, natural rubber, neoprene, and vinyl.  Each of these types has distinct advantages over traditional (typically rubber) gloves and has a wide range of applications in numerous industries, including food service, clean room, and industrial applications.

 

Nitrile gloves, for example, are less frictional, more puncture-resistant, and have a longer shelf life than latex gloves. As a result, nitrile gloves are utilized by tattoo artists, medical and dental professionals, spas and salons, and laboratories because they provide protection and are very puncture resistant.

 

 

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Latex Gloves Market Dynamics:

Due to rising safety and hygiene concerns, the disposable latex gloves market have grown in popularity over the years. Furthermore, an increase in the number of end-users, combined with technological advances, will likely aid in market expansion.

 

However, hazardous responses induced by gloves, as well as high price rivalry from local manufacturers, are expected to stymie the disposable gloves market's expansion. Accelerators and other chemicals that are used in the production of latex and non-latex gloves, for example, can cause allergic reactions such as irritating contact dermatitis. Furthermore, introducing disposable gloves into undeveloped nations creates significant market potential.

 

The latex Gloves market is growing due to increased product demand in the medical and healthcare, pharmaceutical, automotive finishing, chemicals, and oil and gas industries.

 

Furthermore, the healthcare business in major developing nations is predicted to grow significantly as a result of various factors, including increased investment in both the public and private sectors, population expansion, and an increase in the geriatric population. Furthermore, an increase in healthcare expenditure is likely to promote the growth of the healthcare business, which in turn is expected to fuel product demand. Occupational safety requirements have a significant impact on the development of the disposable glove industry.

 

Agency-mandated requirements for enterprises to preserve worker safety in industries are expected to fuel market demand of the Latex Gloves Market over the forecast period. Rapid development in developing economies like Southeast Asia is projected to boost demand.

 

Latex Gloves Markey- COVID-19 effect:

The pandemic has a favourable impact on the disposable Latex gloves market. Furthermore, due to the virus's rapid transmission, healthcare professionals involved in specimen collection must wear suitable protective equipment, including gloves, to avoid becoming infected.

 

Furthermore, disposable gloves are an essential component of the personal protective equipment (PPE) worn by healthcare personnel. As a result, the rising prevalence of contagious diseases and COVID-19 is expected to drive the disposable gloves market throughout the forecast period.

 

Although the COVID-19 pandemic is still transforming the growth of numerous industries, the outbreak's immediate impact differs. Furthermore, the latex Gloves market has experienced unexpected growth as a result of the COVID-19 outbreak, owing to increased demand for disposable gloves around the world.

 

Latex Gloves Market Segmentation:

On the basis of Type, the latex gloves market has been segmented into powder and powder-free. The powder-free rubber gloves segment dominated the latex gloves market, accounting for 70.9 % of total sales.Over the anticipated period, the segment is expected to grow at a CAGR of 15.8%. These rubber gloves are chlorinated, which causes them to become less form-fitting in order to prevent the need for powder for ease of wearing and removal. Because of their popularity in various industries, including medical, food processing, and chemical, demand for these rubber gloves is predicted to rise over the forecast period.

 

The demand for powdered rubber gloves is predicted to increase over the forecasted period because the powder aids in easier donning and removal, provides a firmer grip, and results in reduced sweat and moisture inside the gloves. Cornstarch and calcium carbonate are the two most commonly utilized powders. However, health authorities have established a variety of restrictions on the use of powders in rubber gloves in order to prevent any form of skin sensitivity.

 

On the basis of product, the latex gloves market has been segmented into Disposable and Durable. The disposable latex rubber gloves segment led the market, accounting for 71.2% of sales. Over the anticipated period, the segment is expected to grow at a CAGR of 15.1%. Workers in the medical and food processing industries are predicted to have a significant demand for disposable rubber gloves. They must use several pairs of rubber gloves for different tasks, and disposable gloves are designed for single-use and are cost-effective.

 

 

Due to the global breakout of the COVID-19 pandemic, the need for disposable rubber gloves has increased significantly since 2020, raising the demand for Personal Protective Equipment, thereby raising the demand in the Latex Gloves market. To reduce cross-contamination, healthcare personnel are now using disposable gloves only once.

