Asia’s demand for acrylonitrile butadiene rubber (NBR) has shrunk in the run-up to the Lunar New Year holidays due to slumping downstream automotive sector, with consumption being eroded further by growing production of electric vehicles.
“Demand for NBR has weakened due to the slump in the auto industry which is undergoing a transition to electrification,” a rubber trader said.
The shift to producing more environment-friendly vehicles translates to lesser demand for NBR, which has applications in internal combustion engines.
“The new energy electric vehicles is powered by a lithium ion battery instead of an internal combustion engine, which uses a whole host of auto parts or components [some of which use NBR],” the trader said.
The automotive industry is a major downstream for NBR, which is also used in the industrial, agricultural and footwear industries.
NBR's wide range of applications include automotive transmission belts, hoses, O-rings, gaskets, oil seals, and V belts; as well as synthetic leather, printer's form rollers, rice rollers, disposable non-latex gloves and cable jacketing.
Data from ICIS
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