Wilmington, Delaware, Nov. 10, 2023 (GLOBE NEWSWIRE) -- Allied Market Research recently published a report, titled, "Nitrile Gloves Market by Type (Powdered, Powder-free), by End-use (Medical and Healthcare, Automotive, Oil and Gas, Food and Beverage, Metal and Machinery, Chemical and Petrochemical, Pharmaceutical, Cleanroom, Others), by Product (Disposable, Durable): Global Opportunity Analysis and Industry Forecast, 2021-2031." As per the report, the global nitrile gloves industry generated $9.4 billion in 2021, and is estimated to hit $16.9 billion by 2031, registering a CAGR of 6.1% from 2022 to 2031.
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Drivers, restraints, and opportunities
The growth of the global nitrile gloves market is driven by anti-static, solvent resistance, and odor-free features of nitrile gloves and wide use of nitrile gloves for serving food and dairy items. However, the low tactile sensitivity of nitrile gloves in comparison to latex gloves is expected to hamper the market growth across the globe. Nevertheless, the rise in demand for durable nitrile gloves will open new opportunities for the growth of the industry in the years ahead.
The disposable segment to dominate the trail over 2022-2031
By product, the disposable segment accounted for the highest market share in 2021, holding nearly three-fourths of the global nitrile gloves market share. The same segment is also anticipated to dominate the market growth over the forecast period. In addition, this segment is estimated to exhibit the highest CAGR of 6.3% over the forecast period, attributed to enhanced puncture resistance, a high level of protection, and minimal abrasion for easy doffing & donning.
The powder-free segment to hold the major market share in terms of revenue in 2031
By type, the powder-free segment is dominated the trail with the highest market share in 2021, holding four-fifths of the global nitrile gloves market share and is estimated to contribute majorly toward the global market share. Moreover, the same segment is garnering the fastest CAGR of nearly 6.2% over the forecast period, owing to its enhanced solvent resistance, anti-static nature, and massive use in food & dairy applications.
The medical and healthcare segment to lead the global market by 2031
By end-use, the medical and healthcare segment generated the highest market share in 2021, holding three-fourths of the global nitrile gloves market share and is set to dominate the global market share in 2031. This segment is also projected to grow at the fastest CAGR of 6.3% during the forecast timeline. This is owing to the use of nitrile gloves in the medical and healthcare segment.
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North America to retain global market domination throughout the forecast period
Region-wise, North America held the highest market share in 2021 with more than one-third of the global nitrile gloves market share in 2021 and is expected to continue its dominance during the forecast period, owing the utilization of nitrile gloves in medical, manufacturing, oil & gas, and other sectors. However, the Asia-Pacific nitrile gloves market is estimated to witness the highest CAGR of 6.6% during 2022 to 2031, owing to huge product penetration in the medical and healthcare sector in the region.
Major Market Players
- Medline Industries
- Carolina Glove & Safety Company
- Dynarex Corporation
- Superior Glove
- Top Glove Corporation Bhd
- Unigloves (Uk)
- Hartalega Holdings Berhad
- Adventa Berhad
- ANSELL LTD
- Kossan Rubber Industries Bhd
- MCR Safety
- Rubberex Corporation (M) Berhad
The report provides an elaborative analysis of these key players in the global nitrile gloves market. The report mentions all the business strategies such as business expansion, new product launches, acquisition, collaboration and others adopted by these players in order to increase their market share and maintain dominant shares in different regions.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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