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The nitrile butadiene rubber market share is estimated to surge by USD 319.03 million from 2021 to 2026 at an accelerating CAGR of 4.5%.
This market research report extensively covers nitrile butadiene rubber market segmentations by the following:
This nitrile butadiene rubber market report further provides detailed data on several market vendors, including Abbott Rubber Co. Inc., AirBoss of America Corp., Apcotex Industries Ltd., Atlantic Gasket Corp., China National Petroleum Corp., Eni Spa, EW Polymer Group LLC, Grupo Dynasol, Hanna Rubber Co., JSR Corp., Kumho Petrochemical Co. Ltd., LANXESS AG, LG Chem Ltd., NANTEX INDUSTRY Co. Ltd., Nitriflex, Rahco Rubber Inc., SIBUR Holding PJSC, Synthos SA, TSRC Corp., and Zeon Corp. among others. One of the key highlights of this report is the post COVID-19 impact analysis on the market, which will help companies evaluate their business approaches for the future.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increasing consumption from automotive and aeronautical industries is notably driving the nitrile butadiene rubber market growth, although factors such as fluctuating raw material prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the nitrile butadiene rubber industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Nitrile Butadiene Rubber Market Driver
The increasing consumption from automotive and aeronautical industries is one of the key drivers supporting the nitrile butadiene rubber market growth. Nitrile butadiene rubber is extensively used in the automotive and aeronautical industries to produce fuel hoses, oil hoses, grommets, seals, and binders of frictional materials. Well, the capability of nitrile butadiene to withstand extreme temperatures from -104 degree Fahrenheit to 224.6 degree Fahrenheit makes it popular in both industries. Moreover, the global automotive market is growing with high demand for lightweight and fuel-efficient vehicles. Thus, the increasing vehicle demand and importance of nitrile butadiene rubber in various automotive applications are the major stimulants of the growth of the global nitrile butadiene rubber market.
Key Nitrile Butadiene Rubber Market Trend
The rising demand for bio-based feedstock is one of the key nitrile butadiene rubber market trends contributing to market growth. Bio-based butadiene is basically produced with the help of renewable raw material sources such as non-food biomass. In view of this, industrial biotechnology companies, such as Gevo, Genencor, Amyris, and Genomatica, are focusing on producing bio-based rubber ingredients made from sugar. For instance, Michelin partnered with technology firms such as Axens and Tereos to convert biomass to butadiene. Versalis produces bio-butadiene in bulk at its research centers at Novara and Mantova. It focuses on testing and producing downstream products that include SBR and acrylonitrile butadiene styrene. Thus, the intermittent focus of major players to achieve cost-effectiveness and sustainability through the development of bio-based feedstock will positively impact the nitrile butadiene rubber (NBR) market growth during the forecast period.
Key Nitrile Butadiene Rubber Market Challenge
Fluctuating raw material prices is one of the challenges impeding the nitrile butadiene rubber market growth. Primarily, the prices of petrochemicals are dependent on the price of natural gas and crude oil. Due to the supply-demand imbalance and the volatile political situation in the Middle East, which has the major share of the world oil supply, there has always been increased volatility in the price of crude oil in the overseas market. Thus, the manufacturers of synthetic rubber may not be able to plan and manufacture accordingly because of the fluctuating raw material prices. Furthermore, there was a drastic decline in the prices in the last few years, which was a relief to nitrile butadiene rubber manufacturers. However, the prices are expected to increase again in the coming years as Russia and Saudi Arabia, the largest suppliers of crude oil, are planning for a supply cut. Such fluctuating prices of raw materials is challenging the nitrile butadiene rubber market growth.
This nitrile butadiene rubber market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global nitrile butadiene rubber market as a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the nitrile butadiene rubber market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the nitrile butadiene rubber market encompasses successful business strategies deployed by the key vendors. The nitrile butadiene rubber market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The nitrile butadiene rubber market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the nitrile butadiene rubber market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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59% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for nitrile butadiene rubber market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Increasing automotive production in China, India, Japan, and various other countries will facilitate the nitrile butadiene rubber market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 in 2020 declined the growth of the nitrile butadiene rubber market in the region. However, in the second half of 2021, most countries in this region implemented mass vaccination drives that helped to decrease the rising COVID-19 cases. This, in turn, resulted in the resumption of operations in various manufacturing units. Thus, these factors are anticipated to increase the demand in the regional nitrile butadiene rubber (NBR) market growth over the forecasted period.
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The nitrile butadiene rubber market share growth by the HB and C segment will be significant during the forecast period. The hose, belting, and cable segment is the largest in the global nitrile butadiene rubber market. Nitrile butadiene rubber is widely used in different industries, such as automotive and aeronautical, to produce fuel-handling hoses and oil-handling hoses. It is used to make products that require high resistance to oil, fuel, temperature, and chemicals. Therefore, numerous industries are consuming nitrile butadiene rubber on a large scale to manufacture hoses, conveyor belts, and cables. Such increasing consumption of HB and C will drive the NBR market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the nitrile butadiene rubber market size and actionable market insights on post COVID-19 impact on each segment.
Nitrile Butadiene Rubber Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
Market growth 2022-2026 |
$ 319.03 million |
Market structure |
Fragmented |
YoY growth (%) |
3.5 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 59% |
Key consumer countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Abbott Rubber Co. Inc., AirBoss of America Corp., Apcotex Industries Ltd., Atlantic Gasket Corp., China National Petroleum Corp., Eni Spa, EW Polymer Group LLC, Grupo Dynasol, Hanna Rubber Co., JSR Corp., Kumho Petrochemical Co. Ltd., LANXESS AG, LG Chem Ltd., NANTEX INDUSTRY Co. Ltd., Nitriflex, Rahco Rubber Inc., SIBUR Holding PJSC, Synthos SA, TSRC Corp., and Zeon Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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