Global Specialty Nitrile Butadiene Rubber Market, By Product (Carboxylated, Bimodal and Liquid), End User (Construction, Automotive, Medical, Other) – Industry Trends and Forecast to 2029.
Specialty Nitrile Butadiene Rubber Market Analysis and Size
The specialty chemicals market is expected to witness marvellous growth during forecast period. The specialty nitrile butadiene rubber market is anticipated to account for an attractive growth rate during the forecast period driven by application-specific developments and technological innovations. Major market players in specialty nitrile butadiene rubber market are aligning their operating model to the new normal by moving towards digitalization of operations and adapting to developing technologies in artificial intelligence and robotic automation.
Data Bridge Market Research analyses that the specialty nitrile butadiene rubber market was valued at USD 668.61 million in 2021 and is expected to reach USD 965.49 million by 2029, registering a CAGR of 4.70 % during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Specialty Nitrile Butadiene Rubber Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Carboxylated, Bimodal and Liquid), End User (Construction, Automotive, Medical, Other)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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ZEON CORPORATION (Japan), American Rubber (U.S.), JSR Corporation (Japan), China Petrochemical Corporation (China), TSRC (Taiwan), LG Chem (South Korea), Versalis S.p.A (Italy), Sibur (Russia), Omnova Solutions Inc, (U.S.), KUMHO POLYCHEM (South Korea), Lion Elastomers (U.S), Griffith Rubber Mills (U.S.), HINDUSTAN RUBBER INDUSTRIES (India)
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Market Opportunities
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Market Definition
Specialty nitrile butadiene rubber (NBR) is widely used for manufacturing of automotive and of industrial rubber products, for instance, such as synthetic latex. This rubber is formed in an emulsion polymerization system. This oil-resistant synthetic rubber is produced from a copolymer of butadiene and acrylonitrile. Its main applications are in rollers, fuel hoses, gaskets, and other products in which oil resistance is required.
Global Specialty Nitrile Butadiene Rubber Market Dynamics
Drivers
- Rapid industrialization
Rapid industrialization and noticeable demand from countries have arisen. Increase in investments in construction and infrastructure development projects in several countries, Therefore, these countries are considered as a favourable destination for the specialty nitrile butadiene rubber manufacturers; thereby, expected to increasing the market growth.
- Several industrial applications
The market scope of specialty nitrile butadiene rubber is continuously increasing with the evolving end-users industries such as healthcare, automotive, construction and other. Moreover, specialty nitrile butadiene rubber is widely used in the automotive sector for bonding, laminating, and assembling inner components in automobiles are expected to drive the growth of the specialty nitrile butadiene rubber market during the forecast period.
- Rising renovation and industrial construction
Increasing need for renovation of older residential infrastructure and growing residential construction due to increase in modernization, population and family size are expected to increase the demand of specialty nitrile butadiene rubber and are expected to drive the market's growth rate.
Opportunities
- Increasing Preference for Electric Vehicles
The increasing preference for electric vehicles to extend the growth aspects for the specialty nitrile butadiene rubber in the market. Significant increase in automobile companies is the major reason behind the rise in electric vehicle manufacturing, which will likely create immense opportunities for the growth of the specialty nitrile butadiene rubber (NBR) market.
- Technological advancement
The research and development team has facilitated the development of products with optimum and advanced features in specialty nitrile butadiene rubber market. This is one of the major factors that drives and further boost the beneficial opportunities for the growth of specialty nitrile butadiene rubber market.
Restraints/ Challenges
- High cost associated with market
The process involves high amount of expenditure which is expected to hamper the growth of the specialty nitrile butadiene rubber market. There is a high cost of ownership with the availability of the other alternatives in the market. These are some of the major factors which are restraining the growth of the specialty nitrile butadiene rubber market during the above mentioned forecast period.
This specialty nitrile butadiene rubber market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the specialty nitrile butadiene rubber market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Specialty Nitrile Butadiene Rubber Market
The COVID-19 outbreak has been adversely affected the specialty Nitrile butadiene rubber industry The chemical industry plays an vital role in the production of large number of products such as fertilizers, plastic, medicines, packaging products and so on. Several production facilities of numerous end-user industries have been paused during the pandemic. With this, the demand for chemicals used in the production of specialty nitrile butadiene rubber has been declined. Thus, the ongoing spread of COVID-19 overall the globe is expected to impact the demand of specialty nitrile butadiene rubber market.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Specialty Nitrile Butadiene Rubber Market Scope
The specialty nitrile butadiene rubber market is segmented on the basis of product and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Carboxylated
- Bimodal and Liquid
End User
- Construction
- Automotive
- Medical
- Other
Specialty Nitrile Butadiene Rubber Market Regional Analysis/Insights
The specialty nitrile butadiene rubber market is analysed and market size insights and trends are provided by country, product and end user as referenced above.
The countries covered in the specialty nitrile butadiene rubber market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa.
North America dominates the specialty nitrile butadiene rubber market in terms of market share and due to rising demand for domestic automobiles because of increasing spending of foreign companies in establishing the manufacturing facilities in this region.
Europe is expected to be the fastest developing region during the forecast period due to the increasing demand for electric vehicles in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Specialty Nitrile Butadiene Rubber Market Share Analysis
The specialty nitrile butadiene rubber market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to specialty nitrile butadiene rubber market.
Some of the major players operating in the specialty nitrile butadiene rubber market are:
- ZEON CORPORATION (Japan)
- American Rubber (U.S.)
- JSR Corporation (Japan)
- China Petrochemical Corporation (China)
- TSRC (Taiwan)
- LG Chem (South Korea)
- Versalis S.p.A (Italy)
- Sibur (Russia)
- Omnova Solutions Inc,(U.S.)
- KUMHO POLYCHEM (South Korea)
- Lion Elastomers (U.S)
- Griffith Rubber Mills (U.S.)
- HINDUSTAN RUBBER INDUSTRIES (India)
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