In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
The Japan cleanroom gloves market garnered a revenue of USD 240.89 million in 2021 and is estimated to record a CAGR of 13.71% over the forecast period, i.e., 2021 – 2031. The market is further expected to reach a value of USD 847.77 million by the end of 2031. The growth of the market can be attributed to the growing demand for clean gloves in various end user industries, such as the semiconductors, pharmaceutical, and electronic industries among others. In the semiconductor and electronics industries, the workers are required to handle different chemicals as part of their work processes. These chemicals are dangerous to the surface of the hand, and hence the worker need to use gloves to protect themselves. Furthermore, rising number of regulatory standards set by government for manufacturing medical products in a clean environment is also expected to drive market growth in the upcoming years. In addition, the outburst of COVID-19 pandemic raised the demand for cleanroom gloves in Japan to a large extent throughout 2020.
Japan is one such nation that takes the safety and hygiene of healthcare professionals extremely seriously. Rise in concerns regarding the safety of medical authorities coupled with high adoption of sophisticated techniques for the production of rubber gloves that are rupture and temperature resistant, are projected to provide ample growth opportunities to the market in the near future. In addition, the robust growth of healthcare sector is also predicted to be beneficial for the market growth. According to a report by Organization for Economic Co-operation and Development (OECD), the health expenditure in Japan reached 10.9% of GDP share in 2018, and is evaluated to reach 12.1% by the end of 2030.
Cleanroom gloves are heavily used as a protection tool by cleanroom authorities in the electronics, semiconductors, and pharmaceutical industries. It is also used to avoid any type of cross-contamination to the manufactured product. Apart from this, the wide usage of these gloves by personnel in various pharmaceutical industry manufacturing processes such as production of enzymes, vaccines and volume parenteral is also assessed to observe a notable hike in the coming time.
On the basis of geographical analysis, the Japan cleanroom gloves market is segmented into eight major regions, including Hokkaido, Tohoku, Kanto, Chubu, Kinki/Kansai, Chugoku, Shikoku, and Kyushu. The market in the Kanto region is estimated to occupy the largest revenue of USD 345.04 million in 2031, up from USD 148.56 million in 2025, and witness the highest CAGR of 14.23% over the forecast period. In 2021, the market in this region is expected to generate a revenue of USD 93.71 million. The market growth in this region can be credited to the increasing number of research and development activities regarding development of healthcare technologies and the presence of premium medical institutes in the region. In addition, large number of ongoing vaccination drive for coronavirus conducted in the health center of Kanto University is also expected to boost the demand for the product in the region in the imminent months. For instance, more than 2000 people are vaccinated each day for coronavirus vaccine since May 2021 in the university.
The Japan cleanroom gloves market is segmented on the basis of material into nitrile, natural rubber, vinyl, latex, neoprene, and others, out of which the nitrile segment is anticipated to grab the largest market share of 42.67% and a value of USD 160.53 million by the end of 2025 and witness a significant growth rate of 14.09% over the forecast period. The growth of this market segment can be attributed to the higher shelf life, strength, durability and puncture and chemical resistance properties of nitrile gloves as compared to other gloves, along with their growing usage in various industrial verticals. Additionally, based on usability, the segment for disposable cleanroom gloves occupies a notable market share of USD 173.88 million in 2021, backed by the rise in demand for these gloves from healthcare facilities as a result of the ongoing COVID-19 pandemic, and higher disposable incomes of the people in the country. Moreover, the re-usable segment is evaluated to witness a highest growth rate of 14.41% over the forecast period. Based on distribution channel, the online segment is expected to hold the largest market share and further attain a revenue of USD 235.82 million by the end of 2025. Further, the market is also segmented on the basis of ISO equivalent into ISO 3, ISO 4, ISO 5, ISO 6, ISO 7, and ISO 8, out of which, the ISO 4 segment is anticipated to grow with the highest CAGR of 14.19% during the forecast period and further reach a market value of USD 157.23 million by the end of 2025. Furthermore, the ISO 4 segment in the electronic and semiconductor industry vertical is expected to hold the largest market revenue of USD 639.80 million by the end of 2031.
Ans: The major growth drivers for the market are the rising demand for cleanroom gloves from the end-user industries and growing usage of variants to fulfil specific requirements during production.
Ans: The market is anticipated to attain a CAGR of 13.71% over the forecast period, i.e., 2021-2031
Ans: Harmful environmental effects if disposed improperly and increasing usage of robots in the healthcare industry are estimated to hamper the market growth.
Ans: The major players in the market are Ansell Ltd., Hartalega Holdings Berhad, 3M Company, Supermax Corporation Berhad, Semperit AG Holding, Cardinal Health, Inc, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by material, usability, distribution channel, ISO equivalent, industry vertical, and by region.
Ans: The nitrile segment is anticipated to hold largest market size and is estimated grow at a CAGR of 12.92% over the forecast period and display significant growth opportunities.