Global nitrile butadiene rubber demand is projected to grow at a healthy CAGR of 3.12% during the forecast period. Nitrile butadiene rubber (NBR) is a family of unsaturated copolymers of butadiene (BD) and acrylonitrile (ACN). NBR has many properties including high gas impermeability, resistance to wear and tear, thermal resistance, low temperature flexibility. NBR shows high resistance to petroleum products such as gasoline, diesel oil and other fuels over a wide temperature range. NBR is also noted for high strength and excellent resistance to abrasion, water, alcohols and heat. Due to these properties, NBR find application in hose, belting and cable which accounts for 27% of NBR consumption, o-rings and seals (20%), latex applications (14%), molded and extruded products (14%), adhesives and sealants (10%). Other uses of NBR include the use of NBR powder as impact modifier for PVC and ABS. due to these applications there are several end use industries for NBR which include automotive which accounts for 50% of the market, construction, machinery, pharmaceuticals, oil and gas. Growing demand for hose, belting and cable, o-rings and seals from the automotive and construction sector is expected to drive the demand of NBR during the forecast period. Moreover, the availability of substitutes including thermoplastic elastomers (TPE), fluoroelastomers, and natural rubber coupled with the fluctuating prices of NBR is expected to hinder the demand during the forecast period. Upcoming capacity expansions including the upcoming Petronas Chemicals/ LG Chem NBR plant with a capacity of 200 KT in Malaysia is expected to provide opportunities for demand growth during the forecast period.
Owing to the impact of COVID-19, nitrile butadiene rubber demand has declined drastically due to nationwide lockdowns and subsequent disruptions in supply chains. Construction and automotive sectors were the most severely hit sectors during the pandemic which had an impact on NBR industry. However overall good demand growth has been observed in China from the manufacturing sector due to continuation of production activities after the lockdowns.
Region wise, Asia Pacific region holds the major share of global demand for nitrile butadiene rubber due to growing demand for constriction and automotive sector. With China being the hub of automotive sector in the Asia Pacific, many manufacturing companies have set up manufacturing plants in China for nitrile rubber thereby increasing the overall capacity in Asia Pacific. Increasing population and per capita income in emerging economies is another factor propelling demand growth for nitrile butadiene rubber in Asia Pacific.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
Objective of the Study:
•To assess the demand-supply scenario of nitrile butadiene rubber which covers production, demand and supply of nitrile butadiene rubber market globally.
•To analyse and forecast the market size of nitrile butadiene rubber .
•To classify and forecast global nitrile butadiene rubber market based on technology, end-use and regional distribution.
•To identify drivers and challenges for global nitrile butadiene rubber market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global nitrile butadiene rubber market.
•To identify and analyse the profile of leading players involved in the manufacturing of nitrile butadiene rubber.
Major players for nitrile butadiene rubber globally include Lanxess, Sinopec, Kumho Petrochemical, TSRC Corporation, JSR Corporation, LG Chem, Versalis S.p.A, ZEON Corporation, SIBUR Holding, and OMNOVA Solutions Inc., and Others.
To extract data for global nitrile butadiene rubber market, primary research surveys were conducted with nitrile butadiene rubber manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global nitrile butadiene rubber market over the coming years.
ChemAnalyst calculated nitrile butadiene rubber demand globally by analyzing the historical data and demand forecast which was carried out considering imported nitrile butadiene rubber, prices, materials used for production of nitrile butadiene rubber . ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• nitrile butadiene rubber manufacturers and other stakeholders
•Organizations, forums and alliances related to nitrile butadiene rubber distribution
•Government bodies such as regulating authorities and policy makers
•Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as nitrile butadiene rubber manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
In this report, global nitrile butadiene rubber market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, by End Use
Construction, Automotive, Machinery, Oil and Gas, Medical.
Market, by Application
Hose, Belting and Cable, O-Rings and Seals, Latex Applications, Molded and Extruded Products, Adhesives and Sealants
Market, by Sales Channel
Direct Company Sale, Direct Import, Distributors & Traders, Retailers
Market, by Region
North America, APAC, Europe, MEA, South America
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