The global Fast Curing Nitrile Butadiene Rubber (NBR) market is forecast to reach USD 621.6 Million by 2027, according to a new report by Reports and Data. Fast Curing Nitrile Butadiene Rubber (NBR) is one of the most high-valued polymers which is processed through the hot polymerization processes. It has properties, such as good sealing retention, excellent oil resistance, and providing short curing time intervals and reduction of mold fouling in the floors of shops.
Increasing environmental regulations regarding the production of rubber are likely to hamper the demand of the market. Restrictions in the use of phthalates are also leading to reduced use of the product. Fluctuations in the prices of raw materials may make some manufacturers stay away from venturing into fast curing Nitrile Butadiene Rubber (NBR), which can lead to a decline in the size of the market.
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It is expected that when the situation becomes normal and the industries start operating again, the demand for the product will rise, and the market size will grow. The major players involved in the market are currently engaged in innovations so that when the market is operational again, they can capture a large size of the market. This is expected to help the market to grow even further.
Further key findings from the report suggest
- Molded and extruded products are likely to grow at a rate of 3.6% in the forecast period. Increasing investments in high-temperature injection molding for production of goods related to construction and automotive industries, due to increasing applications in the developing countries is likely to drive the demand for the segment,
- Online Stores occupied 26.6% of the market share in 2019. The product has traditionally been purchased through brick and mortar stores only, but, due to the increasing internet penetration, especially in developing countries, there is a slow shift occurring towards online stores.
- Construction is forecasted to grow at a CAGR of 4.1% during the forecast period. This is primarily due to rapid industrialization in countries such as China, Mexico, and India. The demand for products such as seals, extruded, and molded products are thus increasing in the regions, driving the demand for the construction segment.
- Europe is forecasted to grow at a CAGR of 3.7% during the forecast period. This is mainly due to the presence of countries such as Germany, Spain, France, Italy, and the UK, where the automotive industry has a strong foothold. However, the slow growth rate of the manufacturing sector in countries such as the UK and Germany is expected to lead to a slowdown of the Fast Curing NBR market in Europe.
- The Middle East and Africa is likely to grow at a rate of 2.2% in the period 2020-2027. The Saudi Arabian government’s announcement of the setting up of new vehicle manufacturing units in the country, which will lead to an increased use if fast curing NBR in sealing materials, is expected to drive the demand for the market in the region.
- Key participants include LG Chemicals, JSR Corporation, Lanxess AG, Zeon Chemicals, Kumho Petrochemical Co., Ltd., Huangshan Hualan Technology, PetroChina Company Limited, BASF SE, Sinopec, and TSRC Corporation, among others.
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For the purpose of this report, Reports and Data have segmented into the global Fast Curing Nitrile Butadiene Rubber (NBR) market on the basis of product, distribution channel, application, and region:
Product Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Hoses
- Belts
- Cables
- Molded and Extruded Products
- Seals and O-rings
- Rubber Compounds
- Adhesives and Sealants
- Gloves
- Foamed Products
- Others
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Offline Stores
- Online Stores
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- Automotive
- Mechanical Engineering
- Oil & Gas Production
- Mining
- Metallurgical
- Construction
- Medical
- Others
Regional Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- North America
- U.S
- Europe
- U.K
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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