Nitrile Butadiene Rubber Market Size, Growth Opportunities and Forecast to 2030
Nitrile Butadiene Rubber Industry Overview
The global nitrile butadiene rubber market size was valued at USD 2.1 billion in 2021. It is expected to expand at a CAGR of 5.2% during the forecast period.
The automotive end-use segment is expected to have the highest penetration among all the segments in the global nitrile butadiene rubber market. Increasing utilization of nitrile butadiene rubber products such as seals & O-rings, hoses, belts, molded products, cables, and others in automobiles is significantly propelling market growth in the automotive segment. The rising trend of electric vehicles and technological advancement in the field of driverless cars are expected to fuel the growth of the automotive industry in the coming years, which, in turn, is likely to create demand for nitrile butadiene rubber.
Gather more insights about the market drivers, restrains and growth of the Global Nitrile Butadiene Rubber Market
The global per capita energy requirement is gradually increasing over the years, which is expected to portray growth opportunities for the U.S. oil & gas industry. In addition, increasing shale gas production in the country is projected to fuel the growth of the oil & gas industry. Factors such as tax credits, low-interest rates, R&D programs for natural gas, and focus on reducing the dependency on foreign oil & gas imports are propelling shale gas production in the country. All these aforementioned factors are expected to drive the oil & gas industry in the U.S., which, in turn, is projected to create significant demand for nitrile butadiene rubber in the country in the forecast period.
However, the negative impact of COVID-19 outbreaks on the growth of various industries such as oil & gas, automotive, construction, and others due to slowdown in manufacturing & production activities, restrictions in supply & transport, and decline in demand from end-use consumers is anticipated to hamper the market growth. Moreover, rising COVID-19 positive cases in the country is expected to create significant demand for nitrile butadiene rubber gloves.
Browse through Grand View Research’s Plastics, Polymers & Resins Industry Research Reports.
- Hybrid Adhesives & Sealants Market – The global hybrid adhesives & sealants market size was estimated at USD 11.86 billion in 2017 and is projected to witness a CAGR of 8.3% from 2017 to 2025. Growing preference for hybrid resins in end-use industries, such as building and construction and automotive is expected to drive the global market.
- Automotive Adhesives And Sealants Market – The global automotive adhesives & sealants market size was estimated at a combined total of 1,353.4 kilotons in 2016. Stringent environmental regulations formulated by authorities in order to reduce carbon emissions have driven the demand for lightweight bonding materials in place of conventional heavy metal fasteners.
Nitrile Butadiene Rubber Market Segmentation
Grand View Research has segmented the nitrile butadiene rubber market based on product, end-use, and region:
- Nitrile Butadiene Rubber Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
- Molded & Extruded Products
- Seals & O-rings
- Rubber Compounds
- Adhesives & Sealants
- Foamed Products
- Nitrile Butadiene Rubber End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
- Mechanical Engineering
- Oil & Gas
- Metallurgy & Mining
- Nitrile Butadiene Rubber Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
- North America
- Asia Pacific
- Central & South America
- Middle East and Africa
Market Share Insights
- Feburary 2022: Zeon Corporation accomplished an agreement wherein its subsidiary would acquire Aurora Microplates, microplates selling company, used in biochemical analysis. Through this agreement, Zeon will impel its business development activities in healthcare and life sciences.
- July 2021: An engineering and technological platform for sustainability, that is Versalis and Saipem signed an agreement to encourage PROESA, Versalis’ proprietary technology for the production of sustainable bioethanol and chemicals from lignocellulosic biomass, on a global scale.
Key Companies profiled:
Some prominent players in the global nitrile butadiene rubber market include
- Zeon Chemicals L.P.
- PetroChina Company Limited
- Dynasol Group
- Synthos S.A.
- KUMHO PETROCHEMICAL
- LG Chem
- Versalis S.p.A.
- JSR Corporation
- AirBoss of America
- Atlantic Gasket Corporation
- Precision Associates Inc.
- Anqing Hualan Technology Co., Ltd.
- NANTEX Industry Co., Ltd.
- Apcotex Industries Limited
- Chang Rubber
- Hanna Rubber Company
Order a free sample PDF of the Nitrile Butadiene Rubber Market Intelligence Study, published by Grand View Research.
Nitrile Butadiene Rubber Industry Overview The global nitrile butadiene rubber market size was valued at USD 2.1 billion in 2021. It is expected to expand at a CAGR of 5.2% during the forecast period. The automotive end-use segment is expected to have the highest penetration among all the segments in the global nitrile butadiene rubber market. Increasing…
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