Nitrile Butadiene Rubber Market Size & Growth Analysis to 2030

The global nitrile butadiene rubber market size is anticipated to register a significant CAGR of over 4% during the forecast period 2021 to 2027. The increasing demand for synthetic rubber in various end-use industries such as automotive, oil & gas, and industrial applications is a major factor to drive the market growth. Furthermore, the increasing safety concern in the healthcare sector and growing industrial activities around the world are further anticipated to fuel the market growth over the forecast period. However, the restriction on the use of phthalates in the formulation and strict environmental regulations are some factors to restrain the market growth.

Market Drivers:

Increasing Demand in Automotive Industry: NBR is widely used in the automotive industry for manufacturing various components such as hoses, seals, gaskets, O-rings, and belts. The growing automotive production and the need for durable, heat-resistant, and oil-resistant materials in vehicles are driving the demand for NBR.

Expansion of Oil and Gas Industry: NBR has excellent resistance to oil, fuel, and chemicals, making it suitable for applications in the oil and gas industry. It is used in the production of oil seals, gaskets, packings, and hoses for drilling equipment, pipelines, and offshore platforms. The growth of the oil and gas industry is fueling the demand for NBR.

Increasing Demand in Industrial Applications: NBR is widely used in various industrial applications due to its oil and chemical resistance, high tensile strength, and durability. It finds applications in machinery, equipment, industrial seals, rollers, gloves, and conveyor belts. The expansion of industrial sectors, such as manufacturing, construction, and machinery, is driving the demand for NBR.

Growth in Healthcare and Medical Industry: NBR is used extensively in the healthcare and medical industry for manufacturing disposable gloves, catheters, seals, and gaskets. The increasing emphasis on hygiene and safety standards, as well as the rising demand for medical devices and equipment, are driving the growth of NBR in the healthcare sector.

Expansion of Electrical and Electronics Industry: NBR is used in the electrical and electronics industry for manufacturing cable and wire insulation, connectors, and seals. Its excellent electrical insulation properties, resistance to oils and chemicals, and good mechanical strength make it suitable for such applications. The growth of the electrical and electronics industry is contributing to the demand for NBR.

Increasing Demand for Oil-resistant Hoses and Seals: NBR is widely used for manufacturing oil-resistant hoses and seals in various industries, including automotive, oil and gas, chemical, and manufacturing. The need for reliable and durable hoses and seals that can withstand exposure to oils, fuels, and other fluids is driving the demand for NBR.

Technological Advancements and Product Innovations: The NBR market is influenced by technological advancements and product innovations that enhance the properties and performance of NBR. Ongoing research and development activities focus on developing NBR with improved resistance to extreme temperatures, chemicals, and abrasion, driving its market growth.

Regulatory Standards and Environmental Concerns: The use of NBR is often regulated by standards and regulations related to product safety, environmental sustainability, and workplace safety. NBR is considered a safe and reliable material, meeting the required standards, which contributes to its increased adoption and market demand.

Market Snapshot:

Market Insights:

The global nitrile butadiene rubber market is bifurcated into product, end-use, and geography. On the basis of product, the market is further segmented into seals & o-rings, hoses, belts, cables, molded & extruded products, rubber compounds, and others. The seals & o-rings segment dominated the global market in 2020 and accounted to hold the largest revenue share of around 20% by the end of the analysis period. The wide use of the product in various applications such as oil & gas, manufacturing, and automotive is a major factor to drive the segment growth. Furthermore, the increasing demand for automobiles is expected to increase the demand for o-rings & seals in the automotive industry.

On the basis of end-use, the market is segmented into automotive, mechanical engineering, oil & gas, medical, and others. The automotive segment dominated the global nitrile butadiene rubber market in 2020 and is estimated to hold the largest revenue share of over one-third of the market. The rising demand for electric vehicles around the world is a prominent factor to drive the segment growth. The properties associated with the product such as oil & fuel resistance and good mechanical properties are expected to drive the segment growth over the forecast period.

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The nitrile butadiene rubber comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The nitrile butadiene rubber market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product:

• Hoses
• Belts
• Cables
• Molded & Extruded Products
• Seals & O-rings
• Rubber Compounds
• Adhesives & Sealants
• Gloves
• Foamed Products
• Others

By End-Use:

• Automotive
• Mechanical Engineering
• Oil & Gas
• Metallurgy & Mining
• Construction
• Medical
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the Asia Pacific dominated the global nitrile butadiene rubber market in 2020 and accounted to hold the largest revenue share of over half of the market by the end of the analysis period. The strong demand for the product in the automotive and manufacturing industry is one of the prominent factor to drive the market growth in the region. Furthermore, the rapid urbanization and the increasing construction activities in developing economies are further anticipated to fuel the market growth in APAC.

Competitive Assessment

Some of the major market players operating in the global nitrile butadiene rubber market are ARLANXEO, NITRIFLEX, Zeon Chemicals L.P., PetroChina Company Limited., and SIBUR. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• ARLANXEO
• NITRIFLEX
• Zeon Chemicals L.P.
• PetroChina Company Limited
• SIBUR
• Synthos S.A.
• Dynasol Group
• LG Chem
• KUMHO PETROCHEMICAL
• JSR Corporation

Key Questions Answered by Nitrile Butadiene Rubber Market Report

• Global nitrile butadiene rubber market forecasts from 2021-2027
• Regional nitrile butadiene rubber market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Nitrile butadiene rubber submarket forecasts from 2021-2027 covering the market by product, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about nitrile butadiene rubber market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level nitrile butadiene rubber markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the nitrile butadiene rubber market