The nitrile butadiene rubber market has captured $2,170.8 million in revenue in 2021, and it is projected to advance at the rate of 4.6% from 2021 to 2030, to capture $3,258.9 million in revenue in 2030, as per a research report by a P&S Intelligence. This is accounted to the snowballing demand for this material from the medical, automotive, oil, and gas industries, which need oil resistance.
In 2021, China dominated the regional market as the largest stakeholder, because of the increasing need for this material from the automotive sector. The nation is also one the biggest manufacturer of both consumer and industrial goods globally.
In 2021, the automotive industry had the largest share nitrile butadiene rubber market at approximately 38.8%. NBR has applications in automobile injection-molded and lathe-cut seals, cables, O-ring seals, and other components that require to handle extreme corrosion and temperatures.
The O-rings aid in sticking the joints between two parts and avoids leakage within the car. With the growth in the acceptance of EVs, coupled with technological enhancements, the automotive industry is observing growth, which will eventually propel the industry.
The Hoses category is projected to grow at the highest pace of around 5% in the coming years. Manufacturers can make innovative items such as nitrile buna-N rubber’s properties can be changed by changing the quantity of acrylonitrile. If wanted it can be more elastic, more abrasion resistant, more heat resistant, and very tough to break.
Therefore, the snowballing demand for this material from the medical, automotive, oil, and gas industries, which need oil resistance will drive the nitrile butadiene rubber market in the future.
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