Nitrile Butadiene Rubber Market - Forecast(2023 - 2028)

Nitrile Butadiene Rubber Market Overview

Nitrile Butadiene Rubber Market size is estimated to grow at a CAGR of 4.8% during 2022-2027 and is valued at USD $ 2.91 billion in the year 2027. Nitrile butadiene rubber (NBR), also known as Acrylonitrile butadiene rubber, is a copolymer of two monomers, acrylonitrile (ACN), and butadiene. The yielded polymer latex is coagulated using calcium nitrate, aluminium nitrate, and other coagulating agents, to obtain the nitrile butadiene rubber. It is the most commonly used elastomer in seals and the industrial sector. The primary reason for this is its excellent resistance to hydrocarbon oils, unlike natural rubber. A common branch of NBR is carboxylated nitrile butadiene rubber (XNBR), where carboxylic acid groups are introduced to NBR.

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 2022-2027.

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 2022-2027. O-rings are mechanical seals in the shape of a torus that is used for static seal applications. O-ring seals are used in diverse areas of applications, from tap fittings to air-conditioning systems to car engines. They are widely demanded due to their resistance to ozone, swelling, and high temperatures. The increasing demand for industrial manufacturing has also led to an increase in demand for seals and O-rings. According to the United Nations Industrial Development Organization (UNIDO), the manufacturing output of North America increased by 5.9% year-on-year in the third quarter of 2021 and there was an increase of 6.3% year-on-year in Asia Pacific as well. Other applications of nitrile butadiene rubber are hoses, rollers, and industrial gaskets, which are primarily used in the automotive and aerospace industries as well as gloves that are used in the medical industry.

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 2022-2027. Nitrile butadiene is always in high demand in the automotive industry because it provides good mechanical properties along with oil, fuel, and heat resistance. They can also be blended with other rubbers which makes them versatile to use in different applications. 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. NBR is also widely used in the Aerospace & Defense sectors. The Boeing Commercial Market Outlook 2021-2040 has estimated that the world fleet of aircraft will grow by a total of 43,610, an estimate of 3.1% growth. The growing demand in the Automotive sector and the Aerospace & Defense sector is one of the primary drivers for the Nitrile Butadiene rubber Market within the forecast period of 2022-2027.

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 2021-2040, 43,610 new aircraft will be added to the global fleet by 2040 which accounts for a growth of 3.1%. Nitrile butadiene rubber is essential in these industries as they are used in various applications such as hoses, rollers, belts, tires, cables, and so on. As such, this is a great driving factor for the Nitrile Butadiene Rubber Market within the forecast period of 2022-2027.

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 2022-2027.

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:

1. ARLANXEO
2. Kumho Petrochemical Co., Ltd.
3. TSRC Corporation
4. Sinopec
5. JSR CORPORATION
6. LG Chem
7. ZEON CORPORATION
8. SIBUR
9. Versailles S.p.A
10. 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.

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