Nitrile Butadiene Rubber (NBR) Latex Market to exceed $4 billion by 2027
Published Date: August 11, 2021 Authors: Kiran Pulidindi, Akshay Prakash
According to a new research report by Global Market Insights Inc., the Nitrile Butadiene Rubber Latex Market is estimated to surpass USD 4 billion by 2027.
NBR is synthesized through the emulsion polymerization process and is available in the form of latex. It is more desirable to directly hydrogenate NBR in latex form. It provides added advantages in minimizing the negative environmental impacts as well as huge reduction in production costs. However, the complexity of the polymer latex system (the existence of many additives such as chain transfer agent and anti-oxidant) and the requirement from industry for four high levels of hydrogenation make NBR latex hydrogenation much more difficult.
Growing population and advancement in medical treatments are some of the major factors driving healthcare industry growth, in turn, positively influencing the nitrile butadiene rubber latex market. Gloves are an integral part of the healthcare industry and laboratories. They are evidently used in clean rooms in laboratories and research labs in the medical industry for hand protection. The healthcare industry requires medical gloves as a basic aid for examination and surgery to prevent the transmission of micro-organisms to and from patients.
Malaysia leads the global glove manufacturing market with a massive share of over 60%. India and China are some of the other countries attributing to the growing demand for NBR latex in the Asia Pacific region. The nitrile butadiene rubber latex market is an export-oriented market where most of the production units are from the Asia Pacific regions especially Malaysia and Thailand. Furthermore, the rising population will draw huge demands for new healthcare infrastructure across these countries, which are likely to fuel growth prospects over the forecast timeline. These factors will gradually favor viable growth opportunities for nitrile butadiene rubber latex industry in this region.
Gloves application segment will boost market demand
Glove was the largest application segment in 2020 and is projected to account for the major share throughout the assessment period. NBR latex gloves are widely used across industrial as well as healthcare industries. These gloves offer excellent properties, such as chemical, oil, and heat resistance, among others; hence, are widely used across industrial verticals.
Other application segment shall expand with a significant CAGR of 6% through 2027 driven by the increasing NBR latex acceptance in various industries, which earlier used natural rubber latex but now are gradually shifting to nitrile butadiene rubber latex market, due to the non-allergic advantage offered by the product as compared to natural rubber and vinyl latex. Other applications include paper finishing, fabric polishing, and gasket polishing.
Browse key industry insights spread across 250 pages with 444 market data tables & 22 figures & charts from the report, “Nitrile Butadiene Rubber (NBR) Latex Market Size By Application (Gloves [Medical, Industrial]), By End-user (Industrial, Healthcare & Clean Room, Food, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
The food segment to hold significant share
Based on end user, nitrile butadiene rubber latex market is segmented into healthcare & clean room, industrial, and food industries. The food end-user industry segment is poised to witness 9% CAGR during the forecast timeframe. Food authorities and food processing companies made glove usage while operations in past few years. This helps in maintaining hygiene and preventing any kind of contamination from the worker to food. Workers in the packaging part of food processing are subjected to food regulations in terms of handling and packaging. Furthermore, the glove usage preserves the integrity of packaging by preventing fingerprints. Nitrile butadiene rubber latex gloves are allergy free and non-powdered; hence, do not cause irritation and allergy to workers while usage.
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