Nitrile Butadiene Rubber (NBR) Latex Market - By Application (Gloves [Medical, Industrial]), By End-user (Industrial, Healthcare & Clean Room, Food), By Region & Global Forecast, 2023 – 2032

Nitrile Butadiene Rubber Latex Market Size

Nitrile Butadiene Rubber Latex Market size was valued at USD 2.5 billion in 2022. Driven by the expansion of food packaging business, the industry is estimated to progress at over 10% CAGR from 2023 to 2032.
 

Extensive application of NBR latex in the manufacturing of medical and food-grade gloves as a result of its unique properties is slated to foster nitrile butadiene rubber latex market outlook. The swelling demand for gloves due to the spread of the COVID-19 pandemic has presented lucrative growth opportunities for the industry landscape. Nitrile gloves are comparatively cost-effective and are easily supplied to different parts of the world, which is projected to impel product uptake in the coming years.
 

Moreover, continuous technological advancements, along with surging investments in the healthcare industry by private and government agencies, are also propelling product adoption. For instance, in August 2022, Kumho Petrochemical, a Korean chemical manufacturing company, announced a strategic investment of about €5.5 billion in its new and existing businesses, including nitrile butadiene rubber latex production, in order to maintain its leading global position.
 

Easy availability of natural rubber may restrain industry progression

The availability of natural rubber as an alternative is a major factor restraining nitrile butadiene rubber latex market growth. The abundance of natural rubber plants and trees in evergreen forests in different parts of the world is impeding the utilization of NBR latex to manufacture gloves and more. The time-consuming process of producing nitrile latex has posed a threat to product demand and instead encouraged the use of natural rubber. Nevertheless, the growing demand for oil- and diesel-resistant rubber is set to encourage market players to eventually overcome this issue.
 

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.
 

Nitrile Butadiene Rubber Latex Market Share

• LG Chem
• Jubilant Bhartia Group
• Precision Dippings Manufacturing Ltd
• Zeon ChemicalsKumho Petrochemical
• OMNOVA Solutions
• Synthomer
• Apcotex Industries Limited
• Nantex
• Emerald Performance Materials LLC

are some key nitrile butadiene rubber latex industry players. These firms primarily focus on strategic acquisitions, collaborations, and product developments to maintain their market position.
 

COVID-19 Impact

COVID-19 outbreak had a two-fold impact on nitrile butadiene rubber latex market trends due to the shifting industry requirements. Firstly, the automotive industry witnessed a decline in sales during the pandemic, which hampered the uptake of NBR latex materials. Secondly, the growth of the medical & healthcare sector due to the upsurge in severe cases of coronavirus encouraged the adoption of medical tools and materials made with nitrile butadiene rubber latex. Nevertheless, in the post-pandemic scenario, increased government efforts to promote the use of biodegradable materials for medical tools have been lucrative for industry expansion.
 

The nitrile butadiene rubber latex market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Tons and revenue in USD Thousand from 2018 to 2032 for the following segments:

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By Application

• Gloves
  • Medical
  • Industrial
• Others

By End-User

• Industrial
• Healthcare & Clean Room
• Food

By Region

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