Hydrogenated Nitrile Butadiene Rubber Market Poised to Garner Maximum Revenues by 2024
Hydrogenated nitrile butadiene rubber is a form of synthetic rubber, which is a copolymer of hydrogenated acrylonitrile and butadiene. Compounds of rubber which are mixed with highly saturated nitrile rubber and hydrogenated nitrile butadiene rubber exhibit high strength and are also able to retain their properties after exposure to oil, heat, weathering, and numerous industrial chemicals. Hydrogenated nitrile butadiene rubber displays properties superior to regular nitrile butadiene rubber and other related polymers. It can be used over long periods in a broad range of temperatures (-40°C to 165°C) with nominal degradation. The enhanced properties in hydrogenated nitrile butadiene rubber result from the addition of hydrogen in regular nitrile butadiene rubber to raise the butadiene capacity of the carbon-based polymer foundation. Typical applications of this product include automotive seals, synchronous timing belts, hoses, and various other components used for oil field explorations and other manufacturing processes.
On the basis of application, the global hydrogenated nitrile butadiene rubber market is divided into the following categories: hoses, belts & cables, adhesives & sealants, seals & o-rings, industrial & medical gloves, and others. Hoses and belts & cables held a significant market share in 2016. This trend is expected to continue during the forecast period owing to the increasing demand from the automotive and manufacturing industries in regions such as Asia Pacific. The industrial & medical gloves segment is estimated to observe rapid growth during the forecast period. Demand for industrial & medical gloves is projected to remain high due to their exceptional resistance to alkaline compounds and industrial chemicals. Developments in the medical industry coupled with the implementation of government regulations in regards to the safety of workers is anticipated to drive this segment.
In terms of end-user industry, the global hydrogenated nitrile butadiene rubber market can be bifurcated into the following sectors: automotive, machinery, construction, medical, and plastic. The automotive sector held a prominent share in the global hydrogenated nitrile butadiene rubber market in 2016 owing to its expansion to developing nations such as China, India, and Brazil, coupled with the rusing purchasing power of the general populace around the world. The segment is likely to witness rapid growth during the forecast period. The machinery, construction, medical, and plastic industry segments are also predicted to demonstrate decent growth during the forecast period.
Geographically, the global hydrogenated nitrile butadiene rubber market is distributed over the following five major regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific held a dominant share in the market in 2016 and is projected to retain its dominance during the forecast period. This can be attributed to the presence of prominent automotive and pharmaceutical companies in the region coupled with the rapid industrialization in countries such as China and India. North America and Europe also constituted a considerable share in the market in the same year. The application of hydrogenated nitrile butadiene rubber in the medial and automotive industries is estimated to propel the market in these regions. The markets in Latin America and Middle East & Africa are poised to expand at a steady rate.
Key players operating in the global hydrogenated nitrile butadiene rubber market include Lanxess AG, Zeon Corporatrion, Kumho Petrochemical Co., Ltd., Synthos S.A., JSR Corporation, Sibur Holding, Versalis S.p.A., ARLANXEO, and OMNOVA Solutions Inc.
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