June 11, 2020
According to the research report titled ‘Nitrile Butadiene Rubber (NBR) Latex Market Size by Application By End-user Industry, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, the global nitrile butadiene rubber (NBR) latex market is expected to record considerable growth during 2020-2026.
The spike in usage of the product in industrial, medical and food sector along with the technological advancements in consort with the outbreak of COVID-19 pandemic are projected to have a positive impact on the NBR latex market.
For the record, NBR or Nitrile is a type of synthetic rubber polymer made up of an amalgamation of acrylonitrile and butadiene molecules and is used across a plethora of applications. Butadiene present in nitrile gloves makes them flexible and tear resistant, while the acrylonitrile improves its chemical resistance.
Nitrile butadiene rubber latex is a synthetic latex having a milky texture and a liquid form along with an excellent tensile strength and resistance for oil, which is used for immersing rubber for medical and laboratory gloves. According to the FDA, the gloves should be used for a single task at a time, either to work with ready to eat food or raw animal food, but not both and must be discarded once damaged or stained.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/1241497/
Based on the application spectrum, NBR latex market is divided into gloves and others. The others application segment consists of gaskets and fabrics, emulsion binder in adhesives formulation, etc. The others application segment held 1% of the market share in 2019 with respect to volume and is likely to record a CAGR of 5% over the anticipated timeline, cites the study.
Speaking of end-user, global nitrile butadiene rubber latex market is classified into industrial, food, and healthcare. In 2019, the industrial end-user segment held 20% of the market share and is estimated to record consistent growth in the coming years. The food end user segment held 6% market share in 2019 and is expected to witness a CAGR of 9% during the period of 2020-2026.
Considering the geographical landscape, in 2019, Europe NBR latex market held 3.5% fraction of the global market whereas Latin America held 1.5% and is projected to exhibit a growth rate of 3.1% in the coming years. The UAE and Saudi Arabia governments are venturing into healthcare infrastructure and medical tourism, stimulating the demand of gloves, which is further favoring the industry growth in MEA region.
The leading organizations in global NBR latex market are Shin Foong Speciality and Applied Materials Company Limited, Bangkok Synthetics Company Limited, Emerald Performance Materials LLC, Apcotex Industries Limited, Nantex, Synthomer, Kumho Petrochemical, OMNOVA Solutions, Zeon Chemicals, Jubilant Bhartia Group, Precision Dippings Manufacturing Limited, and LG Chem among others.