Asia Pacific to drive demand for NBR powder to reach $462 mn in 2020

The global nitrile butadiene rubber (NBR) powder market is expected to reach $ 461.8 million by 2020, driven mostly by countries in Asia Pacific region, according to a new study by Grand View Research Inc. The global NBR powder demand was estimated at 77.7 kilo tons in 2013 and is expected to reach 111.7 kilo tonnes, growing at a CAGR of 5.3% from 2014 to 2020.
 
Asia Pacific was a lucrative regional market with opportunities in automotive, construction and consumer goods industries. India and China are among the emerging economies of the world and hence are witnessing significant growth in the above mentioned industries. Automobile manufacturers are shifting bases from Europe to China owing to low cost skilled labour and improving infrastructure resulting in growing automobile industry thereby impacting the NBR powder market. The region accounted for over 40 percent of the total market and is expected to witness increased share over the next six years.
 
Increasing modified plastics use in automobile applications coupled with growing automotive industry is expected to be a key factor responsible for high NBR powder demand. Increasing NBR powder use in adhesives, sealants and gasket manufacturing primarily due to high wear & impact resistance coupled with superior mechanical & thermal properties is expected to further influence market growth in the next six years.
 
Adverse health effect of phthalates is resulting in reduced NBR powder use in PVC modification. Increasing use of TPO & TPE as active substitutes is expected to negatively impact the market over the forecast period. PVC modification was the most dominant application segment for the NBR powder market with estimated demand of over 35 kilo tonnes in 2013 and is expected to witness significant reduction in market share by 2020.
 
Cross-linked NBR powder is extensively used in high end automotive applications requiring high durability, mechanical strength and thermal properties. Growing application segment is expected to drive cross-linked powder demand over the forecast period. The segment is expected to witness fastest growth at a CAGR of 5.4 percent from 2014 to 2020.
 
Automotive application of NBR powder is expected to witness fastest growth on account of growing automotive industry in emerging markets including Mexico, China and India. Increasing automobile demand globally is expected to further promote market growth. The application segment had an estimated demand of over 20.0 kilo tons in 2013 and is expected to grow at a CAGR of 5.7 percent from 2014 to 2020.