San Francisco, Feb. 01, 2016 (GLOBE NEWSWIRE) -- Nitrile Butadiene Rubber (NBR) Market By Application (Hose, Belting & Cable, Adhesives & Sealants, Industrial & Medical Gloves, Seals & O-Rings, Molded & Extruded Products), By End-use (Automotive, Machinery) Expected To Reach USD 2.68 Billion By 2020
Global Nitrile Butadiene Rubber (NBR) Market is expected to reach USD 2.68 billion by 2020. Increasing use of NBR in the manufacture of automotive parts including dash boards and brake liners coupled with growing demand for automobiles is anticipated to drive market growth over the forecast period. Growing awareness regarding hygiene and safety in healthcare and manufacturing industries is expected to augment demand for NBR gloves owing to their high resistance to a host of chemicals and solvents.
Hose, belting & cable was the largest application, accounting for more than 25% of market share in 2013. Increasing demand for hose, belts & cable from automotives and manufacturing industries coupled with rapid industrialization, particularly in Asia Pacific, is likely to fuel growth of NBR over the forecast period. Industrial & medical gloves are expected to be the fastest growing application segment of the market on account of rising safety measures in these sectors.
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Further key findings from the study suggest:
- Industrial & medical gloves are anticipated to be the fastest growing application segment growing at a CAGR of 5.8% between 2014 and 2020. Increasing demand for NBR gloves on account of their excellent resistance to chemicals and alkalis as well as chemical and structural stability is anticipated to drive market growth. Growth of the medical and manufacturing sectors coupled with implementation of safety regulations for workers is expected to augment market demand over the next six years.
- Asia Pacific was the largest market for NBR owing to the presence of pharmaceutical and automotive manufacturing base in the region. Rapid industrialization, particularly in China and India, over the next six years is anticipated to augment NBR demand.
- Automotives was the largest end-use segment for NBR in 2013 accounting for over 50% of the market volumes. Increasing demand for automobiles on account of improving infrastructure and higher purchasing power of consumers is likely to subsequently augment global NBR market growth over the forecast period.
- Key market players for NBR market include Lanxess AG, Zeon Chemicals, Synthos S.A., Kumho Petrochemical Co., JSR Corporation, Sibur Holding, Versalis and Omnova Solutions. Lanxess provides a wide range of NBR products including PERBUNAN, KRYNAC and BAYMOD with high viscosity, high density, high oil resistance, low temperature flexibility, easy processing and high abrasion resistance for various end-use industries including automotive, machine construction, gas/oil exploration, electronics, footwear and plastic modification.
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Global Nitrile Butadiene Rubber (NBR) Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Hose, belting and cable
- Adhesives and sealants
- Industrial and medical gloves
- Seals and O-rings
- Molded and extruded products
Global Nitrile Butadiene Rubber (NBR) End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- Cots & aprons
- Plastic modification
- Wires & cables
Global Nitrile Butadiene Rubber (NBR) Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- North America
- Asia Pacific
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