Global Nitrile Rubber (NBR) market is expected to reach 3,744 million USD by the end of 2023

The global Nitrile Rubber (NBR) market is valued at 2,285 million USD in 2016 and is expected to reach 3,744 million USD by the end of 2023, growing at a CAGR of 7.31% between 2016 and 2023.

Publisher: QYResearch

Published Date: 2018/8/24

Nitrile rubber (NBR), also called nitrile-butadiene rubber, an oil-resistant synthetic rubber produced from a copolymer of acrylonitrile and butadiene. Its main applications are in fuel hoses, gaskets, rollers, and other products in which oil resistance is required.

Nitrile rubber is mostly used where high oil resistance is required, as in automotive seals, gaskets, or other items subject to contact with hot oils. The rolls for spreading ink in printing and hoses for oil products are other obvious uses. NBR is also employed in textiles, where its application to woven and nonwoven fabrics improves the finish and waterproofing properties.

For regions, China keeps the largest consumption region in the recent few years, whose consumption volume share was 47% in 2016 globally. Europe is the follower, with the consumption volume of 132 K MT in 2016.

With gradual economy recovery, nitrile rubber downstream industries are resuming, give sufficient supports to the industry development. Global consumption volume of nitrile rubber increased from 633.7 K MT in 2012 to 706.4 K MT in 2016, with the CAGR of 2.75%.

The nitrile rubber industry leaders are LANXESS, Zeon and so on, have good reputations for their nitrile rubber products with advanced technologies. Compared with manufacturers Internally, China’s NBR industry is still in the development stage. Although China is a net importer for the time being, with more and more new capacities to be released in the coming years, China will become a major supplier of NBR internationally.

New report published by QY Research which offers insights on the global Nitrile Rubber (NBR) market. The Nitrile Rubber (NBR) market has been experiencing steady growth graph since past years. The global Nitrile Rubber (NBR) market is valued at 2,285 million USD in 2016 and is expected to reach 3,744 million USD by the end of 2023, growing at a CAGR of 7.31% between 2016 and 2023.

Click to view the full report: https://www.qyresearch.com/index/detail/556434/global-nitrile-rubber-nbr-sales-market

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