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Fast Curing Nitrile Butadiene Rubber Market Estimated to Experience a Hike in Growth by 2026
Fast Curing Nitrile Butadiene Rubber Market
Nitrile butadiene rubber (NBR), which is also commonly referred to as Buna-N, is usually produced from hydrocarbons. NBR is widely used in the petroleum and natural gas industry. It is a form of synthetic rubber that is a copolymer of butadiene and acrylonitrile. As the name suggests, the curing process is quick in case of fast curing NBR. Like NBR, fast curing NBR is widely used in the automobile and aeronautical industries to manufacture fuel/oil hoses and seals. Fast curing nitrile butadiene rubber also possesses the ability to withstand a wide range of temperatures from -40 °C to 107 °C, making it suitable to be used in aeronautical applications. Other applications of fast curing nitrile butadiene rubber include, but are not limited to, lab/medical examination gloves, O-rings, gaskets, V belts, rollers, molded goods, footwear, sealants, sponges, adhesives, and sealants.
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Fast Curing Nitrile Butadiene Rubber Market: Drivers
A key factor impacting the global fast curing nitrile butadiene rubber market positively is the expansion of the global automobiles market, mainly the global cars market. Automobiles is a major end-use industry of the fast curing nitrile butadiene rubber market. More than half of the fast curing nitrile butadiene rubber produced is used for the manufacture of O-rings, V belts, seals, fuel hoses, and other products used in the automobiles industry. fast curing nitrile butadiene rubber is manufactured from butadiene, which is produced from refining of crude oil using naphtha. Crude oil is a highly volatile commodity due to its ever changing supply-demand scenario. Therefore, any imbalance in the demand and supply of crude oil affects its pricing structure, which ultimately leads to volatility in its prices in the global market. Volatility in crude oil prices further affects prices of refining products such as propylene and butadiene.
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Fast Curing Nitrile Butadiene Rubber Market: Key Segments
Based on type, the fast curing nitrile butadiene rubber market can be divided into pipes and hoses; belts; wires and cables; seals, O-rings, and gaskets; adhesives and sealants; lab/medical examination gloves; molded goods; and sponges and foams. Among all segments, the pipes & hoses; belts; and wires & cables are anticipated to be substantial markets along with seals, O-rings, & gaskets. Based on end-user industry, the fast curing nitrile butadiene rubber market can be segmented into automotive, industrial machinery, oil & gas, mining & metals, building & construction, medical, and others. Automotive is a leading end-user segment of the fast curing nitrile butadiene rubber market. Another major end-user of fast curing nitrile butadiene rubber is medical. Followed by medical, industrial machinery is a prominent end-user of fast curing nitrile butadiene rubber as these machines require large quanta of belts, O-rings, seals, gaskets, and cables.
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In terms of geography, the global fast curing nitrile butadiene rubber market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is a lucrative region of the fast curing nitrile butadiene rubber market. It accounted for nearly half of the global market share in 2017. Asia Pacific is also likely to offer lucrative expansion opportunities for fast curing nitrile butadiene rubber during the forecast period. The large number of manufacturing facilities in the region, especially in China, India, and South East Asia, are offering significant expansion opportunities for fast curing nitrile butadiene rubber market. Asia Pacific is followed by Europe and North America in the global fast curing nitrile butadiene rubber market.
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Fast Curing Nitrile Butadiene Rubber Market: Key Players
Key players operating in the global fast curing nitrile butadiene rubber market include JSR Corporation, Lanxess, Zeon Chemicals, and Kumho Petrochemical Co., Ltd.
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