REPORT DESCRIPTION

Market Size and Overview:

In the year 2023, the valuation of the Worldwide Vinyl Gloves Market stood at $2.05 million, with a forecasted expansion to attain a market scale of $2.78 million by the year 2030. Throughout the anticipated timeline spanning from 2024 to 2030, a Compound Annual Growth Rate (CAGR) of 4.4% is anticipated for the market.

Industry Overview:

Vinyl disposable gloves, crafted from polyvinyl chloride and plasticizers, offer a latex-free alternative. These gloves deliver heightened comfort and tactile sensitivity when compared to neoprene gloves. Their suitability for situations requiring frequent glove changes, such as food preparation, makes vinyl gloves a preferred choice. Industries like manufacturing, food processing, printing and assembly, as well as medical sectors widely utilize vinyl gloves. Polyethylene (PE) stands out as the most cost-effective glove material, featuring a loose fit and portability. Specifically designed for quick and easy donning and doffing, PE gloves are devoid of powder and latex. Employed for light-duty tasks demanding frequent glove changes, such as food preparation and serving, PE gloves serve various purposes.

The COVID-19 pandemic and heightened public awareness of healthcare-related diseases are expected to fuel the growth of the disposable gloves market, particularly within the healthcare sector. Factors such as increased investments in both public and private sectors, population growth, and a rising elderly population are poised to contribute significantly to the healthcare industry's substantial expansion in major developing economies. Moreover, escalating healthcare costs are anticipated to drive the growth of the healthcare sector, consequently boosting the demand for disposable gloves. Market players are anticipated to intensify research and development efforts, focusing on the intrinsic value of raw materials to enhance attributes like heat resistance, comfort, elasticity, and lightweight features. Through the incorporation of advanced enhancements, these initiatives aim to make disposable gloves multifunctional, expanding their applications.

Impact of the COVID-19 Pandemic on the Vinyl Gloves Market:

The widespread impact of the COVID-19 pandemic has led to an increased demand for disposable gloves, especially within the healthcare sector to mitigate the risk of further transmission. Occupational hazards, such as exposure to hazardous chemicals, pose significant health risks in various industries, including healthcare, medicine, and mining. Health issues such as bloodborne infections, hand injuries, skin disorders, rashes, and amputations are common concerns in these sectors. The predominant drivers expected to propel market growth throughout the forecast period are likely to be stringent safety regulations. The rapid spread of the virus necessitated healthcare professionals involved in specimen collection to wear proper protective gear, including gloves, to prevent infection. Recommendations from global health authorities, such as the World Health Organization and the U.S. Food and Drug Administration, further underscore the essential use of medical gloves across all healthcare operations. This heightened demand for medical gloves, driven by effective infection control measures during the COVID-19 pandemic, is expected to positively impact business growth in the coming years.

MARKET DRIVERS:

The vinyl glove industry is undergoing rapid expansion, propelled by increased applications in the health and food sectors.

Anticipated to undergo swift expansion, the vinyl glove market is driven by heightened demand in the food and healthcare industries. Disposable gloves are frequently employed for hand protection in scenarios involving medications, chemicals, and reactive, unclean materials. Moreover, their common use in medical practices such as operations, dental procedures, and physical examinations contributes to the overall demand. The disposable and cost-effective nature of these gloves fuels market growth. Future market expansion is expected to be influenced by factors like the rise of infectious diseases and microbial activity in the handling of food products. Household demand for disposable gloves is also on the rise as awareness of hygiene continues to grow, especially when dealing with chemicals, pesticides, fuel, and agricultural products.

The business landscape is poised for growth owing to the increasing prevalence of contagious diseases and heightened awareness of safety and cleanliness.

As healthcare workers become more conscious of the importance of cleanliness and safety in mitigating potential health risks, the market share for medical gloves is projected to expand. The COVID-19 pandemic has significantly increased the demand for medical gloves, intensifying safety and precautionary measures for both patients and medical professionals. Growing concerns about the prevalence of common viral diseases are also contributing to the favorable impact on the revenue of the medical glove market. Government initiatives aimed at raising awareness of safety, hygiene, and chronic health conditions are further expected to positively influence the market.

