Precedence Research’s latest report on the global nitrile butadiene rubber (NBR) market provides an analysis for the period of 2016 to 2027, wherein, 2020 is the base year, 2016 and before is historical data, and 2020 to 2027 is the forecast period.
The global nitrile butadiene rubber (NBR) market size was valued at US$ 1.39 Billion in 2019 and is projected to reach US$ 2.50 Billion by 2027, rising at a market growth (CAGR) of 7.6% during the forecast period.
Precedence Research provides an in-depth analysis of market size, share analysis, Industry growth, market valuation, market dynamics which includes drivers, restraints, opportunities, trends, challenges, market segmentation, competitive landscape, regional and country breakdowns, and strategies for nitrile butadiene rubber (NBR) market. The study reviews the global industry by-products or services offered, downstream fields, end using customers, historic data figures regarding revenue and sales, market context, and more.
The report comprises a detailed value chain analysis, which provides a comprehensive view of this market. The Porter’s Five Forces model for the global market has also been included to help understand the competitive landscape. The study covers market attractiveness analysis, wherein resin types are benchmarked based on their market value, growth rate, and general attractiveness.
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Nitrile Butadiene Rubber (NBR) latex is synthetic milky colored latex widely used in dripping rubber particularly for medical and laboratory gloves. These latexes have excellent properties that include oil resistance and tensile strength among others and this contributes prominently for the significant demand of NBR latex in the healthcare industry.
NBR latex is manufactured using sulphur, phenyl, potassium hydroxide, zinc oxide, potassium laurate, ammonia, catalysts, acrylonitrile, and many more similar chemicals. Major suppliers and manufacturers for raw materials used in the NBR latex industry includes Toronto Research Chemicals, American Elements, Parchem, Linde Gas, Merck KGaA, The Good Scent Company, and Finoric among others.
NBR latex possesses excellent properties for example resistance to oil and other chemical that makes them significantly desirable in the manufacturing of protective equipment particularly gloves for the healthcare & industrial industries. This increasing penetration of the product anticipated to offer surplus opportunities in the nitrile butadiene rubber (NBR) latex market throughout the analysis period.
Further, rising penetration of industries especially in the emerging countries along with rising awareness for labor safety expected to positively influence the growth of the market over the upcoming period. Moreover, the increasing application of gloves in the paper, chemical, and food industries anticipated to further augment the market growth for nitrile butadiene rubber latex during the forthcoming years.
In addition, the widespread of COVID-19 virus across the world has significantly surged the healthcare spending along with the demand for protective and medical gloves that in turn predicted to boost the demand for NBR latex over the upcoming period. COVID-19 has resulted in increased demand for gloves particularly for personal protection and thus anticipated to propel the market growth for nitrile butadiene rubber latex especially in the year 2020 as well as in the near future.
- The Asia Pacific encountered maximum value share in the global market in 2019 due to large number of industries along with large consumer base in the region
- North America and Europe are the other most prominent markets in the NBR latex as they have strong infrastructure for healthcare along with various manufacturing industries
- Gloves segment captured the major market value share in 2019 and predicted to continue the same trend over the analysis period because of its rising implementation in the medical and healthcare industry
- Healthcare end-user segment emerged as a global leader in the NBR latex market in the year 2019 owing to high consumption of NBR gloves in the sector
- NBR also seeks significant demand from industrial and food segments owing to increasing application of gloves for workers working in critical locations
The Asia Pacific exhibits the highest growth rate during the analysis period because of increasing healthcare spending along with several manufacturers shifting their manufacturing facilities and research & development centers in the region. The region is highly lucrative for the industrial growth as it offers low cost raw materials and labors that significantly reduce the overall manufacturing cost for the industries. For instance, Zeon Corp. announced to expand its production capacity for hydrogenated nitrile rubber at Kawasaki, Japan. The plant manufactures Zetpol HNBR latex that has prominent applications in the fabric and coating glass cord.
Additionally, Thailand, Malaysia, and China are the prominent contributors towards the market growth. This is mainly because of major NBR gloves manufacturers are concentrated in these region. In the wake of same, the countries are the prominent importers of the NBR latex.
On the contrary, North America and Europe are the other important revenue contributors to the NBR latex market. This is mainly due to well-established automotive, healthcare, and electronics industries in the regions. Gloves are prominent protective equipment in a manufacturing industry and the demand for the product is largely dependent on the growth of these industries.
Key Players of the global nitrile butadiene rubber (NBR) market are:
- Versalis S.p.A.
- LG Chem
- Zeon Chemicals
- Jubilant Bhartia Group
- Kumho Petrochemical
- OMNOVA Solutions
- Apcotex Industries Limited
- Emerald Performance Materials LLC
Segments Covered in the Report:
- North America (United States, Canada)
- Europe (Germany, France, UK, Italy, Russia, and Rest of Europe)
- Asia-Pacific (China, Japan, India, Southeast Asia, Korea, and Rest of Asia Pacific)
- Latin America (Brazil and the Rest of Latin America)
- The Middle East and Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
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Carolina is an author who specializes in covering healthcare, chemical, and the automotive industry. Before joining Market Stats News, Carolina covered some of the biggest companies in Silicon Valley for the San Jose Mercury News. She loves all things French and the written word. Articles by Carolina