In terms of revenue share, the global hydrogenated nitrile butadiene rubber market is projected to enlarge at the growth CAGR of 7.6% over the forecast period (2018-2027).
Rockville Pike, MD -- (SBWIRE) -- 05/17/2019 -- The Hydrogenated Nitrile Butadiene Rubber market is envisioned to observe an impressive rise in the forecast period 2018 to 2027, according to a new Fact.MR study. The study propounds key trends that are currently shaping the growth of the Hydrogenated Nitrile Butadiene Rubber market. This newly published and insightful report sheds light on key dynamics, which are expected to transform future of the Hydrogenated Nitrile Butadiene Rubber market, in turn creating lucrative avenues for prominent companies as well as emerging players associated with the manufacturing of Hydrogenated Nitrile Butadiene Rubber.
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The global market for Hydrogenated Nitrile Butadiene Rubber was valued at US$ 10,582.4 Mn in 2017. The market is forecast to expand at a CAGR of 7.6% by value during the forecast period, 2018-2027.
Hydrogenated Nitrile Butadiene Rubber is the synthetic rubber having retention properties and physical strength after the long term exposure to chemicals, oils and heat. It is also known as highly saturated nitrile. The hydrogenated nitrile butadiene rubber widely used in automotive industry to manufacture O-rings for air conditioning system.
APEJ, Prominent Producer & Consumer of the Hydrogenated Nitrile Butadiene Rubber
APEJ is estimated to account for considerable value share in the global Hydrogenated Nitrile Butadiene Rubber market in the year 2017, and the market share in US $ is anticipated to get near about one and half times during the forecast period, 2018-2027. The continent is steered by the maximum production of Hydrogenated Nitrile Butadiene Rubber and also continue to demand maximum for Hydrogenated Nitrile Butadiene Rubber.
In the past few years, the governments of rubber producing countries such as Vietnam, Sri Lanka, Thailand, Malaysia, Indonesia, and India have been providing economic assistance to farmers engaged in the cultivation of rubber. Furthermore, the government is supporting rubber manufacturing units with favorable policies including tax breaks, subsidies, custom duty waivers, etc. For e.g. – Excessive monsoonal rainfall in India almost five years ago reduced the rubber production of that year. The Indian govt. helped rubber manufacturing firms and growers various offers such as planting, trade fairs, buyer-seller meets, and exhibitions.
The aforementioned factors are expected to enhance the growth rate over the forecast period in the Hydrogenated Nitrile Butadiene Rubber market by the end of 2027.
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Global Hydrogenated Nitrile Butadiene Rubber Market: Competition Dashboard
Fact.MR has profiled some leading companies in the Hydrogenated Nitrile Butadiene Rubber market such as Rahco Rubber, Inc., JSR Corporation, Kumho Petrochemical Co., Ltd., Zeon Corporation, Sibur Holding, ARLANXEO, Versalis S.p.A., OMNOVA Solutions Inc., Lianda Corporation, Synthos S.A., and others located across the globe.
The prominent market players in hydrogenated nitrile butadiene rubber market are concentrating on the extension of their production abilities and vertical integration for business development. Moreover, the players are investing to expand the distribution network and empower the business relationship. The marketing strategy by manufacturers is expected to contribute for the growth of hydrogenated nitrile butadiene rubber market in the forecast period, 2018-2027.
Global Hydrogenated Nitrile Butadiene Rubber Market: Key Insights
The Hydrogenated Nitrile Butadiene Rubber market has grown consistently at a growth rate of 7.6%, and the market has been escalating at a significant pace. The growth of the automotive industry and chemical industry impacts the demand for Hydrogenated Nitrile Butadiene Rubber and also increases the market competitiveness.
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