Nitrile Gloves Market: Current Analysis and Forecast (2024-2032)

Report Description

Nitrile Gloves Market Size & Forecast

The Nitrile Gloves Market was valued at approximately USD 3.5 Billion in 2023 and is expected to grow at a robust CAGR of around 9.5% during the forecast period (2024-2032). New investment in the production of nitrile rubber is fueled by the rising need for long-lasting and oil-resistant material in automotive, healthcare, and various industries.

Nitrile Gloves Market Analysis

Nitrile gloves are a medical or non-medical safety product that is used in different sectors and the growth of this market is mainly due to the nature of the disease and the risk of cross infection, global demand for PPE including masks, face shields, protective gowns, and protective glasses has been witnessing a sudden increase, and nitrile gloves are no exception. Moreover, various factors such as growing research and development activities in the chemistry labs or laboratories are also expected to drive the demand for nitrile gloves over the forecast period. For instance, According to ILAC MRA and Signatories, in 2021, almost 85,000 laboratories, almost 13,000 inspection bodies, over 600 proficiency testing providers, and 250 reference material producers were accredited globally.

Nitrile Gloves Market Trends

This section discusses the key market trends influencing the fungicide segments as identified by our research experts.

Non-Powered Category Segment Transforming Industry

Based on type, the nitrile gloves market is segmented into powdered and non-powdered. The non-powdered category is anticipated to witness a considerable growth rate during the forecast period. This is mainly due to the rising use of gloves in various sectors such as the oil and gas industry growth, and manufacturing units to prevent contamination, infections, and safety causes. These factors are further contributing to the growth of this segment during the forecast period. Moreover, in the automotive industry gloves are used in different manufacturing processes such as greasing, painting, oil, and chemical procedures.  For instance, according to the European Automobile Manufacturers Association (ACEA), in 2021, around 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020.

North America accounted for a significant share of the market

North America accounted for a considerable market share during the forecast period. This is mainly due to the rising demand for nitrile gloves in healthcare & industries, and the presence of medical product manufacturers. Moreover, increasing safety measures in the chemical & petrochemical industries to provide excellent protection against acids, oils, inks, and alcohols also boost the market growth in the region. For instance, according to an annual report from the American Chemistry Council (ACC), the US chemical industry turned around in 2021, posting a 1.4% growth in production volume, excluding pharmaceuticals, versus a 3.5% decline in 2020 due to global Covid-19 pandemic restrictions.

Nitrile Gloves Industry Overview

Nitrile Gloves is competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are ANSELL LTD, Semperit AG Holding, Medline Industries, LP, B. Braun SE, MRK Healthcare Pvt. Ltd, Hartalega Holdings Berhad, RFB Latex Limited, Asma Rubber Products Pvt. Ltd, KANAM LATEX INDUSTRIES PVT LTD, Top Glove Corporation Bhd. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Nitrile Gloves Market Report Coverage

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

Global Nitrile Gloves can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Nitrile Gloves Market Analysis (2022-2032)

Analyzing the historical market, estimating the current market, and forecasting the future market of the global Nitrile Gloves market were the three major steps undertaken to create and analyze the adoption of Nitrile Gloves in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Nitrile Gloves market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

A detailed secondary study was conducted to obtain the historical market size of the Nitrile Gloves market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of Nitrile Gloves, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as type, product, end-user, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Nitrile Gloves market. Further, we conducted factor analysis using dependent and independent variables such as type, product, end-user, and Nitrile Gloves regions. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Nitrile Gloves market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the global Nitrile Gloves market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of Nitrile Gloves across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global Nitrile Gloves in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Nitrile Gloves. Data was split into several segments and sub-segments after studying various parameters and trends in the type, product, end-users, and regions of the global Nitrile Gloves market.

The main objective of the Global Nitrile Gloves Market Study

The current & future market trends of global Nitrile Gloves were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the Nitrile Gloves market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
• Segments in the study include areas of type, product, end-users, and regions.
• Define and analyze the regulatory framework for the Nitrile Gloves
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the Nitrile Gloves market for the major regions.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World
• Company profiles of the Nitrile Gloves market and the growth strategies adopted by the market players to sustain in the fast-growing market.
• Deep dive regional level analysis of the industry

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