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BANGALORE, India , Sept. 26, 2023 /PRNewswire/ -- The Nitrile Gloves market is Segmented by Type - Powder Free Nitrile Gloves, Powder Coated Nitrile Gloves, Segment by Application - Medical & Healthcare, Industrial, Food & Beverage, Others. It is published in Valuates Reports under the Medical Devices & Equipment Category. Disposable Vinyl Gloves
The global Nitrile Gloves market was valued at USD 13940 million in 2022 and is anticipated to reach USD 28820 million by 2029, witnessing a CAGR of 10.8% during the forecast period 2023-2029.
Major Factors Driving The Growth Of The Nitrile Gloves Market Are
Increased demand from end-use industries, rising healthcare costs, increased importance of workplace safety, and expanding awareness of healthcare-associated infections are anticipated to propel market expansion.
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TRENDS INFLUENCING THE GROWTH OF NITRILE GLOVES MARKET
Over the projected period, there will likely be an increase in demand from end-use sectors, such as food and beverage and healthcare, as a result of the development of chronic diseases. Nitrile gloves, which are used to stop the spread of viruses, have seen a sharp rise in demand as a result of the abrupt COVID-19 epidemic, propelling the industry's expansion. Furthermore, it is anticipated that throughout the forecast period, the demand for the product would increase due to the expanding healthcare sector and rising hygienic and safety consciousness in developing nations.
Nitrile gloves are appropriate for use in food and dairy applications since they are odorless and have superior solvent resistance. Nitrile gloves are often used in the food industry because they can withstand ISOPropyl Alcohol. Furthermore, due to their latex-free origin and manufacturing process, these gloves are ideal for surgeons or other medical specialists who commonly experience latex allergy. In the dental industry, disposable nitrile gloves, a type of synthetic glove, are frequently used.
Nitrile gloves are useful and widely used by dentists and surgeons because they can withstand solvents and chemicals or provide resistance to them. Additionally, the Food and Drug Administration certifies these gloves for medical usage after they have been developed and subjected to a battery of abrasion resistance tests. This factor is expected to drive the growth of the Nitrile gloves market.
Nitrile gloves are appropriate for use in food and dairy applications since they are odorless and have superior solvent resistance. Nitrile gloves are often used in the food industry because they can withstand ISOPropyl Alcohol. Furthermore, due to their latex-free origin and manufacturing process, these gloves are ideal for surgeons or other medical specialists who commonly experience latex allergy. In the dental industry, disposable nitrile gloves, a type of synthetic glove, are frequently used.
Nitrile gloves are useful and widely used by dentists and surgeons because they can withstand solvents and chemicals or provide resistance to them. Additionally, the Food and Drug Administration certifies these gloves for medical usage after they have been developed and subjected to a battery of abrasion resistance tests.
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NITRILE GLOVES MARKET SHARE ANALYSIS
Key participants in the nitrile gloves market include Hartalega, Top Glove, Kossan, and others. Over 35% of the market is held by the top three producers globally.
With a market share of over 40%, North America leads the way, followed by Japan and Europe , each of which has a market share of over 40%. The geriatric population is growing and healthcare personnel are becoming more aware of healthcare-acquired infections, which are factors contributing to the demand for healthcare services.
Due to their rising popularity across numerous industries, powder-free nitrile gloves will generate more than 82% of the global market in 2022. Additionally, over the course of the forecast period, the market for powder-free nitrile gloves is projected to benefit from severe limitations on powdered gloves by numerous governments globally.
The largest application in terms of use is healthcare, which is followed by industry, etc. For the purpose of minimizing disease transmission and cross-contamination during medical procedures and examinations, the demand for nitrile gloves expanded tremendously. Due to their reduced risk of contamination, disposable nitrile gloves were in high demand.
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- The global Medical Grade Nitrile Gloves market was valued at USD 21000 million in 2022 and is anticipated to reach USD 33960 million by 2029, witnessing a CAGR of 7.1% during the forecast period 2023-2029.
- The global Powder Free Nitrile Gloves market was valued at USD million in 2022 and is anticipated to reach USD million by 2029, witnessing a CAGR of % during the forecast period 2023-2029.
- The global Powder-free Nitrile Disposable Gloves market was valued at USD 4468.3 million in 2022 and is anticipated to reach USD 11300 million by 2029, witnessing a CAGR of 14.0% during the forecast period 2023-2029.
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- The global Nitrile Medical Gloves market is projected to grow from USD 1857.1 million in 2023 to USD 2296.1 million by 2029, at a Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period.
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- The global Lightweight Nitrile Gloves market was valued at USD 38 million in 2022 and is anticipated to reach USD 83 million by 2029, witnessing a CAGR of 12.1% during the forecast period 2023-2029.
- The global Medical Nitrile Exam Gloves market was valued at USD 32 million in 2022 and is anticipated to reach USD 73 million by 2029, witnessing a CAGR of 13.0% during the forecast period 2023-2029.
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- The global Examination Latex and Nitrile Rubber Medical Gloves market is projected to grow from USD 18420 million in 2023 to USD 40260 million by 2029, at a Compound Annual Growth Rate (CAGR) of 13.9% during the forecast period.
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- Electrical Insulating Rubber Gloves market is projected to reach USD 331.3 million by 2028 from an estimated USD 271.7 million in 2022, at a CAGR of 3.4% during 2023 and 2028.
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- Medical Gloves market is projected to grow from USD 5342.3 million in 2023 to USD 7241.3 million by 2029, at a Compound Annual Growth Rate (CAGR) of 5.2% during the forecast period.
- Disposable Medical Gloves market size was USD 5861.2 million and is forecast to be USD 6957.9 Million in 2027, growing at a Compound Annual Growth Rate (CAGR) of 2.9% during 2021-2027.
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