The Coronavirus has put extreme pressure on the production and supply of PPE. Disposable glove use continues to rise in the medical and food industries, as infection control measures are more important than ever; while in the industrial, retail and logistics industries gloves are being worn to help protect staff from contracting the virus itself.
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Just as worldwide shortages of masks and disinfectant products have increased the prices of those products, single-use gloves, particularly nitrile, have become increasingly difficult and costly to come by during the pandemic. We discuss the reasons for the price increases below:
1. SUPPLY & DEMAND
There has been a 45% increase in global demand for nitrile disposable gloves since the start of COVID-19. Put that into figures, the supply and demand deficit equates to a shortfall of 214 billion disposable gloves - demand has exploded while the supply is only growing incrementally.
US-based Allied Market Research estimates that the global disposable gloves market amounted to $6.8 billion in , and is expected to nearly triple to $18.8 billion by .
This is leading to glove manufacturers posting record profits, attributed to the increased production, a higher volume of gloves sold and significantly higher average selling prices compared with . Net profits as high as a sevenfold increase are now being reported.
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2. PRODUCTION COSTS & CAPACITY
As glove manufacturers produce at their maximum output, the increased glove demand continues to far exceed global supply availability.
The lack of workers in glove manufacturing, due to health and social restrictions of the pandemic, is resulting in increased production costs. Factories must implement Covid testing to avoid the spread of the virus in their facilities, otherwise lockdown measures occur, as has happened to one of the world&#;s largest glove manufacturers, affecting thousands of workers.
There are also reports of nitrile glove capacity constrained by the shortage of glove moulds, which are essential for production.
3. RAW MATERIALS
The worldwide shortage of nitrile gloves is predicted to continue for more than a year into the first half of due to a lack of raw materials.
Factories that supply the raw materials are adding new capacity based on the previous year&#;s demand - insufficient for current demand levels. Building new factories to handle the current demand of nitrile rubber can take upwards of 18 months to be operational.
"The shortage of raw material for our nitrile gloves and the disruption to the supply or production of other material such as packaging materials due to the global lockdown, has caused an increase in the production cost," according to the world's biggest producer of rubber gloves.
4. THIRD-PARTY DEALERS & HEDGE FUND INVESTMENTS
Social media is awash with third-party dealers offering gloves at exorbitant prices to those desperate enough to purchase from them, in order for their business to continue to operate. Some factories are offloading rejected quality stock they are unable to sell directly to hospitals and governments without legal risks. That is, rejected stock off the production line, offloaded through freight forwarders and third-party brokers without export paperwork which is legally required.
Additionally, investment firms are financing glove purchasing deals in return for large profit share, which in turn is driving total glove cost.
The culmination of these factors are the reason nitrile glove users have seen a dramatic increase in cost throughout . With prices likely to continue increasing for the foreseeable future, purchasing gloves, especially during a pandemic, does come with quality and safety issues for users, particularly in the medical and food industries.
With reject and counterfeit gloves currently on the market claiming to be medical and food grade, always:
quality standards
of the product you are purchasing;At Eagle Protect&#;, we supply the highest quality and responsibly sourced product to protect you and your business. In addition to the requirements set out in our Eagle Supplier Code of Conduct, we are also proud to be the worlds&#; only disposable glove & PPE clothing specialist to be a Certified B Corporation. This transparency allows us to maintain and hold our manufacturers accountable for product standards and quality of manufacturing, despite the pressures of the pandemic. Our team of experts is ready to help you with any questions you may have.
To help offset rising glove prices and extend business' nitrile supply, Eagle sourced the STRETCHPoly and TPE Embossed disposable gloves. They are FDA compliant for food handling, made from lightweight stretch polyethylene and are great cost-effective glove options for light food handling and sanitation. Using Eagle poly gloves where possible helps to reserve nitrile gloves for tasks where they are truly needed. We also have FineTOUGH nitrile gloves and LOW-DERMA Sensitive nitrile gloves available online.
Written by:
Lynda Ronaldson, VP Marketing
Nitrile gloves are one of the most disposable gloves used in different industries all around the globe today. They easily get picked over Latex and vinyl gloves because they perform the functions of the other popular gloves combined with a lesser risk of allergy.
Following the COVID-19 outbreak, Nitrile gloves were not much in supply, yet the demand for the protective gloves increased. The scarcity, of course, caused a hike in Nitrile gloves pricing and the alternative products available too.
During the pandemic, a pack of nitrile gloves rose from $3 up to $32. The reason for the price difference was given to be the shortage in supply of the major materials used in making nitrile gloves. However, it wasn't much of an excuse for the almost % increase in the price, seeing that the manufacturers saw the high demand as the perfect opportunity to make more money.
