Los Angeles, CA -- (SBWIRE) -- 10/08/2021 -- A new market study was recently undertaken by QY Research on the topic of Hydrogenated Nitrile Butadiene Rubber industry (HNBR). The published report is based on the market study, which is titled, "Global Hydrogenated Nitrile Butadiene Rubber (HNBR) Market Research Report 2019," comprises of market drivers, trends, opportunities, competitive landscape, and other important insights on the market. As per this report, the Worldwide Hydrogenated Nitrile Butadiene Rubber industry (HNBR) is expected to value US$ 686.7 Mn by the end of 2025 from an initial value of US$ 365.2 Mn in 2018, exhibiting a healthy CAGR of 10.2% for a projected period of 6 years i.e. from 2019 to 2025.
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Hydrogenated Nitrile Butadiene Rubber Industry – Growth Drivers
? Hydrogenated Nitrile Butadiene Rubber has largescale applications in the automobile sector for manufacturing transmission belts and O-rings
? HNBR seals have a high demand in energy and oil and gas industries due to its chemical resistance and capacity to withstand high temperature
? HNBR non-latex gloves are extensively used by medical health professionals during medical surgeries
Surging Demand for Nitrile Rubber for Sealing Purposes to Propel Growth of the Oil and Gas Segment
The end-user segment of the Hydrogenated Nitrile Butadiene Rubber industry is divided into Oil and Gas, Cable & Hoses, Gasket & Seals, and Others. HNBR has excellent resistance to oil and petroleum products and is used for sealing applications, which require resistance to water and heat thereby, contributing to the growth of the Oil and Gas segment. The type segment of the Hydrogenated Nitrile Butadiene Rubber industry is segmented into High ACN, Medium ACN, and Low ACN.
Government Support for Rubber Manufacturing to Boost the Growth of the Asia-Pacific Market
Government support for manufacturing rubber in the Asia-Pacific region is likely to have a positive impact on the growth of the market. Government initiatives such as exhibitions, trade fairs, buyer-seller meet, and favorable policies including tax breaks, custom duty waivers and economic assistance to farmers for cultivation of rubber are likely to benefit the market.
Capacity Expansion Emerging as a Key Strategy of the Market Players
The authors of the report have offered detailed profile of major companies such as LANXESS, Zeon, Dawn Polymer, and Zannan Scitech. Market players are focusing on launching new products, expanding production facilities, and strengthening the distribution network.
For instance, in 2019, Dawn Polymer, a leading company manufacturing plastics and rubber materials announced a successful trial run of HNBR project. The project has an annual capacity of 3,000 ton and it is jointly developed with Beijing University of Chemical Technology.
In another instance, in 2019, LANXESS showcased new master-batches for manufacturing reinforced rubber parts, which are used in manufacturing HNBR products.
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