Nitrile Butadiene Rubber (NBR) Latex Market Size Worth $4.6 Bn by 2028 | Vantage Market Research

WASHINGTON, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Global Nitrile Butadiene Rubber Latex Market is expected to reach USD 4.6 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2028.

Nitrile Butadiene Rubber Latex (NBR) is one of the most commonly used rubber compounds across a wide range of industries. Vantage Market Research has analyzed the Nitrile Butadiene Rubber Latex market and provides profound insights into it. The study covers various product categories, including natural rubber and synthetic NBRs. It also discusses market trends and offers forecasts up to 2028.

The report sheds light on the market drivers, including growing content demand from the automotive, construction, engineering, medical devices, and appliance sectors. Vantage Market Research has carried out a detailed analysis of the Nitrile Butadiene Rubber Latex Market to identify key trends and challenges. The report covers topics such as market drivers, product segments, value chain overview, market opportunities, and industry dynamics. The report provides insights into the competitive landscape, future prospects, and key investment considerations for businesses operating in the NBR market.

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Nitrile Butadiene Rubber Latex Market Overview

Nitrile butadiene rubber (NBR) is one of the most popular types of synthetic rubber. It has a range of properties that make it a good choice for a number of applications, including medical devices, energy storage, and construction materials. NBR is also environmentally friendly, making it well-suited for use in products that require sustainable practices.

The growing demand for Nitrile Butadiene Rubber Latex Market has led to a rise in production capacity. In 2017, global production reached 36 million metric tons, an increase of 7% from the previous year. This growth is expected to continue in the coming years thanks to rising demand from both commercial and industrial users.

One major catalyst behind this increased demand is the increasing popularity of electric vehicles. According to forecasts by Bloomberg NEF, global sales of electric cars are expected to reach 17 million units by 2025 – more than double the current market size – which will correspondingly increase the demand for batteries and other components made from lithium-ion based materials such as NBR.

Another factor contributing to the growth in Nitrile Butadiene Rubber Latex Market is evolving engineering standards. Led by automotive manufacturers such as Ford and Toyota who are increasingly looking for materials resistant to wear and tear, particularly in manufacturing parts such as gearboxes and drive shafts, more companies are turning to NBR as an option for these applications.

Key Report Findings

• In terms of revenue, the Global Nitrile Butadiene Rubber Latex Market is expected to reach USD 4.6 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2028.
• The growth in this industry is due to the increasing demand for synthetic rubbers in various markets such as automotive, medical, and electrical applications. The key market drivers for this industry include increasing adoption of electric vehicles and rising consumer spending on goods related to health and safety.
• Natural rubber latex accounts for the largest share in the NBR market with a share of more than 60%. EBR has emerged as a significant player in the market due to its high-performance properties such as good resilience, low tear and low flammability.
  

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What Drives the Growth of the Nitrile Butadiene Rubber Latex Market

• Nitrile Butadiene Rubber (NBR) is a durable and versatile rubber compound that has seen increasing demand in recent years as it becomes increasingly popular for a variety of applications, including medical devices, automotive parts, and construction materials.
• One reason for the popularity of NBR is its low reactivity, which makes it ideal for numerous applications where sensitive components are needed. Additionally, NBR has good resilience and elasticity properties, making it a desirable material for products that must withstand high loads or repeated flexing.
• Another key factor contributing to the growth in Nitrile Butadiene Rubber Latex Market usage is its versatility. This compound can be easily modified to match a wide range of requirements, making it an ideal option for a variety of applications. In addition to its widespread use in industrial products, NBR is also being increasingly used in medical devices and automotive parts due to its superior performance and reliability.
• NBR can also be made into flexible materials, which makes it a popular choice for products that need to stretch or contract. This includes things like bicycle tires and air bags. Because of these benefits, the demand for NBR is growing rapidly. Manufacturers are looking for alternatives to traditional rubber materials, and NBR seems to be the perfect option for many products.

