H1 2023: The key players in the Nitrile Butadiene Rubber (NBR) market in H1 2023 were Arlanxeo, Kumho Petrochemical Co. Ltd., and LG Chem Ltd. In terms of consumption of nitrile butadiene rubber, Asia Pacific was leading the way regionally in H1 2023. Prices for nitrile butadiene rubber in the Chinese market showed mixed market views. On the upstream side, butadiene prices were on a bullish run while acrylonitrile costs had fluctuated within a constrained range. The NBR prices kept rising from January 2023 but experienced a significant hike in the middle of February 2023. Additionally, in March 2023, a steady supply of NBR due to the drop in freight costs and the improvement in container rates stabilized market activity in Asia. Excess stockpiles and sluggish demand from downstream automobile industry led to the lowering of NBR prices in March 2023. However, in South Korea, prices of NBR began to rise exponentially from April 2023 due to the increase in queries from the downstream end-user automotive industry. On the other hand, the price of NBR in Europe remained strong at the start of H1 2023 despite growing inflationary pressure and tighter monetary conditions in the European market. However, in March 2023, the German market for nitrile butadiene rubber experienced a significant decrease in the consumption of NBR by downstream automotive sectors and input cost inflation. NBR prices fell as a result of rising inventory levels and an abundance of supply in Germany.
H1 2022: During H1 2022, the production capacity of Nitrile Butadiene Rubber (NBR) had reached roughly 395 thousand tonnes. However, the top players in the Nitrile Butadiene Rubber market in H1 2022 were Kumho Petrochemical Co. Ltd., Zeon Corporation, Synthos SA, and LG Chem Ltd. However, Kumho Petrochemical Co. Ltd. was ahead in competition with the biggest production capacity in H1 2022. Regionally, Asia Pacific was leading in terms of consumption of Nitrile Butadiene Rubber. Due to the good demand for this product, the NBR market in India remained stable, whereas in Malaysia, prices were rising as a result of rising feedstock costs and increased demand from the domestic businesses in H1 2022. In contrast to the Asia Pacific market, the European markets showed growth up until May 2022 before experiencing a decline in June 2022. NBR prices in France rose until May 2022 as a result of fewer imports from China which was followed by rising feedstock costs. The consistent demand for this product for usage in processing from numerous industries is another factor which led to the increase in costs of NBR across European nation. The Euro's depreciation versus the US dollar also contributed to the fleeing prices of NBR in H1 2022.
H2 2022: In H2 2022, the production rate was actually similar to H1 2022. During H2 2022, the market consuming industries like automotive also enhanced their demand in comparison to H1 2022. Based on region APAC was the biggest consumer all across the globe. APAC consumed approximately 60% of the net market with China and India being the primary consuming countries. However, the prices were dropped in H2 2022 across Asia Pacific region, with the accumulation of stocks among the manufacturers and lower expected purchases from the downstream rubber industry such as automotive and footwear. As a result, the supply side was under more stress, which had decreased NBR prices. Furthermore, the weak demand amnong European nations caused the sluggish market behavior across Europe. NBR was prominently used by the automotive sector. As a result, the growth of the NBR market was significantly influenced by the automotive sector. However, in Europe there was enough product supply, and a high inflation which had put a strain on downstream demand and hindered the manufacturing of goods. However, the costs of raw materials had lowered affecting the NBR market growth on Europe.
The global Nitrile Butadiene Rubber (NBR) market has expanded remarkably to reach approximately 800 thousand tonnes in 2022 and is expected to grow at a CAGR of 3.74% during the forecast period until 2032.
Nitrile butadiene rubber (NBR) is a family of unsaturated copolymers of butadiene (BD) and acrylonitrile (ACN). NBR has many properties including high gas impermeability, resistance to wear and tear, thermal resistance, low temperature flexibility. NBR shows high resistance to petroleum products such as gasoline, diesel oil and other fuels over a wide temperature range. NBR is also known for high strength and excellent resistance to abrasion, water, alcohols and heat. Due to these properties, NBR find application in hose, belting and cables, o-rings and seals, latex applications, molded and extruded products, adhesives and sealants. Moreover, compression machinery and hydraulic equipment also use gaskets made with NBR extensively to prevent gas and liquid leaks. Other uses of NBR include the use of NBR powder as impact modifier for Polyvinyl chloride (PVC) and Acrylonitrile Butadiene Styrene (ABS). Due to the numerous applications of NBR there are several end use industries for NBR which include automotive, construction, machinery, pharmaceuticals, oil and gas. Growing demand for hose, belting and cable, o-rings and seals from the automotive and construction sector is expected to drive the demand of NBR during the forecast period. Due to these factors, the NBR market is expected to reach 1100 thousand tonnes in 2032.
