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Nitrile Elastomers Market Size, Share and Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3815

Nitrile elastomers market size will witness a significant growth rate during the period 2021 to 2027 on account of the increasing application scope in the automotive and industrial verticals. The surge in number of new petrochemical plants has led to rising product penetration in the oil and gas sector. Nitrile elastomers are typically emulsion polymers derived from polymerization techniques. Maximum efforts undertaken by the industry players on expanding the production units will also heavily contribute to the market share growth.
 

Based on type, the nitrile elastomers market revenue from carboxylated nitrile butadiene rubbers will expand with rising utility as rubber tougheners in a wide number of epoxy formulations. Benefits like enhanced abrasion resistance, hardness, and tensile strength will also favor the market progression.

 

The nitrile elastomers industry size from the automotive sector will grow substantially due to soaring penetration in manufacturing sealants, tubes, vibration dampeners, hoses, membranes, and pump stators. Growing consumer awareness pertaining to safety and fuel economy along with hiking household incomes have made way for several technological innovations in automotive applications. On account of its inherent resistance to aliphatic hydrogen oils, good temperature range, and robust physical properties, nitrile elastomers are also used in oil handling & hydraulic hoses, transmission fluid seals, shock and vibration mounts, O-rings, transmission belts, and rollers.
 

The aerospace sector will record higher consumption of nitrile elastomers from 2021 to 2027 owing to the surge in instances of R&D activities to enhance the performance of fuel systems. The rising preference for air travel has stirred the demand for nitrile elastomers in aircraft fuel systems. The mount in favorable government policies is an important driver for industry expansion.
 

Regionally, Asia Pacific is set to be a major shareholder of the nitrile elastomers market due to the presence of a huge population base and emerging economies in the region. The increasing intake of fuel and other hydrocarbon oils has propelled the adoption of resilient and long-lasting elastomer products. The fast-growing automotive sector along with the escalating production of vehicles has resulted in the large consumption of nitrile butadiene rubber in China. The increased supply of protective gloves from Malaysia has led to the higher penetration of nitrile butadiene latexes in the country. The growing purchasing levels of the product by western countries on account of its affordability in APAC will act as a significant contributor to the industry growth.
 

Leading nitrile elastomers industry players include LANXESS Aktiengesellschaft, Synthos S.A. (FTF Galleon S.A.), Kumho Petrochemical Co., Ltd., INSA GPRO (Nanjing) Synthetic Rubber Co. Ltd., JSR Corporation, Versalis S.p.A. (Eni), ZEON Corporation, Sibur.
 

These firms are adopting strategic measures, such as acquisitions, partnerships, and mergers for strengthening their geographical footprint. These participants are also constantly focusing on capacity expansions, new product developments, and investments to sustain the escalating market competition.

 

For instance, in April 2020, Sibur announced its plans of starting the commercial production of synthetic nitrile butadiene rubber latex at its Krasnoyarsk site with a capacity of over 3,500 metric tons per year.
 

Similarly, in September 2019, Sibur Holding entered an agreement with Sinopec (China Petroleum & Chemical Corp.) for a second nitrile butadiene rubber production plant to extend its rubber cooperation.
 

The effect of the COVID-19 pandemic on nitrile elastomers industry forecast

The coronavirus crisis caused ructions in the global economy and drew tremendous impacts on operational activities of numerous industrial verticals worldwide. Though the demand for nitrile elastomers suffered significantly across the construction, sealants, and automotive sectors due to the hampered supply chains, it recorded considerable penetration in the medical space. This can be ascribed to the growing product penetration in the manufacturing of protective gloves to tend to the rising infection rate.
 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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