Global Nitrile Butadiene Rubber Powder Market Size to Exceed USD 970.28 Million by 2033 | CAGR of 5.59%
Category: Chemicals & MaterialsGlobal Nitrile Butadiene Rubber Powder Market Size to Exceed USD 970.28 Million by 2033
According to a research report published by Spherical Insights & Consulting, The Global Nitrile Butadiene Rubber Powder Market Size is Expected to Grow from USD 563 Million in 2023 to USD 970.28 Million by 2033, at a CAGR of 5.59% during the forecast period 2023-2033.
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Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the "Global Nitrile Butadiene Rubber Powder Market Size, Share, and COVID-19 Impact Analysis, By Type (Medical Grade, Automotive Grade, Industrial Grade), By Application (Medical Devices, Automotive Components, Industrial Products, Consumer Products), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/nitrile-butadiene-rubber-powder-market
Nitrile butadiene rubber (NBR) is a synthetic rubber produced by polymerizing butadiene and acrylonitrile. Oil, fuel, and chemical resistance make it robust, flexible, and wear-resistant. Powdered NBR is utilized in the automotive, healthcare, manufacturing, and consumer goods industries to improve product performance. Moreover, the growing demand for long-lasting, high-performance materials in a variety of industries, including automotive, healthcare, and manufacturing, is driving the NBR powder market. The increased consumer demand for oil-resistant products, technological breakthroughs in material compositions, and a greater emphasis on sustainability are all contributing to market expansion. Furthermore, the expansion of infrastructure and industrialization in developing nations, as well as stronger safety and environmental requirements, are helping to drive market growth. However, the NBR powder market is further limited by the high production costs associated with specialized formulas and raw materials. Low awareness in some locations, combined with competition from alternative materials such as silicone and thermoplastics, might potentially limit expansion.
The automotive grade segment dominated the market in 2023 and is projected to grow at a CAGR during the projected timeframe.
Based on the type, the nitrile butadiene rubber powder market is divided into medical grade, automotive grade, and industrial grade. Among these, the automotive grade segment dominated the market in 2023 and is projected to grow at a CAGR during the projected timeframe. The rising automotive need for oil-resistant seals, gaskets, and hoses drives up the demand for NBR powder. Adaptation to electric vehicles, advancements in engine technology, and global regulatory requirements for high-performance materials are all increasing demand for durable and high-quality automotive-grade NBR powder, driving market expansion.
The medical devices segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe.
Based on the application, the nitrile butadiene rubber powder market is divided into medical devices, automotive components, industrial products, and consumer products. Among these, the medical devices segment accounted for the highest share in 2023 and is anticipated to grow at a remarkable CAGR during the projected timeframe. This is primarily due to increased demand for medical gloves and personal protective equipment (PPE). This can be attributed to global health awareness, pandemics, and increased healthcare standards. Furthermore, expansion of the healthcare infrastructure, particularly in developing markets.
Asia Pacific is anticipated to hold the majority share of the global nitrile butadiene rubber powder market over the predicted timeframe.
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Asia Pacific is anticipated to hold the majority share of the global nitrile butadiene rubber powder market over the predicted timeframe. This can be attributed to increased industrialization, a thriving automotive and healthcare industry, and rising demand for NBR powder in medical devices, automotive components, and other industrial products. China, India, and Japan are the key contributors in this regard, particularly due to the growth of industrial capacity, the development of healthcare infrastructure, and the increase in the automotive industry, including electric vehicles.
North America is expected to grow at the fastest CAGR in the global nitrile butadiene rubber powder market during the forecast period. This is due to increased demand for NBR powder from automotive, healthcare, and industrial applications is likely to drive its expansion. The trend continues, with a greater emphasis on electric vehicles, safety and environmental standards, and advancements in medical technology.
Major vendors in the global nitrile butadiene rubber powder market are Emerald Performance Materials LLC, JSR Corporation, Kumho Petrochemical, LANXESS AG, LG Chem Ltd., Nantex Industry Co. Ltd., Nitriflex SA, OMNOVA Solutions Inc., SIBUR Holding, Synthos SA, TSRC Corporation, Versalis S.p.A, ZEON Corporation, and Others.
Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In November 2023, SKFC announced the creation of its first food and beverage-specific spherical roller bearing. The new bearing is made of high-performance nitrile butadiene rubber, which is EC and FDA-approved and resistant to water, pollutants, and detergents.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global nitrile butadiene rubber powder market based on the below-mentioned segments:
Global Nitrile Butadiene Rubber Powder Market, By Type
- Medical Grade
- Automotive Grade
- Industrial Grade
Global Nitrile Butadiene Rubber Powder Market, By Application
- Medical Devices
- Automotive Components
- Industrial Products
- Consumer Products
Global Nitrile Butadiene Rubber Powder Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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