Nitrile Butadiene Rubber (NBR) Latex Market to hit $7 Billion by 2032, Says Global Market Insights inc.

Selbyville (Delaware), Dec. 19, 2022 (GLOBE NEWSWIRE). The global Nitrile Butadiene Rubber Latex Market was valued at USD 2.5 billion in 2022. It is projected to reach $7 billion by 2032. This valuation will be surpassed by a report by Global Market Insights Inc. and progress at a CAGR 10.3% between 2023 and 2032. The main drivers of NBR (nitrile butadiene rubber) industry trends are increasing concerns about worker safety, and rising food and beverage intake. Further, the report cites a high demand for nitrile gloves across industrial end-uses. This includes the chemical and construction industries. The market for nitrile butadiene rubber latex in the industrial end-user sector is expected to grow at a more than 10% CAGR between 2023 and 2032. NBR latex will continue to be used in many industries such as automotive, oil and gas, food & beverages, cleanroom, chemical & petroleum, pharmaceutical, and cleanroom. The Europe nitrile-butadiene rubber latex market will grow at a more than 7% CAGR in the next 10 years. Due to the growth of the food and beverage sector, the region could emerge as a major hub in this industry. The region's market growth will also be aided by the substantial increase in medical tourism investment due to increasing migration. The nitrile butadiene latex market will see a number of strategic acquisitions and partnerships from industry players. Synthomer plc, an American chemicals company, bought Eastman Chemical's adhesives business in April 2022. The acquisition was made to expand the company's product range and increase its market share. Global Market Insights Inc. is an American market research and consulting company based in Delaware. They offer custom and syndicated research reports as well as growth consulting services. Our industry research reports and business intelligence provide clients with actionable market data and insights that are specifically designed to assist strategic decision-making. These comprehensive reports are based on a proprietary research method and can be accessed for key industries like chemicals, advanced materials technology, renewable energy, biotechnology, and others.