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Sales Rise as Comfort Takes Precedence over Price in North American Hand Protection PPE Market, Observes Frost & Sullivan


News provided by

Frost & Sullivan

19 Jul, 2012, 12:04 GMT

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- Safety regulations and greater awareness boost glove sales

MOUNTAIN VIEW, California, July 19, 2012 /PRNewswire/ -- The industrial hand protection personal protective equipment (PPE) market is shedding the weight of commodification, as an increasing number of end users are looking to invest in ergonomic gloves that offer better fit, dexterity, comfort and functionality. Although end-users are aware of the need for hand protection, they are less likely to wear a glove if it impedes their work efficiency or if it is uncomfortable.

New analysis from Frost & Sullivan (http://www.chemicals.frost.com), North American Hand Protection PPE Market, finds that the market earned revenues of $1.90 billion in 2010 and estimates this to reach $2.27 billion in 2017. This is due to increasing safety regulations and sophistication in customer expectations and requirements.

If you are interested in more information on this research, please send an email to Jeannette Garcia, Corporate Communications, at jeannette.garcia@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Buoyed by end-user interest, glove manufacturers are raising the quality and functionality of their equipment by using novel and advanced materials. These also cost more.

"The glove industry has evolved from basic cotton and leather gloves to high-performance materials that provide better protection," said Frost & Sullivan Senior Research Analyst Anamika Chaudhuri. "This shift is more marked in the mechanical segment, where materials that provide higher levels of cut resistance have become popular."

Despite its maturity, the North American industrial hand protection market is not completely saturated. This is caused by gaps in end-user awareness and compliance. As industrial tasks become more specialized and new hazards continue to emerge, market participants will be hopeful of greater opportunities of market expansion.

However, the market is overcrowded and low entry barriers attract numerous domestic and international glove manufacturers. Imports have always posed a threat to branded local products, as they are generally priced lower and have gradually improved in quality. This results in price wars and places great pressure on manufacturers' margins.

The issue of costs is all the more pertinent because of the volatile raw material prices. Glove manufacturers must revise product prices many times a year in this cost-sensitive market.

In deference to the market's maturity, manufacturers must also take efforts to differentiate their products. They need to explore ways to innovate within the existing range of products and solutions to stand out.

Apart from research and development (R&D) and marketing initiatives, sales will also get a leg up from the safety regulations and standards, primarily dictated by the Occupational Safety & Health Administration (OSHA).

"Owing to OSHA's efforts, employers are aware that the cost of an injury, a citation or a fine is much higher than the cost of providing hand protection to employees," notes Chaudhuri. "Realizing that investing in safety tends to lower insurance payments, absenteeism, heighten productivity and employee morale, as well as create a positive brand image, employers have been eager to buy hand protection PPE, thereby giving a huge boost to glove sales."

North American Hand Protection PPE Market is part of the Chemicals & Materials Growth Partnership Services program, which also includes research in the following markets: Western European Disposable Gloves Market, South African PPE Market, North American Construction PPE Markets, Western European Construction PPE Market, Chinese Above the Neck PPE Markets, Western European Fire Fighters Personal Protective Equipment Market, Legislative Trends Impacting the PPE Industry, Green Materials for PPE, and North American Fire Fighters Personal Protective Equipment Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

Contact Us:     Start the discussion

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North American Hand Protection PPE Market
N9C1-39

Contact:
Jeannette Garcia
Corporate Communications – North America
P: +1-210-477-8427
E: jeannette.garcia@frost.com

http://www.frost.com

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