NBR Market: Global Industry Analysis and Forecast (2023-2029)

NBR Market was valued at US$ 1857.39 Mn in 2022 and is expected to grow at US$ 3019.83 Mn in 2029. Global NBR Market size is expected to grow at a CAGR of 7.19 % through the forecast period.

NBR Market Overview:

Nitrile (NBR) Butadiene Rubber Seals for Industrial and Domestic Use Nitrile Butadiene Rubber (NBR) is usually considered as the backbone of the industrial and automotive rubber products industries. NBR is actually a complex family of unsaturated synthetic rubber copolymers of acrylonitrile (ACN) and butadiene. Nitrile Butadiene Rubber Seals for Industrial and Domestic Use Nitrile Butadiene Rubber is usually considered as the backbone of the industrial and automotive rubber products industries. NBR is actually a complex family of unsaturated synthetic rubber copolymers of acrylonitrile (ACN) and butadiene. NBR MarketTo know about the Research Methodology :- Request Free Sample Report NBR is used in the automotive and aeronautical industry to make fuel and oil handling hoses, seals, grommets, and self-sealing fuel tanks. It is used in the nuclear industry to make protective gloves. NBR's stability at high temperatures from −40 to 108 °C (−40 to 226 °F) makes it an ideal material for aeronautical applications. Nitrile butadiene is also used to produce moulded goods, footwear, adhesives, sealants, sponges, expanded foams, and floor mats. Nitrile rubber is less likely to cause an allergic reaction than natural rubber. The report explores the Global NBR Market segments (Type, Application, End User and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Global NBR Market drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Global NBR Market contemporary competitive scenario. 2022 is considered as a base year to forecast the market from 2023 to 2029. 2020’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis especially with the impact of lockdown by region.

NBR Market Dynamics:

Major development of the global nitrile butadiene rubber market can be seen in the automotive sector. Sustainable to varied temperatures and resistance to minerals, alkali, oils, and acid makes it favourable to be used in the automotive industry. This sector has been the largest end-use sector of the nitrile butadiene elastic market globally. The other main sectors which are witnessing a significant escalation are the construction sector and the industrial and medical gloves manufacturing sector. The expected government expenditure on developing infrastructure boosts the nitrile butadiene rubber market in the near future. NBR is widely used in the automotive industry. NBR is used in treads and sidewalls of tires, as it provides good abrasion and low rolling resistance, which ensure high performance. Apart from these benefits, NBR is a low-cost alternative to natural rubber with improved properties. The growth of the NBR market is thus influenced by the automotive industry. The construction sector and the industrial and medical gloves manufacturing sector are the factors which drives the growth of the market. The expected government expenditure on developing infrastructure has also positively anticipated in propelling the growth of the global nitrile butadiene rubber (NBR) market. Increasing consumption from automotive and aeronautical industries is also driving the growth of the NBR market. Though NBR is economical and has compression set resistance and resilience, and high-water swell resistance, tear strength, and oil & grease resistance, there are substitutes with the same properties. The elastic materials such as thermoplastic elastomers (TPE), fluoroelastomers, and natural rubber are used in various applications for replacing NBR. For instance, NBR has limited resistance to ozonisation. Hence, in aeronautics applications, it can be replaced with TPE or fluoroelastomers. The fluoroelastomers can operate more efficiently in border temperature range as compared with NBR and have excellent resistance to oils, greases, aliphatic, aromatic, chlorinated hydrocarbons along with many organic solvents and chemicals. The availability of substitute materials and the absence of standards and protocols are the factors which restrain the growth of the NBR market. The restrictions on the use of phthalates in NBR formulations, environmental regulations on rubber manufacturing, and natural rubber cultivation are also hampering the growth of the market. The growing End-Use industries in APAC, advancements in technologies, and untapped potential in emerging markets offer favorable growth opportunities. The domestic manufacturing industry in the region has grown significantly in the past decade led by China, Japan, and South Korea, and it is expected to remain same in the future. The countries such as China and India are rapidly growing economies in the region and are attracting investments from domestic and foreign companies. The domestic NBR product manufacturers such as gloves, hoses, and belts are increasing their capacities to cope up with the increased domestic and providing new opportunities for the growth of NBR Market. The major challenge of NBR market is the volatile raw material prices. The market for NBR is very competitive and even small changes in the supply and demand balances are reflected in its prices. The oil sold by Saudi Arabia and Nigeria to the US are now competing for the Asian market, which resulted in producers being forced to drop the prices of crude oil. This price fall has affected the refining industries, as well as, the upstream oil & gas industry. This has affected the NBR market, as NBR is a by-product of crude oil. The fluctuating raw material prices is the major factor which challenges the growth of the NBR market. The frequently changing prices affect the market as the raw materials which are used for making the products are high in cost. So, the production rate goes high and thus, it challenges the growth of the NBR market.

