Nitrile Butadiene Rubber (NBR) Latex Market 2021 Regional Trend | Growth Projections to 2027

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Nitrile Butadiene Rubber (NBR) Latex Market to
grow at over 10.5 CAGR from 2021 to 2027 Global
Market Insights, Inc.
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Overview of Nitrile Butadiene Rubber (NBR) Latex
Market

• As per Global Market Insights Inc., the nitrile
  butadiene rubber (NBR) latex industry will be
  worth over 4 Bn until 2027.
• Global nitrile butadiene rubber (NBR) latex
  market size will register significant growth
  during the analysis period 2021-2027.
  Proliferating product application in the seal,
  aeronautical and automotive industries for the
  production of seals, oil handling hoses,
  self-sealing fuel tanks, and grommets will push
  the demand for nitrile butadiene rubber latex
  (NBR) over the projected timeframe.
• A rapid upsurge in demand for disposable
  non-latex gloves in examination labs due to their
  resilience, superior strength, resistance to
  puncture, oils, and acids will provide lucrative
  opportunities to the nitrile butadiene rubber
  (NBR) latex market.

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• Furthermore, accelerating infrastructure
  development across the healthcare sector, coupled
  with the extensive use of specially compounded
  Nitrile to meet several international food
  standards like (EC) 19352004, FDA 21.177 2600,
  BfR XXI, will push the NBR latex industry
  forecast in the forthcoming years. 
• The current COVID situation has had a varied
  impact on the NBR latex market. During the first
  half of 2020, the non-tire rubber industry
  suffered a huge setback due to stagnant economic
  growth, disrupted supply chains, migration of
  workers, and stopped cash flow.
• Most of the MSMEs faced industry closures driven
  by the shortage of raw materials, lack of demand,
  and scarcity of funds. In addition, the
  work-from-home culture drastically changed the
  consumer's buying behavior and leisure
  expenditure, impacting the automotive,
  aeronautical, and seal industries. 

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• On the other hand, disposable NBR latex gloves
  industries witnessed breakthrough trends due to
  escalating infection anxiety among people and
  surging demand in the medical sector for lab
  examinations.
• Moreover, ramped-up production by new and
  existing industry players with the emergence of
  IHU and Omicron variants, along with supportive
  government initiatives to ease restrictions on
  non-essential enterprises, will help the industry
  recover from the pandemic shortly and boost the
  NBR latex industry outlook in the years ahead.
• Some of the promising NBR latex manufacturers
  include Jubilant Bhartia Group, LG Chem, Versalis
  S.p.A., Zeon Chemicals, OMNOVA Solutions, Kumho
  Petrochemical, Nantex, Emerald Performance
  Materials LLC, and Apcotex Industries Limited.

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• The presence of key industry players and
  manufacturers leading to novel product innovation
  while generating employment will raise the
  revenue trajectory in the APAC region. Other
  factors like favorable government norms and
  availability of raw materials at affordable
  prices will contribute to the growth of the Asia
  Pacific NBR latex market.
• In August 2020, Malaysia's LG Chem and Petronas
  inked an agreement to set up a new plant for
  the nitrile butadiene rubber manufacturing
  process in Malaysia to produce synthetic rubber
  gloves.
• Industry players are indulging in new expansion
  strategies to sustain the market competition
  while strengthening their customer base.
  Governments across major economies are taking
  necessary initiatives to help companies expand
  their product portfolio and fulfill the demand
  and supply gap

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