Nitrile Butadiene Rubber Latex Market to grow at CAGR 10.6%, market value to reach USD 3 billion by 2028
Acumen Research and Consulting
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Nitrile Butadiene Rubber (NBR) Latex Market size will surpass valuation of USD 3014 million at a CAGR of 10.6%, as per research conducted by Acumen Research and Consulting.?
What is Nitrile Butadiene Rubber Latex?
A type of synthetic latex, a part of the unsaturated acrylonitrile and butadiene co polymers. It is liquidy and milky in color. It has a good tensile strength and excellent resistance to many oils, minerals, gasoline, alkaline and some acids. It has wide range of uses like in industries or medical field, the refinery industry, making oil hoses and seals.?
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Dynamics of Nitrile Butadiene Rubber Market
The healthcare industry is growing by the day as a result of impelling investments in the health sector, combined with rising need for gloves in the manufacturing industry, will drive the Nitrile Butadiene Rubber market during the assessment period. ?
Nitrile butadiene rubber gloves are in high demand, being used in surgeries and examinations for protection. The Food industry also has a huge demand for these gloves to handle the food safely. Protecting the employees from touching dangerous chemicals and materials is also a factor. The industrial grade latex gloves hold the highest market share.?
Health sector includes pharmaceutical, medical devices and equipment, and accessories industries, each with its own set of characteristics. Technological developments, tailored pharmaceuticals, obesity, and diabetes epidemics will push the global healthcare industry in the next years. This will have a beneficial impact on the nitrile butadiene rubber latex market over the assessment period.?
COVID-19 effects on the Nitrile Butadiene Rubber Market
Covid-19 pandemic also significantly increased the demand for these gloves within the last 2-year timeframe. Rapid industrialization of developing countries is also a driving factor of the Nitrile Butadiene Rubber Latex Market.?
Nitrile Butadiene Rubber Latex Regional overview
Asia Pacific holds the highest market share given the robust manufacturing sector in China, India, Malaysia, Vietnam, Bangladesh, Indonesia etc. Malaysia manufactures a large amount of these latex products with many MNCs having their bases in the country.?
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North America and Europe also are also some of the major markets for the NBR latex products, having a rough share of about 5%.?
Nitrile Butadiene Rubber Latex top market players?
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Global medical gloves market accounted USD 6.3 billion in the year 2020 and will grow at a considerable CAGR of 12.5% for the forecast period of 2021 to 2028.?
Global hydrogenated nitrile butadiene rubber market is all set to grow at CAGR of 7.5 % for the analysis period to reach USD 10.5 billion by the year 2026.?
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