The global nitrile butadiene rubber market revenue is expected to expand at a lucrative CAGR over the forecast period. Rising demand for nitrile in end-use industries such as automotive, oil & gas, and medical owing to its properties such as resistance to oil, fuel, chemicals, and heat is expected to be a major factor driving revenue growth of the market.
The global nitrile butadiene rubber market report has been segmented on the basis of product, application, and region.
On the basis of product, the global nitrile butadiene rubber market has been segmented into hoses, belts & cable, O-rings & seals, molded and extruded products, gloves, others (rubber compounds and foamed products). Molded and extruded products segment is expected to witness steady growth rate over the forecast period. Rising demand for molded nitrile gaskets owing to their high tensile resistance property is expected to support revenue growth of the segment over the forecast period.
On the basis of application, the global target market has been segmented into automotive, medical, oil& gas, mining &metallurgy, and others (mechanical engineering and building & construction). Oil & gas segment is expected to witness higher growth rate over the forecast period. In the oil & gas industry, nitrile butadiene rubber is used in sealing, rubber to metal bonded components, molding components, and connector components owing to properties such as resistance from fuels, oils, and solvents.
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On the basis of region, the global nitrile butadiene rubber market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Latin America market is expected to grow at a steady rate over the forecast period. Growing automotive, building & construction, and medical industries in the region are expected to support revenue growth of Latin America nitrile butadiene rubber market.
Key players operating in the global nitrile butadiene rubber market include Lanxess AG, Kumho Petrochemical Co., Ltd., Zeon Chemicals L.P., Sinopec, JSR Corporation, TSRC Corporation, Synthos S.A., LG Chem Ltd., Versalis SpA, and Atlantic Gasket Corporation.