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Nitrile Rubber Market Key Competitors, Major Products and Services, Share Analysis, and Upcoming Trends to 2030

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Nitrile Rubber Market Key Competitors, Major Products and Services, Share Analysis, and Upcoming Trends to 2030

July 07
13:18 2022
Nitrile Rubber Market Key Competitors, Major Products and Services, Share Analysis, and Upcoming Trends to 2030
Reports and Data | Nitrile Rubber Market
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.

The global nitrile rubber market is expected to reach USD 3.48 Billion by 2030, according to a new report by Reports and Data. Nitrile rubber finds application in the automotive industry and several other industrial purposes in producing components, including dashboards, kick panels, and brake pads, among others. It is considered as the workforce of rubber products in end-use sectors. It is extensively deployed owing to its better heat resistance, puncture resistance, fuel resistance, and chemical resistance in comparison to natural rubber. Amongst its varied properties, the ability to sustain various temperature levels makes it beneficial in the aerospace applications. Physical characteristics like hardness and stiffness of nitrile rubber make it a suitable material for application in the nuclear industry.

Rising demand for disposable gloves in medical, automotive finishing, chemical, and oil and gas industries has been a prime factor driving the market in recent years. Moreover, the deployment of nitrile gloves in the food processing industry is probable to complement growth in market demand. Growing awareness pertaining to employee wellbeing and safety, coupled with increasing concern related to skin diseases in the industrial sector, is anticipated to propel the market over the forecasted period. Technological advancement, backed by the availability of customized designs to meet the requirements of specific industries, is estimated to have a positive influence on market demand.

COVID-19 ImpactRecommendations by WHO for the usage of personal protective equipment (PPE), such as gloves, in community and healthcare settings, along with cargo handling, may drive the market demand. Healthcare workers consider gloves on as an essential and first line of protection against contracting COVID-19 from patients, as well as these are vital for the protection of patients. Apart from this, the crisis owing to the COVID-19 pandemic is having a significant impact on the industry with product demand experiencing shocks across end-markets with the disruption of supply chains.

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Further key findings from the report suggest

  • By application, seals & O-rings contributed to the largest market share in 2019 and is expected to grow at a rate of 6.3% in the forecast period. Nitrile O-rings are possibly the most economical and extensively used elastomer in the market. Benefits of the product, mainly in areas where the seal may be exposed to oils, hydrocarbons, water, petrol, and hydraulic fluids, comprise excellent tear and abrasion resistance and low cost. Nitrile O-rings are used in automotive, aircraft fuel systems, and marine applications, among others.
  • By distribution channel, the online distribution channel is projected to grow at a faster rate of 8.2% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
  • By industry vertical, the automotive & transportation industry dominated the market in 2019 and is expected to grow at a rate of 6.3% in the forecast period. Nitrile rubber is used in the automotive industry to manufacture fuel and oil handling hoses, grommets, seals, and self-sealing fuel tanks, as ordinary rubbers cannot be used. Tires made from this rubber are popular for their ability to endure extreme temperatures and can retain their shape in spite of carrying heavy loads.
  • The market in the Asia Pacific region held the largest market share ad is likely to grow at a rate of 7.4% in the forecast period. The market dominance of the APAC region is attributed to the rapid urbanization, rise in the level of disposable income, and growth of the end-use industries, particularly the automotive and footwear industry.
  • Key participants include Lanxess, Kumho Petrochemical, Sinopec, TSRC Corporation, JSR Corporation, LG Chem, Versalis SPA, Zeon Corporation, Omnova Solutions Inc., and Sibur Holdings, among others.
  • In October 2019, synthetic elastomers producer Arlanxeo made an investment in nitrile butadiene rubber (NBR) and chloroprene rubber (CR) to cater to the growing demand for the polymers. The move has enhanced the plant’s capability and flexibility for increased production operations.
  • In June 2018, TSRC Corporation, a leading market player, declared that it had increased its share in Indian Synthetic Rubber Private Ltd. (ISRPL) to 50.0%. TSRC is optimistic regarding long-term economic development in India and confident in ISRPL’s enduring improvement. Thus, TSRC signed an agreement with Marubeni and increased its stake in ISRPL to 50.0%.

For the purpose of this report, Reports and Data have segmented the global nitrile rubber market on the basis of application, distribution channel, industry vertical, and region:

Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)

  • Linear
  • Cross-linked

Form Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)

  • Hydrogenated
  • Carboxylated

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)

  • O rings & Seals
  • Hoses
  • Belts & Cables
  • Adhesives & Sealants
  • Plastic foam
  • Industrial & Medical Gloves
  • Others

Industry Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2019 – 2030)

  • Automotive
  • Oil & Gas
  • Industrial
  • Medical
  • Construction
  • Metallurgy & Mining
  • Others

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