Carboxylated nitrile rubber market forecast at $20 billion by 2036
Iranpolymer/Baspar Pune, India – Analysis of carboxylated nitrile rubber market size by Research Nester reveals the market to grow with a CAGR of ~8% during 2024-2036 and attain $20 billion by 2036 according to Research Nester.
The industrial machinery sector is another key contributor to the growth of the carboxylated nitrile rubber market. Conveyor belts, rollers, and other machinery components often require rubber materials that can withstand abrasion, heat, and wear. Carboxylated nitrile rubber’s exceptional properties in these areas make it a preferred choice for manufacturers looking to optimize their industrial processes.
Some of the major growth factors and challenges that are associated with the growth of the global carboxylated nitrile rubber market are:
Growth Drivers: Increasing Sustainable Solutions and Growing Chemical Processing Industry.
As environmental sustainability becomes increasingly important, the carboxylated nitrile rubber sector may face pressure to reduce its carbon footprint and develop greener alternatives. Failure to address sustainability concerns can lead to reputational damage and loss of business opportunities with environmentally conscious customers.
The medical-grade segment is to garner a highest revenue by the end of 2036 by growing at a significant CAGR over the forecast period. Infection control is a critical concern in healthcare settings. Medical-grade XNBR’s resistance to chemicals, oils, and sterilization methods is highly valuable in applications such as sealing and gasketing in medical equipment and devices. This contributes to reducing the risk of contamination and infection, further driving its adoption. The global infection control industry is expected to reach USD 30.9 billion.
By region, the Europe carboxylated nitrile rubber market is to generate a notable revenue by the end of 2036. The European automotive industry is a major driver of XNBR demand. XNBR’s exceptional oil resistance and durability make it a preferred choice for automotive applications such as gaskets, seals, and hoses. The shift towards electric vehicles (EVs) in Europe has further increased the demand for XNBR, as it is used in EV components and battery systems. Europe has some of the strictest environmental regulations globally, including regulations related to emissions and material safety. XNBR is favored for its compliance with environmental standards and its ability to meet stringent performance requirements in industries like automotive and construction.
This report also provides the existing competitive scenario of some of the key players of the global carboxylated nitrile rubber market which includes company profiling of Zeon Corporation, Kumho Petrochemical Co., Ltd., Lanxess AG, Synthos S.A., Nantex Industry Co., Ltd., LG Chem Ltd., and others.
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