Abstract
Emerging Service Sectors Invigorate a Commoditized Industry
Emerging service sectors are providing much-needed expansion opportunities in the mature and competitive non-disposable industrial gloves market, showing great potential for product diversification, technological advancements, and increased profitability. For instance, controlled environment applications in the biotech, pharmaceuticals, aerospace, and electronics industries offer tremendous scope for the growth of chemical/liquid resistant gloves. Interest in cut and abrasion (C&A) resistant and chemical/liquid resistant gloves is also rapidly rising because of their ability to protect users against both liquids and cuts. These types of gloves are often used in conjunction with one another in industries such as food processing and pulp & paper processing.
This Frost & Sullivan research examines the U.S. industrial non-disposable gloves market, which is segmented as follows: general purpose, chemical/liquid resistant, and C&A resistant. The study discusses the prevailing market challenges and provides strategic recommendations to overcome them. A detailed examination of industry-specific trends helps companies target market penetration opportunities.
Product Innovation and Differentiation Needed to Drive Market Expansion
In a market crowded with commodity-type products, gloves manufacturers are realizing that sustaining innovation and creating new and differentiated markets are key to survival. "Innovation, in terms of product construction and application, is critical to help a company stand out and dominate a new market. Research and development has, therefore, become an increasingly important component to those organizations that can afford it," notes the analyst of this research service.
Given the widespread saturation in the demand for general purpose gloves among traditional end users in industrial and manufacturing facilities, transportation, and utilities, there is an urgent need to target new markets with innovative product lines. Fresh applications in new industries are expected to spur glove manufacturers to use novel and superior quality materials in order to differentiate themselves from the competition.
Niche Markets Reveal Untapped Revenue Potential
Companies are finding it increasingly difficult to retain market share in the non-disposable industrial gloves market. Mounting foreign competition from both suppliers and distributors - especially those in the general purpose gloves segment - is forcing companies to look for growth opportunities in areas as varied as hazardous materials handling (HazMat), electronics, pharmaceuticals, biotech, and food processing. "Many of these niche markets are experiencing significant growth due to technological and product advances. The potential for profitability is, therefore, high - particularly for specialty chemical/liquid resistant and C&A resistant gloves," says the analyst.
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