Growing demand from automotive applications to drive NBR powder market growth over the forecast period
San Francisco, California (PRWEB) November 26, 2014
Global Nitrile Butadiene Rubber (NBR) powder market is expected to reach USD 461.8 million by 2020, according to a new study by Grand View Research, Inc. Increasing modified plastics use in automobile applications coupled with growing automotive industry is expected to be a key factor responsible for high NBR powder demand. Increasing NBR powder use in adhesives, sealants and gasket manufacturing primarily due to high wear & impact resistance coupled with superior mechanical & thermal properties is expected to further influence market growth in the next six years.
Browse full report with TOC at http://www.grandviewresearch.com/industry-analysis/nitrile-butadiene-rubber-nbr-powder-market
Adverse health effect of phthalates is resulting in reduced NBR powder use in PVC modification. Increasing use of TPO & TPE as active substitutes is expected to negatively impact the market over the forecast period. PVC modification was the most dominant application segment for the NBR powder market with estimated demand of over 35.0 kilo tons in 2013 and is expected to witness significant reduction in market share by 2020.
Further key findings from the study suggest:
- Global NBR powder demand was estimated at 77.7 kilo tons in 2013 and is expected to reach 111.7 kilo tons, growing at a CAGR of 5.3% from 2014 to 2020.
- Cross-linked NBR powder is extensively used in high end automotive applications requiring high durability, mechanical strength and thermal properties. Growing application segment is expected to drive cross-linked powder demand over the forecast period. The segment is expected to witness fastest growth at a CAGR of 5.4% from 2014 to 2020.
- Automotive application of NBR powder is expected to witness fastest growth on account of growing automotive industry in emerging markets including Mexico, China and India. Increasing automobile demand globally is expected to further promote market growth. The application segment had an estimated demand of over 20.0 kilo tons in 2013 and is expected to grow at a CAGR of 5.7% from 2014 to 2020.
- Asia Pacific was a lucrative regional market with opportunities in automotive, construction and consumer goods industries. India and China are among the emerging economies of the world and hence are witnessing significant growth in the above mentioned industries. Automobile manufacturers are shifting bases from Europe to China owing to low cost skilled labor and improving infrastructure resulting in growing automobile industry thereby impacting the NBR powder market. The region accounted for over 40% of the total market and is expected to witness increased share over the next six years.
- NBR market participants such as Nitriflex, Lanxess AG and LG Chem contribute to a major share resulting in an oligopolistic market. Companies are focusing on continuous product and application development which results in high degree of rivalry.
For the purpose of this study, Grand View Research has segmented the global NBR powder market on the basis of product, application and region:
NBR Powder Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
NBR Powder Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- PVC Modification
- Consumer Goods
NBR Powder Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
- North America
- Asia Pacific
More information on Global Nitrile Butadiene Rubber (NBR) Powder Market at http://www.grandviewresearch.com/industry-analysis/nitrile-butadiene-rubber-nbr-powder-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519
Web: Grand View Research