Transparency Market Research, a global market intelligence company recently reported that the global Nitrile Butadiene Rubber (NBR) market is expected to reach US$2.7billion by 2018 with a CAGR growth of 5.9% from 2013 to 2018.
According to the report, the increase in the NBR demand is due to the developments in the global automotive sector as well as opportunities in the medical devices sector, brought by rising concerns against new diseases and health safety.
In 2011, 14.3% of the global rubber gloves market was taken by the NBR sector, which makes it a fastest growing product segment. Because of ongoing consistent development in the NBR sector its market share, it is expected to grow to 15.3%. By 2018 is expected with 82% of this share coming from the rubber gloves; Malaysia, being the world’s largest producer of NBR gloves, account for 62% of the global market shares. (RJA)