Based on demand across the globe, the Asia Pacific is reported to be the biggest consumer of the Nitrile Butadiene Rubber (NBR) market followed by Europe and North America. This region held a market share of approximately 60% in 2022. Due to growing demand for construction and automotive sector in the Asia Pacific region, is one of the major factors driving the Nitrile Butadiene Rubber (NBR) market around the world. It is expected that Asia Pacific will most likely remain the biggest consumer in the forecast period. Increasing population and per capita income in emerging economies is another factor propelling demand growth for nitrile butadiene rubber in Asia Pacific region.
Based on the end-user industry, the global Nitrile Butadiene Rubber (NBR) market is segmented into different industrial sectors that include Automotive, Construction, Medical Gloves, and Others. The Automotive industry is dominating the Nitrile Butadiene Rubber (NBR) market. This industry consumed approximately 48% of the market in 2022. Automotive manufacturing, oil & gas, and other end-use industries all require O-rings and seals. Manufacturing of vehicles has a direct impact on the consumption of O-rings and seals in the automotive industry. O-rings and seals are produced using nitrile rubber because of their desirable characteristics, which include low compression setting, high tensile strength, excellent abrasion resistance, and oil resistance. The NBR market is expanding as a result of the extensive usage of NBR O-rings and seals in the manufacturing, oil and gas, and automotive industries.
Major players in the production of Global Nitrile Butadiene Rubber (NBR) are Arlanxeo, LG Chem Ltd., Kumho Petrochemical Co. Ltd., Krasnoyarsk Synthetic Rubbers Plant JSC, Blue Star NBR, LLC, Zeon Corporation, Ningbo Shunze Rubber Co., Ltd., Dynasol/Shanxi Northern Xing'an Chemicals, ARLANXEO-TSRC (Nantong) Chemical Industrial Co. Ltd., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Nitrile Butadiene Rubber (NBR) which covers production, demand and supply of Nitrile Butadiene Rubber (NBR) market in the globe.
• To analyse and forecast the market size of Nitrile Butadiene Rubber (NBR)
• To classify and forecast Global Nitrile Butadiene Rubber (NBR) market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Nitrile Butadiene Rubber (NBR) market in the globe.
To extract data for Global Nitrile Butadiene Rubber (NBR) market, primary research surveys were conducted with Nitrile Butadiene Rubber (NBR) manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Nitrile Butadiene Rubber (NBR) market over the coming years.
ChemAnalyst calculated Nitrile Butadiene Rubber (NBR) demand in the globe by analyzing the historical data and demand forecast which was carried out considering the demand of Nitrile Butadiene Rubber (NBR) by the end-user industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Nitrile Butadiene Rubber (NBR) s manufacturers and other stakeholders
• Organizations, forums and alliances related to Nitrile Butadiene Rubber (NBR) s distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Nitrile Butadiene Rubber (NBR) s manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Nitrile Butadiene Rubber (NBR) s market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
800 thousand tonnes
Market size Volume by 2032
1100 thousand tonnes
Growth Rate
CAGR of 3.74% from 2022 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in thousand tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity By Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By End-Use: (Automotive, Construction, Medical Gloves, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Which region is leading as a consumer of the global Nitrile Butadiene Rubber (NBR) market?
Ans:
Asia Pacific is the largest consumer of the global Nitrile Butadiene Rubber (NBR) market.
Q2.
Which end-use industry is dominating the Global Nitrile Butadiene Rubber (NBR) market?
Ans:
The Automotive industry is dominating the Nitrile Butadiene Rubber (NBR) market with a market share of about 48% in 2022.
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