The Nitrile Gloves Market projected to surpass $11.2 billion by 2027, Says Global Market Insights Inc. | News
SELBYVILLE, Del., May 12, 2021 /PRNewswire/ — Based on Global Market Insights Inc. report, the global Nitrile
SELBYVILLE, Del., May 12, 2021 /PRNewswire/ — Based on Global Market Insights Inc. report, the global Nitrile Gloves Market was estimated at $4.2 billion in 2020 and is slated to exceed $11.2 billion by 2027, registering a CAGR of 13.1% from 2021 to 2027. The report provides a thorough analysis of the main investment avenues, major winning strategies, drivers and opportunities, wavering industry trends, market estimations as well as size, competitive scenarios.
Medical grade nitrile gloves market is anticipated to grow over USD 8,55 billion by the end of 2027. Nitrile gloves have excellent puncture resistance and offer protection against pathogens, resulting in massive demand for medical grade products. These gloves are used by healthcare professionals to examine patients and during operating patients. Medical professionals including dentist, nurses, lab techs, surgeons, doctors, and pharmacist use disposable gloves to keep patients and themselves free from contamination and other hospital-acquired infections when in direct contact with patients which should stimulate product demand.
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The pharmaceutical industry is anticipated to grow over USD 320 million by 2027 with a 13.5%. CAGR by the end of 2027. The growing pharmaceutical industry and stringent government regulations to comply with safety standards of drugs should increase product demand from pharmaceutical industries. Moreover, the sudden rise in demand for nitrile glove in medical & healthcare industry due to COVID-19 is projected to boost the nitrile gloves market growth.
Smooth textured nitrile gloves are projected to gain traction with the CAGR of 12.5 % during the projected timeframe owing to increasing their usage in the food industry in order to protect food from any contamination.
Powder-free gloves are anticipated to grow over USD 8,400 million by the end of 2027, as it is skin-friendly and can be worn for a longer time period without any risk from allergy. Moreover, the nitrile gloves used for patient surgery and examination are specialized to provide protection against diseases and human body fluids. The medical grade nitrile gloves are tear resistant and durable which enhances their application even on sharp instrument and objects. They provide resistance and high barrier protection against chemicals and have longer shelf life which is anticipated to foster nitrile gloves market share.
Europe nitrile gloves market is expected to witness considerable growth over USD 4.3 billion by the end of 2027 owing to rapid growth in industrialization and booming automotive industry in the region. Nitrile glove is commonly used in various automaking procedures which includes car assembling, mechanic work and general automotive maintenance. As a result, it has witnessed massive demand from automotive industry to safeguard workers from hazardous solvents and chemicals.
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Rising demand for personal protective equipment from European automotive manufacturers is expected to stimulate market growth. Furthermore, to reduce accident cases at workplace the European government is mandating several precautionary measures in benefit of the workers which should boost the nitrile gloves market sales.
Moreover, rising stringent government regulation for the employees to adhere to the guidelines should fuel product demand in the region and supporting the nitrile gloves industry growth. For instance, The European Agency for Safety & Health at work direct regulation for personal protective equipment with the basic health and safety requirements in order to avoid any misshaping at workplace.
Some of the major market players operating in the nitrile gloves industry are VWR , Top Glove Corporation Bhd, KINGFA SCI. & TECH. COMPANY LIMITED, Hartalega Holdings Berhad, Kossan Rubber Industries Bhd, Supermax Corporation Berhad, Medline Industries, Inc., YTY Group, Semperit Investments Asia Pte Ltd.
About Global Market Insights Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
GMIPulse, our business analytics platform offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision makers.
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Nitrile Gloves Market Overview – 2027
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SOURCE Global Market Insights Inc.