NBR Market was valued at USD 1.98 Bn in 2023 and is expected to grow at USD 3.22 Bn in 2030. Global NBR Market size is expected to grow at a CAGR of 7.19 % through the forecast period.
NBR Market Overview
The Nitrile Butadiene Rubber Market is a critical material in various industries due to its unique properties, such as resistance to oil, fuel, and other chemicals. NBR is a synthetic rubber copolymer composed of acrylonitrile and butadiene, making it suitable for use in automotive, industrial, aeronautical, and even medical applications. As of 2023, the NBR market was valued at USD 1.98 billion and is projected to reach USD 3.22 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.19% during the forecast period. The increasing demand for NBR across several industries, driven by its versatile nature and wide-ranging applications, fuels this growth.
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Report Scope
This report provides a comprehensive analysis of the global NBR market, covering various segments, including type, application, and end-users. It explores market dynamics, such as drivers, restraints, opportunities, and challenges, offering a detailed insight into current trends and future growth potential. The geographical analysis covers major regions, including North America, Asia-Pacific, Europe, the Middle East & Africa, and South America. Additionally, the report includes an in-depth assessment of the COVID-19 impact on the NBR market, examining both short-term disruptions and long-term shifts in demand.
Drivers
The primary driver of the NBR market is its widespread use in the automotive industry. NBR’s resistance to oil and fuel, combined with its durability, makes it ideal for manufacturing various automotive components, such as hoses, seals, and grommets. Additionally, the growth of the automotive sector, particularly in emerging economies like China and India, further propels the demand for NBR.
Another significant driver is the increasing use of NBR in the medical industry, particularly in the production of gloves. NBR gloves are favored over latex gloves due to their higher puncture resistance and lower risk of causing allergic reactions. The growing emphasis on hygiene and safety in healthcare, especially after the COVID-19 pandemic, has significantly boosted the demand for NBR gloves.
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Key Players: The key players are
1. LANXESS
2. Sinopec
3. Kumho Petrochemical
4. TSRC Corporation
5. JSR Corporation
6. LG Chem
7. Versalis S.p.A
8. ZEON Corporation
9. SIBUR Holding
10.OMNOVA Solutions Inc.
11.Atlantic Gasket Corporation,
12.Apcotex Industries Limited
13.AirBoss of America Corp.
14.BASF SE,
15.Hanna Rubber Company
16.Versalis
17.PetroChina
18.Huangshan Hualan Technology Co. ltd
19.Dow
20.ARLANXEO
21.CNPC
22.Ningbo Shunze
23.Nantex
24.Nanjing Xinfeima Chemical
25.Jiangyin Zhengbang Chemicals
26 Petrobras Argentina
Segmentation:
By Application: The major applications of NBR include O-rings & seals, gloves, hoses, and adhesives. Among these, the O-rings & seals segment is expected to grow at the highest CAGR during the forecast period. These components are essential in industries such as manufacturing, oil & gas, and automotive due to their low compression set, high tensile strength, and oil resistance.
By End-User: The automotive & transportation segment held the largest market share in 2023 and is expected to continue dominating the market. NBR’s properties, such as high abrasion resistance and durability under extreme temperatures, make it indispensable in automotive manufacturing. The medical industry is also anticipated to witness significant growth due to the rising demand for NBR gloves and other medical supplies.
by Type
Bimodal
Liquid
Carboxylate
by Application
O-Rings & Seals
Hoses, Belts & Cables
Molded & Extruded Products
Adhesives & Sealants
Gloves
Others
by End-User
Automotive & Transportation
Industrial
Oil & Gas
Mining & Metallurgy
Construction
Medical
Others
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NBR Market Regional Analysis
The Asia-Pacific region is projected to lead the global NBR market, with the highest CAGR during the forecast period. Countries like China, India, and Japan are driving this growth due to their expanding automotive and industrial sectors. China, in particular, is expected to account for the largest share of the market, given its dominance in vehicle manufacturing and the growing demand for NBR in various applications.
In North America and Europe, the NBR market is also expected to grow steadily, driven by the automotive industry’s continued expansion and the increasing adoption of NBR in healthcare. However, these regions may face challenges related to environmental regulations and the availability of alternative materials.
COVID-19 Impact Analysis
The COVID-19 pandemic had a mixed impact on the NBR market. On the one hand, the automotive and industrial sectors experienced significant disruptions due to lockdowns and supply chain challenges, leading to a temporary decline in demand for NBR. On the other hand, the healthcare sector witnessed a surge in demand for NBR gloves and medical supplies, driven by the heightened focus on hygiene and safety. This demand is expected to sustain in the post-pandemic era, contributing to the overall growth of the NBR market.
As industries gradually recover from the pandemic’s impact, the NBR market is poised for a robust rebound, supported by pent-up demand and government initiatives to revive economic activities. The increased awareness of health and safety standards is also expected to drive long-term growth in the medical applications of NBR.
Key Questions Answered:
- What will be the CAGR of the NBR market during the forecast period?
- Which segment emerged as the leading segment in the NBR market?
- Who are the prominent players in the NBR market?
- What will be the NBR market size by 2027?
- Which company held the largest share in the NBR market?
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