PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1532373
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1532373
Global nitrile gloves market is estimated to be valued at USD 4.71 Bn in 2024 and is expected to reach USD 8.92 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.5% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 4.71 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 9.50% | 2031 Value Projection: | US$ 8.92 Bn |
Nitrile gloves are made using synthetic polymers and provide excellent chemical and puncture resistance as compared to natural rubber latex gloves. These are extensively used across various industries such as healthcare, automotive, manufacturing, construction and others due to their affordability and suitability for people with latex allergies. Technological advancements have led to the development of nitrile gloves with improved thickness, strength and durability to withstand demanding industrial applications involving chemicals and hazards. Stringent regulations regarding personal protection equipment along with growing awareness about health and safety can boost uptake of nitrile gloves.
Global nitrile gloves market growth is driven by increasing healthcare and medical spending, rapid industrialization and strict employee safety laws. Nitrile gloves are widely adopted in the healthcare sector due to their anti-allergen properties and provides effective protection against contaminated bodily fluids. Their high puncture and abrasion resistance makes them ideal for cleaning and surgical applications. There has been huge demand for nitrile gloves from automotive, oil & gas, construction, chemicals and food &beverage sectors due to stringent employee safety and product contamination prevention norms. However, pricing pressures due to low entry barriers for new manufacturers and availability of cheaper alternatives such as rubber and vinyl gloves can hamper the market growth. Moreover, fluctuations in raw material prices poses challenge for established players. The development of antimicrobial and chemical-resistant premium variants can expand the scope for nitrile gloves in new applications, thus, offering lucrative opportunities for key market players.
Detailed Segmentation-