Nitrile butadiene rubber demand continues to be strongly driven by surging applications in frictional compounds for enhancing the abrasion coefficient. Frictional materials, being an integral part of automobiles, is set to for an exponential demand growth in the forthcoming years. These insights are according to the latest Fact.MR analysis that remains bullish on the growing demand for nitrile butadiene rubber in the future.
Burgeoning production of vehicles remains a broad factor boosting adoption of nitrile butadiene rubber, unveils the Fact.MR report. As per data by the OICA, the worldwide sales of vehicles accounted for more than 96 million in 2017, out of which the U.S., China, & Japan accounted for more than 17.5 million, 29 million, & 5 million in the respective order.
Fact.MR’s study offers incisive insights on hydrogenated nitrile butadiene rubber market. A summary of the report is available on request.
“Remarkable upswing in demand for automobiles across emerging economies, such as India, Brazil, and China, will make the developing nations highly lucrative for manufacturers of nitrile butadiene rubber. In addition to this, surging demand for effective frictional materials from the railway sector for building heavy duty railway blocks is poised to boost sales of nitrile butadiene rubber”, says Fact.MR report
Several industries, including mechanical engineering, medical, construction, and automotive, remain some of the significant end-use segments with respect to demand for nitrile butadiene rubber. This, in turn, is likely to offer prime opportunities for the market players to solidify their market sustenance.
Paradigm Shift toward Synthetic Rubber to Bolster Demand
According to the research study, the demand for hydrogenated nitrile butadiene rubber is likely to grow at an impressive CAGR of over 7.5% through 2027. This growth can be attributed to a cohort of factors, ranging from progressive growth of automotive industry to drastic shift of end-use industries toward synthetic rubber.
A shift toward synthetic rubbers, including hydrogenated nitrile butadiene rubber, notably in developing economies is gaining traction. A burgeoning middle class demographic is driving the demand for self-mobility and real estate, which in turn is bolstering use of hydrogenated nitrile butadiene rubber. Synthetic rubbers find extensive adoption across applications seeking high performance products, creating sustained opportunities for adoption of hydrogenated nitrile butadiene rubber.
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Growth of automotive landscape is prospering is recorded at a healthy rate and this status quo is likely to remain unaltered. Significant sales of automotive across countries including India, China, Mexico, and Indonesia is also one of the key factors bolstering demand for hydrogenated nitrile butadiene rubber.
Synthetic rubber, with hydrogenated nitrile butadiene rubber being a subset, is finding extensive deployment across a multiple end-use industries. Multiple industries, such as pharmaceutical, construction, chemical industry, and automotive, will continue to be some of the leading end-use industries in terms of demand for hydrogenated nitrile butadiene rubber.
In this report, Fact.MR opines that price volatility and demand-supply inconsistencies associated with rubber results in end-users inclination toward viable alternatives, including hydrogenated nitrile butadiene rubber. Among all the end-use industries, automotive remains one of the leading and most prominent end use industries of hydrogenated nitrile butadiene rubber market and is foreseen to retain its lucrativeness in the future. Aforementioned aspects are likely to boost growth of hydrogenated nitrile butadiene rubber market over the assessment period.
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The Fact.MR report elaborates on the latent opportunities in the nitrile butadiene rubber market over the forecast period of 2018 to 2027.
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Mohit Loshali, an experienced campaigner, writes about the latest evolutions and trends in the automotive and allied domains. He has helped clients from across the globe with his thought-provoking research and analysis.