iCrowdNewswire Jan 7, 2021 3:58 PM ET
The global nitrile butadiene rubber market is being driven by a range of application in the various end-use industries such as building and construction, automotive, aerospace, and marine among others. Moreover, it is estimated that the oil and gas industry is set to witness the highest growth due to the growing consumption in applications such as sealing, moulding components, and tubing among others during the forecast period, 2017-2023.
The oil & gas segment followed by the building and construction end-user segment are anticipated to observe a higher CAGR during the forecast period. Nitrile butadiene rubber is used in ceramic tiles, roofing and wall, hoses, adhesives, and sealants, owing to its temperature stability, higher bond strength, and chemical resistance, which contributes significantly to the growth of the building and construction segment.
Get a Sample Page Now@ https://www.marketresearchfuture.com/sample_request/5342
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
The global nitrile butadiene rubber market is segmented into product type, and end-user. On the basis of the product type, the market is segregated into hoses, belts, cables, molded seals & o-rings, gloves and others. The market by end user industry is further categorized into automotive, oil & gas, mining, construction, medical and others.
The nitrile butadiene rubber market is segmented into five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region with an encouraging CAGR. Growing population and the increasing per capita disposable income in the developing nations are primarily driving the growth of the nitrile butadiene rubber market. Moreover, the burgeoning construction and the automobile industry in countries such as India and China, is increasing the demand for nitrile butadiene rubber which, in turn, is propelling the market growth. According to the Indian Brand Equity Foundation, the Indian infrastructure witnessed 33 deals in 2016-2017 involving USD 3.49 billion with an increase of 0.5 billion from the previous year.
The European region is a lucrative market and is mainly driven by a well-developed automobile and aerospace industry. Moreover, the growing stringent EU regulations regarding the industrial hazards has fuelled the use of nitrile butadiene market in the production of protective gloves. In addition to this the growing use in the construction industry are other factors adding to the market growth.
Browse Full Report Here @ https://www.marketresearchfuture.com/reports/nitrite-butadiene-rubber-market-5342
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Market Research Future
Keywords: global nitrile butadiene rubber market, global nitrile butadiene rubber market Size, global nitrile butadiene rubber market Research, global nitrile butadiene rubber market Analysis, global nitrile butadiene rubber market Industry Analysis, global nitrile butadiene rubber market Research Report, global nitrile butadiene rubber market Consulting Services, global nitrile butadiene rubber market Forecast, global nitrile butadiene rubber market Overview, global nitrile butadiene rubber market share