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 2027
|ID: VPR/CR/1069||Publishing Year: January 2022||Pages: 108||Format:|
Nitrile Butadiene Rubber Market Overview:
One of the main reasons for this expansion is the rising demand for NBR products in the automotive industry. NBR is widely employed in the automobile industry, with belts, O-rings, and cables being the most common applications. NBR is utilised in tyre treads and sidewalls because it has good abrasion resistance and low rolling resistance, ensuring optimum performance. NBR is also a low-cost replacement to natural rubber that has better characteristics. As a result, the automobile industry has a significant impact on the growth of the NBR market. Because of its resistance to heat, abrasion, water, and gas permeability, NBR is widely considered as the best material to use in chemical processes. Construction and the manufacturing of industrial and medical gloves are two additional important areas that are experiencing tremendous growth. The predicted government spending on infrastructure development is also likely to help boost the Global Nitrile Butadiene Rubber (NBR) Market Forward.
Some of the Prominent Players operating in the Global Nitrile Butadiene Rubber Market 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.
There are some constraints and hurdles that will stifle overall market expansion. The lack of standards and regulations, as well as the availability of replacement materials, are constraining industry expansion. It can be substituted with TPE or fluor elastomers in aeronautics applications. Furthermore, volatile raw material prices are one of the key roadblocks to the market's expansion. Restriction on the use of phthalates in NBR formulations, environmental rules on rubber manufacturing, and natural rubber cultivation are all possible roadblocks to the Worldwide Nitrile Butadiene Rubber (NBR) Market's overall growth. Nonetheless, APAC's rising end-use sectors, technological developments, and untapped potential in emerging markets provide positive growth prospects.
The market for Nitrile Butadiene Rubber (NBR) is divided into two categories: product and application. The growth of the various segments aids you in gaining information of the many growth variables that are projected to be prevalent throughout the industry, as well as formulating distinct tactics to help discover primary application areas and differences in your target markets.
Hoses, belts, cables, moulded& extruded products, seals &o-rings, rubber compounds, adhesives &sealants, gloves, foamed products, and others make up the Nitrile Butadiene Rubber (NBR) Market.
Aside from that, rising government initiatives to expand the automotive sector in key Asia Pacific countries are expected to drive up demand for the products. Consumer demand for Nitrile Rubber is expected to increase as the production of passenger cars, commercial vehicles, and motorcycles continues to grow over the forecast period.
Central and South America, as well as the Middle East and Africa, are expected to see significant growth in the emerging industry in the future. Brazil, Argentina, South Africa, and the Gulf Cooperation Council (GCC) countries have seen significant development in the construction, mechanical engineering, metallurgy and mining, and automotive sectors in the last few years.
In the next couple of years, the economies of North America and Europe are expected to exhibit a more stable growth trend. Increased awareness of the importance of worker health and safety, combined with stringent government regulations regarding occupational hazards, is expected to increase the use of NBR industrial gloves in the coming years, thereby supporting the steady growth of the industry in these regions.
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