Against the Backdrop of the COVID-19 Crisis, Global Nitrile Gloves Market to Reach a Revised Market Size of US$ 66.8 Billion by 2027 Over the 2020-2027 Analysis Period
As the most favored glove material among healthcare workers, Nitrile Gloves are projected to reach a market size US$66.8 billion by 2027, driven largely by the novel corona virus spreading rapidly across the globe.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the global Nitrile Gloves market. Report segmentation includes Type (Powder-Free, Powdered); End-Use (Healthcare, Chemical, Food Processing, Construction, Other End-Uses).
24 June 1:49 A.M., California/Marketwire/ - According to the new market research report, as the most favored glove material among healthcare workers, Nitrile Gloves are projected to reach a market size US$66.8 billion by 2027, driven largely by the novel corona virus spreading rapidly across the globe. Nitrile gloves come available in powdered or powder-free variants, and are flexible, easily fits various hand sizes, protein-free, latex-free, chemical and puncture resistant, high levels of protection and durability, retains sensitivity to touch, and are free from allergies and skin irritation. Shortage of gloves as the current pandemic rages on is pushing up demand for gloves sky high and because of its heavy-duty protection, nitrile gloves are fast becoming the ideal protective gear to survive the pandemic. By far the worst and the most deadly pandemic in recent history with death tolls surpassing that of MERS (850) and SARS (770), consumers are rushing to pharmacies to buy protective gloves creating.
The death toll currently stands at 134,677 and continues to rise at alarming speeds. As the health crisis continues to deepen, the world is scrambling to meet a critical shortage of protective wear. With studies proving gloves to be effective in protecting against covid-19, what the world needs now are medical gloves. Over 80 million gloves are needed by COVID-19 health response teams each month worldwide. Over 45% increase in personal protective equipment (PPE) production is needed to meet the world`s rising demand to fight the pandemic. A frightening crisis is now unfolding, as growing numbers of frontline healthcare workers get infected due to shortage of protective gear. As a result per capita consumption of medical gloves, especially examination gloves is expected to witness a sudden temporary spike as the pandemic continues to ravage the world.
As distressed governments float global tenders for PPE equipment, glove manufacturers are being pushed into overdrive as they struggle to meet the spike in demand. Top Glove Corporation, the world`s largest manufacturer of medical gloves, is modifying its production lines to meet increased demand and close the demand and supply gap. Disruptions nevertheless are creating serious risks with companies grappling with massive shortage of workers. Staging an early recovery from the pandemic, China`s restarting of medical supplies production for global exports offers hope in easing the pressure at least partially. Under this scenario of changing dynamics, the market is ready for significant upward revision in growth forecasts in the short-term. Nitrile gloves are available in varied lengths from forearm to wrists. Some widely used nitrile gloves` applications include laboratory testing and examination gloves, while improved strength of the gloves is leading to their varied uses in several end-use industries. The applications of the gloves range from handling harmful materials that include chemotherapy chemicals to the regular exam room checks.
While nitrile gloves are more expensive than PVC gloves, they offer more functionality and are more flexible compared to PVC. Nitrile stretches more and enables relaxed and flexible hand movement even in prolonged wear. Nitrile rubber is a synthetic rubber copolymer of butadiene and acrylonitrile. This rubber generally exhibits strong resistance to fuel, oil and chemicals, although the chemical and physical characteristics vary based on the polymer`s composition of nitrile. The resilience of this rubber makes it highly beneficial for manufacturing examination, cleaning and disposable lab gloves, enabling manufacturers to charge a premium when compared to natural rubber gloves. Nitrile gloves can be produced with reduced wall thickness, which enables glove producers to optimize cost of raw materials. As a result of being free from chemical accelerators and proteins, use of the material facilitates in shortening the production process, which also lowers energy consumption. As compared to rubber gloves, manufacturing costs associated with nitrile gloves can be 15%-25% lesser, as relatively lower raw material prices and light weight compensate for the requirement for higher proportion of raw materials.
Key Competitors Covered in the Report
Cardinal Health Inc.
Dipped Products PLC
Hartalega Holdings Berhad
Honeywell International Inc.
Kossan Rubber Industries Bhd.
Latexx Partners Bhd.
Longcane Industries Sdn. Bhd.
Riverstone Resources Sdn Bhd
Rubberex (M) Sdn Bhd
Supermax Corporation Berhad
Top Glove Corporation Bhd
Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 1106. Among this pool, 199 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 44 unique participations, a total of 21 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
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