HYDROGENATED NITRILE BUTADIENE RUBBER (HNBR) MARKET :OIL & GAS SEGMENT TO OFFER LUCRATIVE OPPORTUNITIES

1. HYDROGENATED NITRILE BUTADIENE RUBBER (HNBR) MARKET :OIL & GAS SEGMENT TO OFFER LUCRATIVE OPPORTUNITIES Key Highlights oThe global hydrogenated nitrile butadiene rubber (HNBR) market was valued at US$ 31.5 Mn in 2018, and is projected to expand at a CAGR of ~ 8% during the forecast period. oThe global hydrogenated nitrile butadiene rubber (HNBR) market is driven by the rise in the demand for hydrogenated nitrile butadiene rubber in automotive applications such as fuel system seals, hoses, engine seals, grommets, gaskets, transmission system bonded piston seals, A/C seals, and hoses. oAsia Pacific accounts for a substantial share of the global HNBR market, led by the increase in the demand for hydrogenated nitrile butadiene rubber in oil & gas and automotive applications. Key Drivers of the Hydrogenated Nitrile Butadiene Rubber (HNBR) Market oHydrogenated nitrile butadiene rubber is characterized by its physical strength and retention properties, even after long-term exposure to oil, heat, and chemicals. This is expected to boost the demand for HNBR in various oil & gas, construction, machinery, and automotive applications. oHydrogenated nitrile butadiene rubber is widely used in the construction and civil engineering sectors, in applications such as mounting structures, bridge bearings, expansion joints, pipe couplings, water barriers, roofing membranes, rubberized asphalt, and concrete texturing. oUnique properties exhibited by hydrogenated nitrile butadiene rubber have boosted its demand in industrial, automotive, and performance-demanding applications. In terms of volume, the automotive industry is a major consumer of hydrogenated nitrile butadiene rubber, which is used in a host of dynamic and static seals, belts, and hoses. Request Brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id =24782

2. Oil & Gas Segment to Offer Lucrative Opportunities oThe oil & gas segment is anticipated to expand at a rapid pace in the Hydrogenated Nitrile Butadiene Rubber (HNBR) Market during the forecast period. Growing industrialization and rise in the demand for power in Asia Pacific and Africa; shift in the demand from coal to natural gas, especially in China; and growth in the availability of low-cost fossil fuel supplies from North America, Australia, and the Middle East are anticipated to drive the oil & gas industry in the near future. oHydrogenated nitrile butadiene rubber is a popular elastomer that is used in oilfield applications for sealing, down-hole packers, gaskets, etc., due to its soft, near- elastic, and incompressible nature. oThe high elasticity characteristic of hydrogenated nitrile butadiene rubber makes it an ideal choice for sealing applications. HNBR is used to manufacture seals for shafts, flanges, pump pistons, rods, etc. Risk of Substitution Coupled with Higher Production Cost to Hamper Market oPolyurethane-based thermoset elastomers offers flexibility, high strength, and high elasticity, and are available at lower prices as compared to hydrogenated nitrile butadiene rubber. oThe oil-resistance characteristic makes NBR an ideal material for roll covers, gaskets, hydraulic hoses, oil field packers, conveyor belting, and seals for various plumbing and appliance applications. Asia Pacific Prominent Hydrogenated Nitrile Butadiene Rubber (HNBR) Market oIn terms of region, Asia Pacific accounted for a major share of the global hydrogenated nitrile butadiene rubber (HNBR) market in 2018. The demand for hydrogenated nitrile butadiene rubber is high in automotive and construction applications in the region, especially in China, Japan, and South Korea. oAsia Pacific is expected to remain a highly attractive region of the global hydrogenated nitrile butadiene rubber (HNBR) market during the forecast period. International HNBR players have shifted their production facilities to countries in Asia Pacific, owing to the easy availability of raw materials, abundance of skilled labor, and low manufacturing costs. oChina accounted for a dominant share of the hydrogenated nitrile butadiene rubber market in Asia Pacific in 2018. This trend is expected to continue in the Asia Pacific Hydrogenated Nitrile Butadiene Rubber (HNBR) Market during the forecast period, owing to presence of a large number of foreign and domestic rubber manufacturing companies in the country. Top Two Players Accounted for ~ 80% Market Share in 2018

3. The global hydrogenated nitrile butadiene rubber (HNBR) market is dominated by two major players — Zeon Chemical L.P. and ARLANXEO. These companies held ~ 80% share in 2018. The hydrogenated nitrile butadiene rubber market is dominated by Zeon Chemical L.P., which is the largest manufacturer of hydrogenated nitrile butadiene rubber and other synthetic rubbers across the globe. The company has the largest distribution network and operates across all major regions. Zeon Chemicals L.P. aims to steadily invest in R&D. It aims to focus on long-term research and on areas that can be commercialized in the short term. oIn August 2018, Zeon Chemicals L.P. announced plans to establish a new subsidiary in Thailand for the manufacture and sale of acrylic rubber. The new subsidiary is expected to cater to the steadily rising demand for acrylic rubber in Asia, led by the growth in the production of internal combustion and turbo-charged engine powered automobiles.