 

Rubber gloves are made to withstand rigorous use in oil and gas, construction, chemicals, and automotive industries. They may be reused numerous times and provide durability, strength, low waste output, and other environmental benefits. Furthermore, these rubber gloves are thicker than disposable gloves, provide superior tear resistance, and assure better hand safety.

 

Based on the material, the latex gloves market has been segmented into latex, neoprene, nitrile and others. Due to their use in numerous industries such as, medical and healthcare, food processing, oil and gas, and chemicals for protection against hand injuries and infections. It accounted for the most significant revenue share of 41.2 % in 2019. The FDA has approved latex gloves for chemical handling and medical surgeries, so demand for them is projected to skyrocket.

 

By 2030, the nitrile segment is expected to grow at a 15.8 % CAGR. Nitrile gloves have many qualities, including excellent barrier protection, heat resistance, and chemical resistance. Furthermore, compared to vinyl and latex gloves, these rubber gloves give better protection against chemical burns. Hence their market growth is predicted to be higher. Neoprene is created through the polymerization of chloroprene. When compared to latex and nitrile gloves, neoprene-based gloves have a higher resistance to stretching, resulting in a snug fit and a better grip. Because of the aforementioned properties, demand for these rubber gloves is predicted to be high among food preparation personnel, laboratory workers, and medical professionals.

 

Isoprene rubber, chloroprene, silicone rubber, and butyl rubber are other materials used to make rubber gloves. High heat and chemical resistance, combined with outstanding release qualities, is expected to drive segment growth during the projection period. Furthermore, increased government spending on healthcare in several emerging countries will fuel the market.

 

On the basis of distribution channel, the latex gloves market has been segmented into physical and online mediums of channel. The physical distribution channel segment dominated the market, accounting for 69.1 %of total revenue. This segment is anticipated to grow at a Compounded annual growth rate of 10.0 % over the forecasted period because it provides simple supply chain management, with gloves made and delivered to end customers via wholesalers and retailers. This also allows customers to buy gloves whenever they want, according to their tastes.

 

The physical distribution route is vital in rural areas where the internet distribution channel does not serve or has excessive delivery fees. However, due to the global outbreak of the COVID-19 pandemic, when governments in many nations implemented stringent lockdowns, and customers avoided venturing outside, the adoption rate of online channels has skyrocketed.

 

Because of the significant breakthroughs and developments in the e-commerce business, the online distribution channel segment of the Latex Gloves Market is predicted to increase rapidly over the projection period. However, delivery timeframes can be lengthy in some cases due to a lack of availability or the remoteness of the delivery address.

 

On the basis of End-use, the latex gloves market has been segmented into Medical & Healthcare, Automotive, Oil & Gas, Food & Beverage, Metal & Machinery, Chemical & Petrochemical, Pharmaceutical, Cleanroom, Other.

 

Due to their widespread use among doctors and patients for reducing cross-contamination and pathogen transmission during medical tests and procedures, medical and healthcare led the market and accounted for the most significant revenue share of 69.8 % in 2019. Furthermore, the global expansion of the COVID-19 pandemic is predicted to raise the demand for examination gloves among healthcare personnel for testing and examination.

 

The Latex Gloves Market demand in the automotive industry is expected to grow at a 7.9 % CAGR from 2023to 2030. Workers in the automotive industry face a variety of occupational hazards, ranging from sharp edges and tools to hazardous chemicals and substances. These rubber gloves are chemically resistant to grease, oil, and gasoline, preventing mishaps.

 

Rubber gloves are commonly used in the oil and gas business because people are exposed to heavy-duty equipment such as chains, pipes, and tools, as well as the risk of crush, cut, puncture, and chemical irritation. Rubber gloves provide exceptional grip in these situations and allow them to operate various tools and machinery safely.

 

Rubber gloves are predicted to grow at a CAGR of more than 9.0 % in the food and beverage industry. They provide an extra level of sanitation during numerous activities such as preparing, handling, and washing meat, fish, poultry, etc, desserts, vegetables, and drinks. Furthermore, these rubber gloves protect against food-borne infections.

