Nitrile Butadiene Rubber (NBR) Market: Global Industry Analysis and Forecast Analysis (2024-2030)

Nitrile Butadiene Rubber (NBR) market is expected to reach US$ 2.60 Bn in 2030, with a CAGR of 7.4% for the period 2024-2030, because of the automotive and construction industries are demand for hose, belting, and cable, as well as O-rings and seals, throughout the forecast period.
Nitrile Butadiene Rubber (NBR) Market Introduction:
NBR stands for nitrile butadiene rubber, a group of unsaturated copolymers comprising butadiene (BD) and acrylonitrile (AN) (ACN). NBR has a number of characteristics, including excellent gas impermeability, wear resistance, heat resistance, and low temperature flexibility. Over a wide temperature range, NBR has high resistance to petroleum products such as gasoline, diesel oil, and other fuels. NBR is also known for its exceptional abrasion resistance, water resistance, alcohol resistance, and heat resistance. NBR is used in hose, belting, and cable (which account for 27% of NBR use), O-rings and seals (20%), latex applications (14%), moulded and extruded products (14 percent), and adhesives and sealants (14 percent) due to these qualities (10%). NBR powder is used as an impact modifier for PVC and ABS, among other things. Because of these applications, NBR is used in a variety of industries, including automotive (which accounts for half of the market), construction, manufacturing, pharmaceuticals, and oil & gas.To know about the Research Methodology :- Request Free Sample Report
Nitrile Butadiene Rubber (NBR) Market Dynamics:
The automotive and construction industries are expected to drive demand for hose, belting, and cable, as well as O-rings and seals, throughout the forecast period. Also, demand is expected to be hampered by the availability of replacements such as thermoplastic elastomers (TPE), fluoroelastomers, and natural rubber, as well as the fluctuating costs of NBR during the forecast period. During the forecast period, prospective capacity expansions, such as the proposed Petronas Chemicals/ LG Chem NBR plant with a capacity of 200 KT in Malaysia, are likely to provide chances for demand growth.

The copolymerization of butadiene with acrylonitrile produces nitrile butadiene rubber (NBR), often known as Buna-N or nitrile rubber. Kick panels, dashboards, brake pads, and other components made of nitrile butadiene rubber are utilized in the automotive and industrial industries.

The automobile industry has seen significant growth in the nitrile butadiene rubber market. Its resistance to minerals, alkali, oils, and acid, as well as its ability to withstand a wide range of temperatures, makes it ideal for usage in the automobile industry. The largest end-use segment of the global nitrile butadiene rubber market has been this one. Construction and the manufacturing of industrial and medical gloves are two additional important areas that are experiencing tremendous growth. Government spending on infrastructure development is expected to increase the nitrile butadiene rubber market in the future.

COVID-19 Impact on NBR Market:

• Because of the impact of COVID-19, demand for nitrile butadiene rubber has dropped dramatically because of statewide lockdowns and supply chain disruptions.
• During the pandemic, the construction and automobile industries were the hardest damaged, which had an influence on the NBR business.
• On the other hand, due to the continuing of production activity following the lockdowns, China's industrial sector has seen good demand growth.
Nitrile Butadiene Rubber (NBR) Market Trends:

Usage of NBR is increasing in the Asia Pacific

The use of NBR is increasing in the Asia Pacific, because of the rising construction activities and fast urbanization in the emerging countries like China and India. Moreover, with increased government investment, India's building sector has been growing fast. For example, the Indian government's "Housing for all by 2022" initiative is a game-changer for the sector.

Another prominent government project is the Smart Cities Mission, which aims to build more than 100 smart cities across the country in order to accomplish rapid urbanization. For instance, the smart cities mission has been allocated INR 6,450 crore in the 2021-22 budget, compared to INR 3,400 crore in the revised estimates for 2021-22.

In India, the automotive sector produced 3,394,446 vehicles (including passenger and commercial vehicles) in 2021, down from 4,524,366 in 2021, indicating a negative growth rate of approximately 25%. At the same time, new car sales fell by roughly 23% in 2021 compared to the previous year (2021). The automotive sector is already in a precarious position, and the epidemic is wreaking havoc. The government's policies, such as "Aatma Nirbhar Bharat" and "Make in India," are expected to strengthen the car industry.

China is one of the world's largest countries, with the construction sector outpacing almost all other industries in terms of growth. Over the next ten years, the Chinese government has unveiled vast building plans, including proposals for the relocation of 250 million people to new megacities. Hence, the above mention factors are contributing to the market growth for NBR throughout the estimated period.
Nitrile Butadiene Rubber (NBR) Market Segment Analysis:
On the basis of End-use Industry: The Nitrile Butadiene Rubber (NBR) market is sub-segmented into Automotive & Transportation, Industrial (Includes Machineries), Oil & Gas, Mining & Metallurgy, Construction, Medical, and Others (includes Cots & Aprons, Plastics).

The automobile industry was the largest consuming application in terms of revenue, accounting for 38.5% of the global market in 2023. Valves and precision diaphragms, as well as other machinery and equipment components to prevent fluid or gas loss and other industrial uses, are among the mechanical engineering applications of the product. In 2017, this application category had the second-highest demand.

