NITRILE BUTADIENE RUBBER MARKET ANALYSIS

Market Challenges And Opportunities

Global Nitrile Butadiene Rubber Market Restraints:

• Substitute product availability: Availability of substitute products, such as a polyurethane-based thermoset elastomer petrochemical, Brandonite 1200-60A is expected to hinder the Nitrile Butadiene Rubber market growth.Counterbalance: With supply of natural rubber under threat, due to pathogens, the world is in need of some alternatives like the nitrile butadiene rubber, which is one of the most liable synthetic natural rubber for carrying out industrial applications. It is resilient and flexible than other substitutes available in the market.
• Fluctuating price of raw materials: Fluctuating price of raw materials is another key factor expected to hamper the market growth. NBR rubber is produced by the copolymerization of acrylonitrile and butadiene. The price of acrylonitrile differs due to the supply fluctuations and the volatility of prices of propylene.Counterbalance: Nitrile butadiene rubber is a petroleum-based and oil-resistant synthetic rubber. In comparison to other commonly used substitutes, it is much more compatible with the environments and low in cost.

Global Nitrile Butadiene Rubber Market Drivers:

• Growing demand from aerospace and automotive application: Rapid development in the transportation industry is driving the growth of the nitrile butadiene rubber market. For instance, in 2020 according to the Coherent Market Insights analysis, the automobile sector in India is expected to grow due to favorable government policies, such as the extension of the FAME-2 scheme till 2024 and the Production Link Incentive (PLI) scheme for auto and auto components manufacturers in India, which is valued at about US$ 18 Bn (INR 18,000 crore). According to the same source, Airbus is a European multinational aerospace corporation whixh delivered 611 commercial flights in 2021, increasing from 566 flights delivered in 2020. Boeing delivered 340 jetliners in 2021, depicting an increase from 157 jetliners in 2020. Owing to a surge in e–commerce and freight, Boeing was able to secure orders form UPS, Atlas Air, and FedEx in 2021. There is an increase in commercial flight orders, owing to the recovery in passenger travel rates from 2021.
• Strong growth in Oil & Fuel-resistant seals: Increasing demand from oil and fuel-resistant seals in many industries is also anticipated to foster the market growth. It has good mechanical strength, along with elasticity and good deformation behavior between -30 to 100 C, which makes it an ideal for oil & gas applications. Additionally, a rise in the oil and gas industry will favor the market growth. For instance, in June 2020, Zhoushan (Zhejiang) Refinery and Petrochemicalis a new integrated refinery and petrochemical project being developed in Zhoushan Island, Zhejiang province, China. Which commissioned the expansion and integration of its refining and petrochemical complex in 2021. The plant is expected to become the largest refinery in China, upon completion expected in 2022.

Global Nitrile Butadiene Rubber Market Opportunities:

• Growing of projects: Growing demand for nitrile glove is projected to bring bright market opportunities over the forecast period. Nitrile gloves are produced from synthetic rubber. They are capable of withstanding harsh chemicals and punctures. NBR nitrile gloves were originally produced as a latex allergy substitute for health, food, and cleaning workers.Increasing demand from adhesive and sealant application is expected to offer significant growth opportunities over the forecast period. Adhesive and Sealant application has improved product durability and reliability, increased product performance, enhanced increased design flexibility, enhanced product aesthetics, and improved process productivity and reduced manufacturing cost. NBR is majorly used as elastomer for high-end sealing applications.