The reports also help in understanding the NBR Market dynamic, and structure by analyzing the market segments and projecting the NBR Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the NBR Market makes the report investor’s guide.
NBR Market Overview:
The "NBR Market" study gives a complete picture of the competition, including the market share and company profiles of the key competitors in the industry. The scope of the research includes a thorough investigation of the NBR Market, as well as the reasons for variations in the industry's growth in various locations.
The NBR Market was valued at US$ 1,732.8 Mn in 2021 and is expected to grow at US$ 2,817.4 Mn in 2029. Global NBR Market size is expected to grow at a CAGR of 7.19 % through the forecast period.
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Market Scope:
The rise in dietary trend of consuming milk outside the home is propelling Post completion of market engineering, which included calculations for market statistics, market size estimations, market forecasts, market breakdown, and data triangulation, thorough primary research was done to acquire information and verify and validate important numbers. To perform market estimating and forecasting for the overall market segments and sub-segments described in this research, both top-down and bottom-up methodologies, as well as multiple data triangulation methods, were widely employed throughout the whole market engineering process. Extensive qualitative and quantitative analysis is also performed on all of the figures obtained during the whole market engineering process in order to provide essential information throughout the report.
Segmentation:
Based on End-User, the Automotive Transportation segment held the largest market share in 2021 as it maintains performance in different weather and surface conditions while meeting the stringent safety norms of various countries. The growing demand for tires offering a smoother and quieter ride with better fuel efficiency has compelled manufacturers to use NBR. Nitrile Butadiene Rubber (NBR) is primarily considered the workhorse of the automotive industry. It is commonly used for fuel and oil handling hose, seals and grommets, and water handling applications. Furthermore, the NBRs hot oil resistance makes it a common material which is used for the automotive industrial applications, mostly useful for gaskets, oil seals, O-rings, engine hoses, and other parts. Furthermore, mining equipment manufacturers have traditionally been strong users of NBR -based elastomers to make seals and other parts that are used in pumps and valves driving its demand.
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Key Players:
Major players in the market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top manufacturers; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, CEOs, and marketing executives. The percentage splits, market shares, growth rate, and breakdowns of the markets are determined by using secondary sources and verified through primary sources. The biggest players in the NBR market are as follows:
• LANXESS
• Sinopec
• Kumho Petrochemical
• TSRC Corporation
• JSR Corporation
• LG Chem
• Versalis S.p.A
• ZEON Corporation
• SIBUR Holding
• OMNOVA Solutions Inc.
• Atlantic Gasket Corporation,
• Apcotex Industries Limited
• AirBoss of America Corp.
• BASF SE,
• Hanna Rubber Company
• Versalis
• PetroChina
• Huangshan Hualan Technology Co. ltd
• Dow
• ARLANXEO
• CNPC
• Ningbo Shunze
• Nantex
• Nanjing Xinfeima Chemical
• Jiangyin Zhengbang Chemicals
• Petrobras Argentina
Regional Analysis:
Individual market-influencing elements and changes in market laws that influence present and future market trends are also included in the geographical overview of the NBR market study. Current and future trends are examined in order to assess the entire market potential and uncover profitable trends in order to get a more stable footing. The geographical market assessment is based on the present environment and expected developments.
COVID-19 Impact Analysis on NBR Market:
Due to a break in operations, end-user sectors where NBR is used had a decline in growth from January to May in various countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India. This resulted in a large drop in the revenues of firms operating in these industries and, as a consequence, in demand for NBR manufacturers, affecting the development of the NBR market in 2020. End-user business demand for NBR has dropped considerably as a result of lockdowns and a rise in COVID-19 incidents throughout the world.
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Key Questions Answered in the NBR Market Report are:
Which segment had the largest share in the NBR market in 2021?
What is the competitive landscape of the NBR market?
Which are the key drivers aiding the NBR market growth?
Which region has the maximum share in the NBR market?
What will be the CAGR of the NBR market during the forecast period (2022-2027)?
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