HOME Top Market Reports NBR Market by Application (O-Rings & Seals, Hoses, Belts & Cables, Molded & Extruded Products, Adhesives & Sealants, Gloves), End-use Industry (Automotive & Transportation, Industrial, Oil & Gas, Medical), and Region - Global Forecast 2022

NBR Market by Application (O-Rings & Seals, Hoses, Belts & Cables, Molded & Extruded Products, Adhesives & Sealants, Gloves), End-use Industry (Automotive & Transportation, Industrial, Oil & Gas, Medical), and Region - Global Forecast 2022

By: marketsandmarkets.com
Publishing Date: May 2018
Report Code: CH 6236

 

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The Nitrile Butadiene Rubber (NBR) market was valued at USD 947.5 Million in 2016 and is projected to reach USD 1,393.0 Million by 2022, at a CAGR of 7.0% between 2017 and 2022. The base year considered for this study is 2016, and the forecast period is from 2017 to 2022.

The objectives of the report are as follows:

  • To define, describe, and forecast the NBR market size based on application, end-use industry, and region 
  • To provide detailed information regarding major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the NBR market
  • To analyze opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
  • To forecast the market size, in terms of volume and value, with respect to 5 main regions, namely, North America, Europe, Asia Pacific, South America, and the Middle East & Africa
  • To strategically profile key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as joint ventures, mergers & acquisitions, new product developments, and Research & Developments (R&D) activities in the NBR market

Research Methodology

Top-down approach has been used to estimate and validate the size of the NBR market and to estimate the sizes of various other dependent submarkets. The research study involved the extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and other government and private websites, to identify and collect information useful for the technical, market-oriented, and commercial study of the NBR market.

NBR Market

To know about the assumptions considered for the study, download the pdf brochure

The supply chain of the NBR market starts with the sourcing of raw materials, followed by manufacturing of NBR, processing of NBR, and supplying of finished NBR products. These products are supplied to various end-use industries. Major players operating in the NBR market include LANXESS (Germany), Sinopec (China), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), JSR Corporation (Japan), LG Chem (South Korea), SIBUR Holding (Russia), ZEON Corporation (Japan), Versalis S.p.A. (Italy), and OMNOVA Solutions Inc. (US).

Key Target Audience:

  • NBR  Manufacturing Companies
  • Traders, Distributors, and Retailers
  • Raw Material Suppliers
  • Commercial R&D Institutes
  • Research Institutes, Trade Associations, and Government Agencies

The scope of the report:

This research report categorizes the NBR market on the basis of application, end-use industry, and region.

Nitrile Butadiene Rubber (NBR) Market On the basis of Application:

  • O-rings & Seals
  • Hoses, Belts & Cables
  • Molded & Extruded Products
  • Adhesives & Sealants
  • Gloves

Nitrile Butadiene Rubber (NBR) Market On the basis of End-use Industry:

  • Automotive & Transportation
  • Industrial
  • Oil & Gas
  • Mining & Metallurgy
  • Construction
  • Medical

Nitrile Butadiene Rubber (NBR) Market On the basis of Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

The market has been further analyzed for key countries in each of these regions.

Available Customizations:

Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of companies. The following customization options are available for the report:

Country Information:

  • NBR market analysis for additional countries

Company Information:

  • Detailed analysis and profiling of other market players (up to 5)

Pricing Analysis:

  • Detailed pricing analysis for each type of NBR product

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Unit Considered
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions & Limitations

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 31)
    4.1 Attractive Market Opportunities for NBR
    4.2 NBR Market, By Region

5 Market Overview (Page No. - 34)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for NBR Gloves
                    5.2.1.2 Increasing Demand From Automotive Industry
           5.2.2 Restraints
                    5.2.2.1 Restrictions on Use of Phthalates in NBR Formulations and Other Environmental Regulations on Rubber Manufacturing
                    5.2.2.2 Availability of Substitute Materials
           5.2.3 Opportunities
                    5.2.3.1 Growing End-Use Industries in APAC
           5.2.4 Challenges
                    5.2.4.1 Fluctuating Raw Material Prices
                    5.2.4.2 Natural Rubber Cultivation
    5.3 Porter’s Five Forces Analysis
                    5.3.1.1 Bargaining Power of Buyers
                    5.3.1.2 Bargaining Power of Suppliers
                    5.3.1.3 Threat of New Entrants
                    5.3.1.4 Threat of Substitutes
                    5.3.1.5 Intensity of Competitive Rivalry
    5.4 Macroeconomic Indicators
           5.4.1 GDP Growth Rate Forecast of Major Economies, Globally
           5.4.2 Automotive Industry Analysis
    5.5 Rubber Industry Analysis

