South Korea Nitrile Butadiene Rubber Market Size & Outlook
South Korea nitrile butadiene rubber market, 2018-2030 (US$M)
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South Korea nitrile butadiene rubber market highlights
- The South Korea nitrile butadiene rubber market generated a revenue of USD 87.8 million in 2023 and is expected to reach USD 128.3 million by 2030.
- The South Korea market is expected to grow at a CAGR of 5.6% from 2024 to 2030.
- In terms of segment, seals & o-rings was the largest revenue generating product in 2023.
- Gloves is the most lucrative product segment registering the fastest growth during the forecast period.
Nitrile butadiene rubber market data book summary
| Market revenue in 2023 | USD 87.8 million |
| Market revenue in 2030 | USD 128.3 million |
| Growth rate | 5.6% (CAGR from 2023 to 2030) |
| Largest segment | Seals & o-rings |
| Fastest growing segment | Gloves |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Hoses, Belts, Cables, Molded & Extruded Products, Seals & O-rings, Rubber Compounds, Adhesives & Sealants, Gloves, Foamed Products |
| Key market players worldwide | ARLANXEO, Zeon Corp, Sibur, PetroChina Co Ltd Class H, Dynasol Group, Syensqo SA, Kumho Petrochemical, LG Chem, Eni, JSR Corp, AirBoss of America Corp, Atlantic Lithium Ltd, Manhattan Associates Inc |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.9% of the global nitrile butadiene rubber market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China nitrile butadiene rubber market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 962.7 million by 2030.
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Nitrile Butadiene Rubber Market Scope
Nitrile Butadiene Rubber Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea nitrile butadiene rubber market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to nitrile butadiene rubber market will help companies and investors design strategic landscapes.
Seals & o-rings was the largest segment with a revenue share of 18.45% in 2023. Horizon Databook has segmented the South Korea nitrile butadiene rubber market based on hoses, belts, cables, molded & extruded products, seals & o-rings, rubber compounds, adhesives & sealants, gloves, foamed products covering the revenue growth of each sub-segment from 2018 to 2030.
South Korea nitrile butadiene rubber market is expected to witness an upscale growth in the coming years on account of expanding automobile industry in the country. Automobile industry in South Korea accounted for the sixth-largest automobile manufacturing across the globe in 2020 and is expected to gain momentum over the coming years.
This is expected to support the nitrile butadiene rubber market on a positive note for the manufacturing of automotive transmissions, belts, hoses, gaskets, and other components. Furthermore, the presence of major automotive manufacturers in the country including Hyundai, CT&T, KIA, Renault, and Sangyong have propelled the demand for NBR across the country in recent years and the trend is expected to be followed throughout the forecast period.
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Our clientele includes a mix of nitrile butadiene rubber market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea nitrile butadiene rubber market , including forecasts for subscribers. This country databook contains high-level insights into South Korea nitrile butadiene rubber market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea nitrile butadiene rubber market size, by product, 2018-2030 (US$M)
South Korea Nitrile Butadiene Rubber Market Outlook Share, 2023 & 2030 (US$M)
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