The global nitrile butadiene rubber (NBR) market is expected to reach USD 2.59 billion by 2025, growing at a CAGR of 3.3%
Asia Pacific is expected to provide ample scope for the industry growth of NBR by the end of 2025. China, India, and Southeast Asian countries are likely to reflect a strong growth scenario in the future.
NBR is one of the versatile synthetic rubbers that is highly consumed in high end applications, which require the product to be highly sustainable to varying operational and climatic conditions. This makes the product suitable for use in a wide array of industries.
NBR demand in China and India is expected to be driven by significant industrial developments of key end-use sectors in the region including automotive & transportation, metallurgy & mining, oil & gas, equipment & machinery, and medical sectors. These recent developments have propelled the requirements of mechanical goods such as cables, belts, gaskets, and seals.
Rise in the consumer disposable income and purchasing power in ASEAN countries including Indonesia and Thailand, has led to a rapid growth of the automotive industry as well as a strong increase in aftermarket activities. Moreover, increase in the healthcare expenditure in these countries is another key factor that is expected to boost the consumption of nitrile gloves by 2025.
(RJA)
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