6 NBR Market, By Application (Page No. - 44)
    6.1 Introduction
    6.2 O-Rings & Seals
    6.3 Hoses, Belts & Cables
    6.4 Molded & Extruded Products
    6.5 Adhesives & Sealants
    6.6 Gloves
    6.7 Others

7 NBR Market, By End-Use Industry (Page No. - 57)
    7.1 Introduction
    7.2 Automotive & Transportation
    7.3 Industrial
    7.4 Oil & Gas
    7.5 Mining & Metallurgy
    7.6 Construction
    7.7 Medical
    7.8 Others

8 NBR Market, By Region (Page No. - 72)
    8.1 Introduction
    8.2 North America
           8.2.1 US
           8.2.2 Canada
           8.2.3 Mexico
    8.3 Europe
           8.3.1 Germany
           8.3.2 France
           8.3.3 UK
           8.3.4 Italy
           8.3.5 Russia
           8.3.6 Rest of Europe
    8.4 APAC
           8.4.1 China
           8.4.2 Japan
           8.4.3 South Korea
           8.4.4 Taiwan
           8.4.5 Malaysia
           8.4.6 Thailand
           8.4.7 Rest of APAC
    8.5 Middle East & Africa
           8.5.1 Saudi Arabia
           8.5.2 Rest of Middle East & Africa
    8.6 South America
           8.6.1 Brazil
           8.6.2 Rest of South America

9 Competitive Landscape (Page No. - 121)
    9.1 Overview
    9.1 Market Ranking of Key Players
    9.2 Competitive Scenario
           9.2.1 New Product Developments
           9.2.2 Expansions
           9.2.3 Joint Ventures
           9.2.4 Acquisitions
           9.2.5 Partnerships

10 Company Profiles (Page No. - 125)
     10.1 Lanxess
             10.1.1 Business Overview
             10.1.2 Products Offered
             10.1.3 Recent Developments
             10.1.4 Lanxess: SWOT Analysis
             10.1.5 MnM View
     10.2 Sinopec
             10.2.1 Business Overview
             10.2.2 Products Offered
             10.2.3 Recent Developments
             10.2.4 Sinopec: SWOT Analysis
             10.2.5 MnM View
     10.3 Kumho Petrochemical
             10.3.1 Business Overview
             10.3.2 Products Offered
             10.3.3 Kumho Petrochemical: SWOT Analysis
             10.3.4 MnM View
     10.4 TSRC Corporation
             10.4.1 Business Overview
             10.4.2 Products Offered
             10.4.3 Recent Developments
             10.4.4 TSRC Corporation: SWOT Analysis
             10.4.5 MnM View
     10.5 JSR Corporation
             10.5.1 Business Overview
             10.5.2 Products Offered
             10.5.3 JSR Corporation: SWOT Analysis
             10.5.4 MnM View
     10.6 LG Chem
             10.6.1 Overview
             10.6.2 Products Offered
             10.6.3 MnM View
     10.7 Versalis S.P.A.
             10.7.1 Business Overview
             10.7.2 Products Offered
             10.7.3 Recent Developments
             10.7.4 MnM View
     10.8 Zeon Corporation
             10.8.1 Business Overview
             10.8.2 Products Offered
             10.8.3 Recent Developments
             10.8.4 MnM View
     10.9 Sibur Holding
             10.9.1 Business Overview
             10.9.2 Products Offered
             10.9.3 Recent Developments
             10.9.4 MnM View
     10.10 Omnova Solutions Inc.
             10.10.1 Business Overview
             10.10.2 Products Offered
             10.10.3 MnM View
     10.11 Other Players
             10.11.1 Synthos Sa
             10.11.2 Apcotex Industries Limited

