Know More About “Nitrile Butadiene Rubber (NBR) Market 2018-2025” Growth Worldwide…..|Grand View Research, Inc.


The global nitrile butadiene rubber (NBR) market is expected to reach USD 2.59 billion by 2025, growing at a CAGR of 3.3%, according to a new report by Grand View Research, Inc. Asia Pacific is expected to provide ample scope for the industry growth of NBR by the end of 2025. China, India, and Southeast Asian countries are likely to reflect a strong growth scenario in the future.
NBR is one of the versatile synthetic rubbers that is highly consumed in high end applications, which require the product to be highly sustainable to varying operational and climatic conditions. This makes the product suitable for use in a wide array of industries.
NBR demand in China and India is expected to be driven by significant industrial developments of key end-use sectors in the region including automotive & transportation, metallurgy & mining, oil & gas, equipment & machinery, and medical sectors. These recent developments have propelled the requirements of mechanical goods such as cables, belts, gaskets, and seals.
Lanxess AG, Kumho Petrochemical Co., PetroChina, Synthos S.A., Zeon Chemicals, Sibur Holdings, Versalis and JSR Corporation, Omnova Solutions. Lanxess AG supplies an extensive NBR product portfolio under the brand names PERBUNAN, KRYNAC, and BAYMOD.
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https://www.grandviewresearch.com/industry-analysis/nitrile-butadiene-rubber-market/request/rs4
Rise in the consumer disposable income and purchasing power in ASEAN countries including Indonesia and Thailand, has led to a rapid growth of the automotive industry as well as a strong increase in aftermarket activities. Moreover, increase in the healthcare expenditure in these countries is another key factor that is expected to boost the consumption of nitrile gloves by 2025.
Further key findings from the report suggest:
  • In terms of volume, the seals & O-rings segment is expected to rise at a CAGR of 2.9% from 2017 to 2025. This category is expected to generate a market revenue of nearly US$ 491.3 million by the end of the forecast period.
  • Consumption of nitrile gloves is estimated to increase at the fastest growth rate over the years ahead, as a consequence of significant product utilization in the healthcare & hygiene sector
  • Wide production expanse particularly in China and India is likely to drive the NBR consumption in mechanical engineering applications including vibration dampening materials, impact machinery, pumps, hydraulic equipment, and compressors
  • Europe accounted for the second-largest revenue share of over 20.0% of the global market in 2016. CIS countries mainly Russia, are likely to witness fast paced industry growth owing to significant use of hoses, and seals & O-rings in the oil & gas sector.
  • Companies are aiming to strengthen their positions in the global industry through acquisition, technology licensing, and collaborations
  • In June 2014, Sinopec Corp jointly ventured with SIBUR, a Russian petrochemicals and gas processing company for the construction of a nitrile rubber plant with an annual production capacity of 50 kilo tons at the Shanghai Chemical Industry Park, Shanghai
Nitrile rubber also known as acrylonitrile butadiene rubber is favorably used for making numerous industrial goods, owing to their relatively superior performance and structural attributes over other synthetic polymers. The product is characterized by high resilience towards oils, chemicals, fuels, and heat and its performance can be enhanced by increasing the acrylonitrile content.
In terms of volume, the total product demand in the U.S. reached 89.5 kilo tons in 2015. Increasing unconventional oil & gas exploration activities in the country is projected to boost the utilization of resilient rubber goods in the next couple of years. This in turn, is estimated to drive the industry growth over the forecast period.
NBR based seals & O-rings, hoses, and other oil & gas hardware goods are significantly consumed in oil & gas applications, owing to their high oil & fuel resistance. Key forward integrated industry players in the U.S. including AirBoss Rubber Compounding and Atlantic Gasket Corporation offer nitrile rubber for oil & gas and mechanical goods.
Research & development regarding processing of micronized powders is expected to play a significant role in supporting the industry growth in the U.S. For instance, in September 2014 JSR Corporation announced its plans of forming a technology licensing agreement with Lehigh Technologies based in Georgia, U.S. for production of micronized NBR powder.
Automotive, mechanical engineering, medical, and construction are the next major end-uses that are expected to offer significant leverage in the U.S. market over the years ahead, owing to significant consumption of NBR goods such as gaskets, hydraulic hoses, and cables.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-nitrile-butadiene-rubber-market
The market has been classified based on key product types that include belts, cables, hoses, molded & extruded products, seals & O-rings, adhesives & sealants, rubber compounds, gloves, and foamed products. In terms of revenue, the seals & O-rings segment accounted for 18.6% share of the global industry in 2016.
Seals & O-rings are used in various pressure sensitive applications and are widely used in automobile engines as reciprocating and rotary seals for relative motion between inner and outer elements. O-rings are extensively used to reduce friction resulting in increased shelf life of the vehicle and lower the overall maintenance costs.
NBR is favorably used in the processing of seals & O-rings as it is characterized by good mechanical strength and improves the final product’s resistance to wear and extrusion. Additionally, this product is expected to be the fastest growing segment during the forecast period.
Molded & extruded products segment constituted the second-largest revenue share followed by belts and rubber compounds in 2016. The product is used in the manufacturing of molded nitrile gaskets owing to their excellent tensile strength and resilience. These gaskets are widely consumed in high pressure systems, owing to their high chemical and temperature resistance.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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