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The global nitrile gloves market is projected to reach $16.9 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. Cleanroom Safety Gloves
WILMINGTON, DELAWARE, UNITED STATES, June 14, 2024 /EINPresswire.com/ -- The global nitrile gloves industry was estimated at $9.4 billion in 2021, and is set to reach $16.9 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. Anti-static, solvent resistance, and odor-free features of nitrile gloves drive the expansion of the global nitrile gloves market. The large-scale use of nitrile gloves for serving food and dairy items will further boost global market trends. Nevertheless, the low tactile sensitivity of nitrile gloves in comparison to latex gloves can hinder market growth across the globe. However, the rise in demand for durable nitrile gloves will open new vistas of growth for the global industry in the years ahead.
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Allied Market Research recently published a report, titled, "Nitrile Gloves Market by Type (Powdered, Powder-free), by End-use (Medical and Healthcare, Automotive, Oil and Gas, Food and Beverage, Metal and Machinery, Chemical and Petrochemical, Pharmaceutical, Cleanroom, Others), by Product (Disposable, Durable): Global Opportunity Analysis and Industry Forecast, 2021-2031."
Major Market Players Adventa Berhad ANSELL LTD Carolina Glove & Safety Company Dynarex Corporation Kossan Rubber Industries Bhd MCR Safety Medline Industries Rubberex Corporation (M) Berhad Superior Glove Top Glove Corporation Bhd Unigloves (Uk) Hartalega Holdings Berhad
The report analyzes these key players in the global nitrile gloves market. These players have implemented key business strategies such as strategic expansion, new product launches, alliances, and joint ventures for enhancing market penetration and reinforcing their position in the industry. The report helps the target audience in determining the market performance, performance of each segment, product portfolio development in the market, and contributions made by each player to the market expansion.
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Key findings of the study
By type, the powder-free segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.2% from 2022 to 2031. By product, the disposable segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.3% from 2022 to 2031. By end use, the medical and healthcare segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 6.3% from 2022 to 2031. By region, Asia-Pacific garnered the highest share of 28.6% in 2021, in terms of revenue, growing at a CAGR of 6.6%.
The powder-free segment to dominate the global market in terms of revenue in 2031 Based on the type, the powder-free segment is set to contribute to the highest market share in 2021, accounting for four-fifths of the global nitrile gloves market share. Furthermore, the segment is projected to contribute majorly toward the global market share. Moreover, the same segment is set to record the fastest CAGR of nearly 6.2% over the forecast period. The growth of the segment over the forecast timeframe can be attributed to its anti-static nature, enhanced solvent resistance, and massive use in food & dairy applications. The report also analyzes other segments such as the powdered segment.
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The disposable segment to hold the major market share over 2022-2031 On basis of the product, the disposable segment contributed to the highest market share in 2021, accounting for nearly three-fourths of the global nitrile gloves market share. Furthermore, the same segment is anticipated to dominate the market growth over the forecast period. In addition, the disposable segment is predicted to record the highest CAGR of 6.3% over the forecast period. The growth of the segment over the forecast timeline can be attributed to a high level of protection, enhanced puncture resistance, and minimal abrasion for easy doffing & donning. Furthermore, disposable gloves are used in dental applications and are approved by Food and Drug Administration for medical usage. The report also includes other segments such as the durable segment.
The medical and healthcare segment to dominate the global market by 2031 In terms of the end-use, the medical and healthcare segment contributed to the highest market share in 2021, accounting for three-fourths of the global nitrile gloves industry share. Moreover, the same segment is set to make notable contributions toward the global market share in 2031. In addition, the same segment is predicted to register the fastest CAGR of 6.3% during the forecast timeline. The segmental growth over the forecast timeframe can be attributed to the use of nitrile gloves in the medical and healthcare segment. Medical and healthcare nitrile gloves are proven to offer resistance to bodily fluids, microorganisms, and chemicals. In addition, owing to latex-free formulation, nitrile gloves are suitable to be used with health professionals that are prone to Type I allergies. Majorly, powder-free nitrile gloves are used in the medical and healthcare industries as these offer flexibility, tactility, tear, and chemical resistance. The report also includes other segments such as automotive, oil and gas, metal and machinery, food and beverage, pharmaceutical, chemical and petrochemical, cleanroom, and others.
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North America to retain global market domination over 2022-2031 By Region, North America contributed notably toward the global nitrile gloves market share in 2021, and is projected to continue its dominance during the forecast period. The region accounted for more than one-third of the global nitrile gloves market share in 2021. The growth of the market in the region over the forecast timespan can be credited to the utilization of nitrile gloves in medical, oil & gas, manufacturing, and other sectors. However, the Asia-Pacific nitrile gloves market is set to record the highest CAGR of 6.6% during 2022-2031. The growth of the regional market over the forecast period can be credited to massive product penetration in the medical and healthcare sector in the region.
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