Nitrile Butadiene Rubber Latex Market

Industry Insights-

• The Global Nitrile Butadiene Rubber Latex Market was valued at USD 1.14 Billion in 2021
• It is anticipated to reach USD 2.35 Billion by 2027
• A CAGR of 7.5% is anticipated over the forecast period

Overview-

Nitrile Butadiene Rubber Latex (NBR) has milky colour 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 degrees 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.

Covid-19 Impact-

The COVID-19 pandemic had a significant effect on trends in the nitrile butadiene rubber latex market. The automotive industry faced a downturn in sales, reducing the demand for NBR latex materials. Simultaneously, the medical & healthcare sector saw an upsurge in cases of coronavirus, dramatically increasing the need for medical tools and materials made with nitrile butadiene rubber latex. In the post-pandemic era, the industry has been further spurred on by government efforts to promote the use of biodegradable materials for medical tools.

Key Players-

Some of the 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
• Braun Melsungen AG
• Thermo Fisher ScientificInc
• Standard Reagents Pvt. Ltd.
• Pfizer Inc
• Zibo Elim Trade Co. Ltd.
• others

Segmentation Analysis-

By Application Type:

• Gloves
• others

The NBR gloves segment is projected to hold a major market value share in the global gloves market during the analysis period. This is mainly due to its rising implementation in the medical and healthcare sector, which is contributing major demand for gloves. Additionally, the increasing investment in the healthcare infrastructure, particularly in emerging economies such as China, India, and South Korea, is expected to drive the growth of the NBR gloves segment during the analysis period. Furthermore, the technological advancements and innovations in the production of NBR gloves are likely to create opportunities for the segment in the market.

By End User Type:

• Industrial area
• Medical Area

The healthcare end-user segment has emerged as a prominent player in the global NBR latex market. This is largely attributed to the high demand for NBR gloves due to their excellent chemical resistance, wear resistance, and rebound resilience. The outbreak of the COVID-19 pandemic has further escalated the demand for NBR latex gloves, significantly driving the growth of the NBR latex market.

Additionally, the use of NBR latex is rapidly gaining traction in food processing industry as it helps in preventing contamination of food products. This is anticipated to drive the demand for NBR latex in the near future. Furthermore, the increasing demand for non-allergic products, especially in the medical industry is further estimated to favor the growth of NBR latex market.

The increasing demand for food safety and hygiene across the globe is driving the growth of the NBR latex market. The demand for NBR latex gloves in food industry is rising due to their properties such as their ability to protect the hands from contamination, prevent allergies, and are comfortable to wear. Furthermore, NBR latex gloves also possess properties such as good strength, high puncture resistance, and good chemical resistance, which also drives their demand in the food industry. Additionally, the growing awareness among the consumers regarding food safety and hygiene is further contributing to the growth of the market.

By Region:

• North America

  • U.S.
  • Canada

• Europe

  • U.K.
  • France
  • Germany
  • Italy

• Asia Pacific

  • China
  • Japan
  • India
  • Southeast Asia

• Latin America

  • Brazil
  • Mexico

• Middle East and Africa

  • GCC
  • Africa
  • Rest of Middle East and Africa

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.

Market Drivers-

Growing demand of Nitrile gloves in healthcare industry

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.

Market Opportunities-

Wide use of NBR latex in the manufacturing of food-grade and medical gloves to create opportunities

The increasing demand for nitrile butadiene rubber latex due to its properties is expected to propel the market outlook. The COVID-19 pandemic has led to an upsurge in the demand for gloves, and nitrile gloves are considered to be cost-effective and easy to supply in different parts of the world. This is likely to drive product uptake in the near future.

Recent Developments-

• 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.
• 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.

Report Analysis	Details
Historical data	2016 - 2021
Forecast Period	2022 - 2029
Market Size in 2021:	USD 1.14 Billion
Base year considered	2021
Forecast Period CAGR %:	7.50 %
Market Size Expected in 2027:	USD 2.35 Billion
Tables, Charts & Figures:	175
Pages	300
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, Braun Melsungen AG, Thermo Fisher ScientificInc, Standard Reagents Pvt. Ltd., Pfizer Inc, Zibo Elim Trade Co. Ltd., 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