Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "Nitrile Gloves: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Nitrile Gloves Market to Reach $121.1 Billion by 2030
In the changed post COVID-19 business landscape, the global market for Nitrile Gloves estimated at US$40.8 Billion in the year 2022, is projected to reach a revised size of US$121.1 Billion by 2030, growing at a CAGR of 14.5% over the analysis period 2022-2030.
Powder-Free, one of the segments analyzed in the report, is projected to record 14.9% CAGR and reach US$120 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Powdered segment is readjusted to a revised -2.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $12.8 Billion, While China is Forecast to Grow at 17.3% CAGR
The Nitrile Gloves market in the U.S. is estimated at US$12.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$32.8 Billion by the year 2030 trailing a CAGR of 17.3% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.7% and 13.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 12.2% CAGR.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel.
Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year. Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Metrics
| Report Attribute | Details |
| No. of Pages | 625 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $40.8 Billion |
| Forecasted Market Value (USD) by 2030 | $121.1 Billion |
| Compound Annual Growth Rate | 14.6% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- Global Nitrile Gloves Market Witnesses Exponential Demand amid COVID-19 Crisis
- Industry Faces a Staggering Demand-Supply Gap
- Factors Responsible for Unwavering Demand
- Reasons for Supply Shortage
- Nitrile Gloves Shortage and Production Challenges in the US
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Nitrile Gloves: A Prelude
- Nitrile Gloves Enjoy Increasing Uptake on Expense of Powdered Latex Gloves
- Synthetic Materials and Their Forte in a Nutshell
- Outlook
- Factors Hampering Growth
- Powder Free Gloves Register Strong Growth
- Healthcare Segment Witnesses Rapid Growth
- Developing Countries Hotspots for Future Growth
- Global Production Landscape
- Manufacturers Ramp Up Production Capacity to Meet Surging Demand for Nitrile Gloves
- Competition
- Hartalega's NGC Project: Capacity and Timelines
- Recent Market Activity
- World Brands
MARKET TRENDS & DRIVERS
- Nitrile Glove Frenzy & Skyrocketing Prices: A Lucrative Opportunity for Suppliers
- Focus on Hand Hygiene to Curb Rising Incidence of Hospital Acquired Infections Propels Market Growth
- Leading Nosocomial Infections in the US: Percentage Breakdown of Healthcare Cost from Leading Five Infections
- Spectrum of Salient Drivers Augmenting Growth of Medical Nitrile Gloves Market
- Rising Cases of Chronic Wounds
- Prevalence of Chronic Wounds: Select Statistics
- Increasing Number of Cosmetic & Plastic Surgeries
- Rise in Number of Diagnostic Laboratories Spurs Demand for Medical Gloves
- Vinyl Hybrid Gloves Gain Traction
- Rise in Adoption of Textured Nitrile Gloves
- Growth in the Food Processing Sector and Emphasis on Food Safety Augurs Well for Nitrile Gloves Market
- Rising Importance of Hand Protection Supports Demand for Protective Gloves in the Industrial Sector
- EXHIBIT : Untapped Potential in Asia as Measured by Lower Per Capita Glove Usage, Throws the Region into the Spotlight as the Focal Point for Future Growth in the Protective Gloves Market: Per Capita Glove Usage (In Pcs) by Select Country/Region
- Workplace Safety Requirements Spur Demand
- Annual Workplace and Work Related Fatalities (in Thousands) by Region
- Nitrile Gloves Find Broader Uptake in Automotive Industry
- Industry Witnesses Increased Demand for Micro-Roughened Nitrile Gloves
- Companies Explore the Recycling of Medical Gloves
- Manufacturers Focus on Biodegradable Gloves and Other Innovations
- Select Innovations
- Counterfeit Gloves Entering the Supply Chain Form a Major issue
FOCUS ON SELECT PLAYERS (Total 190 Featured)
- 3M Company
- Ansell Ltd.
- Cardinal Health, Inc.
- Dynarex Corporation
- Hartalega Holdings Berhad
- Honeywell International Inc.
- Kossan Rubber Industries Bhd
- Nitriflex
- Rubberex Corporation (M) Berhad
- Supermax Corporation Berhad
- Top Glove Corporation Berhad
- United Glove Inc.
For more information about this report visit https://www.researchandmarkets.com/r/8vlmz3
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