Global Nitrile Gloves Market : Market Research By Knowledge Sourcing Intelligence
The global nitrile gloves market is projected to grow at a CAGR of 7.12% during the forecast period to cross a total market size of US$500 million by 2023. Growing incidences of latex allergy caused by latex gloves is the major driver of global nitrile gloves market. Even though the price of nitrile rubber is currently rising, there has minimal or no impact on the demand for nitrile gloves in the advanced economies such as the U.S. and Europe. However, developing and underdeveloped regions are still using both latex and nitrile gloves. Recent shut down of manufacturing facilities of vinyl gloves due to violation of environmental regulations has increased the market share of both type of rubber gloves- latex and nitrile. Thus, rising demand for latex gloves in developing and underdeveloped countries will have a low negative impact on the growth of global nitrile gloves market during the forecast period since developed economies hold the maj...