Eco-Friendly Nitrile Butadiene Rubber Is The Fastest Growing Segment Fueling Growth Of The Nitrile Butadiene Rubber Market

 

The global Nitrile Butadiene Rubber Market is estimated to be valued at US$ 2.2 Bn or Mn in 2023 and is expected to exhibit a CAGR of 6.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Nitrile butadiene rubber (NBR) is a family of unsaturated copolymers with acrylonitrile and 1,3-butadiene monomers. NBR possesses high levels of resistance to oil, gas, solvents, and dynamic loads. It also has excellent low-temperature performance, making it ideal for applications in automotive and construction sealants, oil field equipment, molded goods, and more.

Market key trends:

One of the key trends in the nitrile butadiene rubber market is the growing demand for eco-friendly nitrile butadiene rubber. Eco-friendly NBR uses plant oils and renewable carbon sources instead of petroleum-derived ingredients. It has lower environmental impact and carbon footprint as compared to conventional NBR. Eco-friendly NBR addresses sustainability concerns of automakers. Moreover, regulations favoring use of green tires and auto parts is expected to drive the demand of eco-friendly NBR over the forecast period.

Segment Analysis

The global Nitrile Butadiene Rubber market is dominated by the industrial grade segment which accounts for over 60% of the total market share. This is because NBR exhibits excellent resistance to chemicals, heat, and aging which makes it suitable for various applications in the automotive, oil & gas, and industrial sectors.

Key Takeaways

The global Nitrile Butadiene Rubber market is expected to witness high growth, exhibiting CAGR of 6.4% over the forecast period, due to increasing demand from the automotive and oil & gas industries.

Regional Analysis
Asia Pacific dominates the global Nitrile Butadiene Rubber market and is expected to continue its dominance during the forecast period. This is attributed to robust growth of the automotive, construction and oil & gas industries in countries such as China, India, Japan and South Korea.

Key Players

Key players operating in the Nitrile Butadiene Rubber market are Apcotex Industries Limited, ARLANXEO, China Petroleum & Chemical Corporation (Sinopec), Dynasol Group, JSR Corporation, KUMHO PETROCHEMICAL, Lanxess, LG Chem, Sibur, Synthomer, Synthos, TSRC, Versalis SpA, and Zeon Corporation.

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