Dublin, June 24, 2021 (GLOBE NEWSWIRE) -- The "Nitrile Gloves Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The nitrile gloves market is expected to grow at a CAGR of 19.84% from an initial value of US$4,304.244 million in 2019 and is estimated to reach the market size of US$15,279.227 million in 2026.
The nitrile gloves market is expected to grow due to the rising awareness of the benefits of nitrile gloves in the healthcare sector. The nitrile gloves provide various advantages such as being more resistant than natural rubber to chemicals, oils, and acids, and have superior strength.
According to the University of Pennsylvania's Environmental Health and Radiation Safety unit, nitrile is a synthetic rubber that serves as a very good material for general-purpose gloves because of its elasticity and chemical resistance. These properties also make disposable nitrile gloves the most common gloves for handling laboratory chemicals and surgical procedures.
Moreover, the rise in the prevalence of latex allergies among healthcare workers has led to an increase in the demand for nitrile gloves, and hence the nitrile gloves are increasingly being used as a replacement for latex gloves around the world.
The COVID-19 pandemic had a positive impact on the nitrile gloves market. The pandemic led to a rise in the demand for nitrile gloves as the experts consider single-use nitrile gloves important for preventing disease spread and keeping both medical and laboratory procedures sanitary.
During the pandemic, N95 respirators, medical gowns, and nitrile gloves saw dramatic price increases due to increasing demand and stagnation in supply levels of the raw materials needed to produce them. Looking at the rising demand for nitrile gloves, various companies increased their production, which led to further growth in the nitrile gloves market, and the growth in demand is anticipated to continue owing to the recurring waves of coronavirus.
For instance, VIP Gloves Ltd July 2020 announced to boost their production capacity of nitrile gloves by up to 60% with the installation of four additional new production lines over the next 18 months to meet the strong demand for nitrile gloves on the back of the prolonged global COVID-19 pandemic.
The nitrile gloves market has been classified based on type, grade, end-use industry, and geography. By type, the market has been classified based on Powdered and Powder-Free. Based on grade, the segmentation has been done into Medical Grade, Industrial Grade, and Food Grade. By end-use industry, the market has been categorized into Automotive, Food Processing, Construction, Oil and Gas, Chemical, and others. Geographically, the market for nitrile gloves has been distributed into North America, South America, Europe, Middle East and Africa, and Asia Pacific.
Powder-free segment to grow at a significant pace
The powder-free segment of the nitrile gloves market is anticipated to witness significant growth which can be attributed to the increasing preference for powder-free gloves across numerous industries including medical, food processing, and chemical. Powder-free nitrile gloves are anti-static in behavior, smart solvent resistant, odour free, and therefore helpful in the food and dairy farm business.
Growing cases of allergies associated with powdered nitrile gloves and a rise in cases of powdered gloves causing wound inflammation, severe airway inflammation from inhaling the powder, and post-surgical adhesions from contact with the powder is leading users to switch to powder-free nitrile gloves. Powder-free gloves also account for lesser allergies as their manufacturing involves lower protein and chemical content, which also increases the time for which they can be continuously used.
Additionally, taking into account the harmful effects of powdered gloves, in January 2017, the Federal Food and Drug Administration (FDA) placed a ban on powdered patient examination gloves, powdered surgical gloves, and also on powder for lubricating a surgeon's gloves, thus expected to propel the powder-free segment's market growth even further.
North America to hold a prominent share in the market
Geographically, North America is anticipated to dominate the global market owing to government regulation that limits the use of latex and powered gloves and supports the use of synthetic material - primarily nitrile-based gloves. Furthermore, growing Latex allergic population and the risk it poses to children and healthcare workers also supports the market growth of Nitrile gloves.
However, the Asia Pacific region is projected to grow at a high rate due to surging industrialization and growing demand for nitrile gloves for industrial and medical purposes. The booming construction industry also plays a significant role in the Asia Pacific and the Middle East and Africa segment.
Prominent/major key market players in the Nitrile Gloves market include Top Glove Corporation Bhd, Hartalega Holdings Bhd, Kossan Nitrile Industries Bhd, among others.
The players in the Nitrile Gloves market are implementing various growth strategies to gain a competitive advantage over their competitors in this market. Major market players in the market have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years.
The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the Nitrile Gloves market.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Nitrile Gloves Market Analysis, by Type
6. Nitrile Gloves Market Analysis, by Grade
6.2. Medical Grade
6.3. Industrial Grade
6.4. Food Grade
7. Nitrile Gloves Market Analysis, by End-Use Industry
7.3. Food Processing
7.5. Oil and Gas
8. Nitrile Gloves Market Analysis, by Geography
8.2. North America
8.3. South America
8.4.1. Europe Nitrile Gloves Market, By Type, 2019 to 2026
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.4. South Korea
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
Top Glove Corporation Bhd
Hartalega Holdings Bhd
Kossan Nitrile Industries Bhd
Supermax Corporation Bhd
Latexx Partners Bhd
Riverstone Holdings Limited
Honeywell International Inc.
Longcane Industries Sdn. Bhd.
Dipped Products PLC
For more information about this report visit https://www.researchandmarkets.com/r/cksghr
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