PUBLISHER: Grand View Research | PRODUCT CODE: 1375855
PUBLISHER: Grand View Research | PRODUCT CODE: 1375855
The U.S. nitrile gloves market size is anticipated to reach USD 2.6 billion by 2030, growing at a CAGR of 4.7% during the forecast period, according to a new report by Grand View Research, Inc.. The growth is expected to be driven by the growing healthcare expenditure, increased significance of workplace safety, and the rising awareness regarding healthcare-associated infections.
Companies have established safety guidelines and prioritized worker safety to reduce workplace hazards, thereby limiting the adverse impact on overall operational costs through arbitrated settlements or compensation. The healthcare sector is experiencing a surge in demand for nitrile gloves, primarily attributed to the growing incidence of infectious diseases and viral outbreaks. This rise in demand is further bolstered by a heightened awareness of the critical safety and health measures required during emergency response situations and patient care, all of which contribute to the increased adoption of nitrile gloves within the healthcare industry.
Urbanization reduces the availability of arable land for agriculture. This necessitates advancements in agrochemicals for growing resilient crops and promoting farm productivity. The handling of toxic chemicals and reagents in chemical & petrochemical industries is strictly monitored by health and safety agencies. Stringent regulatory policies regarding employee safety will likely fuel the demand for nitrile gloves over the forecast period.
High puncture resistance of nitrile gloves, compared to latex gloves, is anticipated to drive their demand in places with high exposure risk to environmental contaminants, and blood-borne pathogens. These gloves are alternatively known as medical-grade gloves, which have been tested to be effective in the aforementioned environments. Hence, nitrile gloves are widely used in hospitals, laboratories, and other healthcare facilities. The rising adoption of nitrile gloves in the healthcare sector, coupled with increasing healthcare expenditure in the industry, is expected to propel market growth in the coming years.
The competitive landscape of the U.S. nitrile glove market in 2022 was marked by the presence of key industry leaders with significant influence. These leaders, including Ansell; Hartalega; Top Glove Corporation Bhd; Kimberly-Clark Worldwide, Inc.; and Supermax Corporation held substantial market shares, reflecting their strong market positions. To meet the rising demand from diverse industries, corporations are pursuing business growth through strategies such as mergers and acquisitions, the establishment of new manufacturing facilities, and geographic expansion initiatives. For instance, in February 2022, SHOWA Group revealed its plans to expand its facility in Alabama, resulting in a boost to the annual production capacity of nitrile gloves to 2.8 billion units.