The Worldwide Nitrile Butadiene Rubber Industry is Expected to Reach $2.9 Billion by 2028 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Nitrile Butadiene Rubber Market Size, Share & Trends Analysis Report by Product (Hoses, Cables, Belts, Molded & Extruded Products, Seals & O-rings, Rubber Compounds, Adhesives & Sealants), by End Use, by Region, and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global nitrile butadiene rubber market size is anticipated to reach USD 2.9 billion by 2028. The market is expected to expand at a CAGR of 4.4% from 2021 to 2028.
- Zeon Chemicals L.P.
- PetroChina Company Limited
- Dynasol Group
- Synthos S.A.
- KUMHO PETROCHEMICAL
- LG Chem
- Versalis S.p.A.
- JSR Corporation
- AirBoss of America
- Atlantic Gasket Corporation
- Precision Associates Inc.
- Anqing Hualan Technology Co., Ltd.
- NANTEX Industry Co., Ltd.
- Apcotex Industries Limited
- Chang Rubber
- Hanna Rubber Company
The market is anticipated to grow by developing automotive, mechanical engineering, medical, construction, oil and gas, and other sectors across the globe. Nitrile butadiene rubber (NBR) products are used for sealing, medical gloves, and belts in transmission and conveyor devices which are expected to drive its demand in the sectors mentioned above over the forecast period.
Nitrile butadiene rubber exhibits low gas permeability, heat resistance, toughness, high tensile strength, good oil resistance, abrasion resistance, low compression set, and resilience. These properties make it popular in applications requiring oil resistance, performance under extreme temperatures, and personal protection. Due to its more comprehensive temperature range, nitrile butadiene rubber is used in the aerospace sector for self-sealing fuel tanks and bladders. Also, hypoallergenic qualities of nitrile butadiene rubber have created the opportunity to manufacture thinner disposable gloves in medical end-use to heavy-duty gloves in nuclear applications.
Key market players are executing expansion strategies to enter new markets and reach a broader audience in the end-use sectors. In April 2021, ARLANXEO entered the Indian sub-continent with the launch of ARLANXEO India Private Limited. India has one of the largest vehicle markets globally and is expected to grow by the end of 2021 further. By growing its presence in India, ARLANXEO aims to broaden its capabilities to meet the needs of quickly expanding industries in India, such as automotive, tires, pharmaceutical, and end-user products.
The market has witnessed mergers and acquisitions by major players to strengthen their market presence. For instance, in April 2020, Synthomer plc acquired OMNOVA Solutions Inc. This acquisition is expected to strengthen Synthomer plc's presence in North America and increase its presence in Asia, Europe with further penetration of the market in China.
Nitrile Butadiene Rubber Market Report Highlights
- The market was valued at USD 2.1 billion in 2020 and is estimated to witness a CAGR of 4.4% from 2021 to 2028
- The medical end-use segment is expected to witness the highest CAGR of 5.1% over the forecast period in terms of revenue. The significant CAGR is attributed to increasing use of nitrile butadiene rubber in medical gloves
- The seals and o-rings dominated the product segment in the market and accounted for more than 18.0% of the overall revenue in 2020. This high share is attributed to its use in oil and gas, automotive, medical, construction, and mining end uses
- The increasing demand for nitrile butadiene rubber in automotive owing to its properties such as resistance to oil and chemicals, structural stability in extreme temperatures, and impact resistance is expected to drive the market for nitrile butadiene rubber
- Asia Pacific accounted for more than 55.0% of the overall revenue share in 2020. The market is expected to witness a CAGR of 4.9% over the forecast period
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Nitrile Butadiene Rubber (NBR) Market Variables, Trends & Scope
3.1 Market Segment & Scope
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Trends
3.4 Regulatory Framework
3.4.1 Code of federal regulations
3.5 Market Dynamics
3.5.1 Market Driver Analysis
18.104.22.168 Ascending demand from oil & gas industry
22.214.171.124 Increasing demand from automotive industry
3.5.2 Market restraint Analysis
126.96.36.199 Volatile raw material prices
3.6 Business Environment Analysis: Nitrile Butadiene Rubber (NBR) Market
3.6.1 Porters five forces analysis
3.6.2 PESTLE analysis
Chapter 4 Nitrile Butadiene Rubber (NBR) Market: Product Estimates & Trend Analysis
Chapter 5 Nitrile Butadiene Rubber (NBR) Market: End-use Estimates & Trend Analysis
Chapter 6 Nitrile Butadiene Rubber (NBR) Market: Region Estimates & Trend Analysis
Chapter 7 Competitive Landscape
7.1 Key global players & recent developments & their impact on the industry
7.2 Key Company/Competition Categorization
7.3 Vendor Landscape
7.3.1 List of Key Distributors & Channel Partners
7.3.2 List of Potential costumers
7.3.3 Competitive Dashboard Analysis
7.3.4 List of Private Companies
Chapter 8 Company Profiles
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