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Global NBR Demand Overview
Global NBR Market Overview -2023
PUNE, MAHARASHTRA, INDIA, September 4, 2023/EINPresswire.com/ — Prismane Consulting is thrilled to announce the release of the most recent edition of its report, titled “2023 Global Nitrile Butadiene Rubber (NBR) Market”. This in-depth market analysis delves into the landscape of Nitrile Butadiene Rubber, exploring its supply-demand dynamics and consumption patterns. The report provides a comprehensive overview of the worldwide Nitrile Butadiene Rubber market, with a specific focus on key countries and their respective demand across various segments, technologies, and application industries. The Nitrile Butadiene Rubber market is segmented into applications such as Automotive, Mechanical, Metallurgy & Mining, Oil & Gas, Construction, Medical and other relevant applications. Additionally, the report offers Nitrile Butadiene Rubber market data both in terms of volume and value, segmented by types & application at both the country and regional levels.
This study offers a comprehensive analysis encompassing various critical factors, including macroeconomic influencers such as GDP, population, along with economic and energy forecasts. Furthermore, the report covers industry and policy advancements, insights into end-use sectors and application markets, detailed reasoning and assessment, informative commentary, comparative analysis, the latest trends, market dynamics, strategic considerations and recommendations, and business opportunity assessment.
The “Global Nitrile Butadiene Rubber (NBR) Market” report is now available on Prismane Consulting’s official website at:
https://prismaneconsulting.com/report-details/global-nitrile-butadiene-rubber-nbr-market-study-2016-2032
Nitrile Rubber, also known as Nitrile Butadiene Rubber (NBR), Buna-N, and Acrylonitrile Butadiene Rubber, is a synthetic rubber derived from Acrylonitrile (ACN) and Butadiene. It was first developed in 1931 at BASF & Bayer in Germany through emulsion polymerization.
NBR is widely used in various applications, including non-latex gloves, hoses, O-rings, automotive transmission belts, oil seals, cable jacketing, etc. It also provides resistance to mineral oil, petroleum products, and chemicals. NBR serves end-use industries such as Automotive, Mechanical, Metallurgy & Mining, Oil & Gas, Construction, Medical, and Others.
The global installed capacity of NBR was around 900 kilo tons in 2022, expected to cross 1,100 kilo tons by 2032, with majority of expansions announced in Asia and the United States. The top manufacturers include Arlanxeo, Kumho, Zeon Chemicals, Lanzhou Petrochemical, Dynasol Group, LG Chem, SIBUR, JSR Group, and Versalis S.p.a. These companies account for 3/4th of the global NBR capacities, with Arlanxeo dominating the market with a share of 18%. The company has NBR and HNBR production facilities located in Germany, France, and China.
More than half of global NBR supply resides in Asia-Pacific, with China being the largest producer globally, accounting for 34% of the global NBR production capacity. PetroChina Lanzhou Petrochemical is the largest NBR producer in the country, with an installed capacity of 100 kilo tons in 2022. Over 35 kilo tons of new capacity was added in April-May 2022. Western Europe ranks second in terms of production capacity, representing a 17% share followed by Central and Eastern Europe accounting for 8%. Krasnoyarsk Synthetic Rubber Plant JSC (Sinopec & SIBUR) is the sole producer of NBR in Russia with a nameplate capacity of 56 kilo tons. The country is mainly dependent on imports with 12 kilo tons imports in 2022. The remaining regions have zero to no capacity and are entirely dependent on imports from various countries.
Asia-Pacific dominates the Nitrile Butadiene Market, accounting for more than 50% of the total demand, attributed to the growing transportation and construction industries in countries such as China, Japan, and India. China leads the NBR market in the Asia Pacific region. Western Europe is the second largest consumer of NBR, followed by North America.
One of the main challenges in the NBR market is the volatility of raw material prices as NBR is a by-product of crude oil. The market for NBR is competitive and small changes in the demand supply balances are reflected in its prices. The frequently changes in the prices can affect the market as the raw materials that are used for making the products are high in cost which will rise the production rate, negatively affecting the growth of the NBR market.
To buy the report click here:
https://prismaneconsulting.com/checkout?_token=zovpAGdhIfFGGJi9p4KqXhpOaIvwbKvu6upPlqFV&report_id=108&single_user_license=Single
Key Questions Addressed in the Global Nitrile Butadiene Rubber Market Study:
• What is the current size of the Nitrile Butadiene Rubber Market?
• How is the Nitrile Butadiene Rubber market evolving?
• What is the projected Nitrile Butadiene Rubber Market size in 2032, and at what rate will it grow?
• What drivers, challenges, and restraints are impacting growth of Nitrile Butadiene Rubber Market?
• What are the future opportunities for Nitrile Butadiene Rubber Market?
To know more about the Nitrile Butadiene Rubber (NBR), Polybutadiene Rubber (BR), Polyacrylate Rubber (ACM) and Styrene Butadiene Rubber (SBR), visit www.prismaneconsulting.com or write to us at [email protected].
Tejas Shah
Prismane Consulting Private Limited
[email protected]
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