 Latex Market.webp)
Nitrile Butadiene Rubber Latex Market size is poised to reach USD 10 Billion by the end of 2036, growing at a CAGR of 11% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of nitrile butadiene rubber latex was USD 3 Billion. The reason behind the growth is due to the rising spending in the medical sector. NBR latex is a synthetic material with a milky color that is used extensively in the medical and pharmaceutical industries for both surgical and examination purposes as it is stronger and more resilient and is typically more skin-friendly. According to the OECD Health Statistics 2023, preliminary estimates for a group of 20 countries indicate that health spending increased by almost 6% on average in 2021.
The growing awareness regarding the safety of employees in the workplace is also believed to fuel NBR latex market growth. The market for industrial protective gloves will expand as a result of increased awareness of workplace safety as organizations are focusing more on training efforts that educate employees about the importance of wearing protective gloves and other safety procedures that can boost their confidence and protect them from potentially harmful job conditions.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~11% |
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Base Year Market Size (2023) |
~ USD 3 Billion |
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Forecast Year Market Size (2036) |
~ USD 10 Billion |
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Regional Scope |
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End-User (Automotive & Transportation, Building & Construction, Industrial, Medical, Food & Beverage)
The medical segment is estimated to hold 35% share of the global nitrile butadiene rubber latex market in the coming years owing to the increasing number of surgical procedures. Over the previous five years, there has been a steady increase in the number of persons undergoing surgical treatments to save their lives and manage a variety of medical disorders, including infections, cancer, heart disease, obstructed labor, and traumas.
Moreover, owing to the increasing number of surgeries, there is a need for surgical gloves that serve as a barrier to protect patients and healthcare staff from potentially contracting diseases while the patient is undergoing surgery and that can also shield the wearer against damage brought on by harmful substances or medications. All these factors are expected to significantly drive the demand for nitrile butadiene rubber latex which is frequently used in surgical gloves as they possess enough flexibility and adequate tensile strength, making them perfect for doctors who are allergic to latex as they are also powder-and odor-free.
For instance, the anticipated yearly number of procedures required to fulfill the surgical needs of the Indian population was more than 3640, while the global estimate was over 4,000 surgeries per 100,000 individuals.
Additionally, the food & beverage segment in the nitrile butadiene rubber latex market is anticipated to gain a notable revenue share during the forecast timeframe. The food processing sector is changing dramatically, which has raised the need for FDA-approved NBR latex as food and dairy items can be suctioned and discharged with the durability of nitrile rubber which is also present in the majority of food packaging machines, including gable-top packing units.
Application (O-rings & Seals, Hoses, Belts & Cables, Molded & Extruded Products, Adhesives & Sealants, Gloves (Industrial, Medical), Cotton)
Nitrile butadiene rubber latex market from the gloves segment is set to garner a notable share shortly. Industrial safety gloves offer vital hand protection against chemicals, mechanical dangers, and hazards for workers in a variety of industries as they are essential for assuring top efficiency, security, and comfort and are the greatest when it comes to protecting against heat, sparks, and harsh materials as well as cushioning impacts during heavy-duty work tasks, especially in jobs including manufacturing, petrochemical, and oil refining where workers may be exposed to potentially caustic materials.
Our in-depth analysis of the global nitrile butadiene rubber latex market includes the following segments:
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Type |
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End-User |
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Application |
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APAC Market Forecast
Nitrile butadiene rubber latex market in Asia Pacific is predicted to account for the largest share of 51% by 2036 propelled by the rapid urbanization. Modern cities are the result of fast industrialization as the most important demographic shift of the modern era is the migration of people from rural to urban areas. This is expected to increase the demand for nitrile butadiene rubber latex in the region as it can be utilized in industrialized production to offer exceptional performance and environmental friendliness. According to estimates, in India, more than 460 million people live in urban areas and the figure is increasing annually by over 2%.
North American Market Statistics
The North America nitrile butadiene rubber latex market is estimated to be the second largest, during the forecast period led by the presence of well-established healthcare infrastructure. The United States (US) has one of the most intricate healthcare systems globally which is primarily supplied by private sector healthcare facilities. As a result, the demand for NBR latex may rise in the region as they cater to a broad spectrum of healthcare applications.
 Latex Market Size.webp)
Author Credits: Smruti Ranjan, Rajrani Baghel
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