Asia Pacific region is anticipated to be the fastest-growing market in volume terms over next six years
The global disposable gloves market is expected to reach US$7.85bn by 2019, growing at a CAGR of 6.2% from 2013 to 2019, according to a new report from Transparency Market Research.
The market was worth $5.21bn in 2012 and in volume terms accounted for more than 200 billion pieces.
The report, Disposable Gloves (Natural Rubber, Vinyl, Nitrile and Others) Market for Medical and Non-Medical (Food, Cleanroom, Industrial and Other) Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013–2019, says increased healthcare spending and growing non-traditional end use industries in the emerging economies of Asia Pacific and Latin America will boost the market for disposable gloves over the next six years.
The need for personal protection and hygiene is also expected to fuel demand, especially in the food industry.
North America was the market leader in 2012, accounting for 42.3% of global demand
Although disposable gloves are used in large quantities by the healthcare, food and automotive industries to protect workers using chemicals, reactive or unhygienic materials, the report says volatile raw material price and currency fluctuations will hamper market growth over the forecast period.
North America was the market leader in 2012, accounting for 42.3% of global demand. Growing threats from infectious diseases and investment by the US government in healthcare industries have resulted in a well-developed market for disposable gloves in this region. However, the market is quite saturated and other regions are likely to see comparatively stronger growth, the report says.
Europe is the second-largest consumer of disposable gloves and is expected to grow at a CAGR of 5.4% over the forecast period.
Asia Pacific, riding on the high growth in countries such as China and India, is anticipated to be the fastest-growing market in terms of volume over the next six years. This region accounted for 15.3% of the global market for disposable gloves in 2012 and is expected to grow at a CAGR of 6.7%.