Hand protection manufacturers need to innovate to trigger market growth
Frost & Sullivan’s recent analysis, North American (NA) Industrial Hand Protection Market, reveals that new product innovations, heightened emphasis on regulations, use of eco-friendly materials, and the incorporation of new material technology to manufacture products that provide a better fit, dexterity, and comfort will play a pivotal role in the adoption of industrial hand protection gloves across key end-user industries.
Frost & Sullivan expects the mature NA hand protection market to grow at a compound annual growth rate (CAGR) of 3.1% to reach $2.853.5 million by 2023.
“Market participants are working closely with technology providers to develop gloves that match particular needs for specific end-use applications. For example, the market has witnessed the introduction of gloves for the oil and gas industry that offer a high level of protection against impact temperature and abrasion and also facilitate better grip, especially on wet and oily surfaces,” said Arun Ramesh, Research Manager, Personal & Protective Equipment, Frost & Sullivan.
As per the report, strategic imperatives for success that vendors should tap into include:
• Developing vend- packed gloves that can accommodate different styles of gloves.
• Harnessing technology development to incorporate new materials for product differentiation.
• Focusing on new regulations that will propel the need for specific types of gloves. For instance, the glove impact standard will create pressure for gloves that offer protection against dorsal impact.
• Advancing the develop- ment of multi-functional gloves that provide a combination of cut and chemical protection or gloves that offer durabil- ity, along with flexibility and breathability.
“Quality, ergonomics, and cost are the key competitive factors in the regional market. Market participants should collaborate with end users through voice-of-customer forums to develop new products that help address unmet needs, enhance brand loyalty, and aid customer retention,” observed Ramesh.
He further said that low- cost imports have, in some cases, caused end users to compromise on the safety of the workforce by acquiring products that do not provide adequate safety.
“However, recent upgrades in regulations such as the American National Standards Institute (ANSI)/International Safety Equipment Association (ISEA) 105-2016 (which enhances the level of cut prtection) and ANSI/ISEA 138 (which focuses on dealing with back-of-hand (dorsal) impact protection) have helped safety managers select proper equipment. They have also raised the standards of safety across end-use industries,” Ramesh said.