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Nitrile Gloves Market 2024 Production Analysis, Latest Trends, Industry Share And Forecast To 2033
Nitrile Gloves Market
Nitrile Gloves Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $37.02 billion In 2028 At A CAGR Of 11.7% :
The nitrile gloves market size has grown strongly in recent years. It will grow from $15.18 billion in 2023 to $16.68 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to healthcare advancements, rise in healthcare expenditure, occupational safety regulations, increased in pandemic preparedness, globalization of supply chains.
The nitrile gloves market size is expected to see rapid growth in the next few years. It will grow to $24.85 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to consumer and industry education, geopolitical and economic factors, environmentally friendly solutions, expansion into new industries, cost efficiency and affordability. Major trends in the forecast period include healthcare industry demand, pandemic-driven demand, preference for nitrile over latex, regulatory standards evolution, hygiene emphasis post-pandemic.
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Nitrile Gloves Market Major Segments
The 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
Key Driver - Rising Healthcare Expenditure Fuels Growth In The Nitrile Gloves Market
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. For instance, in November 2023, according to the CIHI, a Canada-based independent, not-for-profit organization, 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. Therefore, the rising healthcare expenditure is driving the nitrile gloves market.
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Prominent Trend - Product Innovations Drive Growth In Nitrile Gloves Market
Product innovations are a key trend gaining popularity in the nitrile gloves market. Major companies operating in the nitrile gloves market are focused on developing new technological solutions to strengthen their position. For instance, in March 2022, Kimtech, a Georgia-based provider of contamination control solutions and safety products for industries launched a new prizm multi-layered neoprene nitrile glove. The gloves are crafted to protect from a wide range of chemicals and they offer ultra fingertip grip even when wet. The wearer can visually identify mechanical breaches as it comes in the dark violet and dark magenta design and they also reduce the risk of an allergic reaction, as they are made with an accelerator-free donning layer.
Nitrile Gloves Market Players
Major companies operating in the nitrile gloves market report are Top Glove Corporation Berhad, Ansell Limited, Hartalega Holdings Berhad, Adenna LLC, Unigloves Limited, Kossan Rubber Industries Berhad, MCR Safety, Ammex Corporation, Dynarex Corporation, Rubber*ex 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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Largest And Fastest Growing Region In The Market
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Nitrile Gloves Market Report Structure
3. Nitrile Gloves Market Trends And Strategies
4. Nitrile Gloves Market - Macro Economic Scenario
5. Nitrile Gloves Market Size And Growth
…..
27. Nitrile Gloves Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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