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NBR Latex Market to Register Exponential Growth from Medical industry over 2025

Author : Rahul Varpe | Published Date : 2019-04-05 

Medical industry held the largest share in NBR latex market in 2017 and it is expected to grow with highest CAGR in near future. The product is widely used to manufacture medical grade gloves, owing to its high abrasion, wear & tear resistance and durability. Industrial gloves demand is likely to grow with a significant CAGR during the forecast period.

This can be attributed to the increasing worker safety concerns in the end-use industries. Nitrile butadiene rubber latex is resistant to many chemicals, particularly petroleum-based products, making it an effective material for safeguarding workers when handling hazardous substances.

Asia Pacific registered highest product demand in 2017 and is likely to grow with prominent CAGR during the forecast period. This cab be attributed to the easy raw material availability in the region and increasing industrial bases. Moreover, cost competitive labor and lenient environment regulations and labor laws compared to the North America and Europe shall propel the nitrile butadiene rubber latex market over the forecast timeframe. Major multinational players are operating in Asia Pacific and many of them are forward integrated.

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NBR Latex Market is forecast to exceed USD 2.4 billion; according to a new research report. Increasing industrial gloves demand shall drive the global NBR latex market, over the forecast period. Industrial gloves are used as a personal protective equipment in various industries, such as healthcare, food and automotive to maintain the sanitary condition at workplace and ensure workers safety.

Awareness regarding workers safety is increasing globally among end-user industries, this shall propel the product demand in the coming years. Moreover, product usage in the clean room gloves is increasing rapidly. This can be attributed to the expanding healthcare industry across the globe.

Nitrile butadiene rubber latex demand for manufacturing industrial gloves is projected to grow with a high CAGR. Medical gloves market is likely to register the highest CAGR, owing to the growing healthcare and pharmaceutical industry across the globe. This trend is likely to continue, owing to increased investments from global pharma and healthcare companies operating across continents.

Nitrile Butadiene Rubber (NBR) Latex research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD thousand from 2014 to 2025, for the following segments:

NBR Latex Market, by application

  • Gloves
    • Medical
    • Industrial
  • Others

NBR latex market by end-user

  • Industrial
  • Healthcare & clean room
  • Food

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Many multinational and regional manufacturers are operating in NBR Latex Market, such as LG Chem, Precision Dippings Manufacturing Ltd, Zeon Chemicals, OMNOVA Solutions, Kumho Petrochemical, Synthomer, Nantex, Apcotex Industries Limited, Emerald Performance Materials LLC, Bangkok Synthetics Co., Ltd and Shin Foong Specialty and Applied Materials Co. Ltd.

Some players in the industry are involved in the merger and acquisition strategy, to increase their customer and product base. For instance, In September 2016, LG Chem announced its merging with the group's pharmaceutical subsidiary LG Life Sciences. The move was to bolster its bio-business as a future growth engine.

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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