Hydrogenated Nitrile Butadiene Rubber Market is Expected to Witness Healthy Growth at 7.6% CAGR through 2027

Fact.MR conveys vital insights on the hydrogenated nitrile butadiene rubber market in its report, entitled “Hydrogenated Nitrile Butadiene Rubber Market: Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018-2027”.

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In terms of revenue share, the global hydrogenated nitrile butadiene rubber market is projected to enlarge at the growth CAGR of 7.6% over the forecast period (2018-2027), owing to abundant factors, about which FMR offers precise insights and forecast in our report.

The global hydrogenated nitrile butadiene rubber market can be segmented by product type, by application, by end use industry and by region.

Preference for Synthetic Rubber likely to boost the Market Growth

Rubber is a staple commodity in industrial supply chains but the price is extremely volatile and is currently at record lows. Indonesia, Thailand, and Malaysia account for almost 70% of natural rubber and they have cut their exports as a result of plummeting prices.

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Thus, there is a shift towards synthetic rubbers such as hydrogenated nitrile butadiene rubber, especially in emerging economies. As the world’s population is growing rapidly, urbanization is the need of the hour. A large middle class demands real estate and self-mobility as both are usually viewed as a status symbol. Synthetic rubbers find widespread application in high-performance products directly contributing to the growth of the hydrogenated nitrile butadiene rubber market.

The automotive industry is growing at a healthy clip and this is forecasted to continue in the medium term. Global auto sales have been largely driven by countries such as China, India, Indonesia, and Mexico. The automotive industry is the largest customer of the hydrogenated nitrile butadiene rubber market. Products such as O-rings, seals, synchronous timing belts, suspension parts, mountings, hoses, fan belts all necessitate frequent replacement benefiting the global hydrogenated nitrile butadiene rubber market.

Synthetic rubber such as hydrogenated nitrile butadiene rubber is deployed in a wide variety of end-uses. Hydrogenated nitrile butadiene rubber is used in industries ranging from the automotive, pharmaceutical, construction, and chemical industry.

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The tire producing industry consumes the bulk of the global production of hydrogenated nitrile butadiene rubber. Along with automotive tires, hydrogenated nitrile butadiene rubber is useful in the manufacturing of industrial rubber, automotive components, footwear, and adhesives. Due to its low heat buildup hydrogenated nitrile butadiene rubber is used by major tire manufacturers and is heavily promoted by them as a superior alternative to natural rubber. In the construction industry, hydrogenated nitrile butadiene rubber is used in windows, pipes, flooring, sound insulation, and roofing.

In the past few years, the governments of rubber producing countries such as Vietnam, Sri Lanka, Thailand, Malaysia, Indonesia, and India have been providing economic assistance to farmers engaged in the cultivation of rubber. Furthermore, the government is supporting rubber manufacturing units with favorable policies including tax breaks, subsidies, custom duty waivers, etc. For e.g. – Excessive monsoonal rainfall in India almost five years ago reduced the rubber production of that year. The Indian govt. helped rubber manufacturing firms and growers various offers such as planting, trade fairs, buyer-seller meets, and exhibitions.

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