The global Fast Curing Nitrile Butadiene Rubber Market was valued at USD 502.09 Million, and as per the latest report from Reports and Data, it is projected to exhibit a 4.4% compound annual growth rate (CAGR) in revenue over the forecast period.
Fast Cure Nitrile Butadiene Rubber (NBR) is a highly valuable polymer that undergoes a hot curing process. It boasts various advantageous properties, including strong sealing capabilities, exceptional resistance to oil, a short curing time, and a reduction in mildew occurrence on shop floors. The increasing significance of high-temperature molding through polymer treatment for manufacturing products in sectors like construction, oil gas, and automotive is anticipated to be a driving force behind the rising demand in the market.
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Top Leading Players: LG Chemicals, JSR Corporation, Lanxess AG, Zeon Chemicals, Kumho Petrochemical Co., Ltd., Huangshan Hualan Technology, PetroChina Company Limited, BASF SE, Sinopec, and TSRC Corporation, among others.
Key Companies in the market include:
- Molded and extruded products are expected to grow at a rate of 3.6% during the forecast period. Increased investment in high-temperature injection molding for the production of goods related to the construction and automotive industries, due to growing applications in developing countries, is expected to drive demand for this segment.
- Online stores accounted for 26.6% market share in 2019. Products have traditionally been purchased only from physical stores, but due to increasing internet penetration, especially in developing countries, there is slow growth for online stores.
- Construction is expected to grow at a CAGR of 4.1% during the forecast period. This is mainly due to the rapid industrialization of countries such as China, Mexico and India. Demand for products such as gaskets, extrusion and casting products is therefore increasing across regions, driving demand for the construction segment.
- Europe is expected to grow at a CAGR of 3.7% during the forecast period. This is mainly due to the presence of countries such as Germany, Spain, France, Italy and the United Kingdom, where the automotive industry has a strong presence. However, a slowdown in the growth rate of the manufacturing sector in countries such as the UK and Germany is expected to lead to a slowdown in the hardening NBR market in Europe. The Middle East and Africa is expected to grow by 2.2% between 2020-2027. The announcement by the Saudi government of the establishment of new vehicle manufacturing units in the country, which will lead to increased use if NBR rapidly cures in the seal material, is expected to promote market demand in the region.
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico)
Europe (Italy, U.K., Germany, France, Rest of Europe)
Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
Driver: Rising demand of fast curing nitrile butadiene rubber in the automotive and healthcare sector
Automotive and the oil and gas industries both heavily rely on specialized rubber products, which must adhere to strict standards of oil resistance. They require solutions that deliver best performance at a reasonable price, whether they are working with mineral oils or service lubricants and greases in automotive applications. For instance, high-quality NBR rubbers made by ARLANXEO and marketed under the Perbunan, Krynac, and Baymod are one of the options.
Fast curing nitrile butadiene rubber is economical and is used to make medical gloves. NBR has qualities such as being puncture-resistant and making it simple to identify wear and tear and due to this, it is chosen over latex and isoprene gloves. Along with medical instruments and devices, NBR is employed in stoppers, tubes, and supporting cushioning materials.
Segments covered in the report:
Distribution Channel Outlook (Revenue, USD Billion; 2019-2030)
- Offline Stores
- Online Stores
Product Outlook (Revenue, USD Billion; 2019-2030)
- Rivets Hoses
- Belts
- Cables
- Molded and Extruded Products
- Seals and O-rings
- Rubber Compounds
- Adhesives and Sealants
- Gloves
- Foamed Products
- Others
Application Outlook (Revenue, USD Billion; 2019-2030)
- Automotive
- Mechanical Engineering
- Oil Gas Production
- Mining
- Metallurgical
- Construction
- Medical
- Others
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