According to a recent report from Zion Research, the global nitrile-butadiene rubber market was valued at approximately $300 million in 2014 and is expected to reach approximately $485 million by 2020, growing at a compound annual growth rate (CAGR) of slightly above 6% between 2015 and 2020. In terms of volume, global nitrile-butadiene rubber market stood at 75 kilo tons in 2014.
The major driving factor of nitrile-butadiene rubber market is reportedly strong demand for manufacturing different automotive components such as brake linings, dashboards, and kick panels. Increasing demand from medical and industrial gloves industry is another key factor that contributes market growth during the forecast period. Moreover, developing infrastructure coupled with rising industrialization worldwide is expected to further fuel market growth. However, environmental awareness and price volatility are expected to hamper the growth of the market in the years to come.