Top Companies in Nitrile Butadiene Rubber Latex Market by Size, Share, Historical and Future Data & CAGR | Report by Vantage Market Research Market
Nitrile Butadiene Rubber Latex Market is projected to reach USD 4.6Billion by 2028 at a CAGR of 4.80% over the forecast period.
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Market Overview:
The market for nitrile butadiene rubber latex will expand due to the growing demand for these products from the automobile industry. The main factors propelling market expansion include the growing public awareness of radiation protection and the rising safety concerns in healthcare.
Global Nitrile Butadiene Rubber Latex Market is valued at USD 3.5 Billion in 2021 and is projected to reach USD 4.6Billion by 2028 at a CAGR of 4.80% over the forecast period. The demand for nitrile butadiene rubber latex gloves and rising automotive applications are other reasons propelling the nitrile butadiene rubber latex market. Furthermore, the market will increase faster as infrastructure development spending rises. Additionally, the expansion of the nitrile butadiene rubber latex market would be significantly influenced by the increase in consumption from the aerospace industry. Nitrile butadiene rubber latex market expansion will be tempered by rising demand for bio-based feedstock and rising preference for these products in the petroleum industry due to their ability to resist oil. However, increasing end-user industries would open up favorable chances for the nitrile butadiene rubber latex market.
But fluctuations in raw material costs will slow the market's expansion for nitrile butadiene rubber latex. The easy availability of product replacements would also hamper nitrile butadiene rubber latex market expansion. Nitrile butadiene rubber (NBR) market development will be further slowed by the cultivation of natural rubber, limitations on using phthalates in NBR formulations, and other environmental controls on rubber manufacture.
Amidst Exponential Growth in Nitrile Butadiene Rubber LatexAdoption, What Trends Should We look forward to?
- The growing demand for NBR gloves, notably in the medical industry due to rising investment in the healthcare sector, is a key trend for the nitrile butadiene rubber latex market. Gloves are frequently worn to prevent the spread of pathogens within the patient's body during surgeries and inspections.
- In the upcoming years, the market value rise for nitrile butadiene rubber latex is anticipated to be accelerated by the rising need for disposable gloves in the food industry. Since these gloves are crucial while handling food because they accomplish two goals: first, they prevent the worker's hands from coming into direct touch with the food, protecting it from contamination.
- The automobile sector makes extensive use of nitrile butadiene rubber latex. It is utilized in tire sidewalls and treads because it ensures great performance through good abrasion and low rolling resistance. In addition to these advantages, nitrile butadiene rubber latex is an inexpensive substitute for natural rubber with superior qualities. Thus, the automotive industry has an impact on the market for nitrile butadiene rubber latex.
- The nitrile butadiene rubber latex market is driven by the rising concern for the safety of workers in hazardous environments in the chemical industries.
The nitrile butadiene rubber latex market is dominated by globally established players such as B. Braun Melsungen AG, Merck KGaA, Thermo Fisher Scientific, Inc., Baxter International, Inc., Intermountain Life Sciences, Cytiva (Danaher), Standard Reagents, Pvt. Ltd., FUJIFILM Irvine Scientific, CovaChem, LLC, Pfizer, Inc, and Fresenius Kabi AG. These companies have developed new products, adopted expansion strategies, and undertaken collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth nitrile butadiene rubber latex market.
Let's Look at the Top 5 Companies That are Taking the Nitrile Butadiene Rubber Latex Market by Storm
The nitrile butadiene rubber latex market is expected to grow from USD 3.5billion in 2021 to USD 4.6billion in 2028 because the vehicle industry has a growing demand for these products. The expanding public awareness of radiation protection and the rising safety concerns in healthcare are the key drivers of market expansion.
Braun Melsungen AG:
Braun, one of the top medical technology manufacturers, works to safeguard and enhance public health worldwide. With our innovative spirit and ground-breaking contributions to nitrile butadiene rubber latex gloves, we have shaped healthcare for more than 180 years.
Thermo Fisher ScientificInc.:
With annual sales of almost $40 billion, Thermo Fisher Scientific Inc., is the market leader in providing services to the scientific community. Its goal is empowering users to contribute to a better, cleaner, healthier planet. Through our market-leading brands, which include nitrile butadiene rubber latex, it offers an unmatched combination of cutting-edge technology, purchasing convenience, and pharmaceutical services.
Baxter International Inc.:
Baxter International is dedicated to assisting patients and healthcare professionals with breakthroughs like nitrile butadiene rubber latex products that are motivated by empathy for their experiences, a passion for improving care, and the aspiration to influence the future of healthcare.
Standard Reagents, Pvt. Ltd.:
Chemical manufacturing business Standard Reagents Pvt. Ltd. has its headquarters in Hyderabad, India. It offers a wide range of goods and services. Its in-house developments, like nitrile butadiene rubber latex products, allow it to create chemicals to the exact requirements of a customer's request while also fulfilling international standards.
Pfizer Inc:
A leading provider of life-saving pharmaceuticals, tools, and technologies for infusion, transfusion, and clinical nutrition is Fresenius Kabi. Its goods, such as nitrile butadiene rubber latex gloves, are used to assist in the treatment of seriously and persistently unwell patients.
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