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Nitrile Butadiene Rubber (NBR) Latex Market Trends

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

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Nitrile Butadiene Rubber Latex Market Trends

The market will witness significant trends due to rising investments and agreements among key companies. These investments focus on expanding production lines to meet growing global demand in healthcare, automotive, and other industrial applications. Companies let their manufacturing go high by modernizing and optimizing technology to improve product quality and efficiency.

In addition, strategic alliances and collaborations play a critical role in market development, enabling firms to introduce new technologies, expand their geographical reach, and strengthen their market position. This trend drives product innovation, especially in specialized applications requiring high chemical resistance. As companies invest in R&D and form strategic partnerships, the NBR latex market is poised for continued growth, with consumers driven by growing demand for high-performance rubber products and industry needs.

For instance, in September 2022, Petronas and LG Chem won a $132 million contract to build a nitrile butadiene rubber (NBR) latex plant at the Pengerang Petrochemical Complex in South Malaysia. The finalized contract between the two companies planned to start the project in 2021, with production scheduled for 2023.

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.