Nitrile Butadiene Rubber Market Size 2023 with Key Players, Growth Opportunities, Regional Landscape and Forecast to 2030 | Apcotex Industries Limited, ARLANXEO

Global nitrile butadiene rubber market was valued at US$ 2.2 Bn in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 6.4% from 2023 to 2030.

Market Overview:

Nitrile butadiene rubber (NBR) is a kind of synthetic rubber copolymer of acrylonitrile and butadiene. NBR exhibits high strength, resilience and resistance to chemicals. It is used in automotive and industrial applications that require high temperatures, oils and fuel resistance.

Market Dynamics:

Growth in the automotive industry is expected to be a major driver for the nitrile butadiene rubber market during the forecast period. Nitrile butadiene rubber finds widespread application in automotive gaskets, oil seals, O-rings, hoses etc due to its resilience and resistance to oil, gases and chemicals. Increasing vehicle production globally is directly contributing to the demand for NBR. In addition, growing penetration of high-performance vehicles requiring specialized rubber components is further propelling the market growth. Furthermore, increasing application of NBR in downstream industrial sectors such as oil and gas, pharmaceutical, construction is expected to drive the market forward during 2023-2030 period.

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Major market players included in this report are:

★ Apcotex Industries Limited
★ ARLANXEO
★ China Petroleum & Chemical Corporation (Sinopec)
★ Dynasol Group
★ JSR Corporation
★ KUMHO PETROCHEMICAL
★ Lanxess
★ LG Chem
★ Sibur
★ Synthomer
★ Synthos
★ TSRC
★ Versalis SpA
★ Zeon Corporation

*Disclaimer: Major Players are sorted in no particular order.

Detailed Segmentation:

By Application:
✦ Adhesives and Sealants
✦ Belts and Cables
✦ Gloves
✦ Hoses
✦Gaskets and O-Rings
✦ Other Applications

By End User Industry:
✦ Automotive and Transportation
✦ Building and Construction
✦ Industrial
✦ Medical
✦ Other End user Industries

Regional Analysis:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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✤ Market Driver 1: Increasing Demand from Automotive Industry

The global nitrile butadiene rubber market is driven by the increasing demand from the automotive industry. Nitrile butadiene rubber finds widespread application in manufacturing various automotive components such as hoses, belts, gaskets, seals and O-rings due to its excellent resistance to chemicals, oils and solvents. With the steady growth of the global automotive industry, the demand for nitrile butadiene rubber is also growing. According to various estimates, the global automotive production is expected to grow at over 3% annually in the coming years. This rising automotive production will certainly drive the consumption of nitrile butadiene rubber in manufacturing different rubber components used in vehicles.

✤ Market Driver 2: Growing Usage in Healthcare Applications

Another major factor propelling the nitrile butadiene rubber market growth is the expanding usage of nitrile butadiene rubber in various healthcare applications. Nitrile butadiene rubber exhibits excellent mechanical properties, high tensile strength and resistance to puncture which makes it an ideal material for manufacturing gloves, catheter tubes and other healthcare products. With increasing health awareness and rising expenditure on healthcare globally, the demand for medical devices, surgical gloves and other disposable healthcare products is surging rapidly. Nitrile butadiene rubber, with its non-allergenic properties, finds extensive application in manufacturing such healthcare products. Thus, the growing healthcare industry is positively impacting the sales of nitrile butadiene rubber.

✤ Market Restrain: Volatility in Raw Material Prices

Fluctuations in the prices of raw materials used for producing nitrile butadiene rubber is a major challenging factor restricting the growth of this market. The key raw materials required for the production of nitrile butadiene rubber include acrylonitrile monomer, butadiene monomer and other auxiliary chemicals. The prices of these raw materials demonstrate volatility depending upon various macroeconomic and geopolitical factors. Increased prices of raw materials result in higher production cost for nitrile butadiene rubber manufacturers. This negatively impacts their profit margins. Moreover, volatility in raw material prices makes the overall costs unpredictable, posing planning and pricing challenges for market players.

✤ Market Opportunity: Rising Demand from Construction Industry

The booming construction industry worldwide presents lucrative opportunities for the expansion of the nitrile butadiene rubber market. Nitrile butadiene rubber exhibits excellent resistance against alkalis, heat, oils and aging which makes it suitable for applications in construction such as roofing membranes, gaskets, sealants, expansion joints and hoses. The global construction industry has been witnessing steady growth over the years driven by infrastructural developments, increased investments in non-residential construction and rising disposable incomes. This rising construction spending is anticipated to boost the adoption of nitrile butadiene rubber in membrane roofing, waterproofing and other construction applications. Hence, the growing construction industry can present attractive opportunities for manufacturers in the coming years.

✤ Market Trend: Innovation in Nitrile Butadiene Rubber Formulations

A major trend gaining momentum in the nitrile butadiene rubber industry is ongoing innovations in rubber formulations to cater to the specific requirements of end-use applications. Manufacturers are engaging in extensive research & development activities to develop value-added nitrile butadiene rubber grades with superior mechanical and chemical resistant properties. Some key innovations include development of low-temperature flexible NBR, high performance grades for automotive sealing, oilfield grades for drilling applications and latex formulations for medical gloves and adhesives industry. Continuous advancement in rubber compositions is helping market players to further expand the application scope of nitrile butadiene rubber. This growing focus on product innovations and development of specialized grades according to industry needs is a defining trend influencing the dynamics of this market.

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Key Questions

• How much revenue will the global Nitrile Butadiene Rubber Market generate by the end of the forecast period?

• What regions currently contribute the maximum share to the overall Nitrile Butadiene Rubber Market?

• What are the indicators expected to drive the global Nitrile Butadiene Rubber Market?

• Which region is likely to be a lucrative market during the forecast period?

• What are the essential strategies incorporated by key stakeholders in the global Nitrile Butadiene Rubber Market to expand their geographical presence?

• What are the major advancements witnessed in the global Nitrile Butadiene Rubber Market?

• This report answers these questions and more about the global Nitrile Butadiene Rubber Market, aiding major stakeholders and key players in making the right decisions and strategizing for the advancement of their business.

Table Of Content

Chapter No. 1 Introduction

1.1. Report Description

1.1.1. Purpose of the Report

1.1.2. USP & Key Offerings

1.2. Key Benefits for Stakeholders

1.3. Target Audience

1.4. Report Scope

Chapter No. 2 Executive Summary

2.1. Key Findings

2.1.1. Top Investment Pockets

2.1.1.1. Market Attractiveness Analysis, By Type

2.1.1.2. Market Attractiveness Analysis, By End Use

2.1.1.3. Market Attractiveness Analysis, By Region

2.2. Market Snapshot

2.3. Global Nitrile Butadiene Rubber Market, 2018 - 2022 (US$ Million)

2.4. Insights from Primary Respondents

Chapter No. 3 COVID-19 Impact Analysis

3.1. Impact Assessment of COVID-19 Pandemic, By Region

3.1.1. North America

3.1.2. Europe

3.1.3. Asia Pacific

3.1.4. Latin America

3.1.5. The Middle East and Africa

Chapter No. 4: Company Profiles

4.1 Company Overview
4.2 Financial elements
4.3 Product Landscape
4.4 SWOT Analysis
4.5 Systematic Outlook

Chapter No. 5: Assumptions and Acronyms

Chapter No. 6: Research Methodology

Chapter No. 7: Contact (Continue . . .)

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