Global NB Latex Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global NB Latex Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

NB (Nitrile Butadiene) latex is a synthetic milky white-colored latex. It is a copolymer of acrylonitrile and butadiene monomer polymerized. It has excellent oil resistance, abrasion resistance, and tensile strength. These properties of NB latex are related to the acrylonitrile content in it.

NB latex is a versatile raw material. It has no volatile organic compounds (VOC), so it can replace natural rubber latex and develop rapidly. For example, it can be used to produce high-strength thin-walled products, such as surgical glove airbags or sanitary rubber products, because they have strain crystallization effect, so they have self-enhancement performance.

Market Overview:

The latest research study on the global NB Latex market finds that the global NB Latex market reached a value of USD 3324.04 million in 2022. It’s expected that the market will achieve USD 5658.12 million by 2028, exhibiting a CAGR of 9.27% during the forecast period.

Asia-Pacific

Because of the acrylonitrile in NB Latex, it has better oil resistance, abrasion resistance, and tensile strength than natural latex products. Therefore, it is widely used in the manufacture of surgical glove airbags or sanitary rubber products.

With the rise of more and more manufacturing plants in the Asia-Pacific region, the improvement of consumption levels and the increase in the number of consumers in the Asia-Pacific region will continue to contribute to the growth of the NB latex market. Among them, Malaysia is the main contributor to the entire Asia-Pacific market. Malaysia is the world's largest producer of nitrile latex gloves. The country also imports large amounts of styrene-butadiene rubber (NBR) latex and is also home to the largest manufacturer of nitrile rubber gloves. The outbreak of COVID-19 has stimulated people's awareness of hygiene. At the same time, a large amount of medical care also requires professional latex gloves. In this case, the demand for nitrile latex gloves and their material NB latex is increasing. Increasing demand also provides a driver for the development of NB latex in the Asia-Pacific region.

Alternative products to natural latex

Natural rubber latex is a natural material made from the sap of rubber trees. It can provide better flexibility than synthetic latex. But it has a short shelf life, is usually degraded by oil, and acid. At the same time, natural rubber latex contains protein, which can cause skin allergies or more serious reactions in individuals who are sensitive to natural rubber. In the synthesis process of NB latex, by changing the formula, NB latex can achieve different purposes or various colors. NB latex is generally more durable, oil and acid resistant, and it is not easy to cause allergies to users. Therefore, in some fields, such as medical gloves, NB latex is widely used as a substitute for natural latex.

The threat of alternative products

NB latex is mainly used to make gloves. However, there are many types of gloves on the market, such as vinyl gloves, neoprene gloves, polyvinyl chloride (PVC) gloves, and polyvinyl alcohol (PVA) gloves. These gloves have their own advantages, and through different additives, different effects can be achieved. The prices of these gloves are different, and the fields of application are also different. With the progress of synthetic technology and synthetic formula, there may be general fields, which may bring some challenges to the development of NB latex.

Region Overview:

In global comparison, a significant portion of the revenue was generated in Asia Pacific (84.69% in 2021).

Company Overview

Kumho Petrochemical is one of the major players operating in the NB Latex market, holding a share of 31.23% in 2022.

Kumho Petrochemical

Kumho Petrochemical, founded in 1970 and is doing business in various fields, such as synthetic resins, specialty chemicals, nanocarbon, energy, and building materials. Kumho Petrochemical, which has grown as an active player in Koreas industrial development for the past 50 years, and will become a global petrochemical company that develops and provides higher values.

Synthomer

Synthomer, formerly known as Yule Catto & Co, manufactures and supplies latices and specialty emulsion polymers. The company is one of the worlds foremost suppliers of aqueous polymers.

Segmentation Overview:

By type, Middle Acrylonitrile Type segment accounted for the largest share of market in 2021.

Middle Acrylonitrile Type

Middle Acrylonitrile type NB latex has good elasticity, high fineness, and is easy to plasticize. It can be directly produced from NB latex to produce various extruded or molded oil-resistant rubber products, wear-resistant, and shock-absorbing products.

High Acrylonitrile Type

High Acrylonitrile type NB latex has high oil resistance, good antistatic performance, improved airtightness, high tensile strength, high wear resistance, and good aging resistance. But at the same time, the high content of acrylonitrile reduces the flexibility of the internal molecular chain, and the flexibility and elasticity of the NB latex deteriorates, the compression set increases, the processing performance deteriorates, the low-temperature resistance performance and the electrical insulation performance decrease.

Application Overview:

By application, the Gloves segment occupied the biggest share from 2017 to 2022.

Key Companies in the global NB Latex market covered in Chapter 3:

LG Chem
Shin Foong
Nantex
Synthomer
ZEON
Jiuzhou Aohuo Chem&Indu
BST
Croslene Chemical
Kumho Petrochemical

In Chapter 4 and Chapter 14.2, on the basis of types, the NB Latex market from 2018 to 2029 is primarily split into:

Middle Acrylonitrile Type
High Acrylonitrile Type

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the NB Latex market from 2018 to 2029 covers:

Gloves
Paper
Fabrics
Gaskets
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)