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North America Nitrile Butadiene Rubber (NBR) Latex Market Forecast 2027 by Application (Gloves [Medical, Industrial]), End-user (Industrial, Healthcare & Cleanroom, Food), Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
Published Date: May 2021 | Publisher: Graphical Research Report ID: GR1820 | Delivery : PDF  Request Free Sample

North America Nitrile Butadiene Rubber (NBR) Latex Market size surpassed USD 45 million in 2020 and is predicted to record a CAGR of around 8% between 2021 and 2027.

North America Market, By Application

NA NBR Latex Market

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During the forecast period, gloves segment will register a CAGR of 8%, in terms of market revenue. Gloves are an integral part of the healthcare industry. Gloves are used in clean rooms, laboratories, and research labs for hand protection. A rise in healthcare spending will drive consumption. Gloves are increasingly used in various end-user industries and by common people across the world. The emergence of the COVID-19 pandemic in 2020 has propelled the demand for medical gloves across the world. 

North America is a developed region with strong presence of key end user industries. Governments in this region strong regulatory bodies with stringent rules and regulations on the safety of labor and working individuals. These strict government policies are expected to drive the demand for industrial gloves in all end-use industries. The U.S. healthcare spending is the highest in the world, opening growth opportunities for the gloves market and ultimately for nitrile butadiene rubber latex. Advanced healthcare technologies coupled with rising per capita healthcare spending in North America will positively influence the medical accessories sector, thus driving gloves consumption and subsequently NBR latex demand.

Nitrile butadiene rubber latex is witnessing rising penetration in the end-user industries in recent times due to its versatility and great performance in adverse conditions compared to its alternatives. The high concentration of end-users in the region and high per capita healthcare spending will fuel the market growth.

North America Market, By Country

NA NBR Latex Market

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Healthcare & cleanroom will have the highest demand in the North America nitrile butadiene rubber latex market and will grow at 7.3% CAGR in terms of volume till 2027. The growing healthcare industry will propel NBR latex demand across the U.S. and Canada. Currently, viral outbreaks & pandemics have pushed the demand for disposable medical gloves in North American countries. Dynamics in the healthcare sector in major countries will primarily influence product demand.

North America Market, By Country

The U.S. nitrile butadiene rubber latex market held the largest revenue share of more than 75% in 2020. North America, mainly led by the U.S., accounted for major healthcare spending and consumption of healthcare products. For example, the U.S. had 16.9% GDP in 2016 and the country continues to spend considerably more on healthcare compared to other countries.

Competitive Industry Landscape

The North America nitrile butadiene rubber latex market is consolidated with the presence of international and regionally established players. The major manufacturers engaged in the market are LG Chem, Versalis S.p.A., Kumho Petrochemical, and Synthomer, among others.
 

Frequently Asked Question(FAQ) :

The market size for NBR latex in North America surpassed USD 45 million in 2020 and will expand at a CAGR of around 8% through 2027.
The gloves segment will expand at a CAGR of 8% through 2027 owing to rising demand from laboratories, healthcare facilities and research labs.
The healthcare & cleanroom segment will grow at a CAGR of 7.3% through 2027, in terms of volume; owing to rising demand for disposable medical gloves.
The industry size for nitrile butadiene rubber latex in U.S. accounted for more than 75% revenue share in 2020 and will grow with soaring healthcare expenditures.

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