Asia-Pacific protective gloves market is expected to grow at a CAGR of 7.9% during the forecast period. Asia-Pacific consists of several major economies such as China, Malaysia, and Japan, where significant exploitation of protective gloves is estimated in the near future. China is the second largest economy after the US and has the world’s largest population (1.4 billion), followed by India (1.3 billion) as per data provided by World Bank in 2018. Asia-Pacific is estimated to be a potential market for the protective gloves due to the growing industrial and healthcare sector in the major economies of the region such as China, Japan, Malaysia, and India. This has led to the development of technologically advanced solutions for increasing safety in the industrial sector. Moreover, the region comprises some of the major food processing companies such as Nestlé, Kraft, and Unilever, which are moving towards Asia-Pacific for the establishment of production facilities in the region. As a result, it has been attracting a considerable number of food manufacturers in this region.
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The market is increasing due to rising drug discovery initiatives among pharmaceuticals and biotechnology companies in the region. The major countries which have a significant market share during the forecast period are India, China, and Japan. Apart from these nations, South Korea, Malaysia, and Indonesia are some major countries where considerable growth will be observed. Furthermore, the emerging economies in Asia-Pacific dominate European Union imports of protective gloves. According to Nitrtextile, Malaysia and China contribute 21% of total global imports and are the major suppliers of protective gloves, followed by Thailand that contributes 8% in total imports. China majorly dominates EU imports of protective gloves, made of textile, leather, and plastic.
Further, the rising food industry in countries such as South Korea and Taiwanis another major factor that is primarily contributing to the demand for food manufacturing and packaging services. Moreover, the increasing demand for food products from other developed countries such as the US significantly increases the food outsourcing services in these countries. For instance, according to the USDA Foreign Agricultural Service, Thailand is one of the major agricultural suppliers across the globe due to its well-established food processing sector. The country has one of the highly advanced food processing industries across Southeast Asia, enabling the country to export value-added products to the global markets.
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Asia-Pacific Protective gloves Market Segmentation
By Material
· Nitrile
· Leather
· Vinyl
· Neoprene
· Other (Butyl, Polyethylene)
By Type
· Disposable
· Non-Disposable (Reusable)
By End-Users
· Manufacturing
· Food & Beverage
· Construction
· Oil & Gas
· Driving and Sports
· Other (Firefighting, Military, Mining)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
