Nitrile Gloves Market Competition Landscape, Growth Opportunity, Driving Factors And Highlights Of The Market By 2023

SAN FRANCISCO, April 1, 2020 /PRNewswire/ -- The global nitrile gloves market is expected to display higher growth rate over the next five years. Rapid surge in this market is credited to the development of industrial and medical grade product, and rising number of online distribution channels. Increasing preference towards nitrile gloves over latex or vinyl gloves is expected drive the growth of nitrile gloves market over the forecast period. Globally, this market is predicted to generate massive revenue over the next five years, providing numerous opportunities for industry participants to invest in research and development of nitrile gloves. Common applications of nitrile gloves include exam gloves in lab testing. However, enhanced strength associated with nitrile gloves, has led to their multiple uses in different end-use industries. Nitrile gloves are formed from a synthetic rubber, which also resembles to latex. It is known to exhibit superior resistance to punctures in comparison with conventional products. Nitrile, which occurs in powdered, sterile and non-sterile form, offer several benefits over latex or vinyl products. Nitrile gloves come with variable lengths from wrist to forearm.

Applications of the nitrile gloves rage from basic exam room checks, to hazardous materials handling, such as chemotherapy chemicals. It is also identified as medical grade products. Additionally, higher approval rate and rising product penetration in newer markets are expected to favor market demand over the coming years. It is put through a series of tests conducted by the Food and Drug Administration (FDA) to assure product durability. The nitrile gloves market is broadly categorized into major segments based on the application type such as automotive industry, oil & gas industry, healthcare sector, food processing industry, building & construction industry, and chemical sector. Healthcare segment is growing rapidly in the nitrile gloves market with substantial revenue generation in the last few years.
The nitrile gloves market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in manufacturing sector, surge in number of research & development activities and existence of well-established industrial infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth. Asia-Pacific region is estimated to hold a major share in the nitrile gloves market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rapid industrialization, growing concerns regarding environmental impact of latex or vinyl based products, and significant investment by leading industry players considering potential growth opportunities in the region.

     Lin Yang(Ms.)

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