Global Nitrile Gloves Market to Reach $57.1 Billion by 2026
Time:Oct 22, 2021

Abstract: Global Nitrile Gloves Market to Reach $57. 1 Billion by 2026 . Nitrile gloves are among the most preferred disposable glove options, offering the benefits of latex such as strength, durability, and flexibility, without risks involving latex allergy.

New York, Oct. 22, 2021 (GLOBE NEWSWIRE|)announces the release of the report "Global Nitrile Gloves Industry" .
The gloves find widespread usage in all industries globally; being used for providing protection and safety for industry workers as well as materials that are handled. These gloves, manufactured from synthetic rubber offer safe, reliable, and stain resistant solutions for end users. Nitrile gloves are puncture-resistant, friction less, with a long shelf life in comparison to latex gloves and are ensure protection from a wide range of hazardous viruses and chemicals. Being rupture-resistant, they are used in laboratories for providing high durability and barrier protection. Offered in both powdered and non-powdered versions, nitrile gloves have gained notable acceptance on the expense of powdered latex gloves over the last several years. Nitrile represents a chemical compound based on carbon and triple-bonded nitrogen, which is commonly used for making different types of gloves, mainly disposable thin nitrile gloves. While nitrile is comparable to latex, it holds certain advantages that make nitrile gloves an effective alternative to powdered latex gloves. Nitrile represents a synthetic rubber that offers a desirable material for gloves due to its superior chemical resistance and elasticity. Nitrile gloves score high in terms of fit, wearing comfort, elasticity and tear resistance. Nitrile gloves exhibit high resistance to different types of oils and chemicals as well as present a suitable option for individuals with allergy to latex. Nitrile gloves hold several merits over nature rubber in terms of strength and durability along with resistance to oils, acids and chemicals.

Based on their inherent properties, nitrile-based gloves are widely used to handle chemicals in laboratories and perform surgical procedures. In addition, the nitrile gloves market is gaining from increasing shift of healthcare professionals from latex towards nitrile gloves due to allergy concerns associated with latex gloves. The market received a considerable push from the COVID-19 outbreak that created exponential demand for nitrile gloves. Infection risk and implementation of strict hygiene protocols established nitriles gloves as a compelling option as these gloves play an important role in preventing spread of the infection while keeping laboratory and medical procedures sanitary.

Amid the COVID-19 crisis, the global market for Nitrile Gloves estimated at US$14.1 Billion in the year 2020, is projected to reach a revised size of US$57.1 Billion by 2026, growing at a CAGR of 23.3% over the analysis period. Powder-Free, one of the segments analyzed in the report, is projected to grow at a 24.8% CAGR to reach US$59.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Powdered segment is readjusted to a revised -2.8% CAGR for the next 7-year period. This segment currently accounts for a 9.6% share of the global Nitrile Gloves market.

The U.S. Market is Estimated at $11.4 Billion in 2021, While China is Forecast to Reach $13.6 Billion by 2026

The Nitrile Gloves market in the U.S. is estimated at US$11.4 Billion in the year 2021. The country currently accounts for a 33.58% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$13.6 Billion in the year 2026 trailing a CAGR of 29.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 18.3% and 22.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 20.2% CAGR while Rest of European market (as defined in the study) will reach US$14.8 Billion by the close of the analysis period.

The pandemic has led to remarkable spike in personal protective equipment demand from the healthcare industry and the general public. The scenario made it extremely challenging for manufacturers and other businesses to maintain desirable stock for ensuring employee safety. While the initial focus was on notable shortage of KN95 masks, the short supply and escalating unit prices of nitrile gloves emerged as major concerns. Majority of hospitals and healthcare facilities were left struggling with shortage of medical-grade gloves rather than protective gowns and face masks. While significant shortages of essential items such as face masks, respirators and disinfecting wipes led to safety concerns, the sudden drop in availability of nitrile gloves remains a formidable challenge for healthcare facilities that rely heavily on these gloves owing to their high durability along with puncture
and chemical-resistant nature.

Disposable nitrile gloves experienced a dramatic incline in global demand amid COVID-19 that grew three-fold in 2020. The incredible increase in demand was witnessed over a short span due to high use by healthcare professionals and the implementation of strict hygiene protocols. In addition, various health systems and government entities started stockpiling for dealing with another wave of the pandemic. Majority of healthcare facilities globally reported notable drop in supply of medical-grade gloves. While global demand associated with nitrile gloves touched the 500 billion plus mark in 2020, manufacturers were able to product just 370 billion units. Meanwhile, the nitrile gloves market also faced supply challenges as pandemic disrupted production at various facilities.

Various health organizations and hospitals failed to ensure adequate supply of gloves for medical use. The scenario resulted in national shortage of medical-grade gloves in various countries, which coerced medical professionals to reuse disposable gloves. The nitrile gloves demand is likely to remain unabated in the coming months. In addition, the short supply of nitrile gloves also affected the manufacturing along with other industries. Nitrile gloves are considered as critical safety product for various industrial activities that demand hand protection. The global supply chain for nitrile gloves continues to experience tremendous strain owing to inflated demand coupled with drastically low supply of the personal protective equipment. While nitrile glove manufacturers are working at their full capacity, the supply has been unable to match the demand since the outbreak of COVID-19 in 2020. The gap is affecting a large number of end-users, including healthcare professionals and other industrial users.

In addition, there is stark shortage of nitrile gloves across various US states, indicating significant mismatch between demand and supply. The global demand for nitrite gloves is anticipated to remain unabated in the coming months on account of increasing need for protection to healthcare professionals as well as general public and workers across different industry verticals. Furthermore, the announcement of COVID-19 vaccination programs across different countries is poised to provide a significant impetus to global demand for these gloves. Healthcare and government organizations conducting these vaccination programs are required to ensure sufficient availability of nitrile gloves for medical professionals intended to administer the COVID-19 to people for desirable hand hygiene and protection.

By End-Use, Healthcare Segment to Reach $48.9 Billion by 2026

Global market for Healthcare (End-Use) segment is estimated at US$10.3 Billion in 2020, and is projected to reach US$48.9 Billion by 2026 reflecting a compounded annual growth rate of 26.1% over the analysis period. The United States constitutes the largest regional market for Healthcare segment, accounting for 31.9% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 31.1% over the analysis period, to reach US$13.4 Billion by the end of the analysis period.

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