Dublin, April 08, 2022 (GLOBE NEWSWIRE) -- The "Nitrile Gloves - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Nitrile Gloves Market to Reach $57.1 Billion by 2026
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.
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. 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.
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. 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. 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 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 N95 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. Key Topics Covered: I. METHODOLOGY
Impact of Covid-19 and a Looming Global Recession
2020: A Year of Disruption & Transformation
Global Nitrile Gloves Market Witnesses Exponential Demand amid COVID-19 Crisis
Industry Faces a Staggering Demand-Supply Gap
Factors Responsible for Unwavering Demand
Nitrile Gloves Shortage and Production Challenges in the US
Nitrile Gloves Enjoy Increasing Uptake on Expense of Powdered Latex Gloves
Synthetic Materials and Their Forte in a Nutshell
Powder Free Gloves Register Strong Growth
Healthcare Segment Witnesses Rapid Growth
Developing Countries Hotspots for Future Growth
Manufacturers Ramp Up Production Capacity to Meet Surging Demand for Nitrile Gloves
Hartalega's NGC Project: Capacity and Timelines
2. FOCUS ON SELECT PLAYERS (Total 190 Featured)
Nitrile Glove Frenzy & Skyrocketing Prices: A Lucrative Opportunity for Suppliers
Focus on Hand Hygiene to Curb Rising Incidence of Hospital Acquired Infections Propels Market Growth
Leading Nosocomial Infections in the US: Percentage Breakdown of Healthcare Cost from Leading Five Infections
Spectrum of Salient Drivers Augmenting Growth of Medical Nitrile Gloves Market
Rising Cases of Chronic Wounds
Prevalence of Chronic Wounds: Select Statistics
Increasing Number of Cosmetic & Plastic Surgeries
Rise in Number of Diagnostic Laboratories Spurs Demand for Medical Gloves
Vinyl Hybrid Gloves Gain Traction
Rise in Adoption of Textured Nitrile Gloves
Growth in the Food Processing Sector and Emphasis on Food Safety Augurs Well for Nitrile Gloves Market
Rising Importance of Hand Protection Supports Demand for Protective Gloves in the Industrial Sector
Untapped Potential in Asia as Measured by Lower Per Capita Glove Usage, Throws the Region into the Spotlight as the Focal Point for Future Growth in the Protective Gloves Market
Workplace Safety Requirements Spur Demand
Nitrile Gloves Find Broader Uptake in Automotive Industry
Industry Witnesses Increased Demand for Micro-Roughened Nitrile Gloves
Companies Explore the Recycling of Medical Gloves
Manufacturers Focus on Biodegradable Gloves and Other Innovations
Counterfeit Gloves Entering the Supply Chain Form a Major issue
For more information about this report visit https://www.researchandmarkets.com/r/jvzrfm
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