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Nitrile Elastomers Market Size, Growth Potential Analysis, Porters Analysis, Pricing Trend, Regulatory Landscape & Forecast, 2023 – 2032

  • Report ID: GMI3815

Nitrile Elastomers Market size is projected to experience a healthy growth during 2023 to 2032 on account of the broadening application scope of the product in the automotive and industrial sectors. The surge in the number of new petrochemical plants is also boosting product penetration in the oil & gas industry.
 

Nitrile elastomers are typically emulsion polymers derived from polymerization techniques. Maximum efforts undertaken by industry players to expand the production units will also contribute to market growth.
 

Since crude oil serves as the primary raw material for nitrile elastomers, prices are projected to rise dramatically. This will push rubber product manufacturers to raise their pricing to remain competitive, and the cost of the end product will also rise proportionally, thereby limiting product uptake.
 

Based on type, the nitrile elastomers industry share from carboxylate nitrile butadiene rubbers will expand through 2032 on account of their rising usage as rubber tougheners in a wide number of epoxy formulations. Benefits like enhanced abrasion resistance, hardness, and tensile strength will also favor segment progression.
 

The nitrile elastomers market 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 about safety and fuel economy, along with escalating household incomes, have made way for several technological innovations in automotive applications. Owing to their 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.
 

Furthermore, industry leaders are taking efforts to expand their production capacity to meet the rising product demand. For instance, in December 2022, Zeon Corporation decided to expand its capacity for Zetpol Hydrogenated Nitrile Rubber at its Texas Plant through its subsidiary Zeon Chemicals L.P. The expansion will boost Zeon's global HNBR rubber capacity by roughly 25% and is slated to be finished by the beginning of 2025.
 

As per end-use, the nitrile elastomers market from the aerospace segment will record notable progress from 2023 to 2032 owing to the surge in R&D activities to enhance the performance of fuel systems. The rising preference for air travel has spurred the demand for nitrile elastomers in aircraft fuel systems. The mounting number of favorable government policies is an important driver for industry expansion through 2032.
 

Regionally, Asia Pacific is set to hold a sizable share in the nitrile elastomers industry by the end of 2032 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 burgeoning product sales in Western countries on account of its affordability will act as a significant contributor to the industry growth in APAC over 2023-2032.
 

Leading nitrile elastomers market players include INSA GPRO (Nanjing) Synthetic Rubber Co. Ltd., Kumho Petrochemical Co., Ltd., Lanxess AG., Synthos S.A. (FTF Galleon S.A.), Versalis S.p.A. (Eni), JSR Corporation, Kumho Petrochemical Co., Ltd., and ZEON Corporation. These firms are adopting strategic measures, such as acquisitions, partnerships, and mergers, to strengthen their geographical footprint. These firms are also constantly focusing on capacity expansions, new product developments, and lucrative investments to improve their position in the industry.
 

What Information does this report contain?

Historical data coverage: 2018 to 2022; Growth Projections: 2023 to 2032.
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.
Authors: Kiran Pulidindi

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