Nitrile Butadiene Rubber (NBR) Latex Market Size Worth Over $2.5 billion by 2026
Published Date: May 4, 2020 Authors: Kiran Pulidindi, Hemant Pandey
According to a new research report by Global Market Insights Inc., the Nitrile Butadiene Rubber Latex Market size is forecast to exceed $2.5 billion by 2026. Propelling investment in the healthcare industry coupled with growing demand for gloves in the industrial sector will boost the NBR market demand during the assessment period.
The growing expenditure in the healthcare sector has in turn resulted in the increasing demand for protective equipment across the globe. This surge in the demand has positively impacted the NBR latex market especially in the Asia Pacific region. Malaysia, China, and Thailand are some of the major countries attributing to this growth.
Moreover, the growing concern over labor safety across the globe coupled with the implication of stringent safety regulations is anticipated to further augment the product demand.
NBR latex is replacing natural rubber latex in glove production application in recent times owing to its versatility and efficiency in performance in extreme conditions as compared to its other alternatives. Furthermore, some of the major industrial applications of NBR latex gloves include automotive, metalworking, iron, steel, component manufacturing, mining and chemical industries among others.
The quality of NBR latex hugely depends of the manufacturing process
Manufacturing plays a vital role in determine the quality of NBR latex, hence the proficient players in the nitrile butadiene rubber latex market own various patents and copyrights to safeguard their manufacturing process. For instance, market players such as LG Chem has patented NBR latex manufacturing method that prevents the degradation of latex quality caused by the foam.
The global NBR latex market is primarily driven by the healthcare industry. Healthcare segment will hold a market share of over 72% in 2026 and shall exhibit a CAGR of over 5% during the forecast period. The nitrile butadiene rubber latex market is also projected to see a sudden surge in demand in the year 2020 due to the on-going pandemic, which has resulted in the escalating demand for gloves.
However, the presence of numerous alternatives to NBR latex is anticipated to be a major downside to the market growth. Vinyl rubber is also an alternative to nitrile butadiene latex, which is used by some glove manufacturers for making household and gloves used in electronic industries.
Browse key industry insights spread across 261 pages with 444 market data tables & 26 figures & charts from the report, “Nitrile Butadiene Rubber (NBR) Latex Market Size by Application (Gloves [Medical, Industrial]), By End-user Industry (Industrial, Healthcare & Clean Room, Food), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Rising aging population, growing middle class income and industrial development will boost product sales
Among the various application segments, medical gloves held the largest share market in 2019. Medical gloves include surgical and examination gloves. The other application segment of the nitrile butadiene rubber latex market includes paper finishing, polishing of fabrics and gaskets, and emulsion binder in adhesives formulations among others.
NBR latex provides with excellent oil resistance & solvent resistance and mechanical properties such as tensile strength and flexibility. These properties make them highly desirable paper & fiber finishing applications. Moreover, nitrile butadiene latex is also used in lining pads in automobiles and various primers and adhesives.
Propelling industrialization especially in the developing economies is anticipated to positively affect the industrial gloves market through the review period, which will consequently augment nitrile butadiene rubber latex market share over the forecast timeframe. Some of the industrial application of NBR latex gloves include automotive, steel, metalworking, mining, iron and others.
Asia Pacific is the largest regional market in global nitrile butadiene rubber latex market throughput the review period and will account for over 90% of the global consumption in 2026. The region has various large-scale latex and glove producers. Low raw materials cost and labor rates in the region are major factors leading to low manufacturing prices for nitrile butadiene latex and hence medical as well as industrial gloves.
Market players in this region adopted various organic and inorganic strategies such as production capacity expansions to widen their geographical boundaries and attain a larger market share. Synthomer and Kumho are some of the major manufacturers in this region.
Some of the major players operating in the nitrile butadiene rubber latex industry include Jubilant Bhartia Group, Versalis S.p.A, Zeon Chemicals , LG Chem, Kumho Petrochemical, OMNOVA Solutions , Synthomer, Nantex, Apcotex Industries Limited and Emerald Performance Materials LLC among others.