Global Market Insights, Inc. has recently added a report on Nitrile Butadiene Rubber Powder Market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.
Europe, directed by Germany will hold close to 20% industry share by the end of the forecast period on account of presence of prominent industries in the country. The region will grow at a sluggish rate owing to strict regulations of European Union in the region such as constraint of phthalates, a low-molecular weight ester for the production of various items such as toys.
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According to a new research report Nitrile Butadiene Rubber Powder market will surpass USD 600 million by 2024. Flourishing automotive industry in countries such as China and India coupled with vast presence of automobiles in Japan and South Korea will drive the nitrile rubber powder market in the Asia Pacific region.
In 2008, vehicle sales in China accounted for over 9.3 million and increased rapidly to surpass 29.1 million in the next 9 years. Similarly, Indian automotive industry doubled in the past nine years reaching close to 4 million new vehicle sales in 2017. These developing countries play an integral part in the regional economy by increasing shares in the GDP. Prospering automotive industry in the developing countries of Asia Pacific region will drive the regional Nitrile Butadiene Rubber Powder market.
Phthalates interfere with the hormonal system in certain quantities. There esters are molecularly low-weight and have excellent durability and flexibility. Phthalates are low-cost composites used in NBR compounds for their varied performances. Health concerns in humans such as reproductive problems and availability of health friendly substitutes will hinder the phthalates demand for the NBR production. These factors will hamper the nitrile rubber powder demand in long-run.
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Nitrile Butadiene Rubber Powder market constituted for grinding process for production which could produce particles with low viscosities than the spray drying process. The spray drying technique also gives particles well below 1.00 mm size. The 0.30 mm to 0.70 mm is said to hold a maximum share and will surpass USD 350 million by 2024.
The cross linked grade finds major applications in PVC modifications for softening effect along with uses in the automotive industry which results in increased market share. The U.S. cross linked segment will surge to USD 30 million in the next seven years owing to huge presence of automotive industry in the country. Considering volume, the segment is said to capture 50% share of nitrile rubber powder market.
Massive applications of the product as a friction material, adhesive, water resistant, modifier, etc. will fuel the NBR powder market demand in the long-run. The abrasion resistant compounds segment is said to touch USD 40 million by 2024, whereas the PVC modification segment will surpass 45% share in the Nitrile Butadiene Rubber Powder market.
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Consumer goods demand is ever increasing in the developing as well as developed countries. The U.S. packed consumer goods industry accounted for approximately USD 760 billion, USD 635 billion and USD 400 billion in 2016, 2015 and 2014 respectively. The ever-increasing demand for consumer goods in the U.S. will drive the market in this region. The U.S. consumer goods segment will cross USD 45 million by 2024 owing to high demand in this region.
Companies present in the Nitrile Butadiene Rubber Powder market are Taprath Polymers, Omnova Solutions, Nitriflex, LG Chem, Lanxess, Swaraj Rubber Industries, and Zeon Chemicals to mention some.
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