Nitrile Butadiene Rubber (NBR) Latex Market Analysis

Nitrile Butadiene Rubber Latex Market Analysis

With respect to end-user, nitrile butadiene rubber latex market is divided into industrial, food, and healthcare & clean room. The healthcare & clean room end-user segment is foreseen to depict more than 10% CAGR over the next 10 years. This segment is poised to show a substantial growth rate owing to soaring demand for gloves, including both sterile and non-sterile gloves, in clean rooms and laboratories. The mounting need for contamination and infection-free zones is speculated to facilitate the healthcare & clean room segment expansion.
 

In terms of application, nitrile butadiene rubber latex market is segregated into gloves and others. The gloves application segment valuation is primed to reach around USD 6.5 billion by 2032. The segment growth is attributable to mounting awareness regarding the use of gloves for hand protection. The COVID-19 pandemic has boosted the utilization of gloves in various end-use industries, which is poised to impel segment progress. The gloves segment is further divided into medical and industrial.
 

Medical gloves segment is slated to be worth USD 5 billion by 2032. The mounting demand for gloves in the healthcare sector for both examination and surgery procedures to maintain the safety of patients and professionals is anticipated to drive the demand for NBR latex for the manufacturing of medical gloves. Additionally, the expansion of healthcare facilities, diagnostic centers, and so on is further amplifying the need for medical gloves, which is speculated to bolster segment revenues.
 

Nitrile butadiene rubber latex market in the Asia Pacific region is foreseen to depict more than 10.5% CAGR between 2023 and 2032. APAC industry is growing significantly as a result of the abundant availability of natural rubber and nitrile rubber, thereby emerging as a prominent region for manufacturing gloves, which is likely to supplement business share.