Rockville , Feb. 12, 2024 (GLOBE NEWSWIRE) -- The nitrile gloves market is expected to reach US$ 8,617.2 million in 2024. The market is projected to surge at a CAGR of 23.4%, reaching a valuation of US$ 70,755.0 million through 2034.
The growing prevalence of latex allergies is a key factor driving the nitrile gloves market's growth. The increasing use of synthetic rubber in nitrile gloves, which contributes to their high strength, durability, and flexibility, is fueling the market’s expansion.
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The rising prevalence of pandemic diseases such as COVID-19 and swine flu (H1N1) is also propelling the demand for nitrile gloves in the market. Further, the growing significance of workplace safety & security and rising awareness of infections linked to healthcare are driving the market.
Growing research & development efforts and technical advances in production processes are projected to further open up new opportunities for the medical nitrile gloves market. The food & beverage, chemical & petrochemical, and pharmaceutical end-use industries are anticipated to exhibit a greater demand for this product.
The food processing sector is expected to see more awareness and strict rules on quality control & hygiene, thereby pushing the demand for nitrile gloves. The chemical and pharmaceutical industries will likely exhibit increased investments in workers’ safety and security, which are set to further boost growth.
| Report Attribute | Details |
| Value Projection (2034) | US$ 70,755.0 million |
| Growth Rate (2024-2034) | 23.4% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 64 Tables |
| No. of Figures | 192 Figures |
Key Takeaways from the Nitrile Gloves Market Study
- Based on type, the powdered gloves segment is projected to surge at a CAGR of 24.5% by 2034.
- Based on product, the disposable gloves segment is expected to rise 23.2% CAGR by 2034.
- The United States nitrile gloves market is estimated to surge at a 22.3% CAGR by 2034.
- Chile's nitrile gloves market is projected to expand at a CAGR of 27.3% by 2034.
- The global nitrile gloves market is expected to reach a valuation of US$ 70,755.0 million in 2034.
“Due to their exposure to chemicals, pharmaceuticals, and biological agents, workers in the pharmaceutical sector are subject to several workplace risks. As nitrile gloves shield workers from chemical risks and pharmaceutical items from contamination, there will certainly be a rise in demand for these gloves," says a lead Fact. MR analyst.
Competitive Landscape
Key players in the nitrile gloves market include Ansell, Unigloves Ltd., Medline Industries, Kossan Rubber Industries Bhd., Avantor, Hartalega, Blue Sail, Ammex, Kanam Latex, AMY Group, Primus Gloves (P) Ltd., Superior Gloves, MCR Safety, Supermax Corporation Berhad, and Top Glove Corporation Bhd.
Leading players have been growing their businesses through mergers, acquisitions, construction of new production facilities, and geographic expansion plans to meet the rising demand from several industries. Key players also place a lot of emphasis on research & development to create new technologies for nitrile glove production and manufacturing.
For instance,
- In January 2020, Medline Industries, Inc. purchased Médi-Sélect, a distributor of dental and medical supplies located in Quebec City. This action assisted the company in enhancing its distribution system.
- In March 2020, Hartalega Holdings Berhad acquired land in Sepang, Malaysia, to expand its glove production operations.
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Country-wise Insights
Chile's market is poised for exceptional growth, projecting a remarkable CAGR of 27.3% through 2034. The surge is primarily attributed to the increasing demand for nitrile gloves in key countries. The United States is expected to dominate the nitrile gloves industry, surging at a CAGR of 22.3% from 2024 to 2034.
Which Elements Make Chile a Growing Nitrile Glove Market?
"Worker Safety Initiatives by the Government to Increase Demand in Chile"
By 2034, the nitrile glove market in Chile is expected to grow at a compound annual growth rate of 27.3%. A large portion of the nitrile glove demand in Chile's healthcare industry was driven by hospitals, clinics, and other healthcare facilities. There will likely be a noticeable transition from latex to nitrile gloves due to worries about latex allergies and the benefits of nitrile, such as its durability and resistance to punctures.
Why does the US dominate the market for nitrile gloves?
"Increasing Product Development and Innovation in the US to Drive Sales"
Through 2034, the nitrile glove market in the US is predicted to grow at a compound annual growth rate of 22.3%. To differentiate themselves, US-based nitrile glove producers are focusing on innovation and product development.
Distribution channels for nitrile gloves are expanding in the US, with a concentration on e-commerce and online platforms. This move is motivated by the need for procurement that is both accessible and efficient.
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About Fact.MR:
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