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NEW YORK , April 29, 2022 /PRNewswire/ -- The Nitrile Butadiene Rubber Market Share is expected to increase by USD 319.03 million from 2021 to 2026 with an accelerated CAGR of 4.5%, according to the recent market study by Technavio.
Segmentation by Application (In-Scope/Out-of-Scope)
The nitrile butadiene rubber market share growth by the HB and C segments will be significant during the forecast period. The hose, belting, and cable segment is the largest in the global nitrile butadiene rubber market. Nitrile butadiene rubber is widely used in different industries, such as automotive and aeronautical, to produce fuel-handling hoses and oil-handling hoses. It is used to make products that require high resistance to oil, fuel, temperature, and chemicals. Therefore, numerous industries are consuming nitrile butadiene rubber on a large scale to manufacture hoses, conveyor belts, and cables. Such increasing consumption of HB and C will drive the NBR market during the forecast period.
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The nitrile butadiene rubber market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Learn More about Key Market Driver & Challenge-
Nitrile butadiene rubber is extensively used in the automotive and aeronautical industries to produce fuel hoses, oil hoses, grommets, seals, and binders of frictional materials. Well, the capability of nitrile butadiene to withstand extreme temperatures from -104 degree Fahrenheit to 224.6 degree Fahrenheit makes it popular in both industries. Moreover, the global automotive market is growing with high demand for lightweight and fuel-efficient vehicles. Thus, the increasing vehicle demand and importance of nitrile butadiene rubber in various automotive applications are the major stimulants of the growth of the global nitrile butadiene rubber market.
Primarily, the prices of petrochemicals are dependent on the price of natural gas and crude oil. Due to the supply-demand imbalance and the volatile political situation in the Middle East , which has the major share of the world oil supply, there has always been increased volatility in the price of crude oil in the overseas market. Thus, the manufacturers of synthetic rubber may not be able to plan and manufacture accordingly because of the fluctuating raw material prices. Furthermore, there was a drastic decline in the prices in the last few years, which was a relief to nitrile butadiene rubber manufacturers. However, the prices are expected to increase again in the coming years as Russia and Saudi Arabia , the largest suppliers of crude oil, are planning for a supply cut. Such fluctuating prices of raw materials are challenging the nitrile butadiene rubber market growth.
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Butadiene Market by Derivative Type and Geography - Forecast and Analysis 2022-2026: The butadiene market share is expected to increase by USD 10.77 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.15%. To get more exclusive research insights: Download Sample Report
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Nitrile Butadiene Rubber Market Scope
Accelerate at a CAGR of 4.5%
APAC, Europe, North America, South America, and Middle East and Africa
US, China, Japan, India, and Germany
Leading companies, competitive strategies, consumer engagement scope
Abbott Rubber Co. Inc., AirBoss of America Corp., Apcotex Industries Ltd., Atlantic Gasket Corp., China National Petroleum Corp., Eni Spa, EW Polymer Group LLC, Grupo Dynasol, Hanna Rubber Co., JSR Corp., Kumho Petrochemical Co. Ltd., LANXESS AG, LG Chem Ltd., NANTEX INDUSTRY Co. Ltd., Nitriflex, Rahco Rubber Inc., SIBUR Holding PJSC, Synthos SA, TSRC Corp., and Zeon Corp.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com/
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