Fast Curing Nitrile Butadiene Rubber Market - Special Focus on United States, Europe, Japan & China
The global fast curing nitrile market was valued at USD 678 million in 2017 and is anticipated to grow at a CAGR of 4.7% during the forecast period.
Fast curing nitrile butadiene rubber is majorly used in aeronautical applications owing to its ability to withstand a wide range of temperatures. It also offers other properties such as high oil resistance, improved performance, high compression modulus, and high sealing force retention. The demand for fast curing nitrile butadiene rubber has increased in production of molded products, adhesives, gaskets, footwear, sealants, and sponges among others.
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This rubber is also used in molded products, adhesives, gaskets, footwear, sealants, and sponges among others. The increasing application in manufacturing of automotive products, and growing demand for vehicles drive the growth of the market. Rapid industrialization, rising automobile production, and modernization of industrial machinery further boost the growth of the market.
Other driving factors include rising applications in molded and extruded products, and increasing demand from construction, mining, and medical applications. Rising demand from the emerging nations, and technological advancements is anticipated to provide numerous growth opportunities to the market players during the forecast period.
The increasing use of product for production of V belts, O-rings, fuel hoses, seals, and other products in the automotive industry boosts the market growth. Increasing requirement from emerging economies, technological advancements, and growing adoption of green technology are the factors that are anticipated to offer numerous opportunities over the forecast period.
Competitive Landscape and Key Vendors
Asia-Pacific generated was the largest regional market in 2017. The increasing demand for automotive in the region coupled with rising disposable income drives the market growth in the region. The rapid industrialization in China, Japan, and India, along with increasing demand from construction, mining, and oil and gas industries would support market growth during the forecast period. The modernization of vehicles, and technological advancements would boost the market growth.
The leading companies profiled in the report include LG Chemicals, JSR Corporation, Lanxess AG, Zeon Chemicals, Kumho Petrochemical Co., Ltd., Huangshan Hualan Technology, PetroChina Company Limited, and BASF SE.
The global fast curing nitrile butadiene rubber market has been segmented on the basis of its application, end-user, and also by regional market. Based on application, the market is segmented into cables, hoses, rubber compounds, adhesives & sealants, belts, molded and extruded products, and others.
On the basis of end-user, the market is segmented into Automotive, Healthcare, Mining, Construction, Oil and Gas, and others. The automotive segment accounted for the highest market share in 2017 owing to increasing demand for passenger vehicles, and modernization of automobiles.
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