Nitrile Butadiene Rubber (NBR) Market Size, Share, Growth, Price Trends and Forecast Report, 2018 to 2025
The global nitrile butadiene rubber (NBR) market size stood at USD 1.94 billion in 2016. Automotive, oil & gas, and mechanical engineering sectors are a few of the major applications that significantly consume synthetic rubber goods such as cables, hoses, and extruded goods. This in turn is likely to drive the demand for NBR over the forecast period.
(firmenpresse) - The global nitrile butadiene rubber (NBR) market is expected to reach USD 2.59 billion by 2025, growing at a CAGR of 3.3%, according to a new report by Grand View Research, Inc. Asia Pacific is expected to provide ample scope for the industry growth of NBR by the end of 2025. China, India, and Southeast Asian countries are likely to reflect a strong growth scenario in the future.
NBR is one of the versatile synthetic rubbers that is highly consumed in high end applications, which require the product to be highly sustainable to varying operational and climatic conditions. This makes the product suitable for use in a wide array of industries.
NBR demand in China and India is expected to be driven by significant industrial developments of key end-use sectors in the region including automotive & transportation, metallurgy & mining, oil & gas, equipment & machinery, and medical sectors. These recent developments have propelled the requirements of mechanical goods such as cables, belts, gaskets, and seals.
Rise in the consumer disposable income and purchasing power in ASEAN countries including Indonesia and Thailand, has led to a rapid growth of the automotive industry as well as a strong increase in aftermarket activities. Moreover, increase in the healthcare expenditure in these countries is another key factor that is expected to boost the consumption of nitrile gloves by 2025.
Further key findings from the report suggest:
& O-rings segment is expected to rise at a CAGR of 2.9% from 2017 to 2025. This category is expected to generate a market revenue of nearly US$ 491.3 million by the end of the forecast period.
& hygiene sector
& O-rings in the oil & gas sector.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Sherry James
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales(at)grandviewresearch.com
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Datum: 11.12.2019 - 04:44 Uhr
Sprache: Deutsch
News-ID 1554666
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