The Europe Nitrile Butadiene Rubber Market would witness market growth of 4.8% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 117.11 Kilo Tonnes, showcasing a growth of 3.0% (2019-2022).
The market stands as a pivotal segment within the expansive rubber industry, known for its versatile applications and robust performance characteristics. NBR, a synthetic rubber copolymer of acrylonitrile and butadiene, has witnessed a steady rise in demand across various industries owing to its exceptional oil and chemical resistance, high tensile strength, and durability. The adoption of NBR has experienced significant growth, fueled by its widespread acceptance across industries seeking resilient materials for diverse applications. Key drivers of this adoption include its remarkable performance in harsh environments, excellent sealing properties, and versatility in adapting to a spectrum of temperature ranges.
In the oil and gas sector, NBR's resistance to hydrocarbons positions it as a material of choice for seals and O-rings, ensuring the integrity of equipment in challenging environments. The medical field benefits from NBR in manufacturing disposable gloves, tubing, and other medical devices, owing to its biocompatibility and resistance to sterilization methods. NBR's utility extends to the construction industry, where it is employed in sealants, gaskets, and membranes. The material's resilience to weathering, water, and chemicals makes it a reliable choice for applications requiring durable and weather-resistant seals. Moreover, in the electrical and electronics sector, NBR is utilized for cable insulation and gaskets due to its electrical insulating properties and resistance to oils and solvents.
According to the Eurostat data, Germany had the highest level of current healthcare expenditure among the EU Member States, valued at €432 billion in 2020. Following Italy ($160 billion) and Spain ($120 billion) in terms of current healthcare spending was France ($281 billion). More than any other EU Member State, current healthcare spending in Germany and France was comparable to 12.8% and 12.2% of GDP, respectively. The ratios in Austria (11.5%), Sweden (11.4%), the Netherlands (11.1%), and Belgium (11.1%) were the following highest. Spain, Portugal, and Denmark were the only EU Member States to record double-digit ratios. Luxembourg and Denmark incurred the greatest current healthcare expenditures among EU Member States in 2020, in euro terms and relation to population size (€5 875 per inhabitant and €5 642). Thus, with the rising healthcare sector in Europe, there will be increased demand for NBR in the region.
The Germany market dominated the Europe Nitrile Butadiene Rubber Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $188.7 million by 2030. The UK market is exhibiting a CAGR of 4.5% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.2% during (2023 - 2030).
Free Valuable Insights: The Global Nitrile Butadiene Rubber Market will Hit USD 3 Billion by 2030, at a CAGR of 5.5%
Based on Product, the market is segmented into Seals & O-rings, Hoses, Cables, Belts, Molded & Extruded Products, Adhesives & Sealants, Rubber Compounds, Gloves, Foamed Products, and Others. Based on Application, the market is segmented into Automotive, Oil & Gas, Mechanical Engineering, Metallurgy & Mining, Medical, Construction, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Product (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
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