The Nitrile Butadiene Rubber (NBR) Production in North America Is Anticipated to Reach 50 Thousand Tons in 2023According to a recently published report about the North American nitrile butadiene rubber (NBR) market, it was equal to 68 thousand tons in 2013. The largest country market within the region was the United States, which in 2013 accounted for a share of 84% of the total in volume terms. Until 2023, the North American market is forecast to drop to around 60 thousand tons, thus declining at a CAGR of about 0.5% per annum in the period 2018-2023. This is a slight increase, compared to the drop at a CAGR of around 1.1% per year, registered in 2013-2017.
The analytical research projects that the North American production of nitrile butadiene rubber (NBR) is likely to grow to around 50 thousand tons in the medium term. Flat dynamics of the overall installed production capacities in the region are expected. However, their annual average utilization rates are expected to increase. In addition, the market is forecast to remain relatively unbalanced in terms of supply and demand, also showing moderately mixed dynamics in the medium term.
NBR is highly dependent on the development of end-use markets such as automotive, construction, mechanical engineering, oil & gas and medical, and others. Due to its superior performance and structural attributes over other synthetic polymers, NBR is extensively used to make oil-resistant industrial goods, such as hose, belting, and cable, o-rings and seals, industrial and medical gloves, molded and extruded products, adhesives and sealants, sponges, footwear and others. The numerous applications of the downstream derivatives of NBR are the main reason for its increasing demand from various end-use industries. In fact, the automotive and mechanical engineering industries are one of the leading contributors for the growing demand for NBR over the past few years. As for the market for hydrogenated NBR (HNBR), it has been growing globally at a double-digit annual rate, due to a strong global demand from automotive manufacturers, especially in China and India. Another prominent trend is connected with Malaysia, which has emerged as a global center of the latex dipping/glove manufacturing industry. The country is the largest producer of nitrile rubber gloves worldwide, which accounted for around two-thirds of the global market in recent years.
Merger and acquisition activity has been robust in the chemical industry during the past few years. Although, the consolidation trend has been stable even in uncertain times, the number of global chemical merger and acquisition deals is decreasing. Particularly on the nitrile butadiene rubber market, there has been interest in corporate restructurings. One of the most recent deals is the purchase agreement between Synthomer Plc, a British specialty polymer producer and the US-based Omnova Solutions in July, 2019. The British company offered 824 million USD for the purchase of Omnova. Synthomer’s portfolio includes mainly aqueous dispersions, specialty additives, and elastomers such as nitrile butadiene rubber.
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