Hydrogenated Nitrile Butadiene Rubber Market - Forecast(2024 - 2030)
Hydrogenated Nitrile Butadiene Rubber Market Overview
Hydrogenated Nitrile Butadiene Rubber Market size is forecast to reach US$20.4
billion by 2026, after growing at a CAGR of 7.5% during 2021-2026. Globally,
the rising demand for hydrogenated nitrile butadiene rubber also known as
highly saturated nitrile (HSN), owing to its physical strength and preservation
of properties after long-term exposure to oil, heat, and chemicals, from end
use industries such as automotive, construction, oil and gas, and machinery
applications is estimated to drive the market growth. Of the various synthetic
rubbers used in the market, hydrogenated nitrile butadiene rubber is the most
commonly used in a variety of industries. Moreover, the increasing usage of
thermoplastic elastomers instead of hydrogenated nitrile butadiene rubber will
act as a substitute that will hamper the hydrogenated nitrile butadiene rubber
industry growth in the forecast era.
Impact of Covid-19
The emergence of coronavirus disease (COVID-19) and consequent lockdowns by governments in several countries has briefly halted the operation of major end-use industries. As a result, the hydrogenated nitrile butadiene rubber industry has gone through a downturn in the year 2020. Movement restrictions had a direct and immediate effect and, after the compulsory social divide has reduced, it is presumed that things will return to normal conditions.
Hydrogenated Nitrile Butadiene Rubber Market Report Coverage
The: “Hydrogenated Nitrile Butadiene
Rubber Market Report – Forecast (2021-2026)”, by IndustryARC,
covers an in-depth analysis of the following segments of the hydrogenated nitrile butadiene rubber market.
By Type: Latex, Solid, and
Others
By Application: Belts & Cables, Seals & O-rings, Hoses, Gaskets, Adhesives & Sealants, Foamed Products, Diaphragms, Accumulator bladors, Non-woven fabric, Films & Coating, Paper saturation, and Others
By End Use Industry: Automotive, Building and Construction, Oil & Gas, Aerospace and Defense, Machinery, Medical, Metallurgy and Mining, Chemical, and Others
By Geography: North America (U.S., Canada, and Mexico), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America),Asia Pacific (China, Japan, India, South Korea, ANZ, Indonesia, Taiwan, Malaysia, and Rest of Asia Pacific), Europe (U.K., Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), and RoW (Middle East and Africa)
Key Takeaways
- With the growing global competition, hydrogenated nitrile butadiene rubber (HNBR) or highly saturated nitrile (HSN) has evolved its eminence in the automotive industry.
- Rising shifts from nitrile butadiene rubber (NBR) to hydrogenated nitrile butadiene rubber (HNBR) have contributed to HNBR being one of the fast-growing raw materials in the manufacture of rubber articles.
- Increasing adoption of synthetic rubbers such as hydrogenated nitrile butadiene rubber owing to its low heat buildup, by major tire manufacturers has raised the market growth over the forecast period.
Hydrogenated Nitrile Butadiene Rubber Market Segment Analysis - By Type
Solid
hydrogenated nitrile butadiene rubber held the largest share in the
hydrogenated nitrile butadiene rubber market in 2020 and is expected to grow at
a CAGR of 6.9% during the forecast period. Due to its excellent resistance to
fuel and heat, it is suitable for use in various end use industries. Solid
hydrogenated nitrile butadiene rubber (HNBR)sees applications in the production
of grease-resistant automobile products such as hoses, wiper seals, pipes, and
static and rotary seals. It also lowers the price and average weight of the
automotive, which is an added advantage that promotes the growth of the market.
Thus, with the increasing demand for solid hydrogenated nitrile butadiene
rubber for several applications, the market is estimated to experience growth
in the forecast period.