11 Appendix (Page No. - 144)
     11.1 Insights From Key Industry Experts
     11.2 Discussion Guide
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports


List of Tables (115 Tables)

Table 1 Trends and Forecast for GDP Growth Rates Between 2016 and 2021
Table 2 Automotive Production Statistics of Key Countries in 2017
Table 3 Rubber Production/Consumption Ratio in APAC
Table 4 NBR Market Size, By Application, 2015–2022 (Kiloton)
Table 5 NBR Market Size, By Application, 2015–2022 (USD Million)
Table 6 NBR Market Size in O-Rings & Seals Application, By Region, 2015–2022 (Kiloton)
Table 7 NBR Market Size in O-Rings & Seals Application, By Region, 2015–2022 (USD Million)
Table 8 NBR Market Size in Hoses, Belts & Cables Application, By Region, 2015–2022 (Kiloton)
Table 9 NBR Market Size in Hoses, Belts & Cables Application, By Region, 2015–2022 (USD Million)
Table 10 NBR Market Size in Molded & Extruded Products Application, By Region, 2015–2022 (Kiloton)
Table 11 NBR Market Size in Molded & Extruded Products Application, By Region, 2015–2022 (USD Million)
Table 12 NBR Market Size in Adhesives & Sealants Application, By Region, 2015–2022 (Kiloton)
Table 13 NBR Market Size in Adhesives & Sealants Application, By Region, 2015–2022 (USD Million)
Table 14 NBR Market Size in Gloves Application, By Region, 2015–2022 (Kiloton)
Table 15 NBR Market Size in Gloves Application, By Region, 2015–2022 (USD Million)
Table 16 NBR Market Size in Other Applications, By Region, 2015–2022 (Kiloton)
Table 17 NBR Market Size in Other Applications, By Region, 2015–2022 (USD Million)
Table 18 NBR Market Size, By End-Use Industry, 2015–2022 (Kiloton)
Table 19 NBR Market Size, By End-Use Industry, 2015–2022 (USD Million)
Table 20 NBR Market Size in Automotive & Transportation Industry, By Region, 2015–2022 (Kiloton)
Table 21 NBR Market Size in Automotive & Transportation Industry, By Region, 2015–2022 (USD Million)
Table 22 NBR Market Size in Industrial Segment, By Region, 2015–2022 (Kiloton)
Table 23 NBR Market Size in Industrial Segment, By Region, 2015–2022 (USD Million)
Table 24 NBR Market Size in Oil & Gas Industry, By Region, 2015–2022 (Kiloton)
Table 25 NBR Market Size in Oil & Gas Industry, By Region, 2015–2022 (USD Million)
Table 26 NBR Market Size in Mining & Metallurgy Industry, By Region, 2015–2022 (Kiloton)
Table 27 NBR Market Size in Mining & Metallurgy Industry, By Region, 2015–2022 (USD Million)
Table 28 NBR Market Size in Construction Industry, By Region, 2015–2022 (Kiloton)
Table 29 NBR Market Size in Construction Industry, By Region, 2015–2022 (USD Million)
Table 30 NBR Market Size in Medical Industry, By Region, 2015–2022 (Kiloton)
Table 31 NBR Market Size in Medical Industry, By Region, 2015–2022 (USD Million)
Table 32 NBR Market Size in Other End-Use Industries, By Region, 2015–2022 (Kiloton)
Table 33 NBR Market Size in Other End-Use Industries, By Region, 2015–2022 (USD Million)
Table 34 NBR Market, By Region, 2015-2022 (Kiloton)
Table 35 NBR Market, By Region, 2015-2022 (USD Million)
Table 36 North American Light-Vehicle Production
Table 37 North America: NBR Market Size, By Country, 2015-2022 (Kiloton)
Table 38 North America: Market Size, By Country, 2015-2022 (USD Million)
Table 39 North America: Market, By Application, 2015-2022 (Kiloton)
Table 40 North America: Market , By Application, 2015-2022 (USD Million)
Table 41 North America: Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 42 North America: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 43 Leading Ports Exporting Light Vehicle Goods
Table 44 US: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 45 US: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 46 Canada: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 47 Canada: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 48 Mexico Accounts for Nearly Half of the Car Production in North America
Table 49 Medical Device and Equipment Market Size in Mexico (USD Billion):
Table 50 Mexico: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 51 Mexico: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 52 Europe: NBR Market Size, By Country, 2015-2022 (Kiloton)
