New York City, 06 February 2019: The Report Fast Curing Nitrile Butadiene Rubber Market is estimated to be worth USD 678 million by 2026.
Automotive segment was the dominant regional market, in terms of revenue
generation. Asia-Pacific is expected to be the leading contributor to the
global market revenue during the forecast period.
The growing
automotive industry, rapid industrialization, and modernization of vehicles
drive the growth of this market. The growth in global automotive industry and
increasing average life of vehicles has resulted in market growth. The
increasing use of the product for production of V belts, O-rings, fuel hoses,
seals, and other products in the automobiles industry boosts the market growth.
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Fast curing
nitrile butadiene rubber is also majorly used in aeronautical applications
owing to its ability to withstand a wide range of temperatures. This rubber is
also used in molded products, adhesives, gaskets, footwear, sealants, and
sponges among others. The increasing application in manufacturing of automotive
products, and growing demand for vehicles drive the growth of the market. Rapid
industrialization, rising automobile production, and modernization of
industrial machinery further boost the growth of the market.
Other
driving factors include rising applications in molded and extruded products, and
increasing demand from construction, mining, and medical applications. Rising
demand from the emerging nations, and technological advancements is anticipated
to provide numerous growth opportunities to the market players during the
forecast period.
The
increasing use of product for production of V belts, O-rings, fuel hoses,
seals, and other products in the automotive industry boosts the market growth.
Increasing requirement from emerging economies, technological advancements, and
growing adoption of green technology are the factors that are anticipated to
offer numerous opportunities over the forecast period.
Competitive Landscape and Key Vendors:
Asia-Pacific
generated was the largest regional market in 2017. The increasing demand for
automotive in the region coupled with rising disposable income drives the
market growth in the region. The rapid industrialization in China, Japan, and
India, along with increasing demand from construction, mining, and oil and gas
industries would support market growth during the forecast period. The modernization
of vehicles, and technological advancements would boost the market growth.
The
well-known companies profiled in the report include LG Chemicals, JSR
Corporation, Lanxess AG, Zeon Chemicals, Kumho Petrochemical Co., Ltd.,
Huangshan Hualan Technology, PetroChina Company Limited, and BASF SE among
others.
Read More: https://www.polarismarketresearch.com/industry-analysis/fast-curing-nitrile-butadiene-rubber-market
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