The report provides an in-depth market study of various countries in the global Nitrile Butadiene Rubber (NBR) latex market covering five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific dominates the global nitrile butadiene rubber (NBR) latex market. The growing demand for nitrile butadiene rubber (NBR) latex in the region is mainly due to high production volumes across various industries in emerging economies. Major countries in the Asia-Pacific region such as India, China, Japan and South Korea are the largest automobile manufacturers, among which China has become the largest automobile manufacturer in the world.
New Delhi, June 02, 2023 (GLOBE NEWSWIRE) — The global nitrile rubber (NBR) latex market is gaining momentum owing to the growing demand for NBR in the healthcare sector and its growing use in the automotive industry.
Leading strategy consulting and market research firm BlueWeave Consulting estimated the global nitrile rubber (NBR) latex market size to be US$2.9 billion in 2022 in a recent study. The global nitrile rubber (NBR) latex market size is expected to grow at a CAGR of 6.12% during the forecast period from 2023 to 2029, reaching a value of US$4.14 billion by 2029. Strong growth in the automotive industry and increasing use of NBR products including seals and O-rings, hoses, belts, moldings, cables, etc. are the major drivers for the growth of the global Nitrile Rubber (NBR) latex market. The automobile industry is expected to continue to expand in the coming years due to the trend of electric vehicles and the development of autonomous vehicles, thereby increasing the demand for nitrile rubber latex products.
Nitrile rubber (NBR), commonly known as nitrile rubber, is an oil-resistant synthetic rubber made from a copolymer of butadiene and acrylonitrile. Its main applications are gasoline hoses, gaskets, rollers and other parts that must be oil resistant. For example, synthetic latex is made using nitrile butadiene rubber (NBR), which is used to make industrial and automotive rubber products. NBR is an excellent choice for general purpose applications due to its adaptability and reliability. Nitrile rubber is moderately resistant to water, gasoline, propane, petroleum products and various hydraulic fluids. It also has high resistance to compression and abrasion.
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By end user, the global nitrile butadiene rubber (NBR) latex market is segmented into automotive and transportation, construction, industrial, medical and other end-user industries. The automotive and transportation segment holds the largest share in the global Nitrile Butadiene Rubber (NBR) latex market. NBR is used in tire treads and sidewalls because it provides superior performance through improved wear and low rolling resistance. However, the medical industry is also expected to grow at a high CAGR due to the growing demand for gloves.
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The global nitrile butadiene rubber (NBR) latex market has expanded significantly during the COVID-19 pandemic. As the demand for gloves from medical institutions and general consumers increases to avoid cross-contamination of viruses, nitrile rubber latex glove manufacturers have increased their production capacity to meet the demand, thereby significantly accelerating the market growth. However, other industries are experiencing a market downturn, such as the automotive, construction and construction industries. Operations in these sectors have come to a complete halt due to the lockdown and labor shortages and to prevent the spread of the virus. Market participants affected by the epidemic suffered huge losses.
Key players in the global Nitrile Rubber (NBR) latex market include Synthomer, Omnova Solutions Inc., Kumho Petrochemical Co., Ltd., LG Chem Ltd., Zeon Chemicals LP, Lanxess AG, Nantex Industry Co., Ltd., Emerald Performance . Materials, LLC, Versalis SpA, JSR Corporation, The Dow Chemical Company, Eastman Chemical Company, China National Petroleum Corporation, Sibur International GmbH and ARLANXEO Holding BV
To further increase their market share, these companies have adopted various strategies including mergers and acquisitions, collaborations, joint ventures, licensing agreements and new product launches.
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In-depth analysis of the report provides information on the growth potential, future trends, and global Nitrile Butadiene Rubber (NBR) Latex market. It also highlights the factors influencing the overall market size forecast. The report promises to provide the latest technology trends and industry information on the global Nitrile Butadiene Rubber (NBR) latex market to help decision makers make informed strategic decisions. Additionally, the report analyzes market growth drivers, challenges, and competitive dynamics.
Synthomer, Omnova Solutions Inc., Kumho Petrochemical Co., Ltd., LG Chem Ltd., Zeon Chemicals LP, Lanxess AG, Nantex Industry Co., Ltd., Emerald Performance Materials, LLC, Versalis SpA, JSR Corporation, Dow Chemical Company , Eastman Chemical Company, China National Petroleum Corporation, Sibur International GmbH, ARLANXEO Holding BV
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Post time: Sep-23-2023