The global nitrile butadiene rubber market size was valued at USD 2.1 billion in 2021. It is expected to expand at a CAGR of 5.2% during the forecast period. The automotive end-use segment is expected to have the highest penetration among all the segments in the global nitrile butadiene rubber market. Increasing utilization of nitrile butadiene rubber products such as seals & O-rings, hoses, belts, molded products, cables, and others in automobiles is significantly propelling market growth in the automotive segment. The rising trend of electric vehicles and technological advancement in the field of driverless cars are expected to fuel the growth of the automotive industry in the coming years, which, in turn, is likely to create demand for nitrile butadiene rubber.
The global per capita energy requirement is gradually increasing over the years, which is expected to portray growth opportunities for the U.S. oil & gas industry. In addition, increasing shale gas production in the country is projected to fuel the growth of the oil & gas industry. Factors such as tax credits, low-interest rates, R&D programs for natural gas, and focus on reducing the dependency on foreign oil & gas imports are propelling shale gas production in the country. All these aforementioned factors are expected to drive the oil & gas industry in the U.S., which, in turn, is projected to create significant demand for nitrile butadiene rubber in the country in the forecast period.
However, the negative impact of COVID-19 outbreaks on the growth of various industries such as oil & gas, automotive, construction, and others due to slowdown in manufacturing & production activities, restrictions in supply & transport, and decline in demand from end-use consumers is anticipated to hamper the market growth. Moreover, rising COVID-19 positive cases in the country is expected to create significant demand for nitrile butadiene rubber gloves.
Seals & O-rings product type segment accounted for the largest revenue share of over 19% in 2021. The increasing End-use scope of nitrile butadiene rubber in the automotive sector, including hoses and other molded products, is expected to fuel the market growth. In addition, the growth of aftermarket components is anticipated to play an important role in driving the demand.
Furthermore, increasing efforts by manufacturers to reduce the friction of internal automotive parts are projected to boost the growth of the NBR market in the forecast period. Moreover, the rising demand for nitrile butadiene rubber hoses in the automotive, oil & gas, metallurgy & mining, construction, and other end-use sector is significantly fueling the market growth.
Nitrile butadiene rubber conveyor & transmission belts, elevator belts, processing belts, and folder-gluer belts, among others, are widely used in the above-mentioned End-uses. Rising industrial development activities and increasing urbanization and infrastructure development projects, especially in developing countries, are expected to create significant demand for nitrile butadiene rubber over the forecast period.
Nitrile butadiene rubber is used to produce cable jackets owing to its high flame-retardancy and excellent low-temperature properties. Companies such as Zeon Chemicals L.P.; NITRIFLEX; and JSR Corporation, offer nitrile butadiene rubber ideal for cable End-use. NBR is suitable for the manufacturing of lightweight cables for indoor, outdoor, damp, or wet conditions. Furthermore, owing to NBR’s high resistance against stress, it is used for manufacturing cables for heavy equipment.
The automotive end-use segment accounted for the largest revenue share of over 38% in 2021 and this trend is projected to continue in the forecast period. The automotive segment includes automobiles, earth moving equipment, and industrial machinery & equipment. Growing demand for nitrile butadiene rubber products such as seals & O-rings, hoses, belts, molded products, cables, and others are expected to fuel market growth in the forecast period.
In addition, rising environmental concerns, coupled with government support in terms of subsidies such as federal and state tax credits to promote the production and consumption of electric vehicles, are anticipated to fuel the growth of the automobile sector, which, in turn, is further anticipated to generate substantial demand for nitrile butadiene rubber.
Furthermore, gaskets manufactured using NBR have witnessed high utilization across compression machines, and hydraulic equipment prevents leakage of gas or liquid. Advancements in technology have increased the demand for machinery to reduce labor work and increase efficiency across every industry, hence propelling the demand for NBR across mechanical engineering during the forecast period.
Increasing oil & gas exploration and production activities are expected to propel the growth of the nitrile butadiene rubber market over the forecast period. In addition, rising utilization of gas in energy mixes and growing shale gas production are expected to fuel the growth of the oil & gas industry over the forecast period. This in turn is further expected to propel the growth of the nitrile butadiene rubber market.
The Asia Pacific led the global demand with a market share of more than 50.0% in terms of revenue in 2021. Increasing demand from several end-use industries such as automotive, oil & gas, footwear, metallurgy & mining, construction, medical, and others are anticipated to fuel the market growth during the forecast period.
