South America Asbestos Gloves Market: Industry Overview and Forecast (2023-2029)
South America Asbestos Gloves Market is expected to grow at a CAGR of 2.9% during the forecast period. South America Asbestos Gloves Market is expected to reach US$ 44.64 Mn. in 2029 from US$ 36.55 Mn in 2022.
Format : PDF | Report ID : SMR_728
South America Asbestos Gloves Market Overview:
The South America Asbestos Gloves Market was valued at USD 36.55 million in 2022, and is estimated to grow at a CAGR of 2.9 percent to USD 44.64 million by 2029. The South America Asbestos Gloves Market is studied by segments like Type (Two Fingers, Five Fingers), Application (Construction, Mining, Steel Plants, Glasswork, Firefighting, chemical and others) and Region (South America, Europe, Asia-Pacific, and Rest of the World). The report consists of the Trend, Forecast, Competitive Analysis, and Growth Opportunities of the market.
For the forecast period of 2023 to 2029, the report provides a complete analysis that reflects today's South America Asbestos Gloves Market realities and future market prospects. To provide a comprehensive perspective of the market, the research segments and analyses it in great detail. The key data and observations offered in the study can help market participants and investors identify low-hanging fruit in the market and build growth strategies.
COVID-19 Impact on South America Asbestos Gloves Market:
During the Covid-19 pandemic that lasted for more than 2 years, numerous industries' operations had either been temporarily shut down or were operating with a reduced staff due to government-imposed lockdowns and limitations. This is no different in the South American Asbestos Glove market, and this aspect is expected to have a substantial negative impact on the industry's revenue growth. Furthermore, the high costs of installing and maintaining of the equipment may limit the Asbestos Glove market's revenue growth throughout the forecast period globally.
South America Asbestos Gloves Market Dynamics:
South American countries like Brazil, Bolivia, Cuba, Uruguay, Panama, and Costa Rica are significantly increasing their spending in employee safety. In 2021, Cuba, for example, had the highest employee safety and healthcare spending of any Latin American country, at more than 11.7 percent. These measures are accelerating the expansion of South America's Asbestos Gloves Market.
The adoption of various safety protection programs in South America which are related to training, fit testing, maintenance, and inspection by manufacturers in order to protect the employee is likely to drive market expansion. These safety programs require firms to adhere to severe workplace safety rules. Furthermore, these initiatives help in the reduction of business expenses, workers' compensation, and healthcare costs. As a result, the South American Asbestos Gloves market expansion is predicted to grow with the increasing adoption of safety programs by various manufacturers.
South America also has a significant number of foundries, steel factories, and glasswork factories, where asbestos protective equipment is widely used. The market will continue to rise as welders, metalworkers, and glassblowers increase their use.
The rising number of steel plants & increasing glass production activities in South America are expected to boost the market size of asbestos gloves from 2021 to 2027. In order to maintain firm standards, increased industrialization among most developing countries has paved the way for improved employee safety and security.
Metallurgy & mechanical industries account for more than a third of overall output, with chemicals & petroleum refining accounting for a quarter of the South American economy. South American industries also manufactures cement and steel (ingots, rolls, plates, and sheets), pig iron, vehicles, and domestic appliances. Brazil has emerged as the continent's market leader, with its manufacturing core centered in Sao Paulo, followed by Argentina, Venezuela, & Chile.
The mining industry is one of the most important economic drivers in South America. About one-fifth of the world's iron ore reserves are found on the continent. Throughout the world, iron and steel are utilized in construction and machinery. Thus, with such rich industrial exposure, the demand for protective gears like asbestos gloves especially in the above mentioned sectors drive its market growth.
However, when asbestos gloves are frayed, ripped, or torn, the lethal fibres discharge into the air in the form of tiny dust, which may be inhaled by unknowing workers for many hours or even days. Once inhaled, asbestos fibers get permanently entrenched in the lungs' linings, eventually producing malignant carcinogenic tumors like mesothelioma or even other forms of asbestosis.
South America Asbestos Gloves Market Segment Analysis:
Based on Type, the South America Asbestos Gloves Market is classified into Two Fingers and Five Fingers. Five Finger gloves has the major share in this segment as there is a liberty for all fingers to move along and operate. It also provides protection from heat, cuts and is ergonomic than two-finger gloves.
