Nitrile Rubber Latex Market Value Will Double In 5 Years
- Mar 28, 2019-
The nitrile rubber (NBR) latex Market will grow from more than $1.1 billion today to more than $2.4 billion by 2025, according to a research report released by Global Market Insights.Increased global demand for industrial gloves will drive the nitrile rubber latex market.
Industrial gloves are personal protective equipment that ensures worker safety in medical, food and automotive maintenance workplaces.This will drive demand for products in the coming years as workers in the end-user industry globally become more aware of safety.In addition, the use of products in clean room gloves is increasing rapidly due to the expansion of the global healthcare industry.Compared with its alternative, high product cost may limit the growth of nitrile latex market to some extent in the next few years.
Naphtha is the basic raw material of NBR latex, and the main source is crude oil. The increasing crude oil price will directly affect the nitrile latex price in the next few years.The demand for nitrile latex for industrial gloves is expected to grow at a high compound annual growth rate.