The global Nitrile Butadiene Rubber market size is expected to be worth around US$ 6.9 billion by 2030, according to a new report by Vision Research Reports.
The global Nitrile Butadiene Rubber market size was valued at US$ 3.10 billion in 2020 and is anticipated to grow at a CAGR of 5.4% during forecast period 2021 to 2030.
|Market Size||US$ 6.9 Billion by 2030|
|Growth Rate||CAGR of 5.4% From 2021 to 2030
|Forecast Period||2021 to 2030|
|Segments Covered||Product, End use|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||ARLANXEO; Zeon Chemicals L.P.; NITRIFLEX; SIBUR; PetroChina Company Limited; Dynasol Group; Synthos S.A.; KUMHO PETROCHEMICAL; LG Chem; JSR Corporation|
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.
growing use of synthetic rubber in oil and gas, automotive, industrial, and electrical and electronic industries has propelled the consumption of nitrile butadiene rubber material in the manufacturing of hoses, gaskets, O-rings, seals, and cable jackets. Nitrile butadiene rubber (NBR) exhibits low gas permeability, high tensile strength, good oil resistance, and low compression set, making them suitable for manufacturing sealing components, tubing, and hose liners.
By Product Analysis
The seals and O-rings segment dominated the market for nitrile butadiene rubber and accounted for the largest revenue share of more than 18% in 2020. They are used in various automotive components such as engines, doors, batteries, power steering systems, and other end-use sectors.
Nitrile butadiene rubber is widely used in the manufacturing of transmission belts in food processing, automotive, mining, and other sectors. Rising urbanization and automation of the manufacturing process and industrialization are expected to drive the demand for conveyor belts, elevator belts, and transmission belts in the above-mentioned end-use sectors in developing countries.
By End-use Analysis
The automotive end-use segment dominated the market for nitrile butadiene rubber and accounted for the prominent revenue share of more than 35.0% in 2020. The emerging electric vehicles market in developing regions is expected to drive the demand for large-sized seals used in batteries.
The mechanical engineering end-use segment accounted for the second-largest revenue share in 2020. The mechanical engineering end-use of the product include mainly precision diaphragms, valves, and other machinery and equipment components to prevent loss of gases and liquids in many end-use sectors such as steel, manufacturing, and other industrial sectors.
The construction sector incorporates nitrile butadiene rubber in the processing of building materials such as hoses, cables, and adhesives and sealants. Nitrile-based construction adhesives are utilized in roof and wall coverings, carpet laying, ceramic tiles, and countertop lamination.
Medical and metallurgy and mining are the following essential end-use sectors. Other end-users include food processing, pharmaceutical, and cosmetics packaging. Superior characteristics such as good sealing properties.
By Regional Analysis
Asia Pacific dominated the market for nitrile butadiene rubber and accounted for the largest revenue share of more than 55.0% in 2020. The demand for nitrile butadiene rubber in the Asia Pacific is primarily driven by the high demand from bulk production of molded & extruded polymer products and automotive components in India, China, and ASEAN countries.
Europe comprises a well-established medical industry coupled with a large number of chemical processing units. The region has witnessed a significant demand in medical and industrial gloves over the past few years owing to growing automotive, medical, and other end-use industries.
Zeon Chemicals L.P.
PetroChina Company Limited
AirBoss of America
Molded & Extruded Products
Seals & O-rings
Adhesives & Sealants
Oil & Gas
Metallurgy & Mining
Central & South America
Middle East & Africa
The Nitrile Butadiene Rubber market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Nitrile Butadiene Rubber market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Nitrile Butadiene Rubber market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Nitrile Butadiene Rubber market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Nitrile Butadiene Rubber market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Nitrile Butadiene Rubber capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Nitrile Butadiene Rubber by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Nitrile Butadiene Rubber market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Nitrile Butadiene Rubber market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Nitrile Butadiene Rubber market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Nitrile Butadiene Rubber industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
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 Nitrile Butadiene Rubber market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Nitrile Butadiene Rubber market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Nitrile Butadiene Rubber market. These factors have benefited the growth of the global market for Nitrile Butadiene Rubber. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Nitrile Butadiene Rubber. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Nitrile Butadiene Rubber are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
The study objectives of this report are:
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