The global nitrile butadiene rubber market will generate revenue of $3,258.9 million in 2030 and advance at a CAGR of 4.6% between 2021 and 2030. This is attributed to the growing usage of nitrile butadiene rubber in the automotive, construction, medical, and oil & gas sectors across the globe.
The growing usage of thin medical- and food-grade gloves that protect the wearer against chemicals, viruses, and bacteria is driving the consumption of NBR. The increasing prevalence of chronic diseases and the soaring demand for nitrile gloves in the pharmaceutical industry due to their high chemical resistance and long shelf life are expected to drive this product category at a CAGR of 5.1% during the forecast period.
Additionally, the market for nitrile butadiene rubber gloves is predicted to boom due to the demand for health and safety at workplaces, including healthcare facilities, and because these gloves are durable.
Hoses are the second-fastest-growing category in the market due to the rising demand of the automobile industry for fuel and oil hoses.
The medical category is projected to witness the fastest nitrile butadiene rubber market growth due to the usage of NBR in the gloves used in the healthcare and pharmaceutical industries, majorly since it is affordable. In addition, compared to latex gloves, NBR gloves are puncture-resistant and make it easier to spot signs of wear & tear. Along with medical equipment and supplies, NBR is utilized in tubes, stoppers, and materials for cushioning or support.
In addition to applications requiring resistance to heat, abrasion, and water and gas permeability, nitrile material is also employed in applications requiring resistance to oil, fuel, and chemicals.
The demand for NBR in the automotive sector will witness the second-highest CAGR during the forecast period, since it is used to produce oil hoses, fuel hoses, grommets, binders of frictional materials, and seals. Ordinary rubber cannot satisfy these requirements, where the capability of NBR to handle temperatures in the range of –104 to 224.6 °F makes it useful.
Nitrile butadiene rubber is used in dashboards, brake linings, and oil and fuel level sensors, where it is becoming increasingly important with the growing popularity of electric vehicles. As a result of the growing environmental concerns, as well as official support in the form of subsidies, to promote the production and use of electric vehicles, a large increase is expected in the consumption of NBR.
Some of the major players in the market are Zeon Chemicals L.P., SIBUR international, LG Chem, JSR Corporation, Precision Associates Inc., NANTEX Industry Co. Ltd., and Dynasol Group.