Nitrile Butadiene Rubber Industry Overview
The global nitrile butadiene rubber (NBR) market is anticipated to reach USD 3.2 billion at a CAGR of 5.2% from 2022 to 2030 according to a new study by Grand View Research, Inc. The global market is anticipated to be driven by the increasing demand from the automotive industry. NBR is extensively used in the automotive industry manufacturing hoses, cables & belting, O-rings & seals, and other molded & extruded products.
Nitrile butadiene rubber products, such as hoses, oil handling seals, drill bit seals, and self-sealing fuel tanks, molded shapes, and others are widely utilized in the oil & gas industry. Properties such as excellent oil, fuel, grease resistance, heat resistance, and abrasion resistance are significantly propelling the demand for nitrile butadiene rubber in the oil & gas industry.
Nitrile Butadiene Rubber Market Segmentation
Grand View Research has segmented the nitrile butadiene rubber market based on product, end-use, and region:
Based on the Product Insights, the market is segmented into Hoses, Belts, Cables, Molded & Extruded Products, Seals & O-rings, Rubber Compounds, Adhesives & Sealants, Gloves, Foamed Products, and Others
- Seals & O-rings product type segment accounted for the largest revenue share of over 19% in 2021.
- The increasing End-use scope of nitrile butadiene rubber in the automotive sector, including hoses and other molded products, is expected to fuel the market growth.
- Furthermore, increasing efforts by manufacturers to reduce the friction of internal automotive parts are projected to boost the growth of the NBR market in the forecast period.
- Rising industrial development activities and increasing urbanization and infrastructure development projects, especially in developing countries, are expected to create significant demand for nitrile butadiene rubber over the forecast period.
Based on the End-use Insights, the market is segmented into Automotive, Mechanical Engineering, Oil & Gas, Metallurgy & Mining, Construction, Medical, and Others
- The automotive end-use segment accounted for the largest revenue share of over 38% in 2021 and this trend is projected to continue in the forecast period.
- Rising environmental concerns, coupled with government support in terms of subsidies such as federal and state tax credits to promote the production and consumption of electric vehicles, are anticipated to fuel the growth of the automobile sector, which, in turn, is further anticipated to generate substantial demand for nitrile butadiene rubber.
- Advancements in technology have increased the demand for machinery to reduce labor work and increase efficiency across every industry, hence propelling the demand for NBR across mechanical engineering during the forecast period.
- Rising utilization of gas in energy mixes and growing shale gas production are expected to fuel the growth of the oil & gas industry over the forecast period.
Nitrile Butadiene Rubber Regional Outlook
- North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The global market is highly fragmented with the presence of a large unorganized sector, particularly in the Asia Pacific and Latin America. Companies, particularly hailing from Asia Pacific have been constantly looking for significant capacity additions over the past few years to take advantage of operational excellence and achieve economies of scale. A diverse product portfolio and differentiation make the market competitive in terms of price and distribution channels.
Some prominent players in the global Nitrile Butadiene Rubber market include:
- 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
Order a free sample PDF of the Nitrile Butadiene Rubber Market Intelligence Study, published by Grand View Research.
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