New Product Development is the Key Growth Strategy Adopted by Leading Players in the Global Protective Gloves Market
The global protective gloves market is estimated to be USD 8.69 Billion in 2016 and is projected to reach USD 11.26 Billion by 2022, at a CAGR of 6.4% from 2017 to 2022. New product development is the key growth strategy adopted by the leading market players. Besides this strategy, major players also engaged in expansions, agreements, and collaborations to strengthen their position in the global protective gloves market. The maximum number of strategic developments, undertaken between 2015 and 2017 (May), took place in the Asia Pacific, European, and North American regions.
Key players operating in the global protective gloves market include Ansell Limited (US), Top Glove Corporation Berhad (Malaysia), Honeywell International Inc. (US), Supermax Corporation Berhad (Malaysia), 3M Company(US), Hartalega Holdings Berhad (Malaysia), W.W. Grainger, Inc. (US), Kimberly-Clark Corporation (US), and Protective Industrial Products, Inc. (US).
The growth of the protective gloves market was largely influenced by new product developments over the past five years. Companies such as Ansell Limited, Top Glove Corporation Berhad, Honeywell International Inc., and Kimberly-Clark Corporation undertook expansions, agreements, and new product developments to expand their regional presence and enhance their product offerings.
Ansell Limited (US) is a key player in the global protective gloves market. The company offers a comprehensive range of protective gloves for various end-use Industries, such as manufacturing, transportation, healthcare, and oil & gas. The company engaged in new product development and expansion as part of its strategic developmental activities. In October 2016, the company introduced six new HyFlex cut protection gloves using the intercept technology. This helped the company to expand its product portfolio.
Top Glove Corporation Berhad (Malaysia) is another leading manufacturer of protective gloves. The company adopted agreement as a key growth strategy to expand its business globally. It has been focusing on developing the rubber glove market through agreements. The company offers a wide range of rubber gloves to the healthcare, food & beverage, manufacturing, and other sectors. In May 2017, the company signed an agreement with Malaysia-based companies, A1 Glove Sdn Bhd and Titi Glove Sdn Bhd, to increase its share in the protective gloves market. The two companies have a strong rubber gloves product portfolio.
Related Reports:
Protective Gloves Market by Material (Latex, Nitrile, Neoprene, Leather), Type (Re-Usable, Disposable), Application (Chemical, Mechanical, Biological), End-Use Industry (Healthcare, Manufacturing, Food & Beverage, Oil & Gas) - Global Forecast to 2022
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