Nitrile Gloves Market Size to Reach US$ 9.41 Billion by 2027
Recently Published Report on “Nitrile Gloves Market Size, Share, Growth Outlook, Trends Analysis, Segment Forecasts, Regional Insights and Forecast 2020 – 2027”.
OTTAWA, Feb. 12, 2021 (GLOBE NEWSWIRE) — The global nitrile gloves market was valued at US$ 3.34 billion in 2019 and expected to reach US$ 9.41 billion by 2027, with at a compound annual growth rate (CAGR) of 13.8% during the forecast period 2020 to 2027.
Nitrile gloves are significantly used across food and healthcare industry, as a personal protection tool in order to avoid contamination and cross-infection between patients and caregivers. In the recent past, numerous variants of nitrile gloves have been developed and each of them offers advanced benefits over conventional products. Some of these benefits include excellent durability, strength, and barrier protection against micro-organisms and blood borne pathogens. Moreover, nitrile gloves are latex-free that makes them a preferred choice among medical professionals in the treatment of allergic cases.
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What are the Growth Factors?
Rising prevalence of chronic diseases across the globe along with the increasing awareness related to health protection particularly among elder generation estimated to trigger the demand for nitrile gloves. Further, their increased application in the industrial and manufacturing sector owing to numerous benefits such as high strength, durability, friction, and excellent chemical resistance further aids their growth in these sectors over the forthcoming years.
The recent outbreak of COVID-19 pandemic has created an exceptional demand for different Personal Protective Equipment (PPE) that also includes gloves. Disposable gloves are the most preferred choice by healthcare workers in order to avoid cross-contamination while treating or examining a coronavirus patient. This is likely to influence the market for nitrile gloves positively over the analysis period.
- North America led the global market with a value share of more than 35% in 2019 because of increasing elderly population together with rising awareness related to hospital-acquired infections
- The Asia Pacific region estimated to have an attractive growth over the predicted time period due to increasing safety concern in hospitals & medical centers along with rising expenditure in healthcare sector
- The disposable gloves segment dominate the global market covering more than 70% of market share in 2019 and estimated to grow at the fastest rate over the analysis period
- Durable nitrile gloves are thicker compared to disposable gloves that assist them to last longer along with not tear easily that drives their demand across wide applications
- Medical & healthcare is the leading end-use segment because of wide application of the product for preventing cross-contamination along with transmission of pathogens during surgeries & medical examination
- Nitrile gloves are increasingly used in the automotive industry as they offer reduced friction as well as high puncture resistance
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North America dominated the global nitrile gloves market accounting for a revenue share of around 40% in 2019 and expected to witness a growth of nearly 13% in the upcoming years. Significant rate of elder population in the region that are highly prone to communicable and chronic diseases expected to be a major factor that drives the demand for nitrile gloves in the region. Further, the outbreak of COVID-19 has severely impacted the region that has propelled the demand for Personal Protective Equipment (PPE) kits that includes gloves. Among other medical gloves, nitrile gloves are more effective in the protection from the infectious disease as they provide excellent barrier protection.
Other than North America, Europe also accounted for a significant market share in the global market for nitrile gloves owing to significant rise in the number of occupational injuries in the region. Furthermore, increasing requirement for highly effective and durable protective gloves in the industries such as metal manufacturing, food & beverage, automotive, oil & gas, and chemical expected to augment the demand for nitrile gloves in Europe during the analysis period.
The Asia Pacific anticipated being the most attractive region in the upcoming years. The growth of the region is mainly attributed to the growth of industrial sector and healthcare facilities in the region. In addition, shifting manufacturing bases in several industries towards Asia region due to low production cost has also contributed significantly towards the market growth.
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Key Players & Strategies
The key market players in the global nitrile gloves market witness intense competition due to market fragmentation. These industry participants significantly rely on the product differentiation and expansion strategy to retain their global position. In the wake of same, they invest prominently in the Research & Development (R&D) activity. Apart from this, these market players are also adopting merger & acquisition and partnership strategies to gain competitive importance. For instance, in October 2018, Ansell Healthcare Products LLC acquired Digitcare Corporation, a U.S.-based supplier of gloves to the specialty acute markets as well as the U.S. Emergency Medical Services (EMS).
Some of the key players operating in the market are Top Glove Corporation Bhd, Ansell Ltd., Hartalega Holdings Berhad, Adenna LLC, Unigloves (UK) Limited, Kossan Rubber Industries Bhd, MCR Safety, Superior Gloves, Ammex Corporation, and Supermax Corporation Berhad among others.
- Medical & Healthcare
- Oil & Gas
- Metal & Machinery
- Food & Beverage
- Chemical & Petrochemical
By Regional Outlook
- North America
- Asia Pacific
- South Korea
- Rest of the World
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