MARKET RESTRAINTS:

Competitive pricing strategies employed by numerous market players may lead to a decline in consumer demand, potentially slowing down adoption.

Strict pricing strategies for gloves of similar quality by multiple market players have diminished market value among consumers, particularly in emerging economies. The COVID-19 outbreak has mandated the use of medical gloves in various healthcare procedures, prompting market participants to adopt competitive pricing methods to attract customers. While this pricing approach may restrict access to medical gloves for some players in the short term, manufacturers are expected to mitigate its impact by developing new technologies to reduce production costs. Additionally, climate and temperature variations can also influence the global market share.

Global Vinyl Gloves Market – By Form

• Powdered Disposable Gloves
• Non-powdered Disposable Gloves

The Vinyl Gloves Market is categorized into Powdered Disposable Gloves and Non-powdered Disposable Gloves based on form. In 2021, the powder-free product segment led the market, holding a share of over 70.0%. Over the forecast period, stringent global limitations on powdered gloves usage are expected to positively impact the market for powder-free gloves. Chlorination treatment renders powder-free gloves less form-fitting, facilitating easy donning and doffing. The increasing demand across various industries, including chemical, medical, and food processing, is projected to drive the market for powder-free gloves.

Global Vinyl Gloves Market – By Application

• Medical
  • Examination
  • Surgical
• Non-medical
  • Food Service
  • Clean Room
  • Industrial

The market is divided into Medical and Non-Medical categories based on applications. The demand for disposable examination gloves has surged in the medical industry, driven by the COVID-19 pandemic. Medical workers globally have seen increased usage for examination, testing, and minimizing contact with infected patients. The medical industry, especially in hospital, veterinary, and dental applications, has witnessed significant expansion in disposable examination gloves. In various non-medical industries like food processing, automotive, oil and gas, construction, and metal fabrication, disposable gloves play a crucial role in safeguarding against hand injuries and other hazards.

Global Vinyl Gloves Market – By Distribution Channel

• Wholesaling and Direct Selling
• Medical Store
• Online Store

Distribution channels include Wholesaling and Direct Selling, Medical stores, and Online stores. The brick-and-mortar retailers category is projected to grow at a CAGR of 17.2% by 2030, surpassing other segments. Brick-and-mortar stores, with their extensive distribution networks, convenience, and superior customer service, continue to be a viable option. These retailers contribute significantly to market revenue for medical gloves and build strong customer relationships through direct sales. The availability of high-quality items in emerging markets through brick-and-mortar retailers is expected to ease acceptance and usage.

Global Vinyl Gloves Market - By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

North America: Dominated the market in 2021, generating over 35.0% of global revenue. The well-developed healthcare system, safety regulations, and increased healthcare spending contribute to its dominance. The COVID-19 pandemic has further boosted the demand for disposable gloves, and the region is expected to witness favorable growth due to rising healthcare spending, an aging population, and increased awareness of healthcare-acquired infections.

• Europe: Holds a significant market share, benefitting from public-private partnerships, strengthened healthcare infrastructure, and an expanding healthcare sector.
• Asia-Pacific: Experiencing substantial growth in demand for disposable gloves in industrial, food & beverage, and medical settings. Factors such as rising healthcare costs, a sizable chronic disease patient population, and increasing disposable incomes contribute to this growth.
• Latin America: Anticipated to expand at a CAGR of 5.7%, benefiting from rising public-private partnerships, strengthened healthcare infrastructure, and an expanding healthcare sector.

Major Key Players in the Market:

• Top Glove Corporation Berhad
• Semperit AG Holding
• Supermax Corporation Berhad
• Ansell Limited
• Adenna LLC
• Unigloves Limited
• Cardinal Health, Inc.
• Ammex Corporation
• SHEILD Scientific
• Medline Industries, Inc
• Berner International GmbH, among others.

Notable Happenings in the Vinyl Gloves Market in the Recent Past:

• Acquisition: In January 2020, Medline acquired the Canadian distributor of medical and dental supplies, Médi-Sélect, to expand its customer base and boost revenue growth throughout the nation.