It is on the basis of these two considerations, if undertaken by a business, that defines the quality of its products and justifies its quantity:
It is because of these two considerations that a firm will be able to increase their productivity, through employee safety and increase their sales, through product safety which has boosted the market for industry gloves, globally.
An industrial glove is a protective wear for hands which ensures employee safety against cuts, burns, sharp metals heat and avoid the spreading of germs, bacteria in a production/manufacturing/healthcare space.
These safety measures which are undertaken through the use of industrial gloves is what has made this market value at $6.9 billion in 2019, globally.
India, currently doesn’t hold a major market share in terms of industrial glove manufacturing but with its pace at manufacturing and production it might surely have to and you can make it happen, this is how
The categorical segmentation of the industrial gloves on the basis of its material and the end consumption across the industries is what has increased the existing potential of this very industry.
Let’s see how.
Segmentation of the industrial glove market:
By Material ( disposable )
By Glove type
Now let’s see how this segmentation differentiates the uses of industrial gloves across different industries
By uses / applications
The licenses required to run an industrial glove making business would be :
1. Fixed capital investment ₹ 2lakhs – ₹ 5 lakhs
2. Working capital investment ₹ 5 lakhs
1) Net profit per year ₹ 6 lakhs
2) Return on investment 74 %
The material, usability, glove type segmentation of the industrial gloves has made the implementation of these gloves across all the industries possible, making the entire industrial market as its target consumers.
So, The consumers on whom you’ll be targeting the production of your industrial gloves would be :
Machinery oriented workplaces : Make use of these industrial gloves as a safety against heat, cuts and sores while equipment and machine handling procedures involved in their respective production processes
Metal fabrication : The workers of this industry are provided with these gloves to ensure their safety against burns, metal cuts and scars etc
Automotive industry : The demand from this industry for industrial gloves come from its properties of excellent grip, oil and grease resistance while dealing with the car bodies, tools etc
Chemical industry: They require industrial gloves to prevent any infusion of chemical to the worker’s skin avoiding all sorts of skin anomalies, diseases etc
Food processing industry: The food industry makes use of industrial gloves because of its odour free, solvent resistant properties and to practise health and hygiene which is particularly essential in a food industry
Healthcare industry: The health care industry requires and demands for disposable industrial gloves so as to avoid any virus and infectious transmission among patients, staff etc
Cleaning industry: They make use of industrial gloves to avoid handprints and ensure effective cleaning of equipments, glasses at commercial and industrial spaces
The area required to set up an industrial glove making business is 500 sq m- 1000 sq m
The raw materials required to run an industrial glove making business:
The machinery required to run an industrial glove making business:
The manpower required to run an industrial glove making business would be :
Moreover, training to these workers in terms of equipment usage, machine handling and safety and precautions measures must also be provided with
Also read :
The business model of an industry glove manufacturing unit can be defined using 4 variants which is as follows :
Value proposition: The unique selling point and the value which an industrial glove making business is likely to provide you with is :
Target consumers: The consumers at whom your industrial glove production can be targeted are :
Competitor review: The competition in this business is less because of the innumerable target customers, you can choose the ones you want to cater to without worrying about the barriers to entry.
However the big sharks of this industry are :
Marketing strategy: The marketing strategy for an industrial glove making business whose buyers are usually bulk purchases would be as follows :
Sales promotion: Selling quotas highlighting the cash and trade discounts along with incentives of free delivery, sample gloves etc on bulk orders
Advertising: Justifying the Quality of gloves, clinical proves, backed by R&D reports and certificates and highlighting the utility of the glove type to the specific industry you are targeting at
ex : Rubber property to chemical industry, grip and strength properties : automotive and manufacturing industries etc
The industrial glove industry has an immense potential and has witnessed efficient growth as follows:
An industrial glove making business is likely to yield you a profit margin of 17 %
Becoming a part of this huge industrial glove market surely requires a thorough decision making, let us help you, here are some fact checks
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