Description:The global nitrile butadiene rubber market was valued US$ 1.9 Bn in 2019 and is expected to reach US$ 3.12 Bn by 2027, at a CAGR of 8.10% during a forecast period. Development in the automotive industries will increase the demand for nitrile butadiene rubber market.
... moreThe global nitrile butadiene rubber market was valued US$ 1.9 Bn in 2019 and is expected to reach US$ 3.12 Bn by 2027, at a CAGR of 8.10% during a forecast period. Development in the automotive industries will increase the demand for nitrile butadiene rubber market.
Global Nitrile Butadiene Rubber Market
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global nitrile butadiene rubber market Definition:
Nitrile butadiene rubber known as oil-resistant synthetic rubber, which is manufactured by copolymerization of acrylonitrile and butadiene. General property of product is distributed as good hardness, heat resistance, oil resistance, and higher strength owing to the presence of high concentration of acrylonitrile in the rubber.
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
global nitrile butadiene rubber market Drivers and Restraints:
The huge development of nitrile butadiene market is observed in the escalation in the automotive industries across emerging economies. Robustness of material at diverse temperatures and protection towards oil, acid, minerals, and alkali makes it favorable to be accepted in the automotive sector. Another key segment to propel the product demand is observed by the development in the construction and medical gloves engineering sector. The estimated government spending on developing infrastructure forecasted to stretch the nitrile butadiene rubber market during the forecast period. Nitrate butadiene rubber is similarly used in the making of adhesives, sealants, footwear, sponges floor mates, and others. In the automotive and aerospace industry, nitrate butadiene rubber has broad range of application in production of grommets, seats self-sealing fuel tanks and oil and fuel handling hoses. The capability to endure high temperature makes it idyllic for use in atomic and aircraft applications.
Furthermore, fluctuation in the cost of raw materials and availability of active ingredients is hampering the growth of the nitrile butadiene rubber market.
Nitrile Butadiene Rubber Market Segment analysis:
By application segment, the automotive sector is expected to show constant growth during the estimated year. Nitrile butadiene rubber is widely accepted in tires and non-tire applications amongst the transportation and automotive industry where, tires are likely to uphold performance in different surface and weather environments though meeting the stringent protection standards of several nations. The growing request for tires proposing a smoother and soundless drive with healthier fuel efficacy is attracting the manufacturers to use adopt nitrile butadiene rubber market. Hence it is widely accepted in light and heavy automotive, and other end-user applications owing to their high bonding speed and strong resistance properties is further propelling the market demand helping the market to grow.
Nitrile Butadiene Rubber Market Regional Analysis:
Geopolitically, North America is expected to dominate the nitrile butadiene rubber market and is expected to grow at a CAGR of XX % during the forecast period. Developed regions like U.S. and Canada are considered major contributors for the nitrile butadiene rubber market growth in the North America region. Owing to the robust growth in the construction industries in North America is higher than any other developed region is boosting the regional market growth in terms of value and volume. In 2019 market size was valued US$ XX Bn while in U.S market size was valued XX Bn and is expected to increase by US$ XX Bn in the coming years.
The Asia Pacific established the largest share of XX.5% of the total nitrile butadiene market volume in 2019. Swift mechanization and majority production of automotive modules, molded and extruded polymer products in significant republics including India, China, and ASEAN countries is assessed to drive the utilization of nitrile butadiene rubber by the end of 2027.
The objective of the report is to present a comprehensive analysis of the Global Nitrile Butadiene Rubber Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
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