The global NBR Market report published by Reports and Data offers a comprehensive overview of the market dynamics and recent events in the industry to help the user/reader to understand the market scenario. The report provides an assessment of emerging and current market trends, drivers, constraints, limitations, and opportunities that are may occur during the forecast period. The report sheds light on the market dynamics along with details about market size, market share, and revenue growth along with the production and manufacturing of various products. The data is collected through extensive primary and secondary research and is evaluated by professionals and experts in the industry. The statistical data is well-presented in form of diagrams, charts, tables, and other pictorial presentations for better user readability.
Rising demand for disposable gloves in medical, automotive finishing, chemical, and oil and gas industries has been a prime factor driving the market in recent years. Moreover, the deployment of nitrile gloves in the food processing industry is probable to complement growth in market demand. Growing awareness pertaining to employee wellbeing and safety, coupled with an increasing concern related to skin diseases in the industrial sector, is anticipated to propel the market over the forecasted period. Technological advancement, backed by the availability of customized designs to meet the requirements of specific industries, is estimated to have a positive influence on market demand.
Market Dynamics:
The materials and chemicals industry is rapidly gaining traction over the forecast period and is expected to expand significantly in the coming years. Technological advancements and rising innovation are key factors boosting global market growth. The global NBR markets are projected to register robust revenue CAGR during the forecast period between 2021 and 2028. Increasing awareness about green energy and eco-friendly biodegradable products, environmental impact due to carbon emissions are a few key factors supporting market growth. High demand for various chemicals and raw materials in various industrial sectors such as food and technology, pharmaceutical and biotechnology, manufacturing, paint and coating, paper, plastic among others. In addition, increasing research and development activities, growing demand for products like perfumes, soaps, and detergents for daily usage along with rising disposable income across the globe are further boosting the market growth.
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NBR Industry Overview
The global materials chemicals industry revenue growth can be majorly attributed to increasing demand for essential consumer goods including soaps, detergents, and beauty personal care products worldwide, rising preference for sustainable and eco-friendly raw materials, and growing use of advanced chemicals and raw materials in industries including agriculture, food beverage industries, buildings construction, automotive, packaging, and manufacturing industries. Other major factors driving the growth of this industry are rising pollution levels, increasing environmental awareness, increasing use of technologically advanced chemicals and materials, and rising demand for organic materials
Regional Outlook:
North America is expected to dominate the global materials and chemicals market landscape during the forecast period owing to the strong presence of prominent industry players in this region.
APAC is projected to be the fastest-growing NBR market globally. The increasing manufacturing and export over the past years have led several global leading companies to not only make huge investments in the region’s chemical sector but also set up their own manufacturing sites to increase their presence in this emerging market.
Leading Market Competitors:
Lanxess, Kumho Petrochemical, Sinopec, TSRC Corporation, JSR Corporation, LG Chem, Versalis SPA, Zeon Corporation, Omnova Solutions Inc., and Sibur Holdings, among others.
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Application Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Hoses
Belts
Cables
Molded Extruded Products
Seals O-rings
Rubber Compound
Adhesives Sealants
Gloves
Foamed Products
Others
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Online
Offline
Industry Vertical Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Automotive Transportation
Mechanical Engineering
Oil Gas
Metallurgy Mining
Construction
Medical
Others
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