As per the report by Grand View Research Inc., the global Nitrile Gloves Market estimated to value at USD 8.98 billion by 2027. It is estimated to develop by a 14.1% CAGR from 2020 to 2027.
The rising demand for the Nitrile gloves from the medicinal sector, because the Nitrile possesses the property of superior functioning as compared to other category of gloves materials. This is projected to boost the development of the market for Nitrile gloves. The growing concern for fitness and the safety actions owing to the responses in the urgent situation along with rise in need for treatment for patients; contributes to the market demand for Nitrile gloves in the sector of the healthcare.
Nitrile gloves offer safety against the engine oil and the lubricants and are thick, puncture resilient; hence these are used in the automotive industry. The Nitrile rubber offers greater resistance to chemicals, oils and acids, in contrast with other categories of the rubber. Hence, it is anticipated that the market demand will rise from other industries including oil & gas, construction and petrochemical & chemical.
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Effect of Covid-19:
The eruption of the Covid-19 pandemic has produced an extraordinary demand for an extensive variety of PPE kits, comprising gloves. Usually, the disposable gloves are chosen by the healthcare staff to avert cross infection throughout the check up or the treatment. Consecutively, it is expected to influence, optimistically, the demand for the disposable Nitrile gloves in the market, during the period of forecast.
The current eruption of the Covid-19 pandemic is also expected to perform as the foremost factor for triggering the demand for the Nitrile gloves, in the U.S. market. The U.S. is one of the largely affected countries in the world by the corona virus. The fast coverage of the Covid-19 in the country has augmented the demand, particularly from the sector of healthcare, to decrease the additional spreading of the virus
Growing incidences of the eruption of the deadly diseases, such as Swine Flu (H1N1) and Covid-19, along with the increasing demand for the control of the disease, is expected to impel the demand in the market for the Nitrile gloves, during the period of the forecast.
Since, the increasing numbers of the healthcare staff catches infection because of the scarcity of the protecting equipment, the per person utilization of the medicinal gloves, particularly the gloves required for the checkup is projected to observe unexpected provisional rise in demand.
The gloves manufacturing companies are getting pressed as there is heavy demand and struggling to fulfill the sudden rise in the demand. The largest medicinal gloves producer company of the world is transforming its production plants to encounter the augmented demand and to end the gap between the supply and the demand. At the same time the manufacturing companies are facing with the problem of substantial shortage of the workforce.
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Further findings from the report suggest:
- Due to the increasing alertness about the infection, growing elderly population, and increasing spending on the healthcare, the demand for the Nitrile gloves in the North America is projected to observe 13.7% CAGR, during the period of the forecast.
- Since the demand for onetime use gloves is increasing, through the end user industries, after the eruption of the Covid-19 pandemic, the category of disposable Nitrile gloves are estimated to develop by 14.5% CAGR, during the period of the forecast.
- Top Glove Corporation Bhd, declared the acquisition of the Asp ion Sdn Bhd, in April 2018, which was a major player in the production of surgical gloves. 75 production lines got added by this acquisition. Hence, the production capability increased by 4.77 billion gloves, per year.
- In 2019, the end-users such as healthcare and medicinal sectors held 69.4% share of the global revenue. The Nitrile gloves are extensively utilized through the industry because it helps in averting the cross infectivity and the spread of the pathogens for the duration of medicinal checkups and the surgical treatments.
- As a result of possessing the quality of great strength, as equated with powdered gloves and the growing demand from the healthcare industry, the powder-free type Nitrile gloves held 71.3% share of the global revenue, in 2019.
Some of the companies for Nitrile Gloves Market are:
- Superior Gloves
- MCR Safety
- Super max Corporation Berhad
- Hartalega Holdings Berhad
- Medline Industries, Inc.
- Koss an Rubber Industries Bhd
- Ansell Ltd.
- Top Glove Corporation Bhd
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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