London, 7 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global nitrile gloves market 2015-2019, which is expected to grow at a CAGR of 8.02% during the forecast period of 2014-2019.
The recent increase in hygiene standards and healthcare awareness promotes growth in this market. A change in the consumers’ preference towards health consciousness has resulted in the increased use of disposable gloves to prevent contact from contagious diseases. Increasing incidence of latex allergies has resulted in the rapid adoption of nitrile gloves. Also, outbreaks of viruses and pandemics have led to the growth of the nitrile gloves market.
“Nitrile gloves are more puncture resistant than natural rubber gloves and have better properties such as flexibility and durability. Natural gloves are not as resistant to chemicals, when compared to nitrile gloves,” says Faisal Ghaus, Vice President of Technavio.
“Nitrile gloves provide better chemical and biohazard protection and have a better shelf life. Also, natural rubber is subject to cost fluctuations, which will affect the cost of the product.”
Key Market Drivers:
- Consumers Experiencing Latex Allergies.
- Increase in Hygiene Standards and Healthcare Awareness.
- Increased Use of Medical and Industrial Gloves.
- Increase in Global Healthcare Spending.
Key Market Trends:
- Transition from Natural Rubber Gloves to Nitrile Gloves.
- Aggressive Expansion Plans.
- Industry Consolidation.
Key Market Vendors:
- Hartalega Holdings Berhad
- Kossan Rubber Industries Berhad
- Supermax Corporation Berhad
- Synthomer PLC
- Top Glove Corporation Berhad
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