Europe witnessed significant demand in the past few years owing to the high consumption of nitrile rubber in industrial & medical gloves and automobile markets. The Industrial & medical gloves segment is expected to witness the highest growth rate on account of the well-established medical industry in the region coupled with a large number of chemical processing units.
Availability of cheap labor as well as close proximity to product suppliers, coupled with favorable FDI norms by governments, is further projected to facilitate investment in the industrial sector in the Asia Pacific, which is likely to propel the demand for nitrile butadiene rubber in the automotive, industrial machinery, construction, footwear, and other end-use industries.
The global market is highly fragmented with the presence of a large unorganized sector, particularly in the Asia Pacific and Latin America. Companies, particularly hailing from Asia Pacific have been constantly looking for significant capacity additions over the past few years to take advantage of operational excellence and achieve economies of scale. A diverse product portfolio and differentiation make the market competitive in terms of price and distribution channels. Some prominent players in the nitrile butadiene rubber market include:
ARLANXEO
Zeon Chemicals L.P.
NITRIFLEX
SIBUR
PetroChina Company Limited
Dynasol Group
Synthos S.A.
KUMHO PETROCHEMICAL
LG Chem
Versalis S.p.A.
JSR Corporation
AirBoss of America
Atlantic Gasket Corporation
Precision Associates Inc.
Anqing Hualan Technology Co., Ltd.
NANTEX Industry Co., Ltd.
Apcotex Industries Limited
Chang Rubber
Hanna Rubber Company
Report Attribute |
Details |
Market size value in 2022 |
USD 2.1 billion |
Revenue forecast in 2030 |
USD 3.2 billion |
Growth Rate |
CAGR of more than 5.2% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2019 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Volume in kilotons and revenue in USD million and CAGR from 2022 to 2030 |
Report coverage |
Volume forecast, revenue forecast, competitive landscape, growth factors, and trends |
Segments covered |
Product, end-use, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; and Middle East & Africa |
Country scope |
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Russia; China; India; Japan; South Korea; Brazil; Argentina; GCC Countries; South Africa |
Key companies profiled |
ARLANXEO; Zeon Chemicals L.P.; NITRIFLEX; SIBUR; PetroChina Company Limited; Dynasol Group; Synthos S.A.; KUMHO PETROCHEMICAL; LG Chem; Versalis S.p.A.; JSR Corporation; AirBoss of America; Atlantic Gasket Corporation; Precision Associates Inc.; Anqing Hualan Technology Co., Ltd.; NANTEX Industry Co., Ltd.; Apcotex Industries Limited; Chang Rubber; Hanna Rubber Company |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Any addition or alteration to the country, regional & segment scope report, we will provide it to you as a part of customization |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue and volume growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global nitrile butadiene rubber market report based on product, end-use, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Hoses
Belts
Cables
Molded & Extruded Products
Seals & O-rings
Rubber Compounds
Adhesives & Sealants
Gloves
Foamed Products
Others
End-Use Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Automotive
Mechanical Engineering
Oil & Gas
Metallurgy & Mining
Construction
Medical
Others
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Russia
Asia Pacific
China
India
Japan
South Korea
Central & South America
Brazil
Argentina
Middle East & Africa
GCC Countries
South Africa
b. The global nitrile butadiene rubber market size was estimated at USD 2.1 billion in 2020 and is expected to reach USD 2.13 billion in 2021.
b. The global nitrile butadiene rubber market is expected to grow at a compound annual growth rate of 5.2% from 2022 to 2030 to reach USD 3.26 billion by 2030.
b. The seals & O-rings segment dominated the nitrile butadiene rubber market with a share of 19.3% in 2021. Seals & O-rings are used in various pressure-sensitive applications and are widely used in automobile engines as reciprocating and rotary seals for relative motion between inner and outer elements.
b. Some key players operating in the nitrile butadiene rubber market include ARLANXEO, KUMHO PETROCHEMICAL, PetroChina Company Limited, Synthos S.A., Zeon Chemicals L.P., SIBUR, and JSR Corporation.
b. Key factors driving the nitrile butadiene rubber market growth include ascending demand from oil & gas industry, and increasing demand from the automotive industry.
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The global COVID-19 pandemic has led to a sudden pause to manufacturing activities across the globe, affecting the demand for plastics and also production & processing of them. The most critically impacted end-use segments of the plastics industry include automotive & transportation, consumer goods, industrial equipment, construction, and electronics. The report will account for COVID-19 as a key market contributor.
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