NBR Market Segment Analysis:

Based on Application, The O-rings & seal segment is expected to grow with the highest CAGR of XX% during the forecast period. O-rings and seals are used in various end-use industries, like manufacturing, oil & gas, and automotive. The consumption of O-rings & seals in the automotive industry is directly related to vehicle manufacturing. NBR gloves are preferred over latex gloves, because of low chances of allergy and high puncture resistance. Due to the desirable properties of Nitrile O-rings which include low compression set, high tensile strength, and high abrasion and oil resistance are used in the manufacturing of O-rings & seals. O-rings & seals are made with different grades. NBR O-rings & seals are widely used in the manufacturing, oil & gas, and automotive industries which drives the growth of the NBR market. These are the factors which leads to the growth of the NBR market of the O-rings & seal segments. Based on End-User, the Automotive & Transportation segment held the largest market share in 2022 as it maintains performance in different weather and surface conditions while meeting the stringent safety norms of various countries. The growing demand for tires offering a smoother and quieter ride with better fuel efficiency has compelled manufacturers to use NBR. Nitrile Butadiene Rubber (NBR) is primarily considered the workhorse of the automotive industry. It is commonly used for fuel and oil handling hose, seals and grommets, and water handling applications. Furthermore, the NBRs hot oil resistance makes it a common material which is used for the automotive industrial applications, mostly useful for gaskets, oil seals, O-rings, engine hoses, and other parts. Furthermore, mining equipment manufacturers have traditionally been strong users of NBR -based elastomers to make seals and other parts that are used in pumps and valves driving its demand. The medical segment is expected to grow at a CAGR of xx% during the forecast period. Due to its cost-effectiveness, NBR is being increasingly used in the production of medical gloves. In the trade-off between quality and cost of materials used for gloves, NBR is preferred over other materials such as isoprene and latex. NBR gloves are puncture-resistant, and they also allow to identify any wear and tear easily when compared with latex gloves. It is also used in tubes, stoppers, and cushioning or supporting materials along with medical devices and equipment.

NBR Market Regional Insights:

The Asia-Pacific region is expected to witness significant growth at a CAGR of XX% through the forecast period. China is estimated to account for the largest share of the market in Asia-Pacific is expected to be the fastest-growing market for NBR during the forecast period. The increased demand for NBR from the automotive & transportation, medical, construction, and other industries in countries such as China and Japan lead to the market growth. According to OICA, vehicle manufacturing over the past three years in countries such as China, India, Japan, and Indonesia have increased because of increasing demand. This is projected to increase the consumption of NBR in the region. The objective of the report is to present a comprehensive analysis of the NBR Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the NBR Market dynamic, structure by analyzing the market segments and projecting the NBR Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the NBR Market make the report investor’s guide.

