Four major trends fostering Nitrile Butadiene Rubber Powder Market growth through 2020-2026
Selbyville, Delaware, United States, September 7 2020 (Wiredrelease) Global Market Insights, Inc –:The nitrile butadiene rubber powder market is forecast to witness significant growth over the coming time period owing to the product’s increasing application across various end-use industries such as automotive, construction, and footwear among others. The powder is an oil resistant synthetic rubber which is essentially used to apply on the surface of metals for decreasing friction. The powder also provides components a longer shelf-life and smooth functioning, which is driving their demand across varied industries.
As per a research report by Global Market Insights, Inc., nitrile butadiene rubber powder market is estimated to surpass a $698.4 million valuation by 2026.
The product is also extensively used in roofing & flooring, mortar, glazing gaskets and other construction related applications. Ongoing development in the construction and automotive industry will boost the product consumption over the forecast time period.
Below are some of the key trends that are likely to influence nitrile butadiene rubber powder market growth:
Rising demand for adhesives across various end-use industries
In terms of application, the adhesives application segment will observe considerable amount of growth, registering an anticipated CAGR of 7% over the forthcoming time period. The high degree of branching in nitrile butadiene rubber powder improves the entanglements amongst various kinds of polymer chains, which further provides heat resistance as well as bonding properties to the adhesives. Moreover, the increasing demand for adhesives from automotive assembly, and footwear, among others will propel the growth of the segment over the coming years.
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Increasing demand from the footwear industry
The footwear end-user segment will hold substantial share in NBR powder market over the forthcoming timeframe. NBR powder enhances numerous properties of footwear materials like permanent plasticizer, impact resistance, foaming stability, elasticity, abrasion resistance and several mechanical properties. The increasing young consumer demographic coupled with the rising athleisure trend will propel the NBR powder demand in the footwear industry.
Growing use of pre-cross linked NBR powder
Based on grade, pre-cross-linked grade segment will account for considerable share of the market by the end of the projected time period. The product has high toughness and are good solvent, cold, heat, and oil resistance and is majorly utilized in seals, conveyor belts, oil pipes, and wire insulations, among others. In addition, pre-cross linked NBR grades are also majorly used in soft PVC compounds for calendaring and extrusion processes. These grades are considered specialty products for a host of technical PVC articles like shoe soles, profiles and hoses, films, floorings, coated fabrics, cable sheathings, and crash pads blending with PVC. The growing demand for pre-cross linked NBR grade will further augment the market share.
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Rising product demand across North America
North America nitrile butadiene rubber powder market will surpass a valuation of $75 million by the end of the analysis timeframe. Presence of leading automotive manufacturers like Volkswagen Group and Honda Motor Company, and the growing demand for luxury as well as commercial vehicles will flourish the growth of regional automotive industry. The improving standard of living and the consequent rise in construction activities will further boost industry expansion in the region.
The competitive landscape of nitrile butadiene rubber powder market includes Sinopec, Zeon Chemicals, Saudi Aramco (ARLANXEO), LG Chem, and SIBUR among many others.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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