Nitrile Butadiene Rubber Market Size, Share & Trends Report

Nitrile Butadiene Rubber Market Size, Share & Trends Analysis Report By Product (Hoses, Belts, Cables, Molded & Extruded Products), By Application (Automotive, Mechanical Engineering, Oil & Gas), By Region, And Segment Forecasts, 2024 - 2030

  • Report ID: 978-1-68038-207-5
  • Number of Pages: 152
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the nitrile butadiene rubber market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for nitrile butadiene rubber market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of nitrile butadiene rubber market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Nitrile Butadiene Rubber Market Categorization:

The nitrile butadiene rubber market was categorized into three segments, namely product (Hoses, Belts, Cables, Molded & Extruded Products, Seals & O-rings, Rubber Compounds, Adhesives & Sealants, Gloves, Foamed Products), application (Automotive, Mechanical Engineering, Oil & Gas, Metallurgy & Mining, Construction, Medical), and regions (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa).

Segment Market Methodology:

The nitrile butadiene rubber market was segmented into product, application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The nitrile butadiene rubber market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into sixteen countries, namely, the U.S.; Canada; Mexico; Germany; the UK; France; Italy; Russia; China; India; Japan; South Korea; Brazil; Argentina; GCC Countries; South Africa.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Nitrile butadiene rubber market companies & financials:

The nitrile butadiene rubber market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • ARLANXEO - ARLANXEO is engaged in producing high performance rubber and caters to the needs of various applications such as automotive, electrical, consumer goods, construction, medical & pharma, and oil & gas. The company offers nitrile butadiene rubber under the brand names Perbunan, Krynac, and Baymod N. The company has world-scale plants in North America, Europe, Asia, and South America. ARLANXEO operates through 12 production sites in 9 countries and 7 innovation centers around the world.

  • Zeon Chemicals L.P. - Zeon Chemicals L.P. is one of the major producers of polymers and has a presence in Asia, North America, and Europe. It produces and supplies polymers including elastomers and specialty chemicals. The company’s nitrile butadiene rubber portfolio includes specialty grades, powder, liquid, and blends of nitrile butadiene rubber/polyvinylchloride (NBR/PVC). It is also engaged in developing epichlorohydrin (ECO), polyacrylate elastomers, solution styrene-butadiene rubber (S-SBR), and emulsion styrene-butadiene rubber (E-SBR). The company offers products to industries such as manufacturing, automotive, and oil & gas. It has established research and development facilities in the U.S., Japan, China, and Singapore.

  • NITRIFLEX - NITRIFLEX was established in 1971 and is headquartered in Duque de Caxias, Brazil. It is engaged in research, development, and production of latexes and polymers for construction, automotive components, electronics, food industry, textiles, and footwear sectors. Over the past few years, the company has been accredited with quality certifications of ISO 9001, ISO 14001, and REACH for its production and distribution processes. It also uses a sophisticated automation system, which is aimed at constantly monitoring with information stored in databanks (PIMS) that enable the efficiency evaluation in real time and the implementation of quick decisions for improving the process.

  • SIBUR - SIBUR is the largest integrated petrochemicals company in Russia. The company is engaged in the business of gas processing and petrochemicals products for use in the automotive, packaging, agriculture, construction, mining, textile, clothing & footwear, medicine & healthcare, food, printing, electronics engineering, consumer goods, energy, and chemical industries. It operates through three business segments, namely olefins & polyolefins; plastics, elastomers & intermediates; and midstream. The company offers nitrile butadiene rubber through its plastics and elastomers & intermediates business segment. It sells its petrochemical products on the international and Russian markets through two business segments, namely Olefins & Polyolefins and Plastics and Elastomers & Intermediates.

  • PetroChina Company Limited - PetroChina Company Limited is engaged in the production, export, import, and transit trade of natural gas, petrochemicals, and crude oil products. Its product portfolio includes ethylene, propylene, benzene, polyethylene, polypropylene, acrylonitrile butadiene styrene, terylene fiber, polyacrylic fiber, polypropylene fiber, butadiene styrene rubber, polybutadiene rubber, ethylene-propylene rubber, nitrile butadiene rubber, glacial acetic acid, alkylbenzene, octanol, synthesized ethanol, butyl alcohol, purified methanol, urea, and ammonium nitrate. The company’s products cater to the needs of various industries such as automotive, construction, electronics, medical manufacturing, printing, electrical appliances, household products, insulation, packaging, paper, textile, paint, footwear, agriculture, and furniture.

  • Dynasol Group - Dynasol Group is engaged in the manufacturing of synthetic rubbers. Products offered by the company cater to the needs of various applications including tire, tire retread, automotive, seals, under carpet, FDA seals, conveyor belts, chewing gum, hose, rolls, insulate, plastic, friction, technical articles, adhesives, shoes, molded parts, mats, O-ring, paper, and textile coating. It has 6 manufacturing plants located in Spain, Mexico, China, and the U.S.

  • Synthos S.A. - Synthos S.A. is is engaged in the business of manufacturing and distribution of products including synthetic rubber, polystyrene, expanded polystyrene, extruded polystyrene, specialty chemicals, adhesives, and agrochemicals. The company produces and sells nitrile butadiene rubbers under the trademark KER. The company is accredited with quality certifications of OSHAS norms 18001:1999, PN-N 18001, TUV NORD, and the State Labour Inspection Office (Prague) for the production of rubber products

  • KUMHO PETROCHEMICAL - KUMHO PETROCHEMICAL primarily manufactures synthetic rubbers, specialty chemicals, synthetic resins, electronic materials, energy, nanotechnology, and building materials. The company is indulged in manufacturing various synthetic rubbers including butadiene rubber (BR), styrene butadiene rubber (SBR), solution styrene butadiene rubber (S-SBR) & neodymium polybutadiene rubber (Nd-BR), HBR, NBR, SBS, STE, LBR, HSR, SEBS, NBR Latex, and SB Latex. KUMHO PETROCHEMICAL offers KNB, which is a synthetic rubber product manufactured by emulsionpolymerizing acrylonitrile and butadiene at low temperature and has great oil & chemical resistance. The company’s product portfolio offers excellent electrical conductivity, processability, mechanical, and oil resistance properties, which have wide applications in tires, shoes, automobile parts, sporting goods, asphalt, waterproof sheets, plastics.

  • LG Chem - LG Chem was established in 1947 and is headquartered at Seoul, South Korea. The company operates through its four business segments, namely petrochemicals, energy solutions, advanced materials, and life sciences. Its product portfolio includes naphtha cracking center (NCC), acrylonitrile butadiene styrene (ABS), acrylates, polyvinyl chloride (PVC), synthetic rubbers, and specialty polymers. The company’s products cater to various end-use industries such as automotive, consumer goods, chemicals, construction, and healthcare.

  • Versalis S.p.A. - The product portfolio of the company includes intermediates, polyethylene, styrenics, elastomers, and biotech. It has a team of 400 researchers and technologists at its research centers working across three main production sites, namely the Mantua Research Centre for intermediates and plastics, the Novara “Green Chemistry” Research Centre, and the Ferrara and Ravenna Elastomer Research Centre. The company operates as a subsidiary of Eni S.p.A., an Italian multinational company, engaged in the exploration, production, and refining of oil, gas, electricity, and chemicals.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Nitrile Butadiene Rubber Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2023, historic information from 2018 to 2022, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Nitrile Butadiene Rubber Market Report Assumptions:

  • The report provides market value for the base year 2023 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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