Ever-rising Demand for Medical-Grade Disposable Gloves Main Driver for Nitrile Gloves Market Growth: Fact.MR Study

Seoul, South Korea, Aug. 23, 2022 (GLOBE NEWSWIRE) -- The global nitrile gloves market is currently valued at around US$ 41 billion and is anticipated to expand at a stupendous CAGR of 23% through 2026, reveals Fact.MR analyst, a market research and competitive intelligence provider.

Around the world, the number of surgical procedures keeps going up. The use of allergy-free and sterile nitrile gloves in surgical procedures for different health issues is anticipated to increase. Leading manufacturers of nitrile gloves are concentrating on clinical research and cutting-edge new product launches to facilitate successful surgeries for trauma and other conditions.

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The need for surgical gloves has increased dramatically over the past ten years as a result of periodic disease outbreaks such as Ebola, Zika, and the current debilitating COVID-19 pandemic. Medical nitrile gloves are crucial to the healthcare system because they safeguard both patients and caregivers. Some of the main growth factors for the market include rising need for surgeries, improved healthcare systems, and the growing need for sterile nitrile gloves.

Since nitrile gloves are a generic medical product, the market for them is extremely cutthroat. The combination of simple manufacturing processes, low entry barriers, and cheap access to raw materials is predicted to fuel fierce competition. To achieve large sales volumes and profits, businesses are anticipated to compete mainly on pricing.

Which Latest Trends & Innovations in Nitrile Gloves are Influencing Market Growth?

“Nitrile Coated Gloves - An Emerging Choice in Industrial Gloves Market”

Due to rising concerns about latex allergies and increased awareness about the advantages of gloves in the healthcare sector, the market for nitrile gloves is anticipated to expand rapidly on a global level. The synthetic material used to make nitrile gloves provides the gloves with strength, flexibility, and durability.

These also contain no latex, which encourages users who are allergic to latex to use them. Increasing powder-free nitrile glove use across a variety of industries, including the metal & machinery, chemicals, and oil & gas sectors, is anticipated to fuel market expansion over the coming years.

Nitrile gloves have a good grip and are cut- and abrasion-resistant, as well as resistant to chemical deterioration. These characteristics of nitrile gloves are boosting their demand in a variety of global businesses.

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Key Segments Covered in the Nitrile Gloves Industry Survey

• By Type :
  
  
  • Powder-free Nitrile Gloves
    
  • Powdered Nitrile Gloves

• By Product :
  
  
  • Disposable Nitrile Gloves
    
  • Durable Nitrile Gloves

• By End Use :
  
  
  • Medical & Healthcare
    
  • Automotive
  • Oil & Gas
  • Food & Beverages
  • Metal & Machinery
  • Chemicals & Petrochemicals
  • Pharmaceuticals
  • Cleanrooms
  • Others
    
    
• By Region :
  
  
  • North America
    
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

Winning Strategy

Leading companies are focused on two key strategies to expand their product portfolios in the nitrile glove market: product development and new material use. It is expected that the use of special techniques to acquire raw latex devoid of allergies and the introduction of an anti-microbial substance in nitrile gloves will provide value-added gains in clinical uses.

• As the demand for hand protection has increased as a result of the COVID-19 pandemic, Hartalega Holdings Berhad stated in March 2020 that it had purchased land to expand its glove production facility in Sepang, Malaysia.
  

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Key players in the Nitrile Gloves Market

• Ansell Ltd
• Top Glove Corporation Bhd
• Hartalega Holdings Berhad
• Unigloves (UK) Limited
• Adenna LLC
• Kossan Rubber Industries Bhd
• Superior Gloves
• MCR Safety

Key Takeaways from Nitrile Gloves Market Study

• Nitrile disposable gloves should only be used once and thrown away. Disposable nitrile gloves have a number of benefits, including cost-effectiveness and safety assurance. Over the coming years, these factors are anticipated to fuel product demand.
• Healthcare institutions now use powder-free nitrile gloves instead of latex ones because powder-free gloves are less form-fitting after being coated with acrylic, silicone, hydrogels or chlorinated. Since powder-free gloves don't leave any residue, they can be used in the automobile sector as well.
• Worldwide sales of nitrile gloves are expected to increase rapidly at a CAGR of 23% from 2022 to 2026.
• The U.S. market for nitrile gloves is valued at around US$ 13 billion in 2022.
• The global market for nitrile gloves is predicted to bloat to US$ 94 billion by the end of 2026.
  

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