The new report released by QY Research titled, “Global NB Latex Market Report, History and Forecast 2014-202”, studies about the key market trends, comprehensive analysis, historical analysis, and market forecast for the period of 2019-2025. The report also provides a detailed segment analysis, geographical analysis, and assesses the key players that are operating in the market.
According to the report, the global NB latex market will reach US$2310 mn by the end of 2025 from US$1660 mn in the year 2018. The market is expected to register moderate CAGR of 4.9% throughout the forecast period.
Global NB Latex Market: Drivers
The global NB latex market will witness significant growth in the coming years. One of the preliminary factors that drive the growth of the market is the increasing consumption of gloves across pharmaceutical and medical industries. NB latex is broadly used for the manufacturing of gloves, as it offers excellent strength and chemical resistance. Growing medical treatments and procedures due to rise of aging population are expected to drive the NB latex market. Acrylonitrile butadiene latex is also used as a binding component of non-woven paper or fabrics, and act as a raw material of acrylonitrile butadiene styrene (ABS) resins and pigment for glossy papers. All of these factors are expected to favor market growth during the forecast period.
Global NB Latex Market: Forecast by Segments
The global NB latex market is segmented on the basis of applications and product type. The application segment includes gaskets, gloves, fabrics, paper, and others. The gloves segment will be expected to lead the market as the healthcare industry flourishes. The product segment is segmented into high acrylonitrile type and middle acrylonitrile type.
Global NB Latex Market: Regional Analysis
Asia Pacific is expected to be the largest growing region in the global market for NB latex because of strong presence of glove and latex manufacturers in the region. Emerging economies such as China and India are likely to become a major suppliers of NB latex across the word. Europe and North America will gain a substantial market share over the forecast period due to the presence of fewer manufacturing companies of NB latex in the regions.
Global NB Latex Market: Top Players
Some of the leading players that are operating into the market are Jiuzhou Aohuo Chem&Indu, Kumho Petrochemical, Croslene Chemical, Synthomer, Shin Foong, Nantex, ZEON, LG Chem, and BST.
Global NB Latex Market: Competitive Landscape
Competitive landscape is mainly designed to know the strategy followed by the company. Companies are mainly adopting the strategies of business expansion, product development, and mergers and acquisitions to remain competitive in the market. For instance, Kumo Petrochemical held a significant market share in NB latex across the world. The company is focused on expanding its market share and enhancing production capacity that will help the company to remain significant in the market.
Full Report Overview@ https://www.qyresearch.com/index/detail/1076289/global-nb-latex-market