Hydrogenated Nitrile Butadiene Rubber Market Segment Analysis - By Application
Seals &
O-rings held the largest share in the hydrogenated nitrile butadiene rubber
market in 2020 and is forecast to rise at a CAGR of 7.1%. Due to its excellent
cost-efficiency balance and use in highly demanding applications such as
automobile and industrial applications requiring high performance, the demand
for hydrogenated nitrile butadiene rubber (HNBR) for the manufacture of seals
and O-ring has rapidly increased its importance in recent years. The HNBR seals
& O-ring has recently been developed to meet higher temperatures than
standard NBR while retaining resistance to petroleum-based oils. The HNBR
O-ring provides a temperature range from -30°C to +150°C (-20°F to +302°F).
HNBR seals and o-rings are preferable for use with petroleum-based oils and
fuels, vegetable oils, aliphatic hydrocarbons, silicone greases and oils, water
and steam (up to 300ºF), ethylene glycol, and diluted acids, bases, and salt
solutions. Thus, the rising demand for hydrogenated nitrile butadiene rubber in
the production of seals & O-rings is expected to drive the market growth in
the forecast period.
Hydrogenated Nitrile Butadiene Rubber Market Segment Analysis - By End Use Industry
The automotive
sector held the largest share of more than 25% in the hydrogenated nitrile
butadiene rubber market in 2020. This is primarily due to the rising
consumption of HNBR or highly saturated nitrile (HSN) for producing belts, seals,
and hoses in the automotive industry. In addition, the various benefits
associated with the use of HNBR such as excellent durability of heat and
oxidation, coolants and oils, high mechanical strength, and superior resistance
to fuels, strengthen the automobile industry's acceptance of hydrogenated
nitrile butadiene rubber HNBR. Also, the
automotive industry is the largest customer of the hydrogenated nitrile
butadiene rubber market. The increasing use of products such as O-rings,
suspension parts, mountings, fan belts in automotive is estimated to drive the
hydrogenated nitrile butadiene rubber market growth in the predicted period.
Hydrogenated Nitrile Butadiene Rubber Market Segment Analysis - By Geography
The Asia Pacific
region held the largest share of more than 35% in the hydrogenated nitrile
butadiene rubber market in 2020. Globally, the demand for hydrogenated nitrile
butadiene rubber is dominated by the Asia-Pacific region due to the rising
automotive, oil and gas, and construction industries. The Asia Pacific constitutes
a major share of the global hydrogenated nitrile butadiene rubber market, due
to the easy availability of raw materials at competitive prices in the region.
The rapid growth of the automotive and oil and gas industry in China, India,
and South Korea is projected to propel the demand for hydrogenated nitrile
butadiene rubber shortly. According to the Organisation
Internationale des Constructeurs d'Automobiles (OICA),
the production of cars by 2020 gradually increased from 26,84,192 in the first
quarter to 1,32,21,849 in the third quarter, in China. Thus, the demand for the
hydrogenated nitrile butadiene rubber market is therefore anticipated to
increase in the forecast period because of the mentioned factors.
Figure:
Asia Pacific Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2020-2026
(US$ Billion)
Hydrogenated Nitrile Butadiene Rubber Market Drivers
Growing Demand for Hydrogenated Nitrile Butadiene Rubber from the Oil and Gas Sector
The common usage of hydrogenated nitrile butadiene rubber components in oil and gas field applications are in dynamic atmospheres; especially sealing appliances that are in relative motion when interacting with surfaces. Due to the excellent elasticity and resilience, hydrogenated nitrile butadiene rubber seals have widespread use as sealing components, such as hoses, gaskets, O-rings, and so forth, in the gas and oil industry. HNBR seals promise stronger resistance over standard nitrile and fluorocarbon when directly in contact with heat, aggressive fluids, and corrosive chemicals. Hydrogenated nitrile butadiene rubber (HNBR) has also been widely employed for applications in the oil and gas industry due to its heat aging, oil resistance, and low-temperature flexibility in industrial sealing for oil field processing and exploration. According to the India Brand Equity Foundation, India's oil refining capacity stood at 249.9 million metric tons (MMT) as of 1 October 2020, making it Asia's second-largest refiner. Private firms own about 35.3% of FY20's total refining capacity. With the growing oil and gas industry, the demand for hydrogenated nitrile butadiene rubber market is estimated to rise over the forecast period.
