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Nitrile Butadiene Rubber (NBR) Market Size (2024 - 2029)

The nitrile butadiene rubber market is projected to experience growth over the forecast period, driven by increasing demand from the automotive industry and infrastructure development projects. Despite challenges such as the availability of substitute materials and fluctuating raw material prices, opportunities are anticipated in the renewable energy sector and healthcare applications. The market's expansion is further supported by a sustained demand for medical-related applications post-pandemic. The Asia-Pacific region leads in market consumption, with significant contributions from countries like China, India, and ASEAN nations.

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Market Size of Nitrile Butadiene Rubber (NBR) Industry

Nitrile Butadiene Rubber (NBR) Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 2.51 Billion
Market Size (2029) USD 3.41 Billion
CAGR (2024 - 2029) 6.31 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

Nitrile Butadiene Rubber (NBR) Market Analysis

The Nitrile Butadiene Rubber Market size is estimated at USD 2.51 billion in 2024, and is expected to reach USD 3.41 billion by 2029, growing at a CAGR of 6.31% during the forecast period (2024-2029).

COVID-19 hampered the nitrile butadiene rubber market. The pandemic disrupted the global supply chains, impacting the availability of raw materials, logistics, and manufacturing operations for NBR producers. However, the continued focus on hygiene and safety post-pandemic led to sustained demand for NBR gloves and other medical-related applications.

  • The increasing demand for nitrile butadiene rubber from the expanding automotive industry and from the industrial and infrastructure development projects are factors that are expected to drive the nitrile butadiene rubber market.
  • However, the availability of substitute materials and fluctuating raw material prices are expected to hinder the growth of nitrile butadiene rubber market.
  • The increasing demand for nitrile butadiene rubber from renewable energy sector and healthcare and medical devices are expected to provide various opportunities to the market players in the upcoming peroiod.
  • The Asia-Pacific region dominates the nitrile butadiene rubber market globally, with the largest consumption from countries such as China, India, and ASEAN Countries.

Nitrile Butadiene Rubber (NBR) Industry Segmentation

Nitrile butadiene rubber (NBR) is a synthetic rubber copolymer that is made from the polymerization of butadiene and acrylonitrile. It delivers exceptional resistance to grease, fuel, and chemicals. It is widely used in applications where exposure to these substances is every day, such as automotive seals, gaskets, hoses, and o-rings. NBR offers good mechanical properties, including high tensile strength, abrasion resistance, and flexibility over a wide range of temperatures.

The nitrile butadiene rubber (NBR) market is segmented by application, end-user industry, and geography. By application, the market is segmented into adhesives and sealants, belts and cables, gloves, hoses, gaskets and O-rings, and other applications (consumer goods). By end-user industry, the market is segmented into automotive and transportation, building and construction, industrial, medical, and other end-user industries (oil and gas and aerospace). The report also covers the market size and forecasts for the nitrile butadiene rubber Market in 27 countries across the major region. For each segment, market sizing and forecasts have been done based on revenue (USD).

Application
Adhesives and Sealants
Belts and Cables
Gloves
Hoses
Gaskets and O-Rings
Other Applications (Consumer Goods)
End-user Industry
Automotive and Transportation
Building and Construction
Industrial
Medical
Other End-user Industries (Oil and Gas, Aerospace)
Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
Indonesia
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Spain
Turkey
Russia
NORDIC
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Nigeria
Egypt
Qatar
UAE
Rest of Middle East and Africa
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Nitrile Butadiene Rubber (NBR) Market Size Summary

The nitrile butadiene rubber (NBR) market is poised for significant growth over the forecast period, driven by its extensive application in the automotive and industrial sectors. The material's resistance to petroleum-based fluids, aging, and ozone makes it ideal for automotive components such as hoses, belts, and seals. The automotive industry's expansion, particularly in the Asia-Pacific region, is a major contributor to the increasing demand for NBR. Additionally, the material's durability and chemical resistance make it a preferred choice for industrial vehicles and construction equipment. Despite challenges such as the availability of substitute materials and fluctuating raw material prices, the market is expected to benefit from opportunities in the renewable energy and healthcare sectors.

The Asia-Pacific region dominates the global nitrile butadiene rubber market, with significant consumption in countries like China, India, and ASEAN nations. The region's robust automotive manufacturing hubs and rapid urbanization contribute to the growing demand for NBR. Infrastructure development projects, particularly in India, further bolster the market's expansion. The presence of major NBR manufacturers in the region ensures a reliable supply to meet this demand. The market is partially consolidated, with key players like KUMHO PETROCHEMICAL, Synthomer PLC, and LG Chem investing in core business areas to enhance production capabilities. These factors collectively drive the market's growth trajectory, positioning it for a promising future.

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Nitrile Butadiene Rubber (NBR) Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Expanding Automotive Industry

      2. 1.1.2 Industrial and Infrastructure Development Projects

    2. 1.2 Restraints

      1. 1.2.1 Availability of Substitute Materials

      2. 1.2.2 Fluctuating Raw Material Prices

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Application

      1. 2.1.1 Adhesives and Sealants

      2. 2.1.2 Belts and Cables

      3. 2.1.3 Gloves

      4. 2.1.4 Hoses

      5. 2.1.5 Gaskets and O-Rings

      6. 2.1.6 Other Applications (Consumer Goods)

    2. 2.2 End-user Industry

      1. 2.2.1 Automotive and Transportation

      2. 2.2.2 Building and Construction

      3. 2.2.3 Industrial

      4. 2.2.4 Medical

      5. 2.2.5 Other End-user Industries (Oil and Gas, Aerospace)

    3. 2.3 Geography

      1. 2.3.1 Asia-Pacific

        1. 2.3.1.1 China

        2. 2.3.1.2 India

        3. 2.3.1.3 Japan

        4. 2.3.1.4 South Korea

        5. 2.3.1.5 Malaysia

        6. 2.3.1.6 Thailand

        7. 2.3.1.7 Vietnam

        8. 2.3.1.8 Indonesia

        9. 2.3.1.9 Rest of Asia-Pacific

      2. 2.3.2 North America

        1. 2.3.2.1 United States

        2. 2.3.2.2 Canada

        3. 2.3.2.3 Mexico

      3. 2.3.3 Europe

        1. 2.3.3.1 Germany

        2. 2.3.3.2 United Kingdom

        3. 2.3.3.3 Italy

        4. 2.3.3.4 France

        5. 2.3.3.5 Spain

        6. 2.3.3.6 Turkey

        7. 2.3.3.7 Russia

        8. 2.3.3.8 NORDIC

        9. 2.3.3.9 Rest of Europe

      4. 2.3.4 South America

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Argentina

        3. 2.3.4.3 Colombia

        4. 2.3.4.4 Rest of South America

      5. 2.3.5 Middle East and Africa

        1. 2.3.5.1 Saudi Arabia

        2. 2.3.5.2 South Africa

        3. 2.3.5.3 Nigeria

        4. 2.3.5.4 Egypt

        5. 2.3.5.5 Qatar

        6. 2.3.5.6 UAE

        7. 2.3.5.7 Rest of Middle East and Africa

Nitrile Butadiene Rubber (NBR) Market Size FAQs

The Nitrile Butadiene Rubber Market size is expected to reach USD 2.51 billion in 2024 and grow at a CAGR of 6.31% to reach USD 3.41 billion by 2029.

In 2024, the Nitrile Butadiene Rubber Market size is expected to reach USD 2.51 billion.

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Nitrile Butadiene Rubber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)