Hydrogenated Nitrile Butadiene Rubber Market to Reach a Valuation of US$ 63 Mn by 2027
Shifts in the preference from nitrile butadiene rubber (NBR) to hydrogenated nitrile butadiene rubber (HNBR) has led to HNBR becoming one of the fast growing raw materials in the production of rubber articles. The perpetual rise in consumer preference for high-quality rubber calls for a change in the production process of rubber. Due to its physical strength and splendid retention properties, hydrogenated nitrile butadiene rubber finds center stage in numerous automotive, construction, oil and gas, and machinery applications. The automotive industry alone accounted for 47% share in the hydrogenated nitrile butadiene rubber market in 2018.
Considering the popularity of hydrogenated nitrile butadiene rubber in numerous industrial applications, and its contribution to the growth of the synthetic rubber industry, manufacturers are vying towards increasing their production capacities for HNBR. Sensing the high demand for hydrogenated nitrile butadiene rubber in the end-use sector and the volatility in the prices of natural rubber leading to a shift towards synthetic rubber, TMR has conducted extensive research on the hydrogenated nitrile butadiene rubber market. In its new study, TMR lays bare the key trends in the hydrogenated nitrile butadiene rubber market, and explains how the change in opportunities has impacted the key strategies of stakeholders in the HNBR market space.
- Evolutionary Landscape of the HNBR Market
The synthetic rubber market is a key example of how volatility promotes growth. The synthetic rubber market came into the picture when the economic slowdown and low prices started hampering the natural rubber industry. It has now become an important commodity catering to the rising demand due to industrialization. Among the numerous synthetic rubbers in the market, hydrogenated nitrile butadiene rubber finds extensive application across a number of industries. The global hydrogenated nitrile butadiene rubber is projected to be valued at ~ US $ 60 Mn by the end of 2027, states TMR.
The information Presented in this Review is Based on Press-Release by TMR
HNBR got its very own eminence because of the rising global competition in the automotive industry. New trends in engine designs called for the need to incorporate high-performance material in developing timing belts. To address this need, automotive manufacturers started moving away from polychloroprene to replace it with HNBR as the key raw material for timing belts.