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.
APAC is the largest revenue contributor. The major reasons behind the growth of this market are the resistance to acids and oils and the higher strength and flexibility of nitrile butadiene rubber over natural rubber. Such advantages of this material make it more suitable in the aerospace and automobile sectors, which constantly growing in the region. A huge number of key manufacturers of auto components and automobiles operate in India, Japan, and China ultimately manufacturing auto components from this material.
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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 Sealed & O-rings will be the second-fastest growing category in the coming years. The rising workings of sealed & O-rings in car components, including braking systems, engines, doors, batteries, and power steering systems. As the automotive sector is booming, the nitrile butadiene rubber market will also grow along with it.
Molded & extruded category is estimated to grow at the third fastest rate, primarily because of NBR’s high temperature and chemical resistance. That is why this material is used to create molded rubber seals for high-pressure structures.
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.