Table 53 Europe: Market Size, By Country, 2015-2022 (USD Million)
Table 54 Europe: Market, By Application, 2015-2022 (Kiloton)
Table 55 Europe: Market, By Application, 2015-2022 (USD Million)
Table 56 Europe: Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 57 Europe: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 58 Germany: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 59 Germany: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 60 France: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 61 France: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 62 UK: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 63 UK: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 64 Italy: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 65 Italy: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 66 Russia: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 67 Russia: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 68 Rest of Europe: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 69 Rest of Europe: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 70 APAC: NBR Market Size, By Country, 2015-2022 (Kiloton)
Table 71 APAC: Market Size, By Country, 2015-2022 (USD Million)
Table 72 APAC: Market, By Application, 2015-2022 (Kiloton)
Table 73 APAC: Market, By Application, 2015-2022 (USD Million)
Table 74 APAC: Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 75 APAC: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 76 China: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 77 China: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 78 Japan: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 79 Japan: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 80 South Korea: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 81 South Korea: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 82 Taiwan: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 83 Taiwan: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 84 Malaysia: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 85 Malaysia: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 86 Thailand: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 87 Thailand: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 88 Rest of APAC: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 89 Rest of APAC: NBR Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 90 Middle East & Africa: NBR Market Size, By Country, 2015-2022 (Kiloton)
Table 91 Middle East & Africa: Market Size, By Country, 2015-2022 (USD Million)
Table 92 Middle East & Africa: Market, By Application, 2015-2022 (Kiloton)
Table 93 Middle East & Africa: Market, By Application, 2015-2022 (USD Million)
Table 94 Middle East & Africa: Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 95 Middle East & Africa: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 96 Automotive Components Manufacturers in Saudi Arabia
Table 97 Saudi Arabia: Automotive Parts Import Export Overview, 2015
Table 98 Saudi Arabia: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 99 Saudi Arabia: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 100 Rest of Middle East & Africa: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 101 Rest of Middle East & Africa: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 102 South America: NBR Market Size, By Country, 2015-2022 (Kiloton)
Table 103 South America: Market Size, By Country, 2015-2022 (USD Million)
Table 104 South America: Market, By Application, 2015-2022 (Kiloton)
Table 105 South America: Market, By Application, 2015-2022 (USD Million)
Table 106 South America: Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 107 South America: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 108 Brazil: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 109 Brazil: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 110 Rest of South America: NBR Market Size, By End-Use Industry, 2015-2022 (Kiloton)
Table 111 Rest of South America: Market Size, By End-Use Industry, 2015-2022 (USD Million)
Table 112 New Product Developments, 2012-2017
Table 113 Expansions, 2012-2017
Table 114 Joint Ventures, 2012–2017
Table 115 Acquisitions, 2012–2017