Increasing Government Assistance for the Manufacture of Rubber
Governments of a number of leading rubber-producing countries, such
as India, Thailand, and Indonesia, are providing economic assistance to rubber
manufacturers in the form of discounts, tax cuts, and customs duty exemptions
which is driving the market growth. Furthermore, according to the National
Rubber Policy 2019, the government of India plans to strategize towards the
meeting of the raw material requirement of domestic industry through domestic
production as far as possible. The Indian government is also keen on required
focus towards development of the entire rubber industry value chain from
upstream production to downstream manufacturing activities, and promote the
development of rubber product manufacturing sector and facilitate the export of
quality rubber products. Similarly, in Thailand, the government-assisted the
rubber industry by forming a free trade arrangement with rubber-importing
countries such as New Zealand and Australia. These actions derive from the
exports of rubber from these countries to various areas of the world and the
demand to increase the production of rubber. Thus, the rising government
assistance for the production of rubber is expected to drive the hydrogenated
nitrile butadiene rubber market growth during the forecast era.
Hydrogenated Nitrile Butadiene Rubber Market Challenges
Rising Demand for Alternatives Will Hamper The Market Growth
Thermoplastic
elastomers and liquid silicone rubber have similar properties and are
beneficial alternatives to synthetic or natural rubbers such as hydrogenated
nitrile butadiene rubber. The increasing
use of thermoplastic elastomers as a substitute in several applications in the
construction, footwear, automotive, and electronic industry will restrain the
hydrogenated nitrile butadiene rubber market growth. Also, from a processing
perspective, thermoplastic elastomers offer cost savings to processors and are
priced less than hydrogenated nitrile butadiene rubber which is attractive to
the customers. Thus, thermoplastic elastomers have successfully replaced
synthetic rubbers to a large extent and the discovery of newer applications of
thermoplastic elastomers could further create hurdles in the growth of the
hydrogenated nitrile butadiene rubber market.
Hydrogenated Nitrile Butadiene Rubber Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the hydrogenated nitrile butadiene rubber market. Major players in the hydrogenated nitrile butadiene rubber market are Elastomer Engineering Ltd., Polycomp, Zeon Chemicals, ARLANXEO, Rahco Rubber, Inc., Lianda Corporation, Ge Mao Rubber Industrial Co., Ltd. (GMORS), KACO GmbH + Co. KG, and Parker Hannifin among others.
Relevant Reports
Nitrile
Elastomers Market – Forecast (2021 - 2026)
Report Code: CMR 0818
Performance
Elastomers Market – Forecast (2021 - 2026)
Report Code: CMR 84841
For more Chemicals and Materials Market reports, please click here
LIST OF TABLES
1.Global Hydrogenated Nitrile Butadiene Rubber Market Analysis and Forecast, by End-use Industry Market 2023-2030 ($M)2.Global Competition Landscape Market 2023-2030 ($M)
2.1 Market Players-Competition Matrix Market 2023-2030 ($M) - Global Industry Research
2.1.1 Parker Hannifin Corporation Market 2023-2030 ($M)
2.1.2 ARLANXEO Market 2023-2030 ($M)
2.1.3 Zeon Chemicals L.P. Market 2023-2030 ($M)
2.1.4 KACO GmbH + Co. KG Market 2023-2030 ($M)
3.Global Hydrogenated Nitrile Butadiene Rubber Market Analysis and Forecast, by End-use Industry Market 2023-2030 (Volume/Units)
4.Global Competition Landscape Market 2023-2030 (Volume/Units)
4.1 Market Players-Competition Matrix Market 2023-2030 (Volume/Units) - Global Industry Research
4.1.1 Parker Hannifin Corporation Market 2023-2030 (Volume/Units)
4.1.2 ARLANXEO Market 2023-2030 (Volume/Units)
4.1.3 Zeon Chemicals L.P. Market 2023-2030 (Volume/Units)
4.1.4 KACO GmbH + Co. KG Market 2023-2030 (Volume/Units)
