Nitrile butadiene Rubber Market Research Report- Forecast to 2030

Nitrile butadiene Rubber Market research report: by product type (Hoses, Belts, Cables, Molded Seals & O-rings, Gloves and Others), and by end-user industry (Automotive, Oil & Gas, Mining, Construction, Medical and Others) – Forecast till 2030

ID: MRFR/CnM/3899-HCR | February 2021 | Region: Global | 139 pages

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Nitrile butadiene Rubber Market overview:


Nitrile butadiene Rubber Market is expected to surpass the market value of over USD 2.9 billion by the year 2028 while registering a CAGR of 4.4% during the forecast period.


The Nitrile Butadiene rubbers are unlike natural rubber materials, they contain higher acrylonitrile content that makes the tuber resist abrasion and oil. The structural attributes and their performance in the industry compared to the existing polymers have helped the manufacturing industries in producing industrial goods. Some of the leading end-user industries such as the Oil and gas industry, automotive industry are considered as the key contributors of the Nitrile Butadiene rubbers market growth. The potential properties such as higher tensile strength, elongation, process ability, oil resistance, and significant others are considered as the major drivers of Nitrile Butadiene rubbers market growth. 


 


The significant applications such as medical gloves, rubber products, and automotive components made from Nitrile Butadiene rubbers are increasing the overall growth of the Nitrile Butadiene rubbers industry. On the other hand, the increasing number of industrial verticals across the globe is also presenting a lucrative opportunity for the Nitrile Butadiene rubbers market growth. The machinery in the manufacturing industries includes seals, valves, diaphragms, and significant other components to prevent the leakage of gases and liquid such factors have augmented the growth of the Nitrile Butadiene rubbers industry.


 


COVID 19 Analysis:


 


Medical products and supplies have been gaining demand increasingly during the COVID 19 pandemic. Especially to prevent spreading the virus the latex gloves used for medical purposes have significantly increased the overall growth of the Nitrile Butadiene rubbers industry. Similarly, the restriction for movement from the government has also increased the e-commerce trend. A large population preferred shopping online. Therefore the sales of commercial vehicles due to the growth of online marketing have fuelled the Nitrile Butadiene rubbers market growth.


On the other hand, the demand for the automotive industry has gone down during the pandemic, therefore the demand for automotive products that are made out of Nitrile Butadiene rubbers has also decreased. Therefore, the growth of the Nitrile Butadiene rubbers industry has experienced a slight growth during the pandemic.


 


 Market dynamics:


 


 Market drivers:


 


The increasing investment in the automotive industry has increased the demand for key automotive components such as engines, doors, batteries, and significant others. The pumps, cylinders, hydraulic motors used in the vehicles also utilize the seals and O-Rings for efficient operation. Such factors are augmenting the overall growth of the Nitrile Butadiene rubbers industry.


 


The increasing demand in the manufacturing verticals has increased the demand for conveyor belts. The transmission belts or conveyor belts are expected to be built with supreme quality and resistance; they are expected to be built with the material that is capable of withstanding abrasion and possess higher tensile strength. Therefore the manufacturers of the conveyor belts are manufactured with the Nitrile Butadiene rubbers and they are utilized in production-intensive industries such as automotive, mining, food processing, and significant others.


 


 Market opportunities:


 


The growth of the automotive industry is expected to boost the overall growth of the Nitrile Butadiene rubbers industry. The Nitrile Butadiene rubbers are utilized in varied automotive components. For instance, the demand for electric vehicles has increased significantly in recent years due to fuel consumption. Large seals are required to restrict the emission and control the operation as well. Therefore the batteries of the electric vehicles are sealed with Nitrile Butadiene rubbers. Such factors are expected to promote the Nitrile Butadiene rubbers market growth during the forecast period.


 


The manufacturing costs and the costs required for the raw materials for the Nitrile Butadiene rubbers industry are also comparatively lower. Therefore they are intensively utilized for the manufacturing industries over natural rubbers. Moreover, the developing countries are also increasingly investing in the industries such as construction, food and beverage, medical, construction, aeronautics, and significant others. Such factors are also presenting favorable conditions for the Nitrile Butadiene rubbers market growth.


 


 Market restraints:


 


The presence of substitutes in the industry and the presence of duplicate products in the market are considered as the major restraints of Nitrile Butadiene rubber's market growth. These substitutes include elastic materials like thermoplastic elastomers and fluoroelastomers. They are also exhibiting similar characteristics and are available in abundance. Such factors are considered as the major restraint of Nitrile Butadiene rubber's market growth.


 


The requirement of the crucial characteristic, Ozonization for the applications in the aerospace industry is also restricting the Nitrile Butadiene rubbers market growth. The Nitrile Butadiene rubbers don’t exhibit ozonization and therefore they are replaced with the TPE in recent times.


 


Market challenges:


 


The changing price of the raw materials used for the manufacturing of Nitrile Butadiene rubbers and the competitive atmosphere of the Nitrile Butadiene rubbers market is considered as the major challenge for the Nitrile Butadiene rubbers market growth.


 


The changes in the supply and demand disruptions and the changing price of crude oil and the decline in the refining industries are some of the factors that are expected to affect the Nitrile Butadiene rubbers market growth.