Based on Application, the South America Asbestos Gloves Market is classified into Construction, Mining, Steel Plants, Glasswork, Firefighting, chemical and Others. Mining, Construction and Steel plants and expected to hold a large share as asbestos gloves are commonly used in the workplace to protect employees' hands from extremely high temperatures. Since asbestos is fire-resistant material, and provides excellent insulation, it was used in the manufacture of many daily items.
The production of laboratory and industrial gloves and mittens, which often contained between 40 and 100 percent white chrysotile asbestos, was one of the most popular uses of asbestos. This is because it acts as an effective insulation against the high working temperatures especially for materials like hot glass, molten metals, or dangerous chemicals and caustic acids. Asbestos gloves were employed widely in a variety of industries, including foundries, smelting operations, refineries, power plants, steel mills, glass, ceramic, and textile producers, and firefighting services.
South America Asbestos Gloves Market Regional Insights:
Brazil is estimated to lead with the most market share in South America Asbestos Gloves Market and to develop at the fastest rate. The Asbestos gloves market is seeing rapid expansion due to increase in industries, an employable population, and more occupational hazards. Bolivia, Cuba, Uruguay, Panama, and Costa Rica are also among the leading countries contributing to the growth of the Asbestos gloves market in South America.
South America, the country with the major share in the South America Asbestos Gloves Market, is expected to grow significantly over the forecast period. The growth would be achievable due to a large proportion of mining and other industrial activities in South America. Furthermore, government organizations, businesses, third-party administrations, and others are focusing their efforts on initiating employee safety, which will help the South America Asbestos Gloves Market in this region to grow. The South America Asbestos Gloves Market is expected to grow significantly due to rising demand, greater income, updated technology and machinery, as well as efforts to raise awareness of the requirement.
To understand the Asbestos Gloves industry in South America and study the market trends. Focusing on the Application of Asbestos Gloves, knowing the drivers and challenges of the same. Understanding the market segment geographically to gauge the growth potential.
The report includes analytical models like the Porter’s Five Forces, which helps in understanding the operating environment of the competition in the South America Asbestos Gloves Market and thereby study the stakeholders to derive an efficient strategy; and PESTLE Analysis to gain a macro perspective of the Asbestos Gloves Industry in terms of political aspects like Government stability, policies, trade regulation and economic aspects like market trends, taxes and inflation. It also provides the effect of environmental factors and influence of social and legal aspects on the South America Asbestos Gloves Market.
South America Asbestos Gloves Market Scope:
South America Asbestos Gloves Market Scope
Market Size in 2022
USD 36.55 Mn.
Market Size in 2029
USD 44.64 Mn.
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
South America Asbestos Gloves Market Key Players:
Frequently Asked Questions
The segments of Application, Type and Region are covered in the South America Asbestos Gloves Market report.
The CAGR of South America Asbestos Gloves Market is 2.9%.
The market size of the South America Asbestos Gloves Market is expected to reach 44.64 Mn by 2029.
The forecast period for the South America Asbestos Gloves Market is 2022-2029.
The market size of the South America Asbestos Gloves Market in 2022 was 36.55 Mn.
- Scope of the Report
- Research Methodology
- Research Process
- South America Asbestos Gloves Market: Target Audience
- South America Asbestos Gloves Market: Primary Research (As per Client Requirement)
- South America Asbestos Gloves Market: Secondary Research
- Executive Summary
- Competitive Landscape
- Market Share Analysis by Region in 2022 (%)
- Stellar Competition matrix
- Key Players Benchmarking: by Product, Pricing, Investments, Expansion Plans, Physical Presence, and Presence in the Market.
- Mergers and Acquisitions in Industry: M&A by Region, Value, and Strategic Intent
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Challenges
- PESTLE Analysis
- PORTERS Five Force Analysis
- Value Chain Analysis
- South America Asbestos Gloves Market Segmentation
- South America Asbestos Gloves Market, by Country (2022-2029)
- South America Asbestos Gloves Market, by Type (2022-2029)
- South America Asbestos Gloves Market, by Application (2022-2029)
- Steel Plants
- Company Profiles
- Key Players
- Global Glove
- Company Overview
- Product Portfolio
- Financial Overview
- Business Strategy
- Key Developments
- C.I. Inversiones Internexco S.A.S
- Global Glove
- Key Players
- Key Findings