The global nitrile rubber market size was USD 2.10 Billion in 2021 and is expected to register a revenue CAGR of 5.7% during the forecast period. Rising demand for water-resistant, oil-resistant, tear-resistant, and grease-proof synthetic rubber polymer in different industries is expected to drive market revenue growth. Nitrile rubber, also known as nitrile-butadiene rubber, is a synthetic rubber processed from a copolymer of butadiene and acrylonitrile molecules. This rubber has a wide range of applications specifically in fuel hoses, rollers, gaskets, and others owing to its oil resistance property and different industries, such as medical, oil & gas, automotive, metallurgy & mining, is rising owing to its easy access, availability, and less expensive price range. A few grades of nitrile rubber are even compatible with Polyvinyl Chloride (PVC), which offers more benefits including resistance against flame, petrol, ozone, aging, and other parameters and are expected to drive growth of nitrile rubber globally. For instance, on 8 June 2022, Makita U.S.A., Inc., a professional tool and power equipment manufacturer, announced to launch FitKnit Cut Level 1 Nitrile Dipped Gloves, which provide better control and optimal flexibility. Nitrile coating provides fluid-resistant, oil-resistant, and improved grip, which is expected to be used ideally for box handling, construction, repairing, and home improvement.
Top Companies Operating in the Global Nitrile Rubber Market:
Lanxess, China Petrochemical Corporation, Kumho Petrochemical, TSRC, JSR Corporation, Versalis S.p.A., Zeon Corporation, Omnova Solutions Inc., Apcotex Industries Limited, and LG Chem.
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Nitrile rubber, the strongest among other synthetic rubber is used in fuel and oil owing to its fire resistance property. This rubber compounded with other chemicals, such as silicone, ethylene acrylic elastomer, natural rubber, neoprene, and nitrile along with fire-retardant additives makes it fire resistant, which is one of the most used gasket materials in the gasoline industry. Also, it is used for manufacturing O-rings, gaskets, automotive transmission belts, oil seals, V belts, hoses, disposable non-latex gloves, synthetic leather, cable jacketing, and printer’s form rollers and all of these have applications in various industries. During covid-19, one of the most used products in clinics, hospitals, and pathology centers was hand gloves, which are made from nitrile rubber, as this material is ideal for corrosive and hazardous chemicals, if handled potentially. Puncture-resistant property makes it suitable for use in medical environments and eliminates risks from latex allergy reactions. Multiple benefits of using nitrile rubber encourage manufacturers to use it for various purposes, which is expected to drive market revenue growth.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The Nitrile Rubber market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Nitrile Rubber market.
The global Nitrile Rubber market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook:
- Linear
- Cross-linked
Form Outlook:
- Hydrogenated
- Carboxylated
Application Outlook:
- O rings & Seals
- Hoses
- Belts & Cables
- Adhesives & Sealants
- Plastic foam
- Industrial & Medical Gloves
- Others
Industry Outlook:
- Automotive
- Oil & Gas
- Industrial
- Medical
- Construction
- Metallurgy & Mining
- Others
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