SAN FRANCISCO, May 24, 2017 /PRNewswire/ --
The global fast curing nitrile butadiene rubber (NBR) market is expected to reach approximately USD 581.2 million by 2025, according to a new report conducted by Grand View Research, Inc. Favorable outlook for the automotive manufacturing sector in emerging economies such as China, India, and Mexico, as a result of increasing domestic consumption of four-wheeler vehicles, is expected to promote the market growth. Furthermore, the rising demand for lightweight automotive materials with excellent mechanical strength on account of shifting preference from metal to polymers amid the growing importance of driver comfort and aesthetics characteristics is expected to keep high penetration of the application over the next eight years.
Oil & gas is projected to foresee volume growth at a predicted CAGR of 3.7% from 2017 to 2025. The upscaling requirements of consumables and products for sensitive conditions concerning temperature and pressure fluctuations are expected to play a crucial role in increasing the activity about high-temperature molding. This trend is projected to promote the usage of fast curing NBR products in the form of hoses, seals, and O-rings in the petroleum industry.
Browse full research report with TOC on "Fast Curing Nitrile Butadiene Rubber (NBR) Market Analysis By Product (Hoses, Cables, Belts, Seals & O-rings, Rubber Compounds, Adhesives & Sealants, Gloves, Foamed Products), By Application, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/fast-curing-nitrile-butadiene-rubber-nbr-market
Further key findings from the report suggest:
- The Global fast curing NBR demand was 132.4 kilo tons in 2016 and is expected to reach 181.6 kilo tons by the end of 2025, expanding at a CAGR of 3.6% from 2017 to 2025.
- Rising concerns over mold fouling during polymer processing in automotive, and oil & gas industry is expected to force the buyers to procure products with fast curing rates. However, increasing market size of silicone elastomers with good conductive properties and excellent mechanical characteristics is expected to pose a credible threat to fast cured polymers over the projected period.
- Disposable gloves are expected to foresee volume growth at a CAGR of 3.8% from 2017 to 2025. The introduction of disposable gloves in developed economies including Germany and the UK which are used on a single patient became very popular owing to the low risk of contamination. These products are based on polymers including latex, rubber, nitrile rubber, neoprene and vinyl which are capable of protecting patients and physicians from cross-contamination during medical examinations.
- Asia Pacific is expected to witness fastest revenue growth at a CAGR of 4.4% from a period of 2017 to 2025. The government of China announced funding of USD 1.1 trillion for infrastructure improvement in March 2015. This announcement is expected to increase the demand for fast curing NBR based sealants.
- Key industry participants include Lanxess, JSR, Kumho Petrochemicals and Zeon Chemicals. Product innovation and the establishment of a strategic partnership with buyers are expected to remain critical success factors for the industry participants.
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Grand View Research has segmented the global fast curing NBR market on the basis of product, application, and region:
- Fast Curing NBR Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- Molded & Extruded Products
- Seals & O-rings
- Rubber Compounds
- Adhesives & Sealants
- Foamed Products
- Fast Curing NBR Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- Mechanical Engineering
- Oil & Gas
- Metallurgy & Mining
- Fast Curing NBR Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
- North America
- Asia Pacific
- Central & South America
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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