The New Crown Pneumonia Epidemic Greatly Promotes The Growth Of The Global Nitrile Latex Market May Increase To 2.5 Billion US Dollars In 2027

- Jan 07, 2021-

In 2020, the new crown pneumonia sweeps the world. With the outbreak and continuous spread of the epidemic in various countries and regions around the world, the demand for protective products such as nitrile gloves for daily protection, medical and health, etc. has surged. Nitrile latex is the main raw material for making nitrile gloves. In 2019, the global nitrile rubber (NBR) latex market reached US$1.39 billion; it is expected to grow at a compound annual growth rate of 7.6% from 2020 to 2027, and it will reach US$2.5 billion by 2027.

Nitrile latex has excellent oil resistance and tensile strength, and is mainly used in the production of rubber gloves; in addition, nitrile latex brake pads, train brake shoes and other friction materials and gasket industries. Gloves are divided into two categories: nitrile latex for disposable gloves and nitrile latex for labor protection gloves. Among them, the latex for labor protection gloves has the characteristics of acid and alkali resistance, oil resistance, abrasion resistance, long service life, and reusability. The end application industry Wide range; latex for disposable gloves is mainly used in medical, precision electronics and other industries.

The new crown virus epidemic has greatly increased global healthcare expenditures, and people's demand for protective and medical gloves is rising rapidly, especially for personal protective gloves, which will stimulate the demand for nitrile latex for a long time. During the epidemic, the use of gloves in hospitals increased by 2-3 times, and the use of a single nurse was 3-4 times the previous amount.

In the field of disposable rubber gloves, 296 billion pieces were produced in 2019, of which 180 billion pieces in Malaysia only accounted for 63% of the market.

In 2019, the global production capacity of nitrile latex was 1.58 million tons, 90% of which was used to produce nitrile gloves. The production of 125,000 nitrile gloves per ton corresponds to about 180 billion gloves, which corresponds exactly to the consumption of 188 billion in the global market. The global production capacity of nitrile latex after the 2020 epidemic to the end of the year is about 2 million tons, corresponding to 250 billion nitrile products. According to the expansion of production of 17 nitrile latex plants in China by about 2 million tons in 2021, Malaysia and other places are also expanding production. It is estimated that the global production capacity of 4 million tons by the end of the year can meet the production of about 500 billion nitrile gloves.

As the penetration rate of the industry continues to increase, especially in emerging countries that provide greater opportunities for nitrile latex companies, the global nitrile latex market will continue to increase. The increasing application of gloves in the paper, chemical and food industries will also further expand the market growth of nitrile latex in the next few years.