Nitrile Butadiene Rubber (NBR) Market Opportunities and Forecasts 2018
Albany, NY -- (SBWire) -- 05/29/2018 --Nitrile Butadiene Rubber (NBR) Market - Global Forecast, Market Share, Size, Growth And Industry Analysis, 2012 - 2018", a report published by Transparency Market Research (TMR), attempts to measure the market performance of nitrile butadiene rubber in the global scenario. According to the report, the global nitrile butadiene rubber (NBR) market worth US$275.6 million in 2012, is projected to reach US$425.7 million by the end of 2019, registering growth at a moderate CAGR of 6.5% over the forecast period. On the basis of volume, the global market for NBR totaled 73,820.8 tons in 2012.
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The report highlights that the demand for specialty forms of NBR will continue to grow with its increased application across several end-use industries. NBR powder is also widely used in the automobile industry for the manufacture of oil/fuel hoses and seals, and in frictional materials as a binder. The escalating demand for automobile parts such as dashboards, brake pads, kick panels, and kick lining will significantly bolster the demand for NBR powder in the global market. Additionally, expansion of the two-wheeler market in emerging economies will also contribute to the growing demand for NBR powder in the global market over the next couple of years. However, the availability of potential substitutes such as thermoplastic olefins and thermoplastic elastomers in the segment of PVC modification could inhibit the growing demand for NBR powder.
The report has segmented the global market for NBR into two major types, namely linear and cross-linked or pre-cross-linked. According to the report, the global market for NBR is dominated by the latter segment, which is used in both frictional materials and resin modification alike. The linear NBR powder, on the other hand, is mostly demanded for the manufacture of gaskets and seals. The findings of the report indicate significant growth in the demand for both segments over the forecast period. The cross-linked NBR segment is projected to register exponential growth on the basis of volume. The segment is anticipated to grow at a 5.2% CAGR between 2013 and 2019.
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Based on application, the global market for NBR can be segmented into buildings, automotive, footwear, PVC modification, and others. PVC modification held the lion's share of the market in 2012, accounting for 48% of the global market. The report predicts the automotive segment to emerge as the fastest growing application segment of NBR powder by revenue, growing at a CAGR of 6.9% during the forecast period. Geographically, the global market for NBR powder can be segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific led the global NBR powder market in 2012, accounting for 44% of the global market, followed by Europe and Rest of the World with a combined global market share of 40%. The report indicates that the region will remain the undisputed leader of the market over the forecast period as well.
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