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(Construction.IndustryNews247.Com, August 22, 2018 ) Industry Trend Analysis
In 2012, the global nitrile butadiene rubber (NBR)market was evaluated around USD 1.69 billion and is expected to reach approximately USD 3.29 billion by 2022 while registering itself at a compound annual growth rate (CAGR) of 6.86% over the forecast period on account of growing requirement for high-quality plasticizers due to their brilliant mechanical characteristics. Additionally, rising NBR demand in the production of several automobile components involving dash boards, kick panels, brake pads, and brake lining is projected to drive the growth of the global market. NBRs capability to uphold an extensive temperatures range makes it the best material for the applications in aerospace industry. Expansion in the aerospace industry, particularly in emerging regions is expected to fuel the global NBR market during the forecast period. Also, stiffness and hardness of NBR make it a perfect material for nuclear industry applications. NBR is chemical resistant as well as heat resistant and hence it is used over an extensive range of industrial and automotive applications. NBR is used as a substitute to latex materials owing to its high strength, puncture resistant and excellent flexibility properties. Major applications of NBR are; the manufacturing of medical & industrial gloves, adhesives, hose, sealants, cables, and belting. Moreover, speedy industrialization along with infrastructure expansion in several regions is expected to fuel the growth of NBR market in emerging countries during next few years. The rising utilization of NBR gloves in industrial & medical applications for protection purposes is projected to drive its market during the forecast period. Though, fluctuating costs of raw material along with ecological concerns are expected to hamper the growth of global NBR market.
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Application Outlook and Trend Analysis
Major applications of NBR observed in this report involve molded & extruded products, belting & cable, hose, adhesive & sealants, seals & O-rings, industrial & medical gloves, and others involving oil field products, cement, weather stripping cables and gaskets. Medical & Industrial gloves are expected to be the top growing application section while, belting, cable & hose has been the leading application section of the global NBR industry. NBR is widely utilized in oilfields for various applications such as, blow out preventers, seals, and Packers. Also, NBR is widely used in the automobile sector for the production of underhood components where temperatures constantly vary owing to compress airflow inside small engine compartments.
End User Outlook and Trend Analysis
In 2013, automotive was the leading end-user section of the NBR market worldwide, and the drift is expected to persist during the forecast years. Resistance to alkalis, minerals, acids, and oils along with tolerance to excessive temperatures has contributed to the wide application of NBR in an automobile over the last few years. Though, construction is expected to observe the top growth in NBR market during the next few years owing to the elevated rubber resistance to acids and friction, making it perfect for utilization in the production of several products involving seals. Furthermore, growing government expenditure on infrastructure is anticipated to fuel the growth of the NBR market during the forecast years.
Regional Outlook and Trend Analysis
Asia Pacific regional market ruled the global market concerning revenue as well as volume. Asia Pacific region was the leading consumer and is prone to be the top growing NBR market during the forecast years. Speedy industrialization, along with expansion in the automotive section is expected to fuel NBR market in emerging countries like China and India during the next few years. The North American market was the second major market due to elevated NBR demand from the healthcare industry. Though, fiscal recession in Europe and North America has affected the growth of NBR market during the last few years. European regional NBR market is projected to expand at a reasonable rate during the next few years since it is still getting better from the economic recession.
Competitive Outlook and Trend Analysis
The major market players for nitrile butadiene rubber (NBR) market are Zeon Chemicals, Lanxess AG, Synthos S.A., Omnova Solutions, Kumho Petrochemical Co., Versalis, Sibur Holding, and JSR Corporation. Lanxess supplies an extensive series of NBR products involving BAYMOD, PERBUNAN, and KRYNAC with high oil resistance, easy processing, high viscosity, high density, high abrasion resistance, and low-temperature flexibility for several end-user industries involving machine construction, automotive, plastic modification, gas/oil exploration, footwear, and electronics.
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The global nitrile butadiene rubber (NBR) market is segmented as follows –
By Product
Hose, belting and cable
Adhesives and sealants
Industrial and medical gloves
Seals and O-rings
Molded and extruded products
Others
By End User
Automotive
Machinery
Cots & aprons
Construction
Plastic modification
Wires & cables
Others
By Region
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia Pacific
Rest of the World
Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
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Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
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