27-Sep-2021 | Zion Market Research
Some of key players in Nitrile Butadiene Rubber (NBR) market are Sibur Holding, Omnova Solutions, Zeon Chemicals LP, Lanxess AG, Nitriflex S.A. Indústria e Comércio, East-West Copolymer, Industrias Negromex, Kumho Petrochemical Co., Ltd., VersalisS.p.A., Sinopec Corporation, JSR Corporation, and among others. These players are set to bolster the development of Nitrile Butadiene Rubber (NBR) market.
According to analysts at Zion Market Research, the Nitrile Butadiene Rubber (NBR) market accounted for USD 1.2 Billion in 2020 and is expected to reach USD 1.8 Billion by 2028, growing at a CAGR of more than 7.2 % from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Nitrile Butadiene Rubber (NBR) Market by Product (Knee, Ankle, Spine, Shoulder, Neck, Elbow, Wrist, Facial, and others), Application (Ligament (ACL, LCL), Preventive, OA, and Compression), Distribution Channel (Hospitals, Clinics, Pharmacies, E-Commerce): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Streamlining of business processes cost effectively To Spur Growth
Nitrile Butadiene Rubber (NBR), usually said in market as Nitrile is a special elastomer. It is produced by polymerization technique on a larger scale in industry. NBR grades have better oil and abrasion resistance, low gas permeability, good heat resistance, hydrocarbon solvent resistance and others. NBR are usually used where good oil resistance is required, hence majorly used in industries where applications are related to oil & gas industry. They are widely used as sealing application. Major application includes gaskets, diaphragms, liners, hoses, tubing, O-Rings, and various other applications. Among its varied features, the ability to sustain different temperature levels makes it useful in the aerospace applications. Physical attributes such as hardness and stiffness of nitrile butadiene rubber make it the ideal material for use in the nuclear industry. All these factors contribute to the rising demand for nitrile butadiene rubber propelling its growth in the market.
Presence of Big Players in The Region Support Asia Pacific Dominance
Asia-Pacific had the largest consumption of nitrile butadiene rubber and it dominated the NBR market globally in terms of revenue as well as volume. The second largest market is North America due to the high demand for nitrile butadiene rubber in the medical industry. Developing countries such as India as well as China are growing in the nitrile butadiene rubber market owing to rapid industrialization and the growth in the automotive sector. The Economic recession had restrained the nitrile butadiene rubber market in the past but a moderate growth rate is expected in the European region in the coming years.
The regional segment of the NBR market report additionally gives singular market affecting variables and changes in guideline in the market locally that impacts the current and future patterns of the market. Information focuses like utilization volumes, import trade investigation, value pattern examination, cost of crude materials, down-stream and upstream worth chain examination are a portion of the significant pointers used to conjecture the market situation for singular countries.
Browse the full “Nitrile Butadiene Rubber (NBR) Market By Product (Hoses, Belts, Cables, Molded & Extruded Products, Seals & O-Rings, Rubber Compounds, Adhesives & Sealants, Gloves, Foamed Products, Others), Application (Automotive, Oil & Gas, Medical, Metallurgy & Mining, Construction, Others): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/nitrile-butadiene-rubber-market
The Nitrile Butadiene Rubber (NBR) market is segmented as follows:
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