Press release
Nitrile Butadiene Rubber (NBR) Market Size expected to grow USD 3.48 billion, Share, Recent Trends and Forecast 2029 - ARLANXEO, Zeon Chemicals L.P., NITRIFLEX, SIBUR, PetroChina Company Limited
The global market for Nitrile Butadiene Rubber (NBR) estimated at USD 2.10 billion in 2021, is projected to reach a revised size of USD 3.48 billion by 2029 registering a compounded annual growth rate (CAGR) of 5.9% over the period 2023-2029.The latest report titled Nitrile Butadiene Rubber (NBR) Market contains wide-broadening quantifiable facts of the market and studies current industry circumstances on a large scale to offer the market consequences, market value, and growth valuation. The report includes skilful examination, data on the overall market, as well as constraints and headway purposes of the future along with a noteworthy perception of the improvement of the global Nitrile Butadiene Rubber (NBR) market.
The report describes the profile of the top manufacturers of the global Nitrile Butadiene Rubber (NBR) market. It also covers segments such as competitor segment, product type segment, end use/application segment, and geography segment. The authors of the report have examined market demand, turnover, production and growth potential, geographic analysis, as well as current market developments in various regions and countries.
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Competitive Assessment:
The main research methodology applied here by the research team is data triangulation, which includes data mining, analysis of the impact of data variables on the market, and primary (industry experts) validation. This report helps to gather information about all the above factors by providing actionable market insights and comprehensive analysis. The Nitrile Butadiene Rubber (NBR) market report mainly focuses on important aspects of the market which include historical data, current market trends, environment, technological innovations, upcoming technologies, and technological advancement in the industry among others.
Leading market players in the Nitrile Butadiene Rubber (NBR) market is focusing on strategies such as expansion, new product launches, and acquisitions to gain large market share and enhance their global presence in the target market. Some Key Competitors of the Nitrile Butadiene Rubber (NBR) market is ARLANXEO, Zeon Chemicals L.P., NITRIFLEX, SIBUR, PetroChina Company Limited, Dynasol Group, Synthos S.A., KUMHO PETROCHEMICAL, LG Chem, Versalis S.p.A., JSR Corporation, AirBoss of America. and others.
Nitrile Butadiene Rubber (NBR) Market Recent Developments
August 2022: Kumho Petrochemical announced a major investment initiative that will see the South Korean group pumping KRW6,000 billion (~USD 5.10 billion) into existing and new businesses over the next five years. As part of the initiative, Kumho will invest KRW 3,300 billion (~USD 2.81 billion) in its core business areas, which include nitrile butadiene latex (NB latex) production and styrene solution butadiene rubber (SSBR) manufacturing.
Nitrile Butadiene Rubber (NBR) Market Segmentation:
Nitrile Butadiene Rubber (NBR) Market by Product, 2023 -2029 (USD Millions)
Hoses
Cables
Belts
Molded & Extruded Products
Seals & O-Rings
Rubber Compounds
Adhesives & Sealants
Nitrile Butadiene Rubber (NBR) Market by End Use Industry, 2023 -2029 (USD Millions)
Automotive
Mechanical Engineering
Oil & Gas
Metallurgy & Mining
Construction
Medical
Others
Nitrile Butadiene Rubber (NBR) Market Drivers:
Rapid development in transportation industry is driving growth of the Nitrile Butadiene Rubber (NBR) market. For instance, according to the Coherent Market Insights analysis, the automobile sector in India is expected to grow due to favorable government policies, such as the extension of the FAME-2 scheme till 2022 and the Production Link Incentive (PLI) scheme for auto and auto components manufacturers in India, valued at about INR 18,000 crore. According to same source, Airbus delivered 611 commercial flights in 2022, increasing from 566 flights delivered in 2022.
Nitrile Butadiene Rubber (NBR) Market Restraints:
Availability of substitute products such as a polyurethane-based thermoset elastomer, Brandonite 1200-60A is expected to hinder the NBR market growth.
Fluctuating price of raw materials is another key factor expected to hamper the market growth. NBR rubber is produced by the copolymerization of acrylonitrile and butadiene. The price of acrylonitrile differs due to the supply fluctuations and the volatility of prices of propylene.
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Regional Framework
The Nitrile Butadiene Rubber (NBR) Market report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the market based on various segments. It also provides market size and forecast estimates from the years 2023-2029 with respect to five major regions. The market by each region is later sub-segmented by respective countries and segments. The Nitrile Butadiene Rubber (NBR) market report covers the analysis and forecast globally along with the current trend and opportunities prevailing in the region.
⇨ North America (United States, Canada, and Mexico)
⇨ Europe (Germany, France, UK, Russia, and Italy)
⇨ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
⇨ South America (Brazil, Argentina, Colombia, etc.)
⇨ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
This Report Also Includes:
» Nitrile Butadiene Rubber (NBR) Market Insights methodology
» Tactics and suggestions for new entrants
» Segmentation analysis
» Economic indices
» Companies' strategic developments
» Nitrile Butadiene Rubber (NBR) Market growth drivers and restraints
» Selected illustrations of the market penetrations and trends
Crucial insights in Nitrile Butadiene Rubber (NBR) research report:
Underlying macro- and microeconomic factors impacting the Sales of Nitrile Butadiene Rubber (NBR).
Basic overview of the Nitrile Butadiene Rubber (NBR), including market definition, classification, and applications.
Scrutinization of each market player based on mergers & acquisitions, R&D projects, and product launches.
Adoption trend and supply side analysis of Nitrile Butadiene Rubber (NBR) across various industries.
Important regions and countries offering lucrative opportunities to market stakeholders.
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The Study Objectives are:
✔ An in-depth look at the key players in the Nitrile Butadiene Rubber (NBR) market, as well as the data that goes with them.
✔ It includes a product portfolio, annual revenue, research and development spending, geographic presence, recent key developments, and growth strategies.
✔ Regional analysis, which includes information on the dominant Nitrile Butadiene Rubber (NBR) market and its share of the market.
✔ It also includes various socioeconomic factors that influence the market's evolution in the region.
✔ The report provides a detailed look at various members of the value chain, including raw material suppliers, distributors, and stockholders.
Key questions answered in the report:
✦ What is the Nitrile Butadiene Rubber (NBR) market's growth potential?
✦ Which product category will be the most profitable?
✦ In the coming years, which regional market will emerge as a leader?
✦ Which application segment will continue to expand at a steady rate?
✦ What are the potential growth opportunities in the Nitrile Butadiene Rubber (NBR) Market in the coming years?
✦ What are the most significant challenges that the global Nitrile Butadiene Rubber (NBR) Markets may face in the future?
✦ What are the top companies in the global Nitrile Butadiene Rubber (NBR) market?
✦ What are the main trends that are positively impacting the market's growth?
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