According to a report by Zion Research, the global nitrile-butadiene rubber market was valued at approximately US$300 million in 2014 and is expected to reach approximately US$485 million by 2020, growing at a CAGR of slightly above 6.0% between 2015 and 2020. In terms of volume, global nitrile-butadiene rubber market stood at 75.0 kilo tons in 2014.
The major driving factor of nitrile-butadiene rubber market is strong demand for manufacturing different automotive components such as brake lining, dash boards and kick panels. Increasing demand from medical & industrial gloves industry is another key factor that contributes market growth during the forecast period. Moreover, developing infrastructure coupled with rising industrialization worldwide is expected to further fuel the market growth. However, environmental awareness and price volatility are expected to hamper the growth of NBR market in the years to come.
The nitrile butadiene rubber market is classified on the basis of various applications such as medical & industrial gloves, hose, cable & belting, adhesive & sealants, molded & extruded products, o rings & seals and others. Hose, cable & belting was one of the leading application segments for nitrile butadiene market in 2014. It accounted for over 25.0% market share of the total volume consumed in 2014. It is expected to exhibit rapid growth with significant CAGR between 2015 and 2020. This growth can be attributed to rising demand for hose, belts & cable from manufacturing industries. Adhesives & sealants, o-rings & seals are other important segments for nitrile-butadiene rubber. Medical & industrial gloves segment is also expected to exhibit fastest growth during the forecast period.