Selbyville, Delaware, Dec. 07, 2022 (GLOBE NEWSWIRE) -- As per the report published by Global Market Insights Inc., the global Nitrile Gloves Market was estimated at USD 25 bn in 2022 and is expected to surpass a valuation of $53 bn by 2032, progressing at a CAGR of 9.4% from 2023 to 2032. The report provides a detailed analysis of top winning strategies, drivers & opportunities, competitive scenario, wavering market trends, market size, statistics & estimations, and major investment pockets.
The widespread prevalence of the COVID-19 pandemic worldwide is set to drive market expansion. The U.S. and India had the most COVID-19 infections, with over 82 million and 43 million cases, by April 2022, respectively. The disposable nature of nitrile gloves, as well as their durability, softness, and comfort, make them ideal for healthcare workers by lowering the chance of COVID-19 transmission through contact with contaminated surfaces.
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Furthermore, gloves are becoming increasingly important in industrial food processing and other areas where food is handled, primarily to prevent damage to the hands and skin, but also to minimize any health hazards provided to customers by contaminated products. To that end, governments are imposing several guidelines and regulations to mandate the usage of gloves in the food & beverage industry, which is speculated to support global market growth.
Growing preference in the food industry to propel powder-free segment share
Nitrile gloves market is divided by type into powdered and powder-free. The powder-free segment is likely to be valued at more than USD 40 billion by the end of 2032. Non-powdered gloves are skin-friendly and may be worn for longer periods of time since they are stronger and reduce the risk of allergies due to the absence of powder, thereby increasing product demand. Furthermore, the segment expansion is projected to be fueled by the widespread use of powder-free nitrile gloves in mechanics and the food industry since they do not contain any chemicals.
Key reasons for Nitrile Gloves Market growth:
- North America: Rising healthcare expenditure
- Europe: Significant prevalence of the COVID-19 pandemic
- Asia Pacific: Substantial growth of the chemicals industry
Prevalent use in healthcare facilities to augment medical grade nitrile gloves demand
Nitrile gloves market valuation from the medical grade segment reached over USD 18.5 billion in 2022 and is expected to record significant growth through the projected timeline. Medical grade nitrile gloves are used in healthcare centers as they provide protection against bloodborne pathogens and bodily fluids. The mounting demand for disposable gloves in healthcare centers is set to boost product demand.
Growing use for food preparation to amplify smooth textured nitrile gloves sales
Based on texture, nitrile gloves market share from the smooth segment is poised to surpass USD 6.5 billion in revenue by 2032. Smooth textured gloves are utilized for common tasks, such as food preparation, food service, and hair care applications, which are expected to drive segment expansion. Additionally, with the onset of the COVID-19 pandemic, product demand from traditional users in the medical field soared significantly, and new industries began using gloves for daily tasks, such as front-line employees, transportation workers, and the general public, which is speculated to contribute to industry expansion.
Better protection and grip to favor the automotive segment
Nitrile gloves industry share from the automotive end-use segment is likely to register over 8% gains between 2023 and 2032. Growing safety and protection concerns have raised the demand for nitrile gloves, which protect mechanics and other workers from work-related injuries. Nitrile gloves are considered to be personal protective equipment in the automotive industry owing to their ability to provide protection against a wide range of chemical materials, including alcohol, oil, esters, greases, and caustics, which is anticipated to accelerate segment growth.
Rising focus on hygiene to positively influence the APAC market share
Asia Pacific nitrile gloves market is estimated to develop at more than 10.5% CAGR through the forecast period, the report claims. Rising demand for gloves in healthcare centers, coupled with growing awareness about health and hygiene across APAC nations, is projected to promote product demand in the region. Additionally, the mounting use of examination and surgical gloves is foreseen to fuel the regional industry revenue in the future.
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Strategic investment by leading market players to shape industry outlook
The competitive landscape of the nitrile gloves market consists of Ansell, Unigloves (UK) Ltd, Medline Industries, Kossan Rubber Industries Bhd, Avantor, Semperit AG Holding Company, Hartalega, Blue Sail., Ammex, Kanam Latex, AMY Group, Primus Gloves (P) Ltd., and others. In March 2021, Hartalega Holdings Berhad, a nitrile glove producer, invested USD 1.71 billion towards the construction of 16 new glove factories in Malaysia's northern region over the next 20 years.
Partial chapters of report table of contents (TOC):
Chapter 5 Nitrile Gloves Market, By Type
5.1 Key type trends
5.2 Powdered
5.3 Powder-free
Chapter 6 By Grade
6.1 Key grade trends
6.2 Medical Grade
6.3 Industrial Grade
6.4 Food Grade
Chapter 7 By Texture
7.1 Key texture trends
7.2 Smooth
7.3 Micro-Roughened
7.4 Aggressively Textured
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
