The global Cleanroom Gloves Market is estimated to be valued at US$ 1832.01 Mn in 2023 and is expected to exhibit a CAGR of 9.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cleanroom gloves are delicate gloves used in settings that require stringent contamination control, such as semiconductor fabrication facilities, pharmaceutical laboratories, hospitals, and research institutes. Cleanroom gloves are made from various materials such as latex, nitrile, vinyl, neoprene, and chloroprene to provide protection against chemicals and particles. They are essential in the production of microchips, medicines, and other sensitive products that require utmost sterile conditions. The manufacturing of microchips, pharmaceuticals, and medical devices requires the use of cleanroom gloves to maintain product quality and standards.
Market key trends:
Growing semiconductor industry is majorly driving the growth of the cleanroom gloves market. With increasing demand for microchips in consumer electronics, advanced robotics, and automobiles, semiconductor manufacturing is expanding rapidly. Cleanroom gloves are extensively used in various stages of microchip production such as etching, deposition, and lithography to prevent particle contamination. Rising instances of contagious diseases globally is also fueling the demand for cleanroom gloves from hospitals and clinics. Furthermore, stringent regulatory standards regarding product quality and safety in pharmaceutical and medical industries are supplementing the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the cleanroom gloves market due to high costs associated with setting up cleanroom facilities and production lines for gloves.
Bargaining power of buyers: The bargaining power of buyers is high as there are numerous established players providing cleanroom gloves. Buyers can negotiate on price and demand value-added features.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have to adhere to strict cleanroom standards and certifications required by industry.
Threat of new substitutes: The threat of substitutes is low as there are currently no viable alternatives to gloves that provide the same protection and contamination control required in cleanrooms.
Competitive rivalry: The market is competitive with presence of global as well as domestic established players.
Key Takeaways
The Global Cleanroom Gloves Market Share is expected to witness high growth, exhibiting CAGR of 9.8% over the forecast period, due to increasing demand from pharmaceutical and medical device industries where stringent regulations are in place.
Market size for 2023 is estimated at US$ 1832.01 Mn. The cleanroom gloves market in North America is expected to witness the fastest growth rate during the forecast period due to stringent regulatory guidelines regarding contamination control. The region holds over 35% of the global market share currently owing to presence of major pharmaceutical manufacturers.
Key players operating in the cleanroom gloves market are Semperit AG Holding, Dia Rubber Co. Ltd., Asiatic Fiber Corporation, Woojin ACT Co. Ltd., Kimberly-Clark Corporation, Riverstone Holdings, Careplus Group Berhad, UG Healthcare Corporation, Nitritex Limited, Valutek, Jiujiang Haorui Industry & Trade Co. Ltd., and Ansell Healthcare. Major players are focusing on new product launches, expansions, and mergers & acquisitions to gain competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it