Sellbyville, DE -- (SBWIRE) -- 10/18/2018 -- Asia Pacific will be the fastest growing region in global NBR latex market over the forecast duration. The region has presence of many multi-national latex producers and glove manufacturers, which reduces the overall cost of glove manufacturing and hence wide reach to companies requiring gloves.

Low-cost labor and raw materials are two prime factors which have led to low prices for nitrile butadiene rubber latex and eventually gloves in this region. Companies in Asia Pacific have adopted strategy of production capacity expansion to grad larger chunk of market share. Kumho and Synthomer are top two companies producing NBR latex in the region.

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Nitrile Butadiene Rubber Latex Market size is forecast to exceed USD 2.4 billion by 2025. With increase in capital expenditure by private companies and governments in healthcare infrastructure, it is likely to boost the technological innovations, low cost drug delivery systems and low-cost production of generic drugs.

In addition, rise in per capita income of people in developing nations, has led to an increase in the individual healthcare spending in these countries. The gloves manufacturing has also received a high demand since the outbreak of major epidemics across the globe. The industry is likely to witness substantial growth over the forecast timeframe, subsequently driving nitrile butadiene rubber latex demand over the next few years.

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In order to enhance the overall manufacturing process and support faster product cycle rates, numerous major NBR latex market giants have increasingly focused on expanding production capacities at their existing facilities. For instance, the UK headquartered chemicals firm Synthomer PLC has recently announced to expand the manufacturing capacity of its Pasir Gudang plant.

In this context, it would be prudent to mention that the demand for nitrile latex products from the healthcare and food sector has continued to increase rapidly in the recent past which has compelled the prominent NBR latex market player to undertake capacity expansion plans. Reportedly, the expansion would establish the Pasir Gudang plant as the largest nitrile polymerization reactor in the world with an annual capacity of nearly 100 kilo wet tons upon completion.

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Elaborating further on the significance of the expansion plan, Synthomer would pour in an additional RM270 million at its innovation centers and NBR production facilities in Kluang and Pasir Gudang. Needless to mention, the installation of a new manufacturing line and additional investment bids would significantly strengthen the position of Synthomer PLC in the competitive landscape of the global NBR latex industry in the times to come. Moreover, such instances of massive capacity expansion efforts would undoubtedly assist companies to develop improved products aimed at meeting the evolving needs of customers from diverse business verticals, cite analysts.

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