Nitrile butadiene rubber (NBR) powder market revenue to hit USD 600 million by 2024, four regional trends to look out for
Date: 2018-05-23   Author: Saipriya Iyer  Category: #market

Nitrile butadiene rubber (NBR) powder market revenue to hit USD 600 million by 2024, four regional trends to look out for

Nitrile butadiene rubber powder market size is reportedly anticipated to register a CAGR of 6.5% over 2017-2024, with the robust expansion of the automotive sector being the principal driver. OICA’s estimates claim that global new vehicle sales recorded a valuation of around 96 million units in 2017, among which China, Japan, and the U.S. accounted for 29 million, 5 million, and more than 17.5 million respectively.

Outlining four geographical trends prevalent in NBR powder industry:

  • Linear grade NBR powder is used in seals, gaskets, and hoses, making it a perfect product for automakers. China linear grade NBR powder market size will exceed USD 17 million by 2024, driven by the region’s expanding automotive sector. China NBR powder market share from the construction sector is forecast to register a CAGR of 7% over 2017-2024.
  • Aided by the upsurge of the construction & automotive sectors, APAC NBR powder industry is projected to emerge as the fastest-growing regional business. In 2016, APAC construction sector was valued at 4 trillion. Powered by the growing number of infrastructural development projects in India & China, APAC NBR powder market will grow at the highest CAGR over 2017-2024.
  • In 2016, Germany and UK accounted for 35% of global NBR powder industry share. Europe NBR powder market will witness a slower growth rate due to stringent regulations & economic downturn.
  • Reportedly, North America NBR powder market size, with U.S. as the chief contributor, will exceed USD 60 million by 2024 subject to the growth of the regional automotive sector.

As per Global Market Insights, Inc., nitrile butadiene rubber powder industry is quite oligopolistic, pertaining to the prevalence of very few prominent companies such as Lanxess, Omnova Solutions, Zeon Chemicals, and LG Chem. These companies are reportedly focusing on increasing the number of production sites and R&D facilities across major geographies.

About Author

Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

More from Saipriya

Post Recommendents

Metal Waste and Recycling Market to Witness Growth Acceleration During 2018-2023
Author: Partha Ray

Metal Waste and Recycling Market size 2018-2023 report, launched by Market Study Report, unveils the current & future growth trends of this business sphere in addition to outlining details regarding the myriad geographies that form a part of the ...

Construction Equipment Market 2018 In-Depth Analysis of Industry Share, Size, Growth Outlook up to 2023
Author: Partha Ray

Construction Equipment market research report collated by Market Study Report is an in-depth study of the current trends influencing this industry. The report also provides a detailed abstract of the market valuation, statistics, and revenue fore...

Composite Cylinders Market, Share, Application Analysis, Regional Outlook, Competitive Strategies & Forecast up to 2023
Author: Partha Ray

Market Study Report has recently compiled a report on Composite Cylinders Market Share 2018-2023 which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the m...