The Asian and Pacific Nitrile Butadiene Rubber (NBR) Market Projected to Reach 820 Thousand Tons By 2023

According to a recently published report about the Asian and Pacific nitrile butadiene rubber (NBR) market, it was equal to 365 thousand tons in 2013. The largest country market within the region was Malaysia, which in 2013 accounted for a share of 57% of the total in volume terms. Until 2023, the Asian and Pacific market is forecast to reach around 820 thousand tons, thus growing at a CAGR of about 6.5% per annum in the period 2018-2023. This is a significant slowdown, compared to the growth at a CAGR of around 11.3% per year, registered in 2013-2017.

The analytical research projects that the Asian and Pacific production of nitrile butadiene rubber (NBR) is likely to grow to around 350 thousand tons in the medium term. Upward dynamics of the overall installed production capacities in the region are also expected. Their annual average utilization rates, on the other hand, are expected to decline. In addition, the market is forecast to remain relatively unbalanced in terms of supply and demand, also showing moderately upwards 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.

- Company: Williams & Marshall Strategy (WMStrategy)
- Address: Hill Tower Center, 76A, James Boucher blvd., 1407, Sofia, Bulgaria
- E-mail: info@wm-strategy.com
- Website: www.wm-strategy.com/
- Telephone: +359 888 82 99 12

Williams & Marshall Strategy (WMStrategy) is a global full-service market research and consulting company, providing market insight and analysis on a wide range of industries and markets. Our unique research methodology combines quantitative and qualitative analysis and covers the whole value chain of the markets we analyze – from manufacturers and distributors through wholesalers and retailers to the final clients, which allows us to provide unmatched wide and deep industry understanding. Thus, our clients receive actionable insights on the volume, value and dynamics, trends, growth drivers, threats and opportunities of each market – intelligence that helps them be always a step ahead of the competition. WMStrategy’s reports help our clients make informed commercial planning and strategic decisions and so timely tackle the complex challenges and maximize the opportunities that impact their businesses and drive the generation, evaluation and implementation of powerful growth strategies. We are constantly enhancing our research skills and coverage by improving our work and adding new experts and geographical markets to our portfolio, making our products an essential resource for companies at global, national and local level. Our reports free up your resources and offer you timely deep industry understanding and strategic insights, required in today’s increasingly competitive business environment.

This release was published on openPR.