 

Latex gloves market Region Insights

On the basis of the region, the latex gloves market has been segmented into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Europe led the market, accounting for around 35.0 %latex glove of total revenue. Rubber gloves are in high demand in the region because of the increasing demand for protective gloves in industries such as food and beverage, metal manufacturing, oil and gas, automotive, and chemicals. Furthermore, the rapid spread of the pandemic in countries such as Germany and Italy has increased demand for rubber gloves in the medical business.

 

The increase in medical and healthcare expenses in North America can be ascribed to people becoming more aware of protecting themselves against various infections and infectious diseases. Furthermore, increased hygiene spending by people in the food and beverage industry is likely to fuel the market in the following years. Rubber glove demand in the Asia Pacific is predicted to rise substantially. This can be linked to government expenditures in many developing countries such as India, South Korea, Thailand, and the Philippines to grow the medical industry and encourage medical tourism to gain foreign cash.

 

Governments in key economies affected by the COVID-19 epidemic, including China, the United Kingdom, the United States, Germany, Brazil, Italy, and India, are investing extensively in the construction of supply chains for medical products like as gloves masks, and sanitizers, thereby raising the demand for the latex gloves market.

 

The report aims to provide stakeholders in the Latex Gloves market with a detailed market outline. The research discusses the most critical Latex Gloves sector trends and how these trends will impact future business investments and marketing strategies throughout the forecast period. By studying market leaders, market followers, and regional players, the report also aids in the understanding of the Latex Gloves Market dynamics, economic fundamentals, and competitive structure.

 

The qualitative and quantitative data in the Latex Gloves Market research will help determine which market segments, regions, and influencing factors are expected to grow at faster rates and significant opportunity areas that will drive the market and market growth during the projected period.

 

The competitive landscape of essential players in the market and their recent advances in the Latex Gloves Market is also included in the report. The study examines company size, market share, market growth, revenue, production volume, and profitability of the Latex Gloves Market's major players.

 

 

This report aims to provide a comprehensive analysis of the Latex Gloves Market and highlight the significant trends and growth opportunities. The report offers Porter's Five Force Model for analysis of the Latex Gloves Market, which helps design the business strategies in the market. The study aids in determining the number of rivals, who they are, and the performance of the products in the industry.

 

The analysis also examines whether the Latex Gloves Market is open to new entrants, whether they enter and exit the market regularly, and whether a few players dominate it.

 

The report also includes PESTEL Analysis, which aids in developing company strategies. Numerous elements affect growth and profitability. A PESTEL study can assist in determining the significance and strength of these elements.

 

It helps firms decide which characteristics are beneficial and which are not. PESTEL is a word that stands for Political, Economic, Socio-cultural, Technological, Environmental, and Legal. These variables take on added significance for organizations functioning in a global setting.

 

Latex Gloves Market Scope:

Latex Gloves Market
Market Size in 2023	USD 27320.43 Mn.
Market Size in 2030	USD 64673.42 Mn.
CAGR (2024-2030)	13.1%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Powder Powder-free
	By Product Disposable Durable
	By Material Latex Neoprene Nitrile Others
	By Distribution channel Physical Online
	By End-use Automotive Medical & Healthcare Oil & gas Food & Beverage Metal & machinery Chemical & petrochemical Pharmaceutical Cleanroom Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Latex Gloves Market: Key players and their Insights:

The Latex Gloves Market has become competitive. Various industry players have adopted product launches and business expansion as their developmental strategies to expand their market share, increase profitability, and remain stable in the market.

 

To grow their product range and acquire a competitive edge in the industry, key players in the market are employing various business tactics such as business expansion. To strengthen their market position, significant organizations in the industry are pursuing various business strategies such as mergers and acquisitions.

 

Latex Gloves Market Key Players :

• Ansell Ltd. (US)
• Top Glove Corporation Bhd (Malaysia)
• Hartalega Holdings Berhad (Malaysia)
• Unigloves Limited (UK)
• The Glove Company (Australia)
• MAPA Professional (France)
• Cardinal Health (US)
• Top Glove Corporation Bhd (Malaysia)
• Kossan Rubber Industries Bhd (Malaysia)
• Supermax Corporation Berhad (Malaysia)
• Clean Q Grip (Malaysia)
• SHIELD Scientific (The Netherlands)
• Rubber (Malaysia)
• Dynarex Corporation (US)
• Semperit AG Holding (Vienna, Austria)