Latest News- Nitrile Butadiene Rubber Market: HB and C is expected to lead the Application segment during 2024-2028

The Nitrile Butadiene Rubber Market is being driven by Increasing consumption from automotive and aeronautical industries

The Nitrile Butadiene Rubber Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 319.8 million. In the synthetic rubber market, there is a burgeoning trend towards utilizing bio-based feedstocks in production. This shift is driven by the imperative to achieve sustainability, as well as the increasing costs and dwindling supply of traditional petroleum raw materials and natural rubber. Major players in the nitrile butadiene rubber (NBR) sector are actively pursuing this approach, collaborating with industrial biotech firms to commercialize bio-based rubber raw materials. Bio-based butadiene, a key component of NBR, is produced using renewable raw material sources, such as non-food biomass. This sustainable production method is poised to revolutionize the industry and provide long-term solutions to the challenges of resource scarcity and environmental concerns. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • HB and C
  • Seals and O-rings
  • Industrial and medical gloves
  • Molded and extruded products
  • Others
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing consumption from automotive and aeronautical industries
• Rapid rate of industrialization
• Growing demand from healthcare and manufacturing sectors

However, the market also witnesses some limitations, which are as follows:

• Fluctuating raw material prices
• Regulations imposed over emission of toxic fumes
• Recovering natural rubber market

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Market Scope in Nitrile Butadiene Rubber Market Research Report

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Research Analysis Overview

The Nitrile Butadiene Rubber (NBR) market encompasses the production and application of this elastomer, derived from Acrylonitrile and Butadiene. NBR finds extensive use in sectors like Smart Cities Mission, particularly in seals and O-rings, molded & extruded products, and gloves. Key industries include Oil & gas, Medical, and Renewable energy. Substitute materials like Isoprene, Latex, Thermoplastic elastomers, Fluoroelastomers, ABS, and various types of belts (timing, fan, conveyor), hoses, and cables also compete in this market. Applications span across sectors such as seals & O-rings, gloves, and various industries like Oil & gas, Medical, and Renewable energy. NBR's versatility is showcased through its use in products like hoses, belting, cables, and substitutes like Isoprene, Latex, Thermoplastic elastomers, Fluoroelastomers, ABS, and diverse types of belts (timing, fan, conveyor). In the context of the Smart Cities Mission, NBR plays a crucial role in the production of seals and O-rings, molded & extruded products, and gloves. The Oil & gas, Medical, and Renewable energy sectors are significant consumers of NBR. Competitors in the NBR market include Isoprene, Latex, Thermoplastic elastomers, Fluoroelastomers, ABS, and a variety of belts (timing, fan, conveyor), hoses, and cables. NBR is a versatile elastomer that is widely used in various applications, including seals & O-rings, gloves, and industries such as Oil & gas, Medical, and Renewable energy. Its applications span across various products like hoses, belting, cables, and substitutes like Isoprene, Latex, Thermoplastic elastomers, Fluoroelastomers, ABS, and various types of belts (timing, fan, conveyor).

Market Research Overview

The Nitrile Butadiene Rubber (NBR) market is a significant segment of the global commodity chemicals industry, focusing on the production of acrylonitrile-butadiene copolymers. Participants in this market include manufacturers of seals and O-rings, molded and extruded products, and mechanical engineering components. The commodity chemicals sector encompasses companies producing industrial and basic chemicals, such as plastics, synthetic fibers, films, commodity-based paints and pigments, explosives, and petrochemicals. The market's expansion will be fueled by the escalating demand for lightweight, corrosion-resistant materials in various industries, particularly in the manufacture of plastic packaging materials for smart cities and applications in mechanical engineering. The demand for NBR in the production of gloves is another driving factor. Technavio's market analysis forecasts that this trend will continue, as the global commodity chemicals market size is projected to grow, driven by the increasing demand for plastic packaging and innovative materials.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
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