SELBYVILLE, Delaware, June 22, 2020
- The growth of NBR powder market is driven by growing consumption of frictional materials in the automotive sector, says this report.
SELBYVILLE, Delaware, June 22, 2020 /PRNewswire/ -- As per Global Market Insights Inc., the Nitrile Butadiene Rubber (NBR) Powder Market is likely to surpass a valuation of nearly $698.4 million by 2026, registering a CAGR of 7.2% from 2020 to 2026. The report provides a detailed study of the top winning strategies, wavering industry trends, key investment avenues, overall market estimations & size, drivers & opportunities, and competitive scenario.
Escalating product consumption in key end-use sectors which includes footwear, construction, and automotive among others will augment the growth of nitrile butadiene rubber powder market over the forthcoming time period. The product is generally utilized to improve shock and heat fading resistance, reduce hardness, and enhance the friction coefficient. Furthermore, the product is used extensively in roofing & flooring, glazing gaskets, mortar in the construction sector. Ongoing development in the construction and automotive industry will boost the NBR powder consumption over the forecast time period.
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Based on particle size, the 0.15 - 0.30 segment is likely to hold over 15% market share by the end of the analysis period. It possesses a substantially high friction coefficient and is utilized in almost all application sectors such as friction material, abrasion resistance products, adhesives, and PVC modification among others.
Key reasons for NBR powder market growth
2026 forecasts anticipate the 'footwear' end-user segment showing appreciative growth
The footwear segment will hold substantial share in nitrile butadiene rubber powder market over the forecast timeframe. The product enhances numerous properties of footwear materials like permanent plasticizer, abrasion resistance, foaming stability, impact resistance, elasticity, and several mechanical properties. The rising young consumer demographic coupled with the increasing athleisure trend will drive the NBR powder demand in the footwear industry.
North America & Europe NBR powder industry to witness appreciative growth
North America nitrile butadiene rubber powder market will surpass $75 million by the end of the projected time period. Presence of key automotive manufacturers like Honda Motor Company, and Volkswagen Group coupled with the growing demand for commercial as well as luxury vehicles will flourish the growth of regional automotive industry. The improving standard of living and the subsequent rise in construction activities will further propel industry expansion in the region.
Europe NBR powder market will observe around 6% CAGR through the analysis time period. This is attributed due to growing presence of manufacturing units along with immense political support that focuses on bringing more facilities to the continent.
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Leading market players
The key market players analyzed in the nitrile butadiene rubber powder industry report include Sinopec, Zeon Chemicals, LG Chem, SIBUR, and Saudi Aramco (ARLANXEO) among others. They have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.