Over the next few years, oil and gas is predicted to be one of the fastest-growing end-uses of NBR. Because of its excellent resistance to oils, fuels, and solvents, the product is widely used in sealing, moulding components, rubber-to-metal bonded components, tubing, and connection applications in the oil and gas industry.

NBR is used in the construction industry to treat building materials such as cables, hoses, and adhesives and sealants. Ceramic tiles, carpet laying, roofing & wall coverings, and countertop lamination all use nitrile-based construction adhesives because they have good bond strength, temperature stability, weather resilience, and chemical stability.

The industry's next major end-uses are medical and metallurgy and mining. Pharmaceutical, food, and cosmetics packaging are among the other applications. They're ideal for usage in the pharmaceutical and food processing sectors because they have high sealing capabilities, low gas and water permeability, great oil resistance, and a low level of migrating chemicals from polymers.
Nitrile Butadiene Rubber (NBR) Market Regional Insights:
In 2023, Asia Pacific held the greatest part of the entire NBR market volume, accounting for around 56%. In the coming years, rapid industrialization and mass production of automotive components and moulded and extruded polymer products in Asian countries such as China, India, and ASEAN countries is expected to drive NBR usage.

Moreover, increased government measures in major Asia Pacific countries to develop the automotive sector are expected to boost product demand. During the forecast period, rising production of passenger cars, commercial vehicles, and motorcycles is expected to boost nitrile rubber usage.

In Q3 2023, the demand prognosis in the Asia Pacific area showed an increase trend. In India, NBR market sentiment improved slightly, owing to a gradual increase in demand from downstream segments following the relaxation of shutdown restrictions. Apcotex Industry, a major NBR maker in India, has announced an 11-day maintenance outage at its Valia, Gujarat factory, which will begin on July 2nd. In September, the EXW-NBR (HNR 36 percent -43 percent) price in India was estimated to be USD 3643 per metric tonne. Buyers wanted additional material in the last two weeks of July, according to traders, due to an increase in industrial activity.

In the future, North America and Europe are expected to show a more stable growth curve. Increased worker knowledge of health and safety, as well as strict government laws on occupational dangers, are expected to encourage the use of NBR industrial gloves and maintain steady growth in these regions.The objective of the report is to present a comprehensive analysis of the global Nitrile Butadiene Rubber (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 has 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 report also helps in understanding the Nitrile Butadiene Rubber (NBR) dynamics, structure by analyzing the market segments and projecting the Nitrile Butadiene Rubber (NBR) size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Nitrile Butadiene Rubber (NBR) market make the report investor’s guide.
Nitrile Butadiene Rubber (NBR) Market Scope: Inquire before buying



Nitrile Butadiene Rubber (NBR) Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 1.58 Bn.


Forecast Period 2024 to 2030 CAGR:
7.4%
Market Size in 2030:
US $ 2.60 Bn.


 Segments Covered:
by Product
Bimodal
Liquid
Carboxylated


by Application
O-rings & Seals
Hoses, Belts & Cables
Molded & extruded products
Adhesives & Sealants
Gloves (Includes Industrial and Medical)
Others


by End-Use industry
Automotive & Transportation
I ndustrial (Includes Machineries)
Oil & Gas
Mining & Metallurgy
Construction
Medical
Others



Nitrile Butadiene Rubber (NBR) Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Nitrile Butadiene Rubber (NBR) Market Key Players are:
1. ARLANXEO
2. KUMHO PETROCHEMICAL.
3. JSR Corporation.
4. LG Chem
5. Versalis spa
6. ZEON CORPORATION
7. SIBUR International GmbH
8. OMNOVA Solutions Inc.
9. PetroChina Company Limited
10. AirBoss of America Corp.
11. Atlantic Gasket Corporation
12. Precision Associates, Inc.
13. Hanna Rubber Company
14. Huangshan hualan technology Co.,ltd.
15. Dow
16. BASF SE

Frequently Asked Questions:

1. Which region has the largest share in Nitrile Butadiene Rubber (NBR) Market?
Ans: The Asia Pacific held the largest share in 2023.

2. What is the growth rate of the Nitrile Butadiene Rubber (NBR) Market?
Ans: The Nitrile Butadiene Rubber (NBR) Market is growing at a CAGR of 7.4% during the forecasting period 2024-2030

3. What segments are covered in the Nitrile Butadiene Rubber (NBR) market?
Ans: Nitrile Butadiene Rubber (NBR) Market is segmented into Product Type, Application, End-Use industry, and Region.

4. Who are the key players in the Nitrile Butadiene Rubber (NBR) market?
Ans: The important key players in the Nitrile Butadiene Rubber (NBR) Market are – ARLANXEO, KUMHO PETROCHEMICAL., JSR Corporation., LG Chem, Versalis spa, ZEON CORPORATION, SIBUR International GmbH, OMNOVA Solutions Inc., PetroChina Company Limited, AirBoss of America Corp., Atlantic Gasket Corporation, Precision Associates, Inc., Hanna Rubber Company, Huangshan hualan technology Co., ltd, Dow, BASF SE, NANTEX Industry Co., Ltd., Polimeri Europa, among other

5. What is the study period of this market?
Ans: The Nitrile Butadiene Rubber (NBR) Market is studied from 2023 to 2030