Global Nitrile Butadiene Rubber Market - High Demand from Automotive Sector to Boost Growth | Technavio

The global nitrile butadiene rubber (NBR) market is expected to grow at a CAGR of over 5% during the period 2018-2022, according to a new market research study by Technavio.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180208005559/en/

The report categorizes the global NBR market based on application such as hose, belting, and cable, seals and o-rings, industrial and medical gloves, molded and extruded products, adhesives and sealants, and others. The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

Save more with Technavio. Buy 2 reports and get the third for free: View Technavio’s latest discounts and promotions

Market driver: increasing consumption from automotive and aeronautical industries

NBR is used extensively in the automotive and aeronautical industries. The automotive industry is projected to be the largest end-user of NBR during the forecast period. NBR is used in the automotive and aeronautical industries to produce fuel hoses, oil hoses, grommets, seals, and binders of frictional materials. Ordinary rubber cannot be used for these applications. The capability of NBR to withstand extreme temperatures from -104°F to 224.6°F makes it popular in both the industries.

It is also used to manufacture certain automotive components including brake lining, dashboards, kick panels, and oil and fuel level sensors. Demand for NBR in the production of automobile parts is expected to grow in the forthcoming years. The rising number of automobiles across the globe and the demand for NBR from numerous applications will stimulate the growth of the global NBR market.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: rising demand for bio-based feedstock

The use of bio-based feedstock in the production of synthetic rubber is a popular trend. The development of renewable chemicals to produce rubber is growing rapidly on the grounds of achieving sustainability. High prices and declining supply of petroleum raw materials and natural rubber have stimulated the use of renewable feedstock to produce synthetic rubber. Major players in the market are focusing on producing NBR from bio-based raw materials. They are partnering with industrial biotech firms to commence the commercial production of bio-based rubber raw materials.

According to a senior analyst at Technavio for plastics, polymers, and elastomers research, “Bio-based butadiene is produced with the help of renewable raw material sources such as non-food biomass. Sugar, glycerin, and other plant-based raw materials are evolving as economically viable materials to replace conventional feedstocks, including butadiene and isoprene. Industrial biotechnology companies, such as Gevo, Genencor, Amyris, and Genomatica, are focusing on producing bio-based rubber ingredients made from sugar. Michelin partnered with technology firms such as Axens and Tereos to convert biomass to butadiene.”

Market challenge: fluctuating raw material prices

Consistent price fluctuations of raw materials used to manufacture NBR will pose a major challenge to the manufacturers. NBR is a copolymer of acrylonitrile and butadiene. Thus, its prices are directly affected by the prices of these primary inputs. Both the raw materials are produced from crude oil sources which is subject to significant market fluctuations.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.

Some of the major contributors in the global NBR market:

• JSR Corporation
• KUMHO PETROCHEMICAL
• LANXESS
• SIBUR
• Versalis

Big savings with Technavio this February!

Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.

OR

Celebrate winter sports with 23% OFF all reports in our Outdoor Gear library (Offer valid from Feb 9-25).

About Technavio

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 consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. 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.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180208005559/en/