Global Nitrile Butadiene Rubber (NBR) Hoses Market - 2023-2030

Overview

Global Nitrile Butadiene Rubber (NBR) Hoses Market reached US$ 0.6 billion in 2022 and is expected to reach US$ 1.1 billion by 2030, growing with a CAGR of 7.3% during the forecast period 2023-2030.

A growing development is the usage of specialty hoses made to meet the needs of particular industries. Businesses in the oil and gas, automotive and healthcare sectors are looking for hoses with certain qualities, such as resistance to abrasion, high temperatures and chemicals. NBR hoses are in high demand across a range of applications because of their reputation for adaptability and versatility, which positions them to satisfy these specific demands.

The market for NBR Hoses is primarily fueled by the automotive industry. NBR hoses are widely used in coolant transfer, brake lines and fuel systems because of an increase in vehicle production and the demand for dependable parts. The market for NBR hoses in a variety of fluid transfer applications is anticipated to stay strong as the automotive industry innovates further and places an increasing emphasis on electric and hybrid drives.

Asia-Pacific is among the growing regions in the global nitrile butadiene rubber (NBR) hoses market covering more than 1/3rd of the market. The NBR hoses market in Asia-Pacific has grown significantly as a result of the region's concentration on technical innovations and creative production techniques. The countries in the region have been spending money on R&D to improve the performance qualities of NBR hoses, increasing their adaptability to different operating environments and broadening their range of applications.

Dynamics

Growth in the Exploration of Oil and Gas

The growth of the oil and gas industry has a substantial impact on the market for nitrile butadiene rubber (NBR) hoses. The growth of the oil and gas industry is the biggest driver of the nitrile butadiene rubber hose market. The increasing global demand for energy has led to a rise in the discovery and production of both gas and oil. In the oil and gas industry, NBR hoses which are renowned for their resilience to chemicals, oil and extreme weather are essential for fluid transfer applications.

NBR hoses are essential components that make it possible to handle different fluids dependably and effectively, whether they are used on drilling rigs, in pipelines or during refining operations. Because of their adaptability and durability, NBR hoses are a vital component in fulfilling the exacting demands of fluid transfer in the many difficult situations that are typical of the oil and gas sector.

Growing Demand in the Automobile Industry

The global market for NBR Hoses has been greatly impacted by the automotive industry. The demand for NBR hoses is expanding as a result of increased automobile sales and production levels globally as well as ongoing technical improvements in automotive systems. The hoses are essential for hydraulic braking systems, coolant systems and fuel lines in automobiles.

Durable and high-performance hoses, like those manufactured by NBR, are still essential as the automobile industry develops and incorporates new technology. The continued popularity of hybrid and electric cars has also created new uses for NBR hoses in a range of fluid transfer scenarios in these innovative automotive systems.

High Cost of Raw Material

The price volatility of raw materials is a major factor limiting the globally market for nitrile butadiene rubber (NBR) hoses. As a synthetic rubber, NBR is produced using feedstocks from petrochemicals and its price is directly correlated with changes in oil prices. The entire cost structure for manufacturers may be impacted by the price volatility of crude oil and other raw materials used in the manufacturing of NBR.

Additionally, price spikes for raw materials that happen all of a sudden might push up manufacturing costs and reduce producers' profit margins of NBR hoses. The difficulty might force businesses to adopt pricing policies that would have an impact on market competitiveness, which would be detrimental to the industry's ability to develop steadily.

Environmental Problems and Compliance with Regulations

The market for NBR Hoses is further constrained by a growing focus on environmental sustainability and the strict laws governing material usage. The creation of NBR, a synthetic rubber, uses petrochemicals, which raises environmental issues. Global environmental consciousness is driving the demand for sustainable production methods and environmentally friendly substitutes.

NBR hose producers may also face difficulties as a result of strict local laws governing the use and disposal of synthetic materials. Adherence to ecological regulations could need modifications in manufacturing procedures, procurement of raw materials and disposal techniques, which could lead to increased operational intricacies and expenses for companies operating in the global NBR Hoses market.

Segment Analysis

The global nitrile butadiene rubber (NBR) hoses market is segmented based on product, application, end-user and region.

Increasing NBR Hoses in the Oil & Gas Industry Due to the Production of NBR Hoses

The industrial segment is among the growing regions in the global nitrile butadiene rubber (NBR) hoses market covering more than 1/3rd of the market. The global market for nitrile butadiene rubber (NBR) hoses has grown significantly as a result of the oil and gas industry. The oil and gas industry frequently conducts exploration and production operations in difficult applications such as onshore extraction sites and offshore drilling rigs.

The inherent chemical resistance of NBR material is one of the main contributing elements since it makes it ideal for use in the oil and gas industry where exposure to oils, hydrocarbons and other chemicals is frequent. Oil, gasoline and hydraulic fluid transfers are frequently handled by NBR hoses, which satisfy the industry's exacting standards for dependable and long-lasting hose solutions.

Geographical Penetration

Increasing Demand for NBR Hoses in Variety of Industries in Asia-Pacific

Asia-Pacific has been a dominant force in the global nitrile butadiene rubber (NBR) hoses market. The nitrile butadiene rubber (NBR) hoses market has been growing rapidly around the globe and Asia-Pacific has been a major contributor to this growth due to there is an increased demand for NBR hoses in a variety of industries due to the strong industrialization and infrastructural development in nations like China and India.