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How about now? Are there any differences in the cost of nitrile gloves? How much are nitrile gloves? Why are Nitrile gloves so expensive now? When will nitrile gloves be cheaper?
Read through to find answers to the above questions about nitrile gloves pricing today.
How Much are Nitrile Gloves on Average?
The average cost of nitrile gloves in is $20. The lowest price you can find per pack now is $10+, which is about one cent per count. On the extreme, you can purchase nitrile gloves for $50+ per bundle.
One would think that the hike in Nitrile gloves pricing would end with the pandemic, but that is not the case. They are still as expensive as in the COVID-19 era, with no certainty of a significant fall in the price.
Why are Nitrile Gloves so Expensive Now?
We can trace the ridiculous price of nitrile gloves currently to multiple factors stemming from the pandemic period in . PPE prices rose generally, and since the hike, there has been no significant improvement in their costs, especially the highly-demanded nitrile gloves.
To answer the question, "why are Nitrile gloves so expensive now", we would say it is as a result of the following;
Demand and supply: As we stated earlier, nitrile gloves are currently the most preferred of all the other gloves available. That means the ask for the gloves is not getting any lower. Covid or not, people still want nitrile gloves because of their protective qualities.
Production cost: Since the cost of materials used in making nitrile gloves has increased, manufacturing companies spend more to create more nitrile gloves. The strain falls on the pricing as manufacturers have to cover the increased expenses and make more profit.
Raw material scarcity: The current demand level for nitrile gloves cannot be met by factories that supply raw materials because they simply do not have sufficient supplies. That means the scarcity of nitrile gloves does not end anytime soon unless that changes, hence the continuous hike in price.
Hoarding: From raw material suppliers to retailers, everybody wants to get a slice of the increased demand for nitrile gloves. Although the supply of raw materials is indeed limited, many suppliers are boarding goods deliberately to make more profit.
When Will Nitrile Gloves be Cheaper?
Due to the circumstances responsible for the hike in Nitrile gloves cost, it will be a long time before there can be changes in the market value. The most logical answer to when nitrile gloves will be cheaper is if demand for it decreases, but that is farfetched.
People use nitrile gloves for many reasons other than preventing infections. They use them in the kitchen when cooking because it has been proven that nitrile gloves are safe for handling food items.
Nitrile gloves are also more chemical-resistant than other types of protective gloves. People who work in industries where harmful substances are handled will keep favoring nitrile gloves.
We can go on and on to give instances why people use nitrile gloves, but the bottom line is that the demand for nitrile gloves will not end anytime soon because of their versatile application. Unless better gloves than nitrile gloves come up or they are announced to be unsafe, we don't see a fall in demand any time soon.
That leaves us with hopes that the supply of raw materials for nitrile gloves rises to meet the high demands for the gloves. If the supply of butadiene, acrylonitrile, and other materials used in making nitrile gloves increase, the hike in price will definitely fall.
So, to answer the question, "when will nitrile gloves be cheaper?" We would say that can happen when nitrile gloves increase in circulation or the demands for it become lower.
How to Get the Most Out of Your Nitrile Gloves
Since there may not be a notable decrease in the price of nitrile gloves, it is best to know how to get the most out of them and prevent spending extra cents to stock up. The tips that we have provided below will help;
Buying the best-quality nitrile gloves is the way to go now since you are most likely to stock up to prevent buying at a higher price later. You should purchase products with long shelf life and can withstand harsh conditions. Their quality will be maintained and won't suffer premature rips and tears.
Most of the nitrile gloves available now are disposable types. However, the current expensive pricing of nitrile gloves has taught us that they can be reused. You can wash and reuse your nitrile gloves now, especially when you have only used them lightly. That will reduce the number of pairs you use overtime and reduce glove expenses.
You can reuse your nitrile gloves in cases where you have used them for shopping, food items, cooking, and other light uses. Ensure you wash them with cold water and mild soap to keep them clean and ideal for repeated use.
Never miss little details like choosing the right size of nitrile gloves, wearing and taking them off correctly, and storing them safely. That prolongs the useful lives of the nitrile gloves and helps you to get the most out of them. Ensure you wear your gloves correctly and store them in clean, safe places.
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Here is our summary of our article on "Why are nitrile gloves so expensive and when will they be cheaper?"
Nitrile gloves are expensive because there are not enough of them in circulation. If the supply of nitrile gloves increases to meet the demand, the prices can go down in folds. A decrease in demand can also help level up the huge difference in the demand-supply relationship of nitrile gloves.
Since there is no promise that nitrile gloves will become cheaper soon, we advise that you purchase high-quality products for reuse and durability. Primo dental products is your one-stop PPE shop to get the best medical products.
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