New York, United States, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The Global Nitrile Gloves Market Size is expected to grow from USD 9.2 billion in 2021 to USD 15.6 billion by 2030, at a CAGR of 6.1% during the forecast period 2021-2030. according to a new research report published by Spherical Insights & Consulting. The Asia Pacific is expected to grow the fastest during the forecast period.
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The report identifies that a lack of raw materials constrained the nitrile gloves' global production capacity, and the market for sterile nitrile gloves saw a large increase in demand. Nitrile-based gloves are frequently used to handle chemicals in laboratories and carry out surgical procedures because of their inherent qualities. Additionally, the market for nitrile gloves is benefiting from a growing switch by healthcare professionals from latex to nitrile gloves due to allergy issues with latex gloves. The COVID-19 epidemic boosted the market and exploded demand for nitrile gloves. Nitrile gloves were chosen as a compelling alternative due to the importance of these gloves in avoiding the transmission of infection and maintaining hygienic conditions during laboratory and medical procedures.
Increasing occurrences of allergies and side effects to fuel the demand for powder-free nitrile gloves
Powder-free nitrile gloves are anticipated to observe a growth of 7% during the forecast period. Healthcare institutions are switching from latex gloves to powder-free nitrile gloves because powder-free gloves are less form-fitting after being chlorinated or coated with acrylic, silicone, or hydrogels. Gloves without powder don't leave behind any residue, thus the automotive industry can utilise them. Their growing preference across numerous industries might be credited with the increase. Additionally, during the projection period, the market for powder-free nitrile gloves is projected to benefit from severe limitations on powdered gloves by numerous governments globally.
The escalating healthcare sector is likely to provide growth to the nitrile gloves market
The end-user nitrile gloves segment's medical market is projected to grow at 7.2% gains through 2030. For the purpose of minimising disease transmission and cross-contamination during medical procedures and examinations, the demand for nitrile gloves expanded tremendously. As disposable nitrile gloves lessen the danger that comes with contamination, they are in high demand. Other end-use industries, particularly those in the food and beverage, chemical and petrochemical, and pharmaceutical sectors, are also anticipated to drive up demand for this product.
Browse key industry insights spread across 198 pages with 125 market data tables and figures & charts from the report “Global Nitrile Gloves Market Size, by Type (Powdered and Powder-Free), by Product (Disposable and Durable), by End-User (Medical and Non-Medical), COVID-19 Impact Analysis, Growth Potential, Regional Outlook, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
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Cost-effectiveness and Safety assurance to propel the disposable nitrile gloves demand
The study recognizes that the disposable segment of the nitrile gloves market will showcase remarkable growth during the forecast period. Nitrile disposable gloves should only be used once and then thrown away. Disposable nitrile gloves have a number of benefits, including cost-effectiveness and safety assurance. In the upcoming years, these elements are anticipated to fuel product demand. Disposable nitrile gloves are naturally thinner when compared to durable gloves; thus, they offer higher sensitivity. Moreover, disposable nitrile gloves provide defence against light chemicals and irritants which is anticipated to boost their demand.
North America region emerges as a prominent revenue pocket
North America’s nitrile gloves market accounted for USD 3.5 billion in 2021. The market for nitrile gloves in the North American region has been expanding owing to the increase in healthcare expenditure in the region. Also, the surge in the elderly population and increasing consciousness about infections among healthcare workers acquired while performing medical duties fuels the market. Increased demand for highly effective protective gloves across most primary industries, including food & beverage, metal production, oil & gas, automotive, and chemical, is anticipated to boost market penetration in North America during the forecast period.
The Asia-Pacific market is expected to grow at the fastest CAGR over the forecast period, owing to the prevalence of COVID-19 across countries such as China, India, Indonesia, and Japan. Additionally, it is anticipated that rising industrialization and raising hygiene and safety standards across a variety of healthcare settings in developing nations will have a favourable impact on industry growth. Due to a number of factors, including an ageing population, urbanisation, a better standard of life, and developing healthcare infrastructure, the medical and healthcare industry in China is predicted to grow at a rapid rate. The country's healthcare industry is predicted to increase, which is predicted to support industrial growth, as a result of rising healthcare spending.
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Key Companies & Recent Developments
Key participant operating in the nitrile gloves market are Ansell Ltd, Top Glove Corporation Bhd, Showa Group, Unigloves (UK) Limited, Adenna LLC, Supermax Corporation Berhad, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd, Ammex Corporation, MCR Safety, Superior Gloves, Cardinal Health, and Medline Industries, Inc. and Prominent key players from world.
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