The global nitrile butadiene rubber (NBR) market is experiencing steady growth. NBR is a synthetic rubber known for its excellent oil and chemical resistance, making it highly suitable for applications in industries such as automotive, oil and gas, and industrial manufacturing. The increasing demand for NBR gloves in healthcare and industrial sectors and its use in sealing and gasket applications drive market growth. Additionally, advancements in NBR production technologies and a rising focus on sustainability contribute to the market's expansion.
According to Data Bridge Market Research, the Nitrile Butadiene Rubber (NBR) Market is expected to reach the value of CAGR of 7.68% for the forecast period of 2022-2029.
“Increasing demand in automotive industry surge market demand"
The automotive industry is a major driver of the increasing demand for nitrile butadiene rubber (NBR). NBR is widely utilized in automotive manufacturing for its excellent properties, including oil and chemical resistance. It is used to produce critical components such as hoses, gaskets, seals, and O-rings, which are essential for the efficient functioning of vehicles. With the growing production of automobiles and the industry's focus on fuel efficiency, performance, and durability, the demand for NBR continues to rise in the automotive sector.
What restraints the growth of the nitrile butadiene rubber (NBR) market?
“Fluctuating raw material prices can impede the market growth”
The nitrile butadiene rubber (NBR) market faces the challenge of fluctuating raw material prices, particularly butadiene, and acrylonitrile. These raw materials are key components in NBR production. Price volatility can affect the overall production cost, making it challenging for manufacturers to maintain profitability. Fluctuations in raw material prices can disrupt supply chains, impact pricing strategies, and potentially hinder the growth of the NBR market. Manufacturers must closely monitor and manage raw material costs to mitigate the impact of price fluctuations on their operations and profitability.
Segmentation: Global Nitrile Butadiene Rubber (NBR) Market
The nitrile butadiene rubber (NBR) market is segmented on the basis of products and applications.
- On the basis of product, nitrile butadiene rubber (NBR) market is segmented into hoses, belts, cables, molded and extruded products, seals and o-rings, rubber compounds, adhesives and sealants, gloves, foamed products, and others.
- On the basis of application segment the nitrile butadiene rubber (NBR) market is segmented into automotive, mechanical engineering, oil and gas, metallurgy and mining, construction, medical, and others.
Regional Insights: Asia-Pacific dominates the global nitrile butadiene rubber (NBR) market
Asia-Pacific is the dominant region in the nitrile butadiene rubber (NBR) market, and its dominance is expected to continue due to several factors. Rapid industrialization in the region has led to increased demand for NBR in various applications, particularly in the automotive sector. The region's high production of automotive components further drives the demand for NBR. Additionally, government initiatives to expand the automotive industry and promote manufacturing activities in Asia-Pacific contribute to the region's flourishing dominance in the NBR market.
North America is anticipated to experience growth in the nitrile butadiene rubber (NBR) market during the forecast period. This growth can be attributed to the increasing awareness of worker safety and the implementation of strict regulations pertaining to occupational hazards in these regions. The emphasis on providing safe working environments has led to a higher demand for NBR-based safety equipment and protective gear, such as gloves and seals, driving the market growth in North America.
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The Prominent Key Players Operating in the Global Nitrile Butadiene Rubber (NBR) Market Include:
- Versalis S.p.A. (Italy)
- Huangshan Hualan Chemical Co., Ltd. (China)
- ARLANXEO (Netherlands)
- KUMHO PETROCHEMICAL (South Korea)
- JSR Corporation (Japan)
- LG Chem (South Korea)
- ZEON CORPORATION (Japan)
- SIBUR International GmbH (Russia)
- OMNOVA Solutions Inc. (U.S.)
- PetroChina Company Limited (China)
- AirBoss of America Corp. (Canada)
- Atlantic Gasket Corporation (U.S.)
- Precision Associates, Inc. (U.S.)
- Hanna Rubber Company (U.S.)
- Dow (U.S.)
- BASF SE (Germany)
- LANXESS (Germany)
- China Petroleum & Chemical Corporation (China)
- TSRC (Taiwan)
- NANTEX Industry Co., Ltd. (Taiwan).
Above are the key players covered in the report, to know about more and exhaustive list of global nitrile butadiene rubber market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Nitrile Butadiene Rubber (NBR) Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
