Nitrile Butadiene Rubber Market Growth & Trends
The global nitrile butadiene rubber market size is anticipated to reach USD 2.9 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.4% from 2021 to 2028. 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.
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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
Access Press Release@ https://www.grandviewresearch.com/press-release/global-nitrile-butadiene-rubber-market
Nitrile Butadiene Rubber Market Segmentation
Grand View Research has segmented the nitrile butadiene rubber market on the basis of product, end use, and region:
Nitrile Butadiene Rubber Product Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Hoses
- Belts
- Cables
- Molded & Extruded Products
- Seals & O-rings
- Rubber Compounds
- Adhesives & Sealants
- Gloves
- Foamed Products
- Others
Nitrile Butadiene Rubber End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- Automotive
- Mechanical Engineering
- Oil & Gas
- Metallurgy & Mining
- Construction
- Medical
- Others
Nitrile Butadiene Rubber Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2017 - 2028)
- North America
- US.
- Canada
- Mexico
- Europe
- Germany
- UK.
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Central & South America
- Brazil
- Argentina
- Middle East & Africa
- GCC Countries
- South Africa
List of Key Players of Nitrile Butadiene Rubber Market
- ARLANXEO
- Zeon Chemicals L.P.
- NITRIFLEX
- SIBUR
- PetroChina Company Limited
- Dynasol Group
- Synthos S.A.
- KUMHO PETROCHEMICAL
- LG Chem
- JSR Corporation
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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