Nitrile Butadiene Rubber Latex Market Trends 2021, Global Demand Analysis to 2026: GMI
Globally, it has been projected that the nitrile butadiene rubber latex market size will hit US$2.5 billion in annual revenues by 2026.
Delaware, United States – July 27, 2021 /MarketersMedia/ —
Primarily driven by the growing demand for synthetic rubber gloves in the industrial and medical sectors, the nitrile butadiene rubber latex market has emerged as one of the most enterprising verticals of the polymers and advanced materials segment over the years. Some of the key properties of NBR latex supporting its demand include superior tensile strength and oil resistance, making them extremely desirable in the healthcare sector.
NBR latex is manufactured using raw materials like sulphur, phenyl, zinc oxide, ammonia, potassium hydroxide, catalysts, and others. Prominent raw material manufacturers and suppliers in the industry include Toronto research Chemicals, American Elements, Linde Gas, and The Good Scent Company.
Developments in the healthcare industry
NBR latex gloves are widely used in healthcare facilities such as hospitals, laboratories, clinics, and others to ensure contamination-free medical procedures. The gloves are referred to as personal protective equipment making them an essential wearing gear for healthcare professionals when performing healthcare activities.
These gloves help keep the hands clean and reduce the chances of contracting germs that may lead to infections or any type of sickness. The healthcare workers are required to wear gloves each time they touch blood, bodily fluids, tissues, or broken skin which if touched without gloves may lead to contamination.
The healthcare sector across the globe has witnessed unprecedented growth due to the increase in chronic diseases like cardiovascular disorders, diabetes, cancer, liver, and kidney disorders, propelling the need to adopt advanced, reliable, and hygienic medical gear and solutions. According to reports, in the year 2019, people in Canada spent nearly CA$264 billion in total towards healthcare solutions.
Developments achieved by the NBR latex producers
With an aim to enhance the manufacturing process and to support improved product cycle rates, various NBR latex companies are focusing on expanding the production capacities at their facilities. Frequent research and development is being carried out in the field to ensure advanced product offerings as well as a greater geographical reach.
In July 2019, U.K. based chemicals company Synthomer announced the acquisition of American chemical entity Omnova Solutions with an aim to expand its footprint in North America. Moreover, the presence of Omnova’s manufacturing facility in China will further help the company extend its presence in the Chinese market.
Some of the prominent nitrile butadiene rubber latex market companies include Apcotex Industries, Synthomer, LG Chem, Zeon Chemicals, Emerald Performance Materials and Nantex, among several others.
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High rubber production in Asia Pacific
In terms of the regional expanse, Asia Pacific Nitrile butadiene rubber latex market has witnessed considerable gains over the years due to the high production of rubber in countries like Malaysia as well as the advancing healthcare sector due to the improvement in disposable income among people.
Moreover, the governments in countries like India, China, Thailand, and Singapore are working towards improving the healthcare facilities especially in the rural areas which have positively influenced nitrile butadiene rubber latex demand from the need for medical gloves and other products.
Need for workers safety in the industrial sector
Recognized regulatory authorities such as OSHA have made strict rules for the manufacturing and industrial firms to offer superior-quality safety equipment to the workers who are operating in hazardous conditions. Synthetic rubber gloves as a part of the personal protective gear have increasingly been recognized as an important component in the industrial sectors to safeguard the employees from any accidents or injuries.
NBR gloves are used across various end-user industries due to their chemical resistance, tear-resistance, and flexibility. The production of NBR latex is extremely capital intensive and the quality depends on the adopted manufacturing process. The capital-intensive nature of the industry restricts the entry of small-scale companies and this may control the development of the nitrile butadiene rubber latex market in the coming years.
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