South Korea Acrylonitrile-Butadiene Rubber (NBR) Market was valued at USD 0.7 Billion in 2022 and is projected to reach USD 1.0 Billion by 2030, growing at a CAGR of 5.8% from 2024 to 2030.
The South Korea Acrylonitrile-Butadiene Rubber (NBR) market has been experiencing substantial growth, driven by increasing industrial demand for this versatile synthetic rubber. NBR is crucial in various industries due to its remarkable resistance to oils, fuels, and chemicals. In South Korea, a country known for its robust manufacturing and automotive sectors, NBR is indispensable in producing seals, gaskets, hoses, and O-rings used in automotive, industrial, and consumer goods. The market is expected to continue expanding as manufacturers increasingly require durable and resilient materials for advanced applications.
The growing demand for Acrylonitrile-Butadiene Rubber (NBR) in the automotive industry stands as one of the main drivers of market growth. South Korea's automotive sector, one of the largest in the world, heavily relies on NBR for manufacturing key components such as fuel lines, brake systems, and vibration dampers. As electric vehicles (EVs) and hybrid models gain popularity, the demand for NBR has surged due to its performance under harsh conditions, like extreme temperatures and exposure to aggressive fuels and oils. This trend is expected to continue as South Korea pushes towards expanding its EV production.
Furthermore, the industrial sector is another significant driver for the South Korea NBR market. Industries that deal with heavy machinery, oil and gas, and chemicals require robust materials capable of withstanding harsh working environments. NBR's high resistance to chemicals and wear makes it an ideal material for seals and gaskets in such applications. South Korea's thriving chemical and petrochemical industries are expected to increase their consumption of NBR as they continue to expand and diversify their operations.
The packaging and consumer goods industries are also contributing to the rising demand for Acrylonitrile-Butadiene Rubber (NBR). NBR's versatility extends to the production of durable gloves and medical products, where its ability to resist oils and chemicals plays a critical role. As the global population grows, healthcare and safety requirements increase, further boosting NBR's application in South Korea's market.
In conclusion, the South Korea Acrylonitrile-Butadiene Rubber (NBR) market is experiencing a period of robust growth across various industries. Automotive, industrial, and consumer goods sectors are all playing a pivotal role in increasing NBR consumption. As these industries continue to evolve, the need for durable, high-performance materials such as NBR will only intensify, making it a critical component for future technological advancements.
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CNPC
Nantex
KKPC
LG Chem
Ningbo Shunze
Sibur
JSR
Industrias Negromex
Versalis
Petrobras Argentina
Huangshan Hualan Technology
Nanjing Xinfeima Chemical
Jiangyin Zhengbang Chemicals
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the South Korea Acrylonitrile-Butadiene Rubber (NBR) Market
Automotive Components
Textiles and Fabrics
Consumer Goods
Oil and Gas Seals
Industrial Goods
Automotive Industry
Aerospace and Defense
Construction and Building
Healthcare
Electronics
Low Acrylonitrile (NBR)
Medium Acrylonitrile (NBR)
High Acrylonitrile (NBR)
Emulsion Polymerization
Solution Polymerization
Bulk Polymerization
Unfilled NBR
Filled NBR
Reinforced NBR
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
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1. Introduction of the South Korea Acrylonitrile-Butadiene Rubber (NBR) Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. South Korea Acrylonitrile-Butadiene Rubber (NBR) Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. South Korea Acrylonitrile-Butadiene Rubber (NBR) Market, By Type
6. South Korea Acrylonitrile-Butadiene Rubber (NBR) Market, By Application
7. South Korea Acrylonitrile-Butadiene Rubber (NBR) Market, By Geography
Asia-Pacific
China
Japan
Korea
India
Australia
Indonesia
Thailand
Philippines
Malaysia and Vietnam
8. South Korea Acrylonitrile-Butadiene Rubber (NBR) Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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