Market Overview and Growth Factors:
Nitrile Butadiene Rubber (NBR) Market, as per Market Research Future’s (MRFR’s) report is expected to showcase robust performance in the coming years. The CAGR that it can attain during the forecast period (2017-2023) would be substantial to take it across the estimated valuation. Nitrile butadiene rubber is a copolymer of butadiene and acrylonitrile. Its features such as resistance to oil, fuel, and other chemical makes it the choicest preference for the automotive sector. Not just automotive, it garners pats from industries such as oil & gas, mining, construction, and medicine as well. It has widespread utility in nuclear and aeronautics sector owing to its ability to withstand high temperature. As an integral part in the manufacturing of oil and fuel handling hoses, grommets, seats, and self-sealing fuel tanks, it is ruling aeronautics and automotive. But its spectrum also includes daily products such as footwear, adhesives, sealants, floor mates, sponges, and others. Also, it gets a substantial order from the manufacturing industry as an important material for protective gloves. Its takers have increased as it provides first-class strength and resists oils & acids better than the most.
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But the COVID 19 Impact on Nitrile Butadiene Rubber Market may see some distraction owing to the dwindling raw material prices. Its effect is bound to be on the end product and with reduced profit margin, manufacturers would have to change their strategy. However, its growing popularity among end-users can refrain the nitrile butadiene rubber market from having any long-time sluggishness.
Notable players of the nitrile butadiene rubber market are:
- Kumho Petrochemical Co.
- Lanxess AG
- Zeon Chemicals
- Synthos S.A.
- Sibur Holdings
- Omnova Solutions
- JSR Corporation
In December 2018, Synthomer increases their capacity for NBR production in their Malaysian unit, in Pasir Gudang, to support the strong demand generated by the glove industry.
MRFR, in their recent assessment of the
Based on the product type, the nitrile butadiene rubber market can be segmented into hoses, belts, cables, molded seals & o-rings, gloves, and others. Hoses are getting significant traction from the automotive sector.
Based on the end-user industry, the nitrile butadiene rubber market can be segmented into oil & gas, automotive, medical, mining, construction, and others. The oil & gas segment is gaining significant mileage during the forecast period.
Browse key industry insights spread across 139 pages with 44market data tables & 11 figures & charts from the report, “Nitrile butadiene rubber market research report: by product type (Hoses, Belts, Cables, Molded Seals & O-rings, Gloves and Others), and by end-user industry (Automotive, Oil & Gas, Mining, Construction, Medical and Others) – Forecast till 2023” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/nitrite-butadiene-rubber-market-5342
MRFR regionally analyzes the global nitrile butadiene rubber market by including five key regions Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA).
The APAC market has the maximum share and it is impacting the global market with innovation and implementation. The regional market is expected to garner exponential CAGR during the forecast period. Countries such as India and China with their huge population are going to show substantial scope for automotive and construction sector growth. The burgeoning oil & gas sector in both countries can provide extraordinary market traction.
Europe’s market is substantially strong and banking mostly on its use in the growing aerospace and robust automotive industry. Countries such as the U.K., France, Germany, and Russia are investing much for their defense which is giving aerospace industry much scope for expansion. Nuclear sector is also quite strong which can trigger market growth.
North America’s market relies mostly on decisions taken by the U.S. The country has a robust infrastructure for the nuclear sector and its automotive sector is getting revamped. At the same time, its defence expenditure is higher than most of the countries which are making it a perfect space for the nitrile butadiene rubber market’s expansion. Canada is amply backing up the growth with well-structured end-user industries.
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