5.North America Hydrogenated Nitrile Butadiene Rubber Market Analysis and Forecast, by End-use Industry Market 2023-2030 ($M)
6.North America Competition Landscape Market 2023-2030 ($M)
6.1 Market Players-Competition Matrix Market 2023-2030 ($M) - Regional Industry Research
6.1.1 Parker Hannifin Corporation Market 2023-2030 ($M)
6.1.2 ARLANXEO Market 2023-2030 ($M)
6.1.3 Zeon Chemicals L.P. Market 2023-2030 ($M)
6.1.4 KACO GmbH + Co. KG Market 2023-2030 ($M)
7.South America Hydrogenated Nitrile Butadiene Rubber Market Analysis and Forecast, by End-use Industry Market 2023-2030 ($M)
8.South America Competition Landscape Market 2023-2030 ($M)
8.1 Market Players-Competition Matrix Market 2023-2030 ($M) - Regional Industry Research
8.1.1 Parker Hannifin Corporation Market 2023-2030 ($M)
8.1.2 ARLANXEO Market 2023-2030 ($M)
8.1.3 Zeon Chemicals L.P. Market 2023-2030 ($M)
8.1.4 KACO GmbH + Co. KG Market 2023-2030 ($M)
9.Europe Hydrogenated Nitrile Butadiene Rubber Market Analysis and Forecast, by End-use Industry Market 2023-2030 ($M)
10.Europe Competition Landscape Market 2023-2030 ($M)
10.1 Market Players-Competition Matrix Market 2023-2030 ($M) - Regional Industry Research
10.1.1 Parker Hannifin Corporation Market 2023-2030 ($M)
10.1.2 ARLANXEO Market 2023-2030 ($M)
10.1.3 Zeon Chemicals L.P. Market 2023-2030 ($M)
10.1.4 KACO GmbH + Co. KG Market 2023-2030 ($M)
11.APAC Hydrogenated Nitrile Butadiene Rubber Market Analysis and Forecast, by End-use Industry Market 2023-2030 ($M)
12.APAC Competition Landscape Market 2023-2030 ($M)
12.1 Market Players-Competition Matrix Market 2023-2030 ($M) - Regional Industry Research
12.1.1 Parker Hannifin Corporation Market 2023-2030 ($M)
12.1.2 ARLANXEO Market 2023-2030 ($M)
12.1.3 Zeon Chemicals L.P. Market 2023-2030 ($M)
12.1.4 KACO GmbH + Co. KG Market 2023-2030 ($M)
13.MENA Hydrogenated Nitrile Butadiene Rubber Market Analysis and Forecast, by End-use Industry Market 2023-2030 ($M)
14.MENA Competition Landscape Market 2023-2030 ($M)
14.1 Market Players-Competition Matrix Market 2023-2030 ($M) - Regional Industry Research
14.1.1 Parker Hannifin Corporation Market 2023-2030 ($M)
14.1.2 ARLANXEO Market 2023-2030 ($M)
14.1.3 Zeon Chemicals L.P. Market 2023-2030 ($M)
14.1.4 KACO GmbH + Co. KG Market 2023-2030 ($M)
LIST OF FIGURES
1.US Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)2.Canada Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
3.Mexico Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
4.Brazil Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
5.Argentina Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
6.Peru Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
7.Colombia Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
8.Chile Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
9.Rest of South America Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
10.UK Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
11.Germany Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
12.France Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
13.Italy Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
14.Spain Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
15.Rest of Europe Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
16.China Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
17.India Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
18.Japan Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
19.South Korea Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
20.South Africa Hydrogenated Nitrile Butadiene Rubber Market Revenue, 2023-2030 ($M)
21.North America Hydrogenated Nitrile Butadiene Rubber By Application
22.South America Hydrogenated Nitrile Butadiene Rubber By Application
23.Europe Hydrogenated Nitrile Butadiene Rubber By Application
24.APAC Hydrogenated Nitrile Butadiene Rubber By Application
25.MENA Hydrogenated Nitrile Butadiene Rubber By Application