NBR Market Scope: Inquiry Before Buying

Global NBR Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2022-2029
Historical Data: 2018 to 2022 Market Size in 2022: US$ 1857.39 Mn.
Forecast Period 2022 to 2029 CAGR: 7.19% Market Size in 2029: US$ 3019.83 Mn.
Segments Covered: 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

NBR Market by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

NBR Market Key Players

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 Frequently Asked Questions: 1] What segments are covered in the Global NBR Market report? Ans. The segments covered in the Global NBR Market report are based on Type, End-User and Application. 2] Which region is expected to hold the highest share in the Global NBR Market? Ans. Asia-Pacific region is expected to hold the highest share in the Global NBR Market. 3] What is the market size of the Global NBR Market by 2029? Ans. The market size of the Global NBR Market by 2029 is expected to reach US$ 3019.83 Mn. 4] What is the forecast period for the Global NBR Market? Ans. The forecast period for the Global NBR Market is 2023-2029. 5] What was the market size of the Global NBR Market in 2022? Ans. The market size of the Global NBR Market in 2022 was valued at US$ 1857.39 Mn.
1. Global NBR Market: Research Methodology 2. Global NBR Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global NBR Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global NBR Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global NBR Market Segmentation 4.1. Global NBR Market, By Type (2023-2029) • Bimodal • Liquid • Carboxylate 4.2. Global NBR Market, By Application (2023-2029) • O-Rings & Seals • Hoses, Belts & Cables • Molded & Extruded Products • Adhesives & Sealants • Gloves • Others 4.3. Global NBR Market, By End Users (2023-2029) • Automotive & Transportation • Industrial • Oil & Gas • Mining & Metallurgy • Construction • Medical • Others 5. North America NBR Market (2023-2029) 5.1. North America NBR Market, By Type (2023-2029) • Bimodal • Liquid • Carboxylate 5.2. North America NBR Market, By Application (2023-2029) • O-Rings & Seals • Hoses, Belts & Cables • Molded & Extruded Products • Adhesives & Sealants • Gloves • Others 5.3. North America NBR Market, By End Users (2023-2029) • Automotive & Transportation • Industrial • Oil & Gas • Mining & Metallurgy • Construction • Medical • Others 5.4. North America NBR Market, by Country (2023-2029) • United States • Canada • Mexico 6. European NBR Market (2023-2029) 6.1. European NBR Market, By Type (2023-2029) 6.2. European NBR Market, By Application (2023-2029) 6.3. European NBR Market, By End Users (2023-2029) 6.4. European NBR Market, by Country (2023-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific NBR Market (2023-2029) 7.1. Asia Pacific NBR Market, By Type (2023-2029) 7.2. Asia Pacific NBR Market, By Application (2023-2029) 7.3. Asia Pacific NBR Market, By End Users (2023-2029) 7.4. Asia Pacific NBR Market, by Country (2023-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa NBR Market (2023-2029) 8.1. Middle East and Africa NBR Market, By Type (2023-2029) 8.2. Middle East and Africa NBR Market, By Application (2023-2029) 8.3. Middle East and Africa NBR Market, By End Users (2023-2029) 8.4. Middle East and Africa NBR Market, by Country (2023-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America NBR Market (2023-2029) 9.1. South America NBR Market, By Type (2023-2029) 9.2. South America NBR Market, By Application (2023-2029) 9.3. South America NBR Market, By End Users (2023-2029) 9.4. South America NBR Market, by Country (2023-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 LANXESS 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Sinopec 10.3. Kumho Petrochemical 10.4. TSRC Corporation 10.5. JSR Corporation 10.6. LG Chem 10.7. Versalis S.p.A 10.8. ZEON Corporation 10.9. SIBUR Holding 10.10. OMNOVA Solutions Inc. 10.11. Atlantic Gasket Corporation, 10.12. Apcotex Industries Limited 10.13. AirBoss of America Corp. 10.14. BASF SE, 10.15. Hanna Rubber Company 10.16. Versalis 10.17. PetroChina 10.18. Huangshan Hualan Technology Co. ltd 10.19. Dow 10.20. ARLANXEO 10.21. CNPC 10.22. Ningbo Shunze 10.23. Nantex 10.24. Nanjing Xinfeima Chemical
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