Top Trends in Global Nitrile Butadiene Rubber Latex Market

• The nitrile butadiene rubber latex market is witnessing a major transformation as new technologies are being developed to improve the quality and performance of the product. In this report, we will discuss some key trends that are shaping the market.
• One trend that is gaining momentum is the use of nanotechnology in the manufacture of NBR products. By using nanoparticles, manufacturers can achieve better process control and improve overall product quality. Additionally, this technology can also reduce production costs by eliminating waste products and improving efficiency.
• Another trend that is gaining traction in the Nitrile Butadiene Rubber Latex Market is the development of specialty grades. These grades are designed for specific applications such as oil & gas, automotive, medical devices, and sports equipment. In addition, these grades often have increased durability and performance specifications than traditional NBR products.
• One trend is increased demand from the tire industry. More and more vehicles are being designed with smaller tires, which requires a material that can withstand high temperatures and pressures. Nitrile butadiene rubber is a good option because it has good heat resistance and resilience. Other trends in the nitrile butadiene rubber latex industry include increasing demand from the electronics and appliance industries, which is due to the increasing use of these products in outdoor environments. The growing popularity of biodegradable materials also drives increased demand for nitrile butadiene rubber latex products, as these materials are environmentally friendly.
• Lastly, the Nitrile Butadiene Rubber Latex Market is seeing a shift towards green chemistry in the manufacture of NBR products. This approach involves minimizing environmental impact while delivering high-quality products. By adopting green chemistry techniques, manufacturers can save valuable resources and reduce emissions from their manufacturing processes.
  

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Market Players Likely to Increase Prices of Nitrile Butadiene Rubber Latex

Nitrile Butadiene Rubber Latex (NBR) prices are likely to increase in the coming years, as the players in the global Nitrile Butadiene Rubber Latex Market face stiff competition from synthetic rubber alternatives. The global demand for NBR is forecast to grow at a CAGR of around 4.8% over the next seven years, due to rising automotive and construction sectors. However, this growth will be met with increasing competition from other synthetic rubbers such as acrylic and polyethylene terephthalate (PET), which are cheaper on a per-pound basis. This is likely to result in price hikes of NBR products, as producers seek to maintain their market share.

The increasing demand for Nitrile Butadiene Rubber Latex Market is attributed to increasing use in automobiles and other high-performance vehicle applications. The automotive sector accounts for a major share of global NBR consumption, with product utilization reaching 90% in some cases. The aerospace and engineering sectors are also expected to benefit from the growth in the automotive market, especially as new regulations mandate more environmentally friendly vehicles. In addition, other industrial applications such as construction materials and medical devices are also expected to witness increased demand in the near future.

Despite this growth, there are some constraints that could limit prices of NBR in the short term. Supply is still tight despite output increases from key producers, indicating that there may be further price hikes in the future if production does not keep pace with rising demand.

Top Players in Global Nitrile Butadiene Rubber Latex Market

• B. Braun Melsungen AG
• Merck KGaA
• Thermo Fisher Scientific Inc.
• Baxter International Inc.
• Intermountain Life Sciences
• Cytiva (Danaher)
• Standard Reagents Pvt. Ltd.
• FUJIFILM Irvine Scientific
• CovaChem LLC
• Pfizer Inc.
• Fresenius Kabi AG
  

Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Nitrile Butadiene Rubber Latex Market Forecast Report (2022-2028).

Global Nitrile Butadiene Rubber Latex Market is Segmented as follows:

• Application
  • Gloves
  • Cotton
  • Other Applications
• End User
  • Healthcare
  • Industrial
  • Food
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional Analysis:

North America: The United States and Canada are the major countries contributing to the Nitrile butadiene rubber latex Market growth in this region. The US is one of the largest consumers as well as producers of synthetic rubber. The production of synthetic rubber in the US is expected to grow at a CAGR of 3.5% during the forecast period. The demand for Nitrile butadiene rubber latex is also increasing due to its growing applications in various industries, such as automotive, construction, and healthcare.

Europe: Germany, France, Italy, Spain, and the UK are some of the major countries contributing to the Nitrile butadiene rubber latex Market growth in Europe. The production of synthetic rubber in Europe is expected to grow at a CAGR of 2.5% during the forecast period. Increasing demand for passenger cars and commercial vehicles is resulting in increased production of tires, which is driving the growth of the Nitrile butadiene rubber latex Market in this region.

Asia Pacific: China, India, Japan, South Korea, and Australia are some of the major countries contributing to the Nitrile butadiene rubber latex Market growth in Asia Pacific. Asia Pacific is the fastest-growing market for Nitrile butadiene rubber latex and is expected to grow at a CAGR of 6.2% during the forecast period. China and India are the major contributors to the growth of this market due to the increasing demand from various end-use industries such as automotive and healthcare. Latin America is expected to grow at a CAGR of 4.8% from 2022 to 2028. The growing demand for Nitrile butadiene rubber latex from the automotive and construction industries in Brazil and Mexico is expected to drive the growth of the Nitrile butadiene rubber latex Market in Latin America. The Middle East & Africa is expected to witness slow growth during the forecast period. The low per capita income and lack of awareness about Nitrile butadiene rubber latex in this region are some of the factors restraining the growth of the Nitrile butadiene rubber latex Market in this region.

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