(PharmaNewsWire.Com, March 13, 2020 ) The report "NBR Market by Application (O-Rings & Seals, Hoses, Belts & Cables, Molded & Extruded Products, Adhesives & Sealants, Gloves), End-use Industry (Automotive & Transportation, Industrial, Oil & Gas, Medical), and Region - Global Forecast 2022", The Nitrile Butadiene Rubber (NBR) market is projected to grow from USD 992.4 Million in 2017 to USD 1,393.0 Million by 2022, at a CAGR of 7.0% between 2017 and 2022. The growth of the NBR market can be attributed to the rising demand from NBR from end-use industries, such as automotive & transportation, oil & gas, industrial, and medical.
The O-rings & seals segment is the largest application segment of the NBR market.
NBR is widely used in the production of O-rings & seals due to its desirable properties that include low compression set, high tensile strength, and improved abrasion resistance as well as oil resistance. NBR O-rings & seals are usually recommended for use with hydrocarbon fuels. O-rings & seals with low acrylonitrile content (approx. 18.0%) are primarily used for low-temperature applications.
The automotive & transportation segment is the fastest-growing end-use industry segment of the NBR market.
NBR is used in tire and non-tire applications in the automotive & transportation industry. The increasing demand for tires offering a smooth ride with improved fuel efficiency has compelled automated manufacturers to use NBR for the development of tires, which are used in military vehicles and heavy-duty vehicles. NBR is also used in the manufacture of coated tire cord fabrics providing fundamental properties, such as controlled deformation, high strength and affinity, and improved abrasion resistance.
Browse in-depth TOC on "NBR Market” 156 - Market Data Tables 42 - Figures 149 - Pages
NBR is also used in fuel and oil handling hoses, grommets, and self-sealing fuel tanks. Rising production of automobiles and increasing investments in the transportation industry are key factors projected to drive the demand for NBR from the automotive industry.
The Asia Pacific region is estimated to be the largest market for NBR. China, Japan, and South Korea are key countries contributing to the growth of the NBR market in this region. The growth of the end-use industries such as automotive & transportation, industrial, oil & gas, and medical is one of the most significant factors projected to drive the demand for NBR in the Asia Pacific region.
Key companies profiled in the NBR market research report include LANXESS (Germany), Sinopec (China), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), SIBUR Holding (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corporation (Japan).
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