Nitrile Butadiene Rubber Market to Grow $485.0 mn, Globally by 2020: Analysis of Key Players
Zion Market Research has published a new report titled “Nitrile Butadiene Rubber Market for Hose, Cable & Belting, Medical & Industrial Gloves, Adhesives & Sealants, O-Rings & Seals, Molded & Extruded Products and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2014 – 2020” According to the report, the global nitrile-butadiene rubber market was valued at approximately USD 300.0 million in 2014 and is expected to reach approximately USD 485.0 million by 2020, growing at a CAGR of slightly above 6.0% between 2015 and 2020. In terms of volume, global nitrile-butadiene rubber market stood at 75.0 kilo tons in 2014.
The major driving factor of nitrile-butadiene rubber market is strong demand for manufacturing different automotive components such as brake lining, dash boards and kick panels. Increasing demand from medical & industrial gloves industry is another key factor that contributes market growth during the forecast period. Moreover, developing infrastructure coupled with rising industrialization worldwide is expected to further fuel the market growth. However, environmental awareness and price volatility are expected to hamper the growth of NBR market in the years to come.
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The nitrile butadiene rubber market is classified on the basis of various applications such as medical & industrial gloves, hose, cable & belting, adhesive & sealants, molded & extruded products, o rings & seals and others. Hose, cable & belting was one of the leading application segments for nitrile butadiene market in 2014. It accounted for over 25.0% market share of the total volume consumed in 2014. It is expected to exhibit rapid growth with significant CAGR between 2015 and 2020. This growth can be attributed to rising demand for hose, belts & cable from manufacturing industries. Adhesives & sealants, o-rings & seals are other important segments for nitrile-butadiene rubber. Medical & industrial gloves segment is also expected to exhibit fastest growth during the forecast period.
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Geographically, Asia Pacific was the leading regional market for nitrile-butadiene rubber and accounted for largest market share in 2014. This region was followed by Asia pacific. The growth can be attributed to increasing demand from automotive industry in this region. North America is expected to grow at moderate rate as compared to Asia pacific and Europe.
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Some of the key -participants in nitrile butadiene rubber market includes Lanxess AG, KOSSAN RUBBER INDUSTRIES BERHAD, Zeon Chemicals, Synthos S.A., Adventa, Kumho Petrochemical Co., JSR Corporation, Sibur Holding and Versalis among others.
This report segments the global nitrile butadiene rubber market as follows:
Global Nitrile Butadiene Rubber Market: Application Segment Analysis
- Hose, Cable & Belting
- Medical & Industrial Gloves
- Adhesives & Sealants
- O-Rings & Seals
- Molded & Extruded Products
Global Nitrile Butadiene Rubber Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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