In the changed post COVID-19 business landscape, the global market for Nitrile Butadiene Rubber (NBR) estimated at US$2.3 Billion in the year 2022, is projected to reach a revised size of US$3.6 Billion by 2030, growing at aCAGR of 5.5% over the period 2022-2030.
Seals & O-Rings, one of the segments analyzed in the report, is projected to record 6.6% CAGR and reach US$779.3 Million by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Belts segment is readjusted to a revised 5.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $614.7 Million, While China is Forecast to Grow at 8.6% CAGR
The Nitrile Butadiene Rubber (NBR) market in the U.S. is estimated at US$614.7 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$832.3 Million by the year 2030 trailing a CAGR of 8.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
Sources: globenewswire