The automobile industry in particular has contributed significantly because of increasing car production and sales. NBR hoses are needed for several applications, including fuel systems, coolant transfer and hydraulic systems. The demand for NBR hoses in applications including concrete installation and water discharge has increased due to the growing construction and manufacturing industries in Asia-Pacific, which is fueling the market's expansion.

For Instance, in 2021, Yokohama Rubber Co. Ltd. expanded its subsidiary factory in China and increased its capacity for high-pressure hydraulic hoses. The project in Zhejiang Province, China, will receive approximately US$ 12 million from its Yokohama Industrial Products-Hangzhou Co. Ltd. company. According to a statement from Tokyo-based Yokohama, production of spiral wire hoses, which are mostly used in construction gear, will be increased gradually until September 2022, when capacity will have roughly tripled.

For Instance, in 2021, PMC Hydraulics Group, a leading Nordic provider of hydraulic systems, acquired a majority stake in Hydroquip Hydraulics in Bangalore, India. The acquired company will continue its operations independently under the name Hydroquip Hydraulics as part of the PMC Hydraulics Group. The strategic move reflects PMC's commitment to expanding its global reach, particularly in the Asian market, while allowing Hydroquip to maintain its identity and business practices within the larger group.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a major effect on the global market for nitrile butadiene rubber (NBR) hoses, as it has on many other sectors. The whole rubber and plastics business was impacted by the pandemic's effects on globally supply networks, production processes and demand patterns. The manufacture and delivery of NBR hoses had difficulties due to lockdowns, travel restrictions and unstable economies in different areas.

Many firms experienced logistical difficulties, staff shortages and delays in obtaining raw materials, which made it harder for them to satisfy consumer demand. The demand for NBR hoses was significantly impacted by the changes in industry and consumer behavior that occurred during the epidemic. Due to decreased consumer spending and economic uncertainty, several industries, including the construction and automobile sectors, had slowdowns.

However, there was a rise in demand for NBR hoses in sectors like healthcare, where they are utilized in equipment and gadgets for medicinal purposes. As manufacturers modified their strategy to match the evolving landscape, stressing supply chain resilience and expanding product uses, the overall dynamics of the market experienced changes.

Furthermore, the pandemic increased awareness of the value of health and safety precautions, which affected the market for particular NBR hose kinds, including those utilized in vital industrial operations or medical applications. The NBR hoses market is probably going to face continual alterations as a result of shifting industrial goals, supply chain concerns and changing market needs as the world continues to navigate the pandemic and its aftermath.

Russia-Ukraine War Impact Analysis

The production and delivery of rubber products like NBR hoses may be disrupted as a result of the geopolitical tensions and wars in the area. The unpredictability surrounding the war may have an impact on raw material availability, manufacturing procedures and transportation systems. The might thus affect the makers of NBR hoses' manufacturing capabilities and delivery schedules, perhaps causing shortages or delays in the international market.

Furthermore, market volatility is frequently a result of geopolitical instability, which may also have an impact on world economic circumstances. Changes in exchange rates, commodities prices and market mood can all be caused by uncertainties. The elements may influence the pricing policies and production costs of companies that make NBR hoses, which may affect the profitability and competitiveness of companies that do business internationally.

Businesses involved in international trade may face additional difficulties as a result of changes in trade regulations and policy brought about by the geopolitical climate. The globally distribution networks of NBR hoses and the general market dynamics may be impacted by export and import restrictions, trade route changes or sanctions.

By Product

• NBR Layflat Hoses
• NBR Oil and Fuel Hoses
• NBR Air and Water Hoses

By Application

• Hydraulic hoses
• Air hoses
• Chemical Transfer Hoses
• Water Discharge Hoses
• Irrigation Hoses
• Slurry Transfer Hoses
• Marine Fuel Hoses
• Food-grade Hoses
• Fire Hoses
• Concrete Placement Hoses
• Others

By End-User

• Automotive
• Oil & Gas
• Industrial
• Medical
• Construction
• Metallurgy & Mining
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On March 22, 2022, Finning International Inc. acquired Hydraquip Hose & Hydraulics Ltd. and Hoses Direct Ltd. for approximately £65 million, net of cash acquired, with adjustments following closing and excluding deferred contingent consideration. Hydraquip, UK's second-largest hydraulic hose replacement and repair company, brings with it a strong industry brand and a history of profitable growth.
• On February 20, 2020, TIPCO Technologies is set to increase its geographic reach by acquiring XS Hose and Hydraulics. Starting March 2nd, TIPCO will extend its services to South Jersey, offering an expanded product range that includes industrial hose, metal hose and custom gaskets. The strategic move aligns with TIPCO's commitment to robust expansion and positions the company as a comprehensive provider of hose and hydraulic solutions in the newly acquired region.

Competitive Landscape

The major global players in the market include Eaton Corporation, Parker Hannifin Corporation, ContiTech AG, Trelleborg AB, Ryco Hydraulics, Kurt Hydraulics, Flexaust Inc., Hose Master, Saint-Gobain and Novaflex Group.

Why Purchase the Report?

• to visualize the global nitrile butadiene rubber (NBR) hoses market segmentation based on product, application, end-user and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of nitrile butadiene rubber (NBR) hoses market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global nitrile butadiene rubber (NBR) hoses market report would provide approximately 61 tables, 69 figures and 182 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies