Global Nitrile Gloves market analysis 2024, Forecast To 2033
4 Mar, 2024
The nitrile gloves market has exhibited strong growth, expanding from$15.18 billion in 2023 to$16.68 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. This growth is attributed to healthcare advancements, increased healthcare expenditure, occupational safety regulations, and heightened pandemic preparedness alongside the globalization of supply chains. Projections anticipate rapid growth in the coming years, with the market expected to reach$24.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The surge in the forecast period is linked to consumer and industry education, geopolitical and economic factors, environmentally friendly solutions, expansion into new industries, and cost efficiency and affordability. Major trends in the forecast period include heightened demand from the healthcare industry, pandemic-driven demand, a preference for nitrile over latex, the evolution of regulatory standards, and increased hygiene emphasis post-pandemic.
Global Nitrile Gloves Market Key Driver
Rising healthcare expenditure is expected to propel the nitrile gloves market going forward. Healthcare expenditure refers to expenditure for family planning, nutrition activities, emergency health aid, and health services. Increasing healthcare expenditure will enable more spending on healthcare products and safety solutions, which will help in the growth of the market. Canada's total health spending is projected to reach $344 billion in 2023, equivalent to $8,740 per Canadian and constituting 12.1% of the country's gross domestic product (GDP). Anticipated to grow by 2.8% in 2023, this follows a modest 1.5% increase in 2022, according to the CIHI, a Canada-based independent, not-for-profit organization. Therefore, the rising healthcare expenditure is driving the nitrile gloves market. Market size projections for 2024 and 2028 indicate significant expansion in the nitrile gloves market.
Get A Free Sample Of The Global Nitrile Gloves Market ReportGlobal Nitrile Gloves Market Segments
The global nitrile gloves market covered in this report is segmented –
1) By Type: Powder-Free Nitrile Gloves, Powder-Coated Nitrile Gloves
2) By Texture: Smooth, Micro Roughened, Aggressively Textured
3) By Grade: Medical Grade, Industrial Grade, Food Grade
4) By End-Use: Healthcare, Food And Beverage, Automotive, Construction, Oil And Gas, Pharmaceutical, Chemical, Metal And Machinery, Cleanrooms, Other End Uses
By Geography: The regions covered in the nitrile gloves market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
North America was the largest region in the nitrile gloves market in 2023. The regions covered in the nitrile gloves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Nitrile Gloves Industry Players
Top Glove Corporation Berhad, Ansell Limited, Hartalega Holdings Berhad, Adenna LLC, Unigloves Limited, Kossan Rubber Industries Berhad, MCR Safety, Ammex Corporation, Dynarex Corporation, Rubberex Corporation (M) Berhad, YTY Group, Superior Gloves Works Ltd., Supermax Corporation Berhad, Nacosa USA Corp., Innovative Healthcare Corporation, Nitronix International Pte. Ltd., Renco Corporation, Safetouch PPE Inc., SAS Safety Corporation, HMD Healthcare Corp., The Glove Company LLC, American Nitrile, Kimberly-Clark Corporation, Semperit AG Holding, Showa Group, Globus Ltd., Riverstone Holdings Limited, Cardinal Health Inc., Medline Industries Inc., Halyard Health Inc.
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Nitrile Gloves Market Overview
Nitrile gloves refer to synthetic rubber that is formed with acrylonitrile and butadiene molecules combined and it is commonly used as a material for the disposable glove. These gloves are mainly used to handle chemicals in laboratories.
Nitrile Gloves Global Market Report 2023 provides data on the global nitrile gloves market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The nitrile gloves market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.