2021 Nitrile Butadiene Rubber (NBR) Latex Market Growth | Trends Analysis Report

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

2. 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. Global Market Insights Inc.

3. Continue… • 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) 1935:2004, 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.  Global Market Insights Inc.

4. Continue… • 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. Global Market Insights Inc.

5. Continue… • 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 thenitrile 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 Global Market Insights Inc.

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