Acumen Research and Consulting, Recently Published Report On “Nitrile Butadiene Rubber (NBR) Latex Market Size, Share, Growth, Sales and Forecast, 2019 - 2026”.
LOS ANGELES, Dec. 04, 2019 (GLOBE NEWSWIRE) -- The global nitrile butadiene rubber (NBR) latex market is expected to grow at a CAGR of around 15.4 % over the forecast period 2019 to 2026 and reach the market value of over US$ 2,860.1 million by 2026.
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In 2018, Asia Pacific dominated the nitrile butadiene rubber (NBR) latex market with maximum market share. The major economies of the region including Japan, South Korea, China, and India are majorly contributing to the regional market growth. The rapid industrialization and high production capacity in the region are supporting the market value. For instance, Zeon Corp. has announced the production capacity expansion for hydrogenated nitrile rubber at its Kawasaki, Japan-based manufacturing plant. The plant produces Zetpol HNBR latex, which has applications across the coating glass cord and fabric. Also, Sinopec, a major China Petrochemical Corp. has invested in Sibur and became the strategic partner of the company in 2015. Sibur and Sinopec have plants to design a joint venture plant for acrylonitrile-butadiene rubber (NBR) in Shanghai, China.
On the basis of application, the industrial segment dominated the market with potential market share. The properties associated with the industrial use NBR products are contributing to the market growth. The properties include excellent abrasion and high resistance to several chemicals like mineral, hydraulic & vegetable oils, greases, solvents, and animal fats. For instance, Synthomer highlighted the strength in the nitrile latex market and occupied spotlight at Rubber Glove Conference and Exhibition in 2016. Malaysian Rubber Glove Manufacturers Association has organized IRGCE which was co-hosted by the Malaysian Rubber Export Promotion Council.
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In terms of product, Industrial grade NBR latex has registered the maximum share in the year 2018. The segment accounted for the potential share owing to the presence of a wide range of products manufactured from industrial grade NBR latex.
Some of the leading competitors are LG Chem, Zibo Elim Trade Co., Ltd., Zeon Chemicals, Omnova Solutions, Kumho Petrochemicals, Nantex, Apcotex Industries Limited, and Synthomer plc. Nitrile Butadiene Rubber (NBR) Latex companies have announced mergers and acquisitions to expand their position in the Nitrile Butadiene Rubber (NBR) Latex market. Major players are also moving into new regions with advance technologies for expanding the geographical presence.
Some of the key observations regarding Nitrile Butadiene Rubber (NBR) Latex market include:
- Top Glove Corporation has launched its flagship product on World Environment Day in 2019. The new BioGreen Biodegradable Nitrile Gloves are designed to provide protection to the user and environment simultaneously. The new gloves can biodegrade in anaerobic environments like landfills.
- Synthomer, a British-based chemicals company has expanded its nitrile latex production capacity with the opening of a new facility in Pasir Gudang, Malaysia. The new facility opened in 2018 with the official expansion of 90,000-metric ton production. The plant was officially inaugurated by the British High Commissioner to Malaysia.
- Arlanxeo has upgraded its La Wantzenau, France based nitrile rubber production facility in 2018. The modernization of the plant is part of the company's growth strategy.
- OMNOVA Solutions announced the sale of India Rubber Manufacturing Business in 2016. The deal with the India based organization Apcotex Industries Limited includes acrylonitrile-butadiene rubber (NBR), high styrene rubber masterbatches, and NBR-PVC polyblends product lines
- Synthomer, a UK based organization announced the acquisition of OMNOVA Solutions in 2019. OMN is a US-based specialty chemical company. According to the acquisition, each shareholder of Omnova will receive $10.15 per share they own.
- Apcotex Industries has a major capacity expansion plan for synthetic latex to 75 to 80,000 MT from the existing capacity of 55,000 MT in 2018. The new facility is expected to increase nitrile rubber capacity to 30,000 MT in the year 2019.
- Jubilant Agri and Consumer Products, a wholly-owned subsidiary of Jubilant Industries have announced the transfer of its retail hypermarket business to Aditya Birla Retail in 2016. The transfer consists of Agri products and performance polymers products including latex, such as vinyl pyridine, SBR and NBR latex, adhesives, wood finishes, and food polymers.
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