Latex Gloves - A Booming Industry

Latex Gloves - A Booming Industry

We have seen gloves in health industry majorly. Without gloves and masks, no doctor or nurses can attend any severe operation, so latex gloves have been famous and essential in the health industry since ages. But as we are witnessing a massive pandemic across the entire world, we are also observing the necessity and requirement of mask and hand gloves. The first question that arises here is why latex gloves are so profusely used in the resent era? We all know the virus which has been spread all around is an airborne communicable infectious virus and people tend to touch their faces. To avoid touching of bare hand with face or any body part, it is becoming a necessity to have gloves in hand, and a latex glove served the best purpose for that.

Some varied uses and benefits of latex gloves:

Before we head towards the benefits of latex gloves, it is imperative to add small information about latex gloves. Latex gloves are generally made of the latex of particular rubber tree, and these gloves are usually disposable gloves which means these provide a significant barrier and create superior protection from the outer world to the places you are touching. Initially, it was being used in health industries, but we are now going to see some more sectors where latex gloves are now being used massively.

For medical use: we have repeatedly mentioned in this content only that we have witnessed the use of latex gloves in the health sector. The important fact that needs to be said is that these Latex gloves are FDA approved because it provides very massive protection against blood borne pathogens as well. There are two different types of latex gloves, one is powdered latex gloves, and the other is non-powdered gloves. So health care comprises of various sub-sectors as well, which are dental, senior-care, child-care, veterinary care, etc.

For laboratory and chemical sector use: we know that latex gloves are made up of the latex from the rubber tree, and latex has been observed as excellent resistance against many chemical agents such as acids, bases, iodine, chlorine etc. But a small mention which should be adhered here is that some do suffer from latex allergy. For those who have a particular latex allergy, they should avoid using such latex gloves.

A quick marketing outlook of Latex gloves:

The market of Latex gloves was significantly attending a height of around 3.12 billion USD in 2019, and it will attain a growth till coming years as well. Because of Covid-19 outbreak, the use of Latex gloves has been significantly increasing because it has reached ordinary people as well as they are using gloves for protection as well. Apart from the medical industry, many food industries have also accepted the use of latex glove because all such Latex disposable gloves are the popular choice in the food industry as FDA approves it and it is safe and secure. Apart from Latex gloves, vinyl and nitrate gloves are also being used in the food industry, but Latex gloves are more secure and safe from Vinyl gloves.

Related Projects: - Business Ideas after the Covid Breakdown

We can see significant growth in the chart shown below because latex gloves have shown a diversified nature by not only performing good in medical and food industry but also in industrial use as well. Nowadays in industrial level as well latex gloves are being used massively. Automotive, manufacturing, food servicing, food processing and sanitation are some sub-sector under industrial use in which latex gloves are being used profoundly and will be an option for a long run.

Conclusion: We have tried to discuss every bit about latex gloves, and we hope that it provides some informational value. Niir Project Consultancy Services (NPCS) is such a renowned organization which comes with some trustworthy and accurate facts, as shown in the above graph. You can witness from the above graph that the graph is ever growing because of the use of Latex glove in different sectors. Not only because of the extensive use of latex gloves in various industries but also because of the pandemic which has spread all over the world, the growth of latex gloves will keep on growing.

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Salary and Wages	Turnover Per Annum
Share Capital Equity Capital Preference Share Capital
Annexure 1:: Cost of Project and Means of Finance
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Annexure 14 :: Product wise domestic Sales Realisation	Annexure 15 :: Total Raw Material Cost
Annexure 16 :: Raw Material Cost per unit	Annexure 17 :: Total Lab & ETP Chemical Cost
Annexure 18 :: Consumables, Store etc.,	Annexure 19 :: Packing Material Cost
Annexure 20 :: Packing Material Cost Per Unit	Annexure 21 :: Employees Expenses
Annexure 22 :: Fuel Expenses	Annexure 23 :: Power/Electricity Expenses
Annexure 24 :: Royalty & Other Charges	Annexure 25 :: Repairs & Maintenance Exp.
Annexure 26 :: Other Mfg. Expenses	Annexure 27 :: Administration Expenses
Annexure 28 :: Selling Expenses	Annexure 29 :: Depreciation Charges – as per Books (Total)
Annexure 30 :: Depreciation Charges – as per Books (P & M)	Annexure 31 :: Depreciation Charges - As per IT Act WDV (Total)
Annexure 32 :: Depreciation Charges - As per IT Act WDV (P & M)	Annexure 33 :: Interest and Repayment - Term Loans
Annexure 34 :: Tax on Profits	Annexure 35 ::Projected Pay-Back Period And IRR