Global nitrile gloves market forecast with a CAGR of 10.4 percent through 2030
New York, NY – The global nitrile gloves market was valued at USD 7.28 billion in 2021 and is expected to grow at a CAGR of 10.4% during the forecast period. Increasing awareness regarding nitrile gloves benefits such as puncture-free properties along with increasing adoption in the healthcare industry is expected to drive the market share over the forecast period according to Polaris Market Research.
Nitrile gloves are composed of a synthetic polymer substance rather than the rubber used in regular gloves. Nitrile gloves include Nitrile Butadiene Rubber (NBR), a synthesized polymer manufactured in a large tank by mixing polymers including acrylonitrile and butadiene. Nitrile gloves are ideal for numerous medical contexts, as they are highly puncture-resistant and eliminate the possibility of latex allergic responses.
The sudden outbreak of COVID-19 has bolstered the demand for the product in the healthcare industry, which has boosted market growth. Furthermore, the commencement of the COVID-19 vaccination program has boosted the demand and is expected to increase over the forecast period. Additionally, the outbreak has led to an increasing demand since scientists agree that single-use nitrile gloves are critical for minimizing virus transmission and making healthcare and scientific processes clean. Moreover, increasing adoption of products in end-use industries due to increasing safety concerns along with increasing investment from public and private companies for product development is expected to create lucrative opportunities for market growth over the forecast period.
Some of the major players operating in the global market include Adventa Berhad (Sun Healthcare), Ansell Ltd., Cardinal Health, Inc, Dynarex Corporation, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd, MCR Safety, Medline Industries, Inc., Rubber Corporation (M) Berhad, Semperit Ag Holding, Supermax Corporation Berhad, and Top Glove Corporation Bhd.
The market is fragmented with the presence large number of players. These players are adopting strategies including mergers & acquisitions, partnership & collaboration, along with new product launches to cater the consumer demand and to increase their customer base. For instance, in January 2021, Ansell Limited announced that it finalized the purchase of the Primus brand and relevant attributes that comprise the Life Science division of Primus Gloves and Sanrea Healthcare Products.