The global nitrile butadiene rubber (NBR) latex market value is expected to reach around US$ 2860.1 Mn by 2026, growing at a CAGR of 15.4% over the forecast period 2019 to 2026.
Nitrile butadiene rubber (NBR) latex is a type of synthetic latex in liquid form with milky color. It’s a part of unsaturated acrylonitrile and butadiene copolymers family. NBR latex properties include excellent tensile strength and good resistance to various oils including mineral & vegetable oils, benzene/petrol, ordinary diluted acids, and alkalines. It is used as the key part of medical and industrial applications, where oil, fuel and chemical resistance is required. Nitrile butadiene rubber (NBR) is used for manufacturing fuel and oil hoses, seals and grommets and water handling applications in automotive industry. Also, used for making laboratory and other gloves including disposable lab, cleaning, and examination gloves.
The increasing demand for NBR gloves in the medical sector owing to increasing investment in the healthcare industry is driving the market growth. The gloves are used in examinations and surgeries to restrict microorganisms transmission in the patient. The increasing demand for disposable gloves in the industrial sector, particularly in the food industry is also accelerating the market value. The increasing concern for the safety of employees working in hazardous conditions is further propelling the demand for gloves in the market. For instance, the Occupational Safety and Health Administration (OSHA) imposed a mandatory regulation on industrial and manufacturing firms to provide high-quality safety equipment to the workers operating under unsafe conditions.
The, environmental regulations associated with the formulation and use of rubber owing to the increasing environmental concern is likely to hamper the market growth. Additionally, the availability of substitute materials in the market is further expected to limit market growth. Whereas, increasing end-user industries in developing economies across the globe is projected to create potential opportunities over the estimated period 2019-2026.
Industrial grade NBR latex dominated the market with maximum share in 2018
The industrial-grade NBR latex accounted for the large market share in the year 2018. The rapid industrialization in the developing economies is primarily driving the market growth. The increasing demand for disposable gloves because of less maintenance cost is also propelling the market growth. The increasing demand from cleanrooms is further supporting the segment growth.
Industrial applications accounted for the maximum market share on NBR latex market
In 2018, on the basis of application, industrial segment dominated the market owing to the availability of a wide range of products in the market for industrial use. The increasing demand for gloves from chemicals, automotive, and electronics industry for workers' safety is also supporting the market value. Along with these, rapid industrialization is pushing the demand for NBR latex in innovative products is further propelling the market growth.
The market research study on “Nitrile Butadiene Rubber (NBR) Latex Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global nitrile butadiene rubber (NBR) latex market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global nitrile butadiene rubber (NBR) latex market, its product, end-user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global nitrile butadiene rubber (NBR) latex market size, and segment markets by product, end-user, and geography along with the information on companies operating in the market. The nitrile butadiene rubber (NBR) latex market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
Asia Pacific dominated the global NBR latex market in 2018
Geographically, Asia Pacific held the maximum market share of the NBR latex market and the segment is expected to maintain its dominance over the forecast period. The developed countries in the region, Japan and South Korea is developing industrial robots for electronics and semiconductor industry is driving the regional market growth. Also, the developing economies of the region including China & India are further supporting the regional market growth.
The players profiled in the report include LG Chem, Zibo Elim Trade Co., Ltd., Zeon Chemicals, Omnova Solutions, Kumho Petrochemicals, Nantex, Apcotex Industries Limited, and Synthomer plc. The major players are involve in various mergers and acquisition for expanding the market share.
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Middle East & Africa
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