Nitrile Butadiene Rubber Latex Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027. Growing demand of Nitrile gloves in healthcare industry is a key driving factors for the growth of Global Nitrile Butadiene Rubber Latex Market.
Nitrile Butadiene Rubber Latex Market is valued at USD 1.14 Billion in 2021 and expected to reach USD 2.35 Billion by 2027 with a CAGR of 7.5% over the forecast period.
Nitrile Butadiene Rubber Latex (NBR) has milky colur texture and a liquid form, it is also known as Nitrile Rubber, Buna-N, and Acrylonitrile Butadiene Rubber, derived from Butadiene and Acrylonitrile is a synthetic rubber. Nipol, Europene, Krynac and Perbunan are trade names for this material. They have been widely used in Industrial and Medical areas due to their resistant to fuel, oil and other chemicals. NBR remains stable in -40 to 108 degree Celsius which makes it an essential material in applications like automotive and aeronautical industries. Other important features of NBR includes resistant to acids and alkaline, superior strength, inferior flexibility and puncture resistant. Other applications of NBR consist of floor mats, footwear, adhesives, sponges, sealants, moulded goods and expanded foams.
Global Nitrile Butadiene Rubber Latex Market report is segmented on the basis of type, application and region & country level. Based upon application, global Nitrile Butadiene Rubber Latex market is classified into gloves and others. Based upon the end user, global Nitrile Butadiene Rubber Latex market is classified into Medical area and Industrial area.
By End User Type:
By Application Type:
The regions covered in this Global Nitrile Butadiene Rubber Latex Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Nitrile Butadiene Rubber Latex is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia, Africa, etc.
Some major key players for Global Nitrile Butadiene Rubber Latex Market are LG Chem Ltd., JSR Corporation, Omnova Solutions, PetroChina Company Limited, Industrias Eliokem, Industrias Negromex, Korea Kumho Petrochemical Co. Ltd., Lanxess AG, Nantex Industry Company Ltd., Nitriflex, Polimeri Europa, Zeon Corporation and others.
News: Glove Material Plant to be build by Malaysia’s Petronas and LG Chem
August 24, 2020; The article published in Nikkei Asia states the agreement signed between two renowned groups, Petronas is a state energy company and LG Chem, a South Korean based chemical company to construct a manufacturing plant in Malaysia for production of Nitrile butadiene latex for making synthetic rubber gloves. Plant construction will begin in 2021 followed by production in 2023. The initial production capacity is said to be 200,000 tons of Nitrile Butadiene latex a year and no investment values were revealed. Petronas has stepped into the market because of growing demand for Nitrile gloves in healthcare industry due to COVID-19.
Hong Seng to buy land in Kedah Rubber City (KRC) to setup NBR latex plant
December 28, 2020; The article published in The Edge Market reported the acquiring of land in KRC for RM45.74 million by Hong Seng Consolidated Bhd. The company got the offer from Northern Corridor Implementation Authority (NCIA) to acquire the 105 acres of land to set up the plant.
The major factor driving the growth of global Nitrile Butadiene Rubber Latex market is the increasing demand of Nitrile gloves in the healthcare sector. This growing in demand is due to the current pandemic situation COVID-19. To prevent the infections, the rise in demand for nitrile gloves is expected to 70% of entire latex industry in 2024. Additionally, wide applications in various industries along with increase in occupation safety of the employees working in hazardous environment is also expected to create demand for Nitrile Butadiene Rubber latex. However, stringent environment policies regarding excessive use of rubber along with as well as availability of substitute materials is expected to hinder the market growth. On the other hand, constant expansion of Nitrile Butadiene Rubber Latex in various industries along with untapped opportunities in the developing economies is further expected to promote the market growth.
Asia-Pacific is expected to dominate the global Nitrile Butadiene Rubber Latex market within the forecast period attributed to rise in demand of Nitrile gloves around the globe. Furthermore, presence of major manufacturers in the followed by the large consumer base is also expected to develop at a significant rate owing to increased use gloves due to the COVID-19 pandemic. Furthermore, wide applications in various industries along with wide use of gloves in various industries followed by the high consumer awareness is also expected to fuel the market growth over the forecast period.
|Historical data||2015 - 2020|
|Forecast Period||2021 - 2027|
|Market Size in 2020:||USD 1.14 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||
|Market Size Expected in 2027:||USD 2.35 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||LG Chem Ltd., JSR Corporation, Omnova Solutions, PetroChina Company Limited, Industrias Eliokem, Industrias Negromex, Korea Kumho Petrochemical Co. Ltd., Lanxess AG, Nantex Industry Company Ltd., Nitriflex, Polimeri Europa, Zeon Corporation and others|
|Segments Covered||By End User Type, By Application Type|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|
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