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NEW YORK, April 29, 2022 /PRNewswire/ — The Nitrile Butadiene Rubber Market Share is expected to increase by USD 319.03 million from 2021 to 2026 with an accelerated CAGR of 4.5%, according to the recent market study by Technavio.
Segmentation by Application (In-Scope/Out-of-Scope)
- In-Scope:
- HB and C:
The nitrile butadiene rubber market share growth by the HB and C segments will be significant during the forecast period. The hose, belting, and cable segment is the largest in the global nitrile butadiene rubber market. Nitrile butadiene rubber is widely used in different industries, such as automotive and aeronautical, to produce fuel-handling hoses and oil-handling hoses. It is used to make products that require high resistance to oil, fuel, temperature, and chemicals. Therefore, numerous industries are consuming nitrile butadiene rubber on a large scale to manufacture hoses, conveyor belts, and cables. Such increasing consumption of HB and C will drive the NBR market during the forecast period.
- Out-of-Scope:
- Seals and O-rings
- Industrial and medical gloves
- Molded and extruded products
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Highlights-
- Segmentation- The report extensively covers market segmentation by Application (HB and C, seals and O-rings, industrial and medical gloves, and molded and extruded products) and Geography (APAC, Europe, North America, South Americaand Middle East and Africa)
- Key Companies- Abbott Rubber Co. Inc., AirBoss of America Corp., Apcotex Industries Ltd., Atlantic Gasket Corp., China National Petroleum Corp., Eni Spa, EW Polymer Group LLC, Grupo Dynasol, Hanna Rubber Co., JSR Corp., Kumho Petrochemical Co. Ltd., LANXESS AGLG Chem Ltd., NANTEX INDUSTRY Co. Ltd., Nitriflex, Rahco Rubber Inc., SIBUR Holding PJSC, Synthos SA, TSRC Corp., and Zeon Corp. among others
- Driver- Increasing consumption from automotive and aeronautical industries to drive the market.
- Challenge– Fluctuating raw material prices to hamper the market growth
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Vendor Insights-
The nitrile butadiene rubber market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- Abbott Rubber Co. Inc. – The company offers nitrile butadiene rubber which is used in rugged airline service in mining, quarries, construction, sandblasting, industrial air placement and equipment rental. Through the unified segment, the company offers industrial hose, rubber products, molded rubber products, rubber hose, and rubber sheeting.
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Learn More about Key Market Driver & Challenge-
- Nitrile Butadiene Rubber Market Driver:
- Increasing consumption from automotive and aeronautical industries:
Nitrile butadiene rubber is extensively used in the automotive and aeronautical industries to produce fuel hoses, oil hoses, grommets, seals, and binders of frictional materials. Well, the capability of nitrile butadiene to withstand extreme temperatures from -104 degree Fahrenheit to 224.6 degree Fahrenheit makes it popular in both industries. Moreover, the global automotive market is growing with high demand for lightweight and fuel-efficient vehicles. Thus, the increasing vehicle demand and importance of nitrile butadiene rubber in various automotive applications are the major stimulants of the growth of the global nitrile butadiene rubber market.
- Nitrile Butadiene Rubber Market Challenge:
- Fluctuating raw material prices:
Primarily, the prices of petrochemicals are dependent on the price of natural gas and crude oil. Due to the supply-demand imbalance and the volatile political situation in the Middle Eastwhich has the major share of the world oil supply, there has always been increased volatility in the price of crude oil in the overseas market. Thus, the manufacturers of synthetic rubber may not be able to plan and manufacture accordingly because of the fluctuating raw material prices. Furthermore, there was a drastic decline in the prices in the last few years, which was a relief to nitrile butadiene rubber manufacturers. However, the prices are expected to increase again in the coming years as Russia and Saudi Arabiathe largest suppliers of crude oil, are planning for a supply cut. Such fluctuating prices of raw materials are challenging the nitrile butadiene rubber market growth.
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