Protective Gloves Procurement Category Market Research Report from IBISWorld has Been Updated
Los Angeles, CA (PRWEB) February 07, 2015 -- Protective gloves have a buyer power score of 3.5 out of 5. This score reflects a mix of favorable and unfavorable conditions that have influenced buyer negotiation power during the three years to 2014. During the period, surging business activity across major downstream industries and rising input costs have contributed to steady price growth. As buyers in several sectors, particularly manufacturing and construction, have slowly gained traction, they have increased their operations. “Because employers must provide adequate hand protection for workers operating in hazardous environments, demand for protective gloves has risen in line with expanding production activity,” says IBISWorld procurement analyst Anna Son. In the three years to 2017, prices for protective gloves are forecast to rise on the back of strengthening economic activity and the rising prices of raw materials such as plastic and synthetic fiber. Rising product prices, in turn, hurt buyer power.
The lack of substitutes and increasing market share concentration further undermine buyer bargaining power. “During the past three years, market concentration has increased as large suppliers have acquired smaller competitors and gained greater control over market prices,” adds Son. “Additionally, although there are products that offer some kind of hand protection, there are none that can effectively compete with protective gloves in regard to features and portability.” Increasing market share concentration and the low availability of substitutes both limit buyer choices. Fortunately, rising imports of inexpensive goods warrant strong price competition among suppliers, thus buoying buyer negotiation power.
Low product specialization and switching costs also help buyers maintain negotiation leverage. There are multiple types of protective gloves tailored to protect against various physical and health risks available in the market. Although there are some suppliers that do offer more specialized products, most protective gloves are homogenous across suppliers when comparing products by class. Low specialization and a multitude of suppliers that can easily meet buyer needs provide buyers with the stronger hand in price negotiation and make it easier to switch suppliers. For more information, visit IBISWorld’s Protective Gloves procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of protective gloves and other related products. Protective gloves provide hand safety and contribute to sanitary conditions for workers operating in hazardous environments such as the manufacturing, mining and energy sectors. Protective gloves include disposable gloves, leather gloves, chemical-resistant gloves, coated gloves and electrical gloves, among others. Buyers should consider the work environment, types of hazardous substances and the duration of the job when purchasing protective gloves. This report excludes medical gloves.
Executive Summary
Pricing Environment
Price Fundamentals
Benchmark Price
Pricing Model
Price Drivers
Recent Price Trend
Price Forecast
Product Characteristics
Product Life Cycle
Total Cost of Ownership
Product Specialization
Substitute Goods
Regulation
Quality Control
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Imports
Competitive Environment
Market Share Concentration
Market Profitability
Switching Costs
Purchasing Process
Buying Basics
Buying Lead Time
Selection Process
Key RFP Elements
Negotiation Questions
Buyer Power Factors
Key Statistics
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
Gavin Smith, IBISWorld Inc., +1 (310) 866-5042, [email protected]
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