Transparency Market Research has published a new report, titled “Hydrogenated Nitrile Butadiene Rubber Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.”According to the report the various applications of hydrogenated nitrile butadiene rubber such as their use in synchronous timing belts, automotive seals, hoses, and various other components which are used for oilfield explorations and other processes in manufacturing are expected to be the key factors behind the growth of the global hydrogenated nitrile butadiene rubber market.
By end-user, this market is segmented into automotive, construction, machinery, plastic, and medical. The automotive sector among these, is expected to lead for the rest of the forecast period. The medical, plastic, construction, and machinery segments are also anticipated to witness a healthy growth. On the basis of application, the hydrogenated nitrile butadiene rubber market is segmented into adhesives and ceilings, belts and cables, hoses, industrial and medical gloves, and seals and O-rings. Among these, the hoses and belts and cables segments are holding key shares at present and this is anticipated to continue for the rest of the forecast period on account of the rising demand from manufacturing and automotive sectors in Asia Pacific.
Rapid growth is also expected of the industrial and medical gloves segment in the years to come. This is on account of the high resistance of these gloves to alkaline compounds and industrial chemicals. Some of the other factors driving the growth of the medical and industrial gloves segment is the implementation of various regulations regarding safety of workers by governments across nations and also due to the growth of the medical sector.
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By geography, Asia Pacific has been leading in the market on account of the presence of several pharmaceutical companies is expected to be behind the growth of the Asia Pacific hydrogenated nitrile butadiene rubber market. Europe and North America are also contributing significantly to the growth of this market.