Nitrile rubber has excellent oil resistance, heat resistance, water resistance, and chemical stability. It is an ideal raw material for manufacturing gloves in the industrial and medical care fields. Affected by the new coronary pneumonia epidemic, the global demand for rubber gloves has surged. Disposable rubber gloves have become the most basic daily protective tools, which will inevitably promote the growth of the nitrile rubber latex market. The authoritative forecast shows that the compound annual growth from 2020 to 2026 The rate is 7.7%. By 2026, the market value of nitrile latex may increase from US$1.32 billion in 2019 to US$2.5 billion.
With outstanding performance characteristics, nitrile latex has become the main raw material for protective equipment, especially gloves for industrial and healthcare fields. As people's awareness of labor safety continues to increase, the penetration of protective equipment industry continues to increase, promoting the growth of the nitrile latex market; increasing the use of gloves in the chemical industry, paper industry, and food industry will also promote the market share of nitrile rubber latex increase.
In 2020, New Coronary Pneumonia sweeps the world, healthcare expenditures increase, and the demand for NBR latex gloves grows rapidly. 2020 will surely cause a surge in demand for nitrile rubber latex market; meanwhile, the demand for NBR latex in industrial and food end-user industries will remain low It is expected that the healthcare industry will present unprecedented high demand during the same period.
The demand for nitrile latex in the Asia-Pacific region is growing steadily. In 2020, with the continuous expansion of the production capacity of rubber glove manufacturers and the growth of healthcare expenditures, it will definitely promote the nitrile rubber latex market. Among them, Malaysia, Thailand and China will become the main consumption regions of nitrile rubber latex. In the Middle East and Latin America, due to the limited number of nitrile rubber latex producers, injection pressure depends on imports, or slow growth. Among them, the compound annual growth rate of the Middle East NBR latex business will be slightly Above 3%.