Nitrile Butadiene Rubber Market - Forecast(2024 - 2030)
Nitrile Butadiene Rubber Market Overview
Nitrile Butadiene Rubber Market size is estimated to grow at a
CAGR of 4.8% during
COVID-19 Impact
During the COVID-19 Pandemic, many
industries had suffered a tumultuous time, and it was no different for the
Nitrile Butadiene Rubber Market. Many governments across the globe implemented
lockdown regulations and factories & production facilities in many sectors
came to a halt. The supply chain was greatly disrupted as many businesses
followed the lockdown protocols. Some of the primary end-users of nitrile
butadiene rubber are the automotive and aerospace industries. According to the Organisation
Internationale des Constructeurs d’Automobiles (OICA), the production of
passenger vehicles decreased by 16.9% from 2019 to 2020. According to the International
Air Transport Association (IATA), the demand for passenger air travel fell by
65% from 2019 to 2020 with international travel decreasing by 75.6% since 2019.
However, the economy is now recovering as many people are getting vaccinated
and lockdown procedures are being lifted globally. Due, to this the Aerospace
Industry is projected to recover. There was a 13.1% growth in capacity tonne
kilometre (CTK) for global cargo transport in airlines in 2021. As such, the
Nitrile Butadiene Rubber Market is also expected to grow within the forecast
period
Nitrile Butadiene Rubber Market Report Coverage
The report: “Nitrile
Butadiene Rubber Market – Forecast (2022-2027)”, by IndustryARC, covers an
in-depth analysis of the following segments of the Nitrile Butadiene Rubber
Industry.
By Type: Low Acrylonitrile, Medium Acrylonitrile, Medium-high Acrylonitrile, High
Acrylonitrile, Others.
By Application: Seals & O-rings, Hoses, Rollers, Industrial Gaskets,
Conveyor Belts, Gloves, Others.
By End Use Industry: Automotive, Industrial, Oil & Gas, Medical, Building
& Construction, Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany,
France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe),
Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand,
Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil,
Argentina, Colombia, Chile, and Rest of South America), and Rest of the World
(Middle East and Africa).
Key Takeaways
- The Asia-Pacific region will dominate
the Nitrile Butadiene Rubber Market within the forecast period of
2022-2027. - Seals & O-rings are the most common application of nitrile butadiene rubber as it is virtually used in every industry and sector to provide resistance and stability.
- The growth in the Automotive sector
and the Aerospace & Defense sector will drive the Nitrile Butadiene Rubber
Market within the forecast period of
2022-2027.
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Nitrile Butadiene Rubber Market Analysis – By Application
Seals & O-rings hold the largest share of 38% by
application in the Nitrile Butadiene Rubber Market within the forecast period
Nitrile Butadiene Rubber Market Analysis – By End-Use Industry
The Automotive sector holds the largest
share of 40% by end-use industry in the Nitrile Butadiene Rubber Market within
the forecast period of
Nitrile Butadiene Rubber Market Analysis – By Geography
Nitrile Butadiene Rubber Market Drivers
The growth of the Automotive Industry and the Aerospace & Defense Industry:
One
of the key drivers for the Nitrile Butadiene Rubber Market is the growth and
the increase in demand for the Automotive and Aerospace industries. According
to the Organisation Internationale des Cosntructeurs d’Automobiles (OICA), the
total production of vehicles increased to 57.3 million in 2021 which was a 9.1%
increase from the production values of 2020. According to the Boeing Commercial Market Outlook
Nitrile Butadiene Rubber Market Challenges
Stringent Regulations that limit the production of Rubber:
Many different regulations are put in
place around the world to mitigate the manufacturing process of rubber as it
can cause various environmental pollutions. For example, the National Emission
Standards for Hazardous Air Pollutants in the United States is put in place to
regulate the production of rubber to lower the emission of hazardous air
pollutants. This proves to be a challenge for the growth of the Nitrile Butadiene
Rubber market and can be a hindrance within the forecast period of
Nitrile Butadiene Rubber Industry Outlook
Technology launches, acquisitions, and R&D activities are
key strategies adopted by players in the market. Nitrile Butadiene Rubber top 10 companies include:
- ARLANXEO
- Kumho
Petrochemical Co., Ltd.
- TSRC
Corporation
- Sinopec
- JSR
CORPORATION
- LG
Chem
- ZEON
CORPORATION
- SIBUR
- Versailles
S.p.A
- OMNOVA Solutions Inc.
Recent Developments
- On December 28, 2020, SIBUR Holding, a leading petrochemicals company from Russia, and Sinopec, China’s leading energy and chemical company, had set up a joint venture at the Amur Gas Chemical Complex with SIBUR holding 60% of the share and Sinopec holding 40%. This increased the NBR production of both companies and helped expand their reach globally as well.
Relevant Reports
Specialty Polymers Market – Forecast (2022 - 2027)
Report Code: CMR 0065
Rubber Processing Chemicals (Additives) Market –
Forecast (2022 - 2027)
Report Code: CMR 0168
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