Global NBR powder market expected to reach $425.7m by 2019
ERJ staff report (TP)
New York – The global NBR powder market is anticipated to reach $425.7 million (€313.2m) by 2019, growing at a CAGR of 6.5% from 2013 to 2019, according to Transparency Market Research.
In its new report "Nitrile Butadiene Rubber (NBR) Powder (Linear and Cross-linked) Market for PVC Modification, Automotives, Buildings, Footwear, Consumer Goods and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", the market is predicted to expand from its former value of $275.6 million in 2012.
The rising demand for auto components such as dashboards, kick panels, brake pads and brake lining from end-use industries, especially automobile, is the major driving factor for the NBR powder market.
Growth in the two-wheeler market in emerging economies is likely to open up opportunities in the next few years. However, demand for NBR powder may decline in the PVC modification sector owing to the availability of potential substitutes such as thermoplastic elastomers and thermoplastic olefins.
Asia Pacific leads the global NBR powder market with more than 44% of demand in 2012. The region is expected to be the fastest growing due to the rising number of end-users such as auto part manufacturers, brake lining manufacturers, footwear manufacturers and others.
Europe and Rest of the World followed with a combined share of more than 40% of the global demand in 2012. North America accounts for the smallest share of the market. The region is experiencing sluggish growth due to a shift from NBR powder to other substitutes, specifically for PVC modification applications.
The NBR powder market is moderately concentrated, with the top five players accounting for almost 38% of the global market. The NBR powder market comprises the organised as well as unorganised sector. The organised sector consists of “established players” such as Omnova Solutions, Lanxess AG, LG Chem and Zeon Chemicals.
Transparency Market Research is a market intelligence company, providing global business information reports and services