The global nitrile gloves market size was USD 8.06 billion in 2022 and is expected to reach USD 13.62 billion in 2032
NEW YORK, NY, UNITED STATES, May 4, 2023 /EINPresswire.com/ — In 2022, the global Nitrile Gloves Market size was USD 8.06 billion, with an expected increase to USD 13.62 billion by 2032, resulting in a 6% revenue CAGR during the forecast period. Compared to traditional latex gloves, nitrile gloves are made of synthetic rubber and are more resistant to chemicals, punctures, and tears, making them increasingly popular in industries where workers are exposed to harmful compounds, such as manufacturing, construction, and automotive sectors.
The demand for nitrile gloves is expected to increase even further due to strict government regulations and requirements for workplace safety and hygiene. For example, in the U.S., OSHA mandates that firms provide proper hand protection for workers who handle hazardous materials. In addition, the FDA regulates the use of nitrile gloves in the food and pharmaceutical industries to ensure consumer safety. Furthermore, the healthcare sector’s increasing use of nitrile gloves is a major factor contributing to the market’s revenue growth since they provide better protection against infectious diseases and bloodborne pathogens than latex gloves.
The creation of innovative nitrile glove technologies, such as powder-free gloves, textured surface gloves, and gloves with longer cuffs, is driving market revenue growth as well. Nitrile gloves are now more comfortable and functional than before, making them more popular among users.
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Despite the significant growth of the nitrile gloves market in recent years, several factors are expected to limit revenue growth. One of the primary factors is the volatility in raw material prices since the primary component of nitrile gloves is petroleum-derived nitrile butadiene rubber, which can make it challenging for manufacturers to maintain competitive costs. Additionally, the rising popularity of alternatives such as vinyl and latex gloves can pose a challenge to the nitrile gloves market. In some areas, these other types of gloves may be more widely available and affordable, leading to lower demand for nitrile gloves.
Finally, environmental concerns about glove waste are also impacting market revenue growth. As awareness of plastic pollution grows, several groups and individuals are promoting reduced usage of single-use products, including gloves. This trend could lead to reduced future demand for nitrile gloves, particularly in environmentally conscious markets.
Segments Covered in the Report –
Nitrile gloves are a type of disposable glove that is made from synthetic rubber, which is resistant to chemicals, tears, and punctures. They have become increasingly popular in various industries, such as medical, industrial, food and beverages, and chemicals, due to their superior protective qualities compared to traditional latex gloves. In this article, we will discuss the nitrile gloves market based on its type and application outlook.
The nitrile gloves market can be segmented based on type outlook into powdered and powder-free nitrile gloves. Powdered gloves are coated with a fine powder to make them easier to put on and remove. They are also less expensive than powder-free gloves. However, some users may experience allergic reactions to the powder, and it may contaminate certain products, making them unsuitable for use in some industries. On the other hand, powder-free nitrile gloves are more expensive, but they provide a cleaner and more hygienic option, making them the preferred choice for medical and food-related applications.
The nitrile gloves market can also be segmented based on application outlook into medical, industrial, food and beverages, chemicals, and others. The medical sector is the largest application segment, accounting for a significant portion of the nitrile gloves market. The use of nitrile gloves in the medical industry has increased due to their superior protection against infectious diseases and bloodborne pathogens. They are also widely used in dental and veterinary practices.
The industrial sector is another significant application segment of the nitrile gloves market. Nitrile gloves are used in various industries, including manufacturing, construction, and automotive, where workers are exposed to potentially harmful compounds. The use of nitrile gloves in the industrial sector is expected to increase due to stringent government rules and regulations for workplace safety and cleanliness.
The food and beverages sector is another prominent application segment of the nitrile gloves market. Nitrile gloves are widely used in the food processing and preparation industry to prevent contamination and maintain hygiene. They are also used in the catering and hospitality industries to ensure food safety and prevent the spread of diseases.
The chemicals sector is also a significant application segment of the nitrile gloves market. Nitrile gloves are used in the handling of chemicals, acids, and solvents, where workers are at risk of skin irritation or chemical burns. They provide excellent resistance to chemicals, making them a popular choice in the chemical industry.
Finally, the nitrile gloves market also serves other application segments, such as the beauty and salon industry, janitorial services, and scientific research. As a result of the increasing demand for nitrile gloves, manufacturers are developing new technologies, such as textured surfaces, longer cuffs, and powder-free gloves, to improve their functionality and comfort, making them more popular among users.
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Strategic development:
In March 2021, Top Glove Company Bhd acquired Aspion Sdn Bhd, a Malaysian glove maker, for RM1.37 billion (US$334.6 million). The objective of this purchase was to broaden Top Glove’s product line and increase its production capacity. Similarly, Ansell Ltd acquired Indian glove producer Primus Gloves Pvt Limited in January 2021 for an undisclosed sum, in order to expand its product lineup and enhance its market share in India.
Kossan Rubber Industries Bhd announced in August 2020 that it had formed a joint venture with Foshan Nanhai Lovely Nonwoven Co. Ltd to manufacture and market nitrile gloves in China, with the intention of increasing its market share in China. In May 2020, Supermax Company Berhad signed an agreement with the Malaysian government to build a new glove manufacturing facility in the country, aimed at expanding Supermax’s production capabilities and meeting the growing demand for nitrile gloves.
Competitive Landscape:
The global nitrile gloves market is dominated by several major players, including Hartalega Holdings Berhad, Top Glove Corporation Bhd, Kossan Rubber Industries Bhd, Supermax Corporation Berhad, McKesson Corporation, Ansell Limited, Cardinal Health, Inc., B. Braun Melsungen AG, Molnlycke Health Care AB, and Kimberly-Clark Corporation.
Top Glove Corporation Bhd is one of the largest manufacturers of nitrile gloves worldwide, with a production capacity of over 80 billion gloves annually. Hartalega Holdings Berhad is another significant player in the market, with a focus on producing high-quality nitrile gloves for the medical industry. Kossan Rubber Industries Bhd is a Malaysian-based company that produces nitrile gloves for both medical and non-medical applications.
Supermax Corporation Berhad has a strong presence in the Malaysian market and is expanding its production capacity to meet the growing demand for nitrile gloves. McKesson Corporation is a global healthcare services and medical supplies provider that offers nitrile gloves for medical use. Ansell Limited is a leading provider of protective gloves, including nitrile gloves, for industrial and healthcare applications.
Cardinal Health, Inc. is a major distributor of healthcare products, including nitrile gloves. B. Braun Melsungen AG is a German-based medical device and pharmaceutical company that produces nitrile gloves for surgical and medical procedures. Molnlycke Health Care AB is a Swedish-based company that specializes in producing medical products, including nitrile gloves. Kimberly-Clark Corporation is a leading provider of personal care products, including nitrile gloves for industrial and medical applications.
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