Nitrile Butadiene Rubber (NBR) Latex Market Size, Share and Industry Analysis Report by Application (Gloves [Medical, Industrial]) and End-user (Industrial, Healthcare & Clean Room, Food) Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027

Industry Overview

Nitrile butadiene rubber latex market size was valued at over USD 3.5 billion in 2020 and is estimated to exhibit 10.5% CAGR from 2021 to 2027. The industry is estimated to grow at a CAGR of 10.1% in terms of volume while attaining a valuation of 2.41 million Tons through the projected timeframe. Propelling investment in the healthcare industry coupled with growing demand for gloves in the industrial sector will boost the market demand during the assessment period.
 

The healthcare industry covers pharmaceutical, medical devices & equipment, and accessory sectors and each has different dynamics. Technological advancements, personalized medicines, obesity, and diabetes epidemics will drive the healthcare industry globally in the coming years. This will positively influence the nitrile butadiene rubber latex market throughout the assessment period.
 

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Industrialization across the globe, especially in Asia Pacific has led to the emergence of various industry-based economies. With various industries operating in Asia Pacific, OSHA has made it mandatory for companies to provide safety gears to workers while working in conditions where chemicals are involved. The gloves market has benefitted substantially in the past few years in Asia Pacific. Rubber gloves are widely used across industries for worker protection.
 

The major raw materials used in the manufacturing of NBR latex include Sulphur, nbr, phenyl, zinc oxide, ammonia, potassium laurate, potassium hydroxide acrylonitrile, and other catalysts and substances. NBR latex quality largely depends on manufacturer and manufacturing process. Very few and large-scale players are operating in the industry, and this can be attributed to the high capital requirement and need to comply with environment and government regulations.
 

NBR latex producing and distributing companies are venturing into new application areas, which ultimately aids in fueling product demand across its major end-user segments. Dynamics in the healthcare sector in major regions will be primarily influencing the NBR latex market over the forecast timeframe.
 

NBR latex is majorly used in the production of gloves. Gloves are used for medical as well as non-medical (industrial) purposes. NBR latex has increasingly replaced natural rubber in production application in recent times owing to its versatility and efficiency in performance in extreme conditions as compared to its other alternatives.
 

Medical Gloves will be the highest revenue-generating segment

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The medical gloves segment will generate around USD 3.5 billion by 2027 owing to the growing demand for gloves from the medical industry is projected to generate huge revenue gains to the overall segment throughout the forecast period. Medical gloves are widely used as general purpose as well as surgical gloves as a protection against contaminants. The growing healthcare industry expenditure coupled with increasing awareness toward contamination is anticipated to boost the nitrile butadiene rubber latex market growth.
 

The industrial segment is projected to witness around 10% CAGR over the forecast timeframe. Industrial gloves provide with protection against heat, harm by erosion, scraped area, chemicals, and others. Industrial gloves made from NBR latex are more reliable in terms of chemical, oil, and other chemical resistance and hence are widely used in the industrial vertical.
 

Healthcare & clean room will be the leading application throughout the assessment period

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Healthcare & clean room is the largest end-user industry and will generate a demand of over 1.5 million tons by 2027. Surgical and examination gloves are an intrinsic part of the healthcare industry. Gloves is an important application of the  industry, hence, the growing demand for gloves will ultimately boost NBR latex market during the forecast period.
 

The industrial segment is anticipated to grow at a CAGR of over 10% through 2027. Industrial end-users include metalworking, chemicals, mining, automotive, electronics, and other such industries. These gloves are used extensively for applications that require the use of alcohols, caustics, acids, chlorinated solvents, oils, greases, and others. They provide both sensitivity and dexterity of use and are highly durable. Nitrile latex gloves are used by cleaning and janitorial staff, line workers, assemblers and fabricators, cafeteria, and first aid.
 

Asia Pacific will be the leading market

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Asia Pacific held major share in 2020 and is anticipated to exhibit a CAGR of over 10.5% throughout the assessment period. Countries, such as China and Malaysia, account for more than 80 % of the market. Malaysia is one of the largest glove manufacturers across the globe and almost two third of the nitrile butadiene rubber latex market is used by the Malaysian companies to manufacture gloves. The region has presence of many multi-national NBR latex producers and glove manufacturers including Nantex and Synthomer.
 

North America and Europe are other major markets and will have a combined share of over 5% by 2027. The presence of huge medical infrastructure coupled with the huge industrial requirement is projected to generate substantial revenue throughout the forecast period. North America nitrile butadiene rubber latex market is projected to exhibit a CAGR of over 6% throughput the given period 2021-2027.  
 

Strategic mergers and acquisitions to increase industry rivalry

In March 2017, Synthomer, a leading specialty chemicals company, announced the entering of acquisition agreement with The Perstorp Group of Perstorp Belgium AB from, a specialty chemicals producer and supplier based in Sweden. This deal will provide Synthomer access to the new products and customers.
 

Some of the key players operating in nitrile butadiene rubber latex industry include LG Chem, Jubilant Bhartia Group, Versalis S.p.A., OMNOVA Solutions, Zeon Chemicals, Kumho Petrochemical, Nantex, Apcotex Industries Limited, and Emerald Performance Materials LLC, among others.
 

Nitrile butadiene rubber latex market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2017 to 2027, for the following segments:

By Application

• Gloves
  • Medical
  • Industrial
• Others
• Cotton

By End-user Type

• Industrial
• Healthcare
• Food

By Region:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Australia
  • Japan
  • South Korea
  • Indonesia
  • Vietnam
  • Thailand
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa