Market Trends of Fast Curing Nitrile Butadiene Rubber (NBR) Industry
This section covers the major market trends shaping the Fast Curing Nitrile Butadiene Rubber Market according to our research experts:
Significant Demand from Automotive Manufacturing Segment
- NBR is employed in tires and non-tire applications in the automotive industry. Tires are expected to sustain different weather and surface conditions while meeting the stringent safety norms laid by various countries. The rising demand for tires offering a smoother and quieter ride with better fuel efficiency has compelled manufacturers to use fast curing NBR.
- The tires made from NBR are widely used in military vehicles and heavy-duty vehicles. It is also used in coated tire cord fabrics providing fundamental properties such as controlled deformation, high strength, high affinity, and abrasion resistance.
- Fast curing NBR is also deployed in molded rubber parts including seals (or rubber-to-metal composites), interior membranes, vibration dampers and hoses of passenger and commercial vehicles.
- Fast cured seals are expected to find applications in hydraulic engines where oil resistance is one of the major concerns among buyers in automotive, construction and manufacturing sectors.
- The product is used on account of providing exceptional properties including excellent cost/performance ratio, high compression modulus and good sealing force retention. Therefore, significant rise in automobile production globally is expected to be a key driving force.
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Asia Pacific Region to Dominate the Market
- Asia-Pacific is anticipated to witness the highest CAGR during the period on account of rapid urbanization and construction activities from countries like China, South Korea, Japan, and India.
- The construction industry in India has been growing rapidly with an increased investment in the sector by the government. The Indian government's 'Housing for All by 2022' is a key initiative for the industry. A cumulative total of USD 24.67 billion foreign direct investment has been made for the construction activities (including townships, built-up infrastructure, and construction- development projects) in the country, for the period April 2000 to December 2017.
- Disposable gloves are anticipated to foresee volume growth during the period owing to outbreak of COVID-19. The use of disposable gloves which are used on a single patient is quite popular owing to low risk of contamination. These products are based on polymers including latex, rubber, nitrile rubber, neoprene and vinyl which are capable of protecting patients and physicians from cross-contamination during medical examinations.
- The Chinese automotive manufacturing industry is the largest in the world. The 'Made in China 2025' initiative is anticipated to support the upgrade of the existing low-cost mass production to higher value-added advanced manufacturing which in turn will boost market growth for fast curing NBR.
- Due to the aforementioned factors, the demand for fast curing nitrile butadiene rubber market is expected to increase in the region during the forecast period.
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