List of Figures (42 Figures)

Figure 1 NBR: Market Segmentation
Figure 2 NBR Market: Research Design
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 NBR Market: Data Triangulation
Figure 6 O-Rings & Seals to Be the Largest Application of NBR
Figure 7 Automotive & Transportation to Be the Largest End-Use Industry of NBR
Figure 8 APAC NBR Market to Witness Significant Growth
Figure 9 NBR Market Size, 2017 vs 2022
Figure 10 APAC Was the Fastest-Growing Market and Automotive & Transportation Was the Largest Application
Figure 11 Automotive & Transportation Was the Largest End-Use Industry of NBR
Figure 12 APAC to Be the Largest NBR Market
Figure 13 Factors Governing the NBR Market
Figure 14 O-Rings & Seals Was the Largest Application of NBR in 2016
Figure 15 APAC to Be the Fastest-Growing NBR Market in O-Rings & Seals Application
Figure 16 APAC to Lead the Market in Hoses, Belts & Cables Application
Figure 17 APAC to Be the Largest NBR Market in Molded & Extruded Products Application
Figure 18 APAC to Lead the NBR Market in Adhesives & Sealants Application
Figure 19 APAC to Be the Fastest-Growing NBR Market in Gloves Application
Figure 20 APAC to Be the Fastest-Growing NBR Market in Other Applications
Figure 21 Automotive & Transportation Was the Largest End-Use Industry of NBR in 2016
Figure 22 APAC to Be the Largest NBR Market in the Automotive & Transportation End-Use Industry
Figure 23 APAC to Lead the NBR Market in the Industrial Segment
Figure 24 North America to Be the Fastest-Growing NBR Market in Oil & Gas End-Use Industry
Figure 25 APAC to Be the Fastest-Growing NBR Market in Mining & Metallurgy End-Use Industry
Figure 26 APAC to Be the Fastest-Growing NBR Market in Construction End-Use Industry
Figure 27 APAC to Be the Fastest-Growing NBR Market in Medical End-Use Industry
Figure 28 APAC to Be the Fastest-Growing NBR Market in Other End-Use Industries
Figure 29 Regional Snapshot – Rapidly Growing Markets are Emerging as New Hotspots
Figure 30 Europe: NBR Market Snapshot
Figure 31 APAC: NBR Market Snapshot
Figure 32 Key Developments By Leading Players Between 2012 and 2017
Figure 33 Lanxess: Company Snapshot
Figure 34 Sinopec: Company Snapshot
Figure 35 Kumho Petrochemical: Company Snapshot
Figure 36 TSRC Corporation: Company Snapshot
Figure 37 JSR Corporation: Company Snapshot
Figure 38 LG Chem: Company Snapshot
Figure 39 Versalis S.P.A.: Company Snapshot
Figure 40 Zeon Corporation: Company Snapshot
Figure 41 Sibur Holding: Company Snapshot
Figure 42 Omnova Solutions Inc.: Company Snapshot

The Nitrile Butadiene Rubber (NBR) market is projected to grow from USD 992.4 Million in 2017 to USD 1,393.0 Million by 2022, at a CAGR of 7.0% between 2017 and 2022. The increase in the use of NBR in O-rings & seals and gloves applications and superior properties of NBR that include improved oil resistance and high heat stability are key factors projected to drive the growth of the NBR market. In addition, the increased demand for NBR from the automobile industry in the Asia Pacific region is another significant factor contributing to the growth of the NBR market.

Based on application, the NBR market has been segmented into O-rings & seals, hoses, belts & cables, molded & extruded products, adhesives & sealants, and gloves. The O-rings & seals segment is the largest application segment of the NBR market. O-rings and seals are used in various end-use industries, such as manufacturing, oil & gas, and automotive. The consumption of O-rings & seals in the automotive industry is directly related to vehicle manufacturing. NBR gloves are preferred over latex gloves, due to low chances of allergy and high puncture resistance.

Based on end-use industry, the NBR market has been segmented into automotive & transportation, industrial, oil & gas, mining & metallurgy, construction, and medical.  Unique properties of NBR that include excellent resistance to heat, abrasion, and water have increased the applicability of NBR in various end-use industries. NBR is widely used in the production of sealing products for automotive & transportation, oil & gas, manufacturing, and mining industries.

NBR Market

Asia Pacific is estimated to be the largest market for NBR; this market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period. According to OICA, over the past few years, vehicle manufacturing in countries, such as China, India, Japan, and Indonesia has witnessed exponential growth. Thus, the rise in the production of automobiles has contributed to the increased consumption of NBR in the Asia Pacific region.

Key producers of NBR include Sinopec (China), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), JSR Corporation (Japan), LG Chem (South Korea), SIBUR Holding (Russia), and ZEON Corporation (Japan).

Companies operating in the NBR market are entering into joint ventures with other key players to increase their market share and cater to the increasing demand for NBR products. For instance, in April 2016, LANXESS and Saudi Aramco (Saudi Arabia) signed an agreement to create a 50:50 joint venture to form a company named, ARLANXEO. This newly formed company is responsible for producing synthetic rubber. The joint venture strategy enabled LANXESS to cater to the increasing demand for NBR and elastomer products worldwide.

Companies such as LANXESS (Germany), Sinopec (China), TSRC Corporation (Taiwan), Versalis S.p.A. (Italy), and ZEON Corporation (Japan) adopted expansions, new product developments, and agreements strategies to expand their market share and product portfolio in the NBR market.

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