The global nitrile rubber market is expected to reach USD 3.48 Billion by 2030, according to a new report by Reports and Data. Nitrile rubber finds application in the automotive industry and several other industrial purposes in producing components, including dashboards, kick panels, and brake pads, among others. It is considered as the workforce of rubber products in end-use sectors. It is extensively deployed owing to its better heat resistance, puncture resistance, fuel resistance, and chemical resistance in comparison to natural rubber. Amongst its varied properties, the ability to sustain various temperature levels makes it beneficial in the aerospace applications. Physical characteristics like hardness and stiffness of nitrile rubber make it a suitable material for application in the nuclear industry.
Top Companies Operating in the Global Nitrile Rubber Market:
Lanxess, Kumho Petrochemical, Sinopec, TSRC Corporation, JSR Corporation, LG Chem, Versalis SPA, Zeon Corporation, Omnova Solutions Inc., and Sibur Holdings
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Further key findings from the report suggest
- By application, seals O-rings contributed to the largest market share in 2019 and is expected to grow at a rate of 6.3% in the forecast period. Nitrile O-rings are possibly the most economical and extensively used elastomer in the market. Benefits of the product, mainly in areas where the seal may be exposed to oils, hydrocarbons, water, petrol, and hydraulic fluids, comprise excellent tear and abrasion resistance and low cost. Nitrile O-rings are used in automotive, aircraft fuel systems, and marine applications, among others.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 8.2% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- By industry vertical, the automotive transportation industry dominated the market in 2019 and is expected to grow at a rate of 6.3% in the forecast period. Nitrile rubber is used in the automotive industry to manufacture fuel and oil handling hoses, grommets, seals, and self-sealing fuel tanks, as ordinary rubbers cannot be used. Tires made from this rubber are popular for their ability to endure extreme temperatures and can retain their shape in spite of carrying heavy loads.
- The market in the Asia Pacific region held the largest market share ad is likely to grow at a rate of 7.4% in the forecast period. The market dominance of the APAC region is attributed to the rapid urbanization, rise in the level of disposable income, and growth of the end-use industries, particularly the automotive and footwear industry.
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The Nitrile Rubber market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Nitrile Rubber market.
The global Nitrile Rubber market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
Type Outlook:
- Linear
- Cross-linked
Form Outlook:
- Hydrogenated
- Carboxylated
Application Outlook:
- O rings Seals
- Hoses
- Belts Cables
- Adhesives Sealants
- Plastic foam
- Industrial Medical Gloves
- Others
Industry Outlook:
- Automotive
- Oil Gas
- Industrial
- Medical
- Construction
- Metallurgy Mining
- Others
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