 


Cumulative growth analysis:


 


The market value of the Nitrile Butadiene rubbers industry was at USD 2.10 billion in the year 2020 and it is expected to surpass the market value of over USD 2.9 billion by the year 2028 while registering a CAGR of 4.4% during the forecast period. The market growth of the Nitrile Butadiene rubbers industry is influenced by the growing demand of the oil and gas, automotive, industrial, and e-commerce industry. The growing demand for the consumer electronics, electrical industries for the production of O-rings, seals, cable gaskets, and others are also driving the overall growth of the Nitrile Butadiene rubbers industry. The potential characteristics of Nitrile Butadiene rubbers such as higher tensile strength, oil resistance, and affordability are propelling the potential manufacturers to adopt Nitrile Butadiene rubbers in their industries.


 


The utilization of the seals and O-rings were significantly dominating in recent years and held about 18% growth in the year 2020 and is expected to continue during the forecast period. The growth of the automotive industry is also expected to support the growth of the Nitrile Butadiene rubbers industry.


 


 Value chain analysis:


 


The primary utilization of the Nitrile Butadiene rubbers is for the transmission belts, which are utilized to transport goods and articles in them. The transmission belts or the conveyor belts are expected to possess higher tensile strength and resistance to abrasion, and mechanical strength. Therefore the increasing industrialization and urbanization are also presenting lucrative opportunities for Nitrile Butadiene rubbers market growth during the forecast period. 


Similarly, domestic production is also increasing. The demand for domestic things such as gloves, hoses, belts, and others are growing in demand and requires intensive production. Therefore the key manufacturing facilities are expanding the facilities as well to increase their production capacity as well. The market value of the rubber gloves had reached over USD 287 billion in the year 2020 and it is expected to grow at a steady rate. 


 


Segment overview:


 


Based on Application:


 



  • O-Rings and Seals

  • Hoses, belts, and cables

  • Molded and extruded products

  • Adhesives and sealants

  • Gloves

  • Others


 


Based on End-user industry:


 



  • Automotive and transportation

  • Industrial

  • Oil and gas

  • Mining and metallurgy

  • Construction

  • Medical

  • Others


 


Based on type:


 



  • Bimodal

  • Liquid

  • Carboxylated




The Global Nitrile butadiene rubber Market Share, by Application


 Nitrile butadiene rubber Market


Source: MRFR analysis


 Regional analysis:


 


In the year 2020, the Asia-pacific region was holding the highest market share in the Nitrile Butadiene rubbers industry, with a CAGR of over 55%. The Asia-pacific region possesses several developing industries and varied industrial verticals. The region is known for the bulk production of polymer products, automotive components, and significant others. For instance, India had recently declared their investment of nearly USD 3.5 billion for the manufacturing of fuel-cell and battery-electric vehicles. The presence of other effective incentive programs is driving the Nitrile Butadiene rubbers market growth. 


 


On the other hand, Europe due to the presence of several medical industries and chemical manufacturing industries has presented lucrative opportunities for the Nitrile Butadiene rubbers market growth. The mining and oil and gas excavation-related operations also include Nitrile Butadiene rubbers-based products as the key components. Therefore the countries involved in the mining and other operations have increased the overall growth of the Nitrile Butadiene rubbers industry in recent years.


 


Competitive landscape:


 



  • ARLANXEO

  • Zeon Chemicals L.P.

  • NITRIFLEX

  • SIBUR

  • PetroChina Company Limited

  • Dynasol Group

  • Synthos S.A.

  • KUMHO PETROCHEMICAL

  • LG Chem

  • Versalis S.p.A.

  • JSR Corporation

  • AirBoss of America


 


 Recent developments:


 


In the year 2021, one of the leading market players, Airboss of America had joined hands with Ace elastomer and declared as the leading market player in the region for specialty compounding and had reached out to a vast population of consumers.


 


In the year 2019, one of the leading market players, SIBUR had acquired Sinope had helped in setting up the nitrile rubber joint venture. The setup had helped in increasing the overall production.


 


 Report overview:


 


 This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


 


 Segmentation Table:


 


Based on Application:


 



  • O-Rings and Seals

  • Hoses, belts, and cables

  • Molded and extruded products

  • Adhesives and sealants

  • Gloves

  • Others


 


Based on End-user industry:


 



  • Automotive and transportation

  • Industrial

  • Oil and gas

  • Mining and metallurgy

  • Construction

  • Medical

  • Others


 


Based on type:


 



  • Bimodal

  • Liquid

  • Carboxylated



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant value
  CAGR   2020–2030: 4.70% CAGR
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product Type, End-Use Industry and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Lanxess AG (Germany), Kumho Petrochemical Co.(South Korea), PetroChina (China), Synthos S.A.(Poland), Zeon Chemicals (U.S.), Sibur Holdings (Russia), Versalis (Italy), JSR Corporation (Japan), Omnova Solutions (U.S.), ARLANXEO (Germany)
  Key Market Opportunities   The growing consumption of the product in sealing, tubing, molding compounds due to high resistance of nitrate butadiene rubber to solvents
  Key Market Drivers   Growing demand from the oil and gas industry


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Frequently Asked Questions (FAQ) :

The market value of the Nitrile Butadiene rubbers industry was at USD 2.10 billion in the year 2020 and it is expected to surpass the market value of over USD 2.9 billion by the year 2028 while registering a CAGR of 4.4% during the forecast period.

Leading end uses of nitrile butadiene rubber include oil and gas, automotive, construction, medical, and others.

Growing demand from the oil and gas industry is the major driver for the nitrile butadiene rubber market.

Asia Pacific holds the largest share in the nitrile butadiene rubber market due to the growing automotive industry in the region.

Leading players in the market include Lanxess, Kumho, and Zeon Chemicals, among others.

• Automotive and transportation • Industrial • Oil and gas • Mining and metallurgy • Construction • Medical