Fact.MR conveys vital insights on the hydrogenated nitrile butadiene rubber market in its report, entitled “Hydrogenated Nitrile Butadiene Rubber Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018-2027”. In terms of revenue share, the global hydrogenated nitrile butadiene rubber market is projected to enlarge at the growth CAGR of 7.6% over the forecast period (2018-2027), owing to abundant factors, about which FMR offers precise insights and forecast in our report.
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The global hydrogenated nitrile butadiene rubber market can be segmented by product type, by application, by end use industry and by region.
Preference for Synthetic Rubber likely to boost the Market Growth
Rubber is a staple commodity in industrial supply chains but the price is extremely volatile and is currently at record lows. Indonesia, Thailand, and Malaysia account for almost 70% of natural rubber and they have cut their exports as a result of plummeting prices. Thus, there is a shift towards synthetic rubbers such as hydrogenated nitrile butadiene rubber, especially in emerging economies. As the world’s population is growing rapidly, urbanization is the need of the hour. A large middle class demands real estate and self-mobility as both are usually viewed as a status symbol. Synthetic rubbers find widespread application in high-performance products directly contributing to the growth of the hydrogenated nitrile butadiene rubber market.
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The automotive industry is growing at a healthy clip and this is forecasted to continue in the medium term. Global auto sales have been largely driven by countries such as China, India, Indonesia, and Mexico. The automotive industry is the largest customer of the hydrogenated nitrile butadiene rubber market. Products such as O-rings, seals, synchronous timing belts, suspension parts, mountings, hoses, fan belts all necessitate frequent replacement benefiting the global hydrogenated nitrile butadiene rubber market.
Synthetic rubber such as hydrogenated nitrile butadiene rubber is deployed in a wide variety of end-uses. Hydrogenated nitrile butadiene rubber is used in industries ranging from the automotive, pharmaceutical, construction, and chemical industry. The tire producing industry consumes the bulk of the global production of hydrogenated nitrile butadiene rubber. Along with automotive tires, hydrogenated nitrile butadiene rubber is useful in the manufacturing of industrial rubber, automotive components, footwear, and adhesives. Due to its low heat buildup hydrogenated nitrile butadiene rubber is used by major tire manufacturers and is heavily promoted by them as a superior alternative to natural rubber. In the construction industry, hydrogenated nitrile butadiene rubber is used in windows, pipes, flooring, sound insulation, and roofing.
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The manufacturers operating in the global hydrogenated nitrile butadiene rubber market include Rahco Rubber, Inc., JSR Corporation, Kumho Petrochemical Co., Ltd., Zeon Corporation, Sibur Holding, ARLANXEO, Versalis S.p.A., OMNOVA Solutions Inc., Lianda Corporation, Synthos S.A., and others located across the globe.
The prominent market players in hydrogenated nitrile butadiene rubber market are concentrating on the extension of their production abilities and vertical integration for business development. Moreover, the players are investing to expand the distribution network and empower the business relationship. The marketing strategy by manufacturers is expected to contribute for the growth of hydrogenated nitrile butadiene rubber market in the forecast period, 2018-2027.
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