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Nitrile Butadiene Rubber (NBR) Latex Market Size

Report ID: GMI2881
Published Date: Jul 2024
Report Format: PDF

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Nitrile Butadiene Rubber Latex Market Size

Nitrile Butadiene Rubber Latex Market was at over USD 2.9 billion in 2023 and will register 10.4% CAGR from 2024-2032. The demand for market is on the rise, owing to the growing presence of established industries in the manufacturing sector. This expansion is due to increasing applications in healthcare, automotive, manufacturing, and other sectors where NBR latex is valued for chemical resistance, durability, and strong performance.

$Nitrile Butadiene Rubber (NBR) Latex Market$

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Major manufacturers are supplying goods for increased production to meet the growing global demand for gloves, adhesives, and coatings. For instance, in November 2021, Russian Energy with Italian pharmaceuticals, a Russian raw material produced in southwestern Russia, engineered approval of the installation of nitrile butadiene rubber (NBR) 30 ktpa capacity carboxylate styrene butadiene rubber latex (XSBR) units.

Nitrile Butadiene Rubber Latex Market Report Attributes
Report Attribute	Details
Base Year:	2023
Nitrile Butadiene Rubber Latex Market Size in 2023:	USD 2.9 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	10.4%
2032 Value Projection:	USD 7 Billion
Historical Data for:	2021 - 2023
No. of Pages:	295
Tables, Charts & Figures:	249
Segments covered:	Type, Material, Application
Growth Drivers:	Increasing demand in healthcare sector Expansion in industrial applications Technological advancements
Pitfalls & Challenges:	Volatility in raw material prices Competition from alternative materials

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Furthermore, advances in technology and manufacturing have enabled companies to improve the quality and efficiency of NBR latex, furthering the market growth. This expansion of production is not only to meet the current market demand but also to predict future growth opportunities from improvements in safety, development, and upgrades.

Despite the growth of the market, there are several barriers. Key challenges include fluctuations in raw material prices, particularly for butadiene, which affect production costs. Regulatory barriers and adherence to stringent environmental standards also impact market entry and expansion. In addition, global supply chain disruptions and logistic challenges affect the timeliness and availability of NBR latex products. Furthermore, competitive pressures for innovation and substitution, in line with the industry’s reliance on specific end-use sectors such as healthcare and automotive, contribute to market volatility and hinder broader growth opportunities.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The nitrile butadiene rubber latex market size was over USD 2.9 billion in 2023 and will register 10.4% CAGR from 2024-2032, owing to the growing presence of established industries in the manufacturing sector.

The gloves segment of the nitrile butadiene rubber (NBR) latex market will register 9.7% CAGR through 2024-2032, due to their excellent chemical resistance, durability, and hypoallergenic properties compared to latex gloves.

Asia Pacific nitrile butadiene rubber (NBR) latex industry generated a revenue of USD 2.58 billion in 2023, and may reach USD 6.4 billion by 2032, driven by strong industrial growth in the sector, especially in automotive, electronics, healthcare products, gloves, seals and textiles.

LG Chem, Jubilant Agri and Consumer Products Limited, Zeon Corporation, Synthomer, Nantex Industry Co., Ltd, Apcotex, Bangkok Synthetics Co., Ltd, Shin Foong Specialty and Applied Material Co., Ltd, Croslene Chemical Industries Ltd, Jining Sinya Chemical Co., Ltd, and Lienteh Technology among others.