Hydrogenated Nitrile Butadiene Rubber Market Recent Developments, Research Analysis Forecast 2033

 The international hydrogenated nitrile butadiene rubber market value is estimated to be US$ 16.52 billion in 2023, according to a published study by Fact.MR, a market research and competitive intelligence firm. Global HNBR (hydrogenated nitrile butadiene rubber) demand is expected to rise at 7.7% CAGR and reach US$ 34.70 billion by the end of 2033. Rising use of hydrogenated nitrile butadiene rubber in medical and industrial gloves is expected to propel product demand.

Global demand for HNBR is increasing at a rapid rate due to its increasing adoption in offshore drilling operations as well as EOR (enhanced oil recovery). Additionally, these products are also being used as rolls for steel as well as paper mills, which is further fueling growth opportunities in the market.

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A number of industry players are spending significantly on research for developing new HNBR grades in order to sustain severe application conditions. The fact that hydrogenated nitrile butadiene rubber can retain its characteristics after exposure to heat, chemicals, and gasoline for a considerable period is one of the major reasons credited with its increasing application.

Market Study Key Takeaways

  • The market for hydrogenated nitrile butadiene rubber globally was US$ 15.35 billion in 2022.
  • Global hydrogenated nitrile butadiene rubber sales reach US$ 16.52 billion in 2023.
  • The market will reach US$ 34.7 billion at the end of 2033.
  • Hydrogenated nitrile butadiene rubber sales are estimated to progress with a 7.7% CAGR from 2023 to 2033.
  • Automotive industry demand for HNBR is anticipated to reach US$ 12.22 billion by the end of 2033.
  • The automotive industry commanded 47.2% of global market revenue in 2022.

"Rising demand from consumers for high-quality rubber is expected to drive sales of hydrogenated nitrile butadiene rubber due to its excellent retention characteristics and physical strength," states a Fact.MR analyst.

Increased Use of Hydrogenated Nitrile Butadiene Rubber in High-performance Products

Increasing demand for hydrogenated nitrile butadiene rubber from various end-use industries such as medical, automobile, oil & gas, manufacturing, and machinery is expected to contribute positively to revenue share.

Increasing demand from consumers for superior quality rubber is driving a transformation in the rubber production process, with synthetic rubbers, especially HNBR elastomers, being extensively utilized in various high-performance products, resulting in enhanced sales.

Browse Full Report: https://www.factmr.com/report/2534/hydrogenated-nitrile-butadiene-rubber-market 

Major Market Players

  • Rahco Rubber, Inc.,
  • Kumho Petrochemical Co., Ltd.,
  • JSR Corporation,
  • Zeon Corporation,
  • ARLANXEO,
  • Sibur Holding,
  • Versalis S.p.A.,
  • Lianda Corporation,
  • OMNOVA Solutions Inc.,
  • Synthos S.A.

Recent Developments

  • Zeon Corporation, in November 2022, expanded capacity for Zetpot HNBR at its Texas plant. This move is expected to enable the company to increase its capacity by 25%.
  • ARLANXEO is one of the leading manufacturers of synthetic rubber. In May 2022, the company took the initiative to consolidate its position with an investment in its Leverkusen (Germany) unit.
    Country-wise Insights:-

Why is there a surge in demand for hydrogenated nitrile butadiene rubber in the US?

HVBR is extensively used in the manufacture of automobiles.

Because of the presence of many popular producers, including Lord Corp., TG North America Corp., etc., the United States is believed to hold a considerable share of the North American market. These companies both export their respective products to Europe and Asia Pacific. Additionally, one of the large-scale industries utilizing HNBD is the automotive industry.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the hydrogenated nitrile butadiene rubber market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.

The study divulges essential insights into the market based on type (HNBR solid, HNBR latex) and end-use industry (automotive, machinery, oil & gas, medical, construction), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

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