Press release
Nitrile Gloves Market: Flourishing with Skyrocketing CAGR of 11.7% and Firming Global Market Size of $27.58 Billion by 2029
Nitrile Gloves Market
Projected to grow from $16.25 billion in 2024 to $27.58 billion in 2029, the global nitrile gloves market is set to expand at a compelling CAGR of 11.7%.
What Is The Projected Market Size Of The Global Nitrile Gloves Market And Its Growth Rate?
- The nitrile gloves market escalated significantly in the recent past and will advance from $16.25 billion in 2024 to $17.72 billion in 2025 with a robust compound annual growth rate (CAGR) of 9.0%.
- This growth is attributable to leaps in healthcare efforts, elevation in healthcare expenditure, occupational safety regulations, surge in pandemic readiness, and globalization of supply chains.
- The market is poised for rapid growth in the coming years, shooting up to $27.58 billion in 2029 with an emphatic CAGR of 11.7%.
- The forecasted period growth is backed by increasing awareness in consumers and industries, geopolitical and economic factors, environment-friendly solutions, expansion into new industries, cost efficiency, and affordability.
What Is Driving The Growth In The Nitrile Gloves Market?
The surge in healthcare expenditure is a pivotal driver accelerating the nitrile gloves market. Spends on healthcare for critical areas including family planning, nutrition, emergency health aid, and health services are rising continually. Increased healthcare expenditure ensures more budget allocation for healthcare products and safety solutions, thereby fueling the growth of the market. For instance, in November 2023, independent, non-profit organization CIHI stated that Canada's total health spending is projected to reach $344 billion in 2023, which corresponds to $8,740 per Canadian and constitutes 12.1% of the country's GDP. Thus, the uphill trend in healthcare spending leads to the growth in the nitrile gloves market.
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Who Are the Key Players Driving Nitrile Gloves Market Growth?
- Top Glove Corporation Berhad
- Ansell Limited
- Hartalega Holdings Berhad
- Adenna LLC
- Unigloves Limited
- Kossan Rubber Industries Berhad
- MCR Safety
- Ammex Corporation
- Dynarex Corporation
- Rubbere*x 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.
What Are The Key Trends In The Nitrile Gloves Market?
- Steadily increasing demand in the healthcare industry
- Pandemic-induced demand
- Preference for nitrile over latex gloves
- Evolving regulatory standards
- Greater emphasis on hygiene post-pandemic
What Are The Segments Of The Global Nitrile Gloves Market?
- By Type: Powder-Free Nitrile Gloves, Powder-Coated Nitrile Gloves
- By Texture: Smooth, Micro Roughened, Aggressively Textured
- By Grade: Medical Grade, Industrial Grade, Food Grade
- By End-Use: Healthcare, Food And Beverage, Automotive, Construction, Oil And Gas, Pharmaceutical, Chemical, Metal And Machinery, Cleanrooms, Other End Uses
Which Region Leads The Nitrile Gloves Market?
In 2024, North America held the lion's share in the nitrile gloves market. Other regions analyzed in the nitrile gloves market report include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
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What Is Covered In The Nitrile Gloves Market Global Market Report?
- Market Size Analysis: Analyze the Nitrile Gloves Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Nitrile Gloves Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Nitrile Gloves Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Nitrile Gloves Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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