The nitrile butadiene rubber (NBR) latex market is set grow significantly by 2027 owing to booming demand for protective gloves and medical equipment in view of the COVID-19 outbreak across the globe.

NBR latex refers to a synthetic latex that has a milky hue and a liquid form. It is utilized for dipping rubber in laboratory and medical gloves, among other applications, due to its superior tensile strength, oil resistance, and other properties.

Recently, increasing prevalence of chronic diseases and the ongoing COVID-19 pandemic have shifted the focus of governments around the world towards fostering technological advancement in the healthcare sector to strengthen the global medical infrastructure. As a result, the healthcare industry has amassed massive investments to facilitate extensive R&D for boosting product development and fortifying the supply chain network to cater to the escalating demand, which has been favorable for NBR latex market expansion in leading regions.

Notably, major industry players have been implementing various profitable strategies in order to enhance their market position, thereby positively impacting the global business landscape. For instance, in May 2021, Kumho Petrochemical, a South Korean chemicals company, completed the acquisition of Kumho Polychem, a high-performance synthetic rubber specialist. With the acquisition, Kumho Petrochemical intended to strengthen its portfolio in the synthetic rubber business.

Similarly, in July 2020, Eni-subsidiary Versalis announced that it had acquired a 40% share in Finproject Capital from VEI Capital. With the deal, Versalis entered the high-performance formulated polymer sector, which allowed it to broaden its portfolio to include businesses that are less vulnerable to the chemical industry's volatility.

To cite another instance, in July 2021, LG Chem announced the acquisition of LG Electronics separation membrane business, gaining all tangible and intangible assets owned by the latter, including its Cheongju Plant production facilities in Korea as well as its facilities across China and Europe. Consequently, prominent strategic initiatives have augmented the global business growth.

The NBR latex market has been categorized based on application, end-user, and region. In terms of application, the market has further been bifurcated into gloves and others.

The NBR latex market from the others application segment is expected to observe sizable growth, progressing at approximately 7% CAGR over the forecast period. Soaring product utilization for polishing fabrics and gaskets and as an emulsion binder in adhesive formulations, among others, is likely to fuel segmental growth in the coming years.

With respect to end-user, the NBR latex market has been divided into food, industrial, and healthcare. In 2020, the industrial end-user category was the second largest segment in the overall industry in terms of revenue and is projected to see steady growth over the analysis period.

From the regional point of view, Europe accounted for over 3.5% of the NBR latex market in 2020 and is set to expand considerably at a CAGR of about 5.9% through the assessment timeframe.