Nitrile Butadiene Rubber Market Trends, Share Growing Rapidly with Recent Trends, Development, Revenue, Demand and Forecast to 2027
Market Overview:
Nitrile butadiene rubbers are used in a wide range of end-use
industry application owing to their excellent properties such as chemical,
heat, and oil & solvents resistance among others. It is extensively used in
the production of medical examination gloves, gaskets, O-rings, sealants,
adhesives, cable jacketing, and others. The rising growth of the oil & gas
and automotive industry across the globe is substantially affecting the growth
of the nitrile butadiene rubber market.
The global nitrile butadiene rubber market is being driven by a
range of application in the various end-use industries such as building and
construction, automotive, aerospace, and marine among others. Moreover, it is
estimated that the oil and gas industry is set to witness the highest growth
due to the growing consumption in applications such as sealing, moulding
components, and tubing among others during the forecast period, 2017-2023.
Market Segmentation:
The global Nitrile Butadiene
Rubber Market Trends is segmented into product type, and
end-user. On the basis of the product type, the market is segregated into
hoses, belts, cables, molded seals & o-rings, gloves and others. The market
by end user industry is further categorized into automotive, oil & gas,
mining, construction, medical and others
Market Scenario:
The oil & gas segment followed by the building and
construction end-user segment are anticipated to observe a higher CAGR during
the forecast period. Nitrile butadiene rubber is used in ceramic tiles, roofing
and wall, hoses, adhesives, and sealants, owing to its temperature stability,
higher bond strength, and chemical resistance, which contributes significantly
to the growth of the building and construction segment.
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Regional Analysis:
The global nitrile butadiene rubber market trends is spanned
across five key regions: Asia Pacific, North America, Europe, Latin America,
and the Middle East & Africa. Among these, Asia Pacific holds a major share
of the market and is expected to be the fastest growing region at an
exponential CAGR. The presence of the most populated countries of the world
such as India and China has augmented the demand for various sectors such as
the construction and automotive among others, which, in turn, is anticipated to
fuel the demand for nitrile butadiene rubber in the region. Moreover, the
growing oil and gas industry, mainly in India and China is also expected to
contribute to the market growth.
The European region is estimated to witness a significant growth
in the countries owing to the burgeoning aerospace and automobile industry. The
increasing use of nitrile butadiene rubber owing to its enhanced strength,
chemical and heat stability among others has increased the adoption rate in the
region.
The North American nitrile butadiene rubber market is mainly
driven by the U.S. and Canada. The presence of the developed end-user
industries such as automotive and construction coupled with the increasing
adoption rate is contributing significantly to the growth of the market.
Moreover, the growing investment in the infrastructural development is further
expected to add fuel to the growth of the market.
Competitive Analysis:
Some of the prominent players operating in the global nitrile
butadiene rubber market trends are Lanxess AG (Germany), Kumho Petrochemical
Co.(South Korea), PetroChina (China), Synthos S.A.(Poland), Zeon Chemicals
(U.S.), Sibur Holdings (Russia), Versalis (Italy), JSR Corporation (Japan),
Omnova Solutions (U.S.), and ARLANXEO (Germany) among others.
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