SAN JOSE, Calif. (April 8, 2011)—The global market for nitrile rubber is projected to exceed 645,000 tons by the year 2017, according to a new report.
Key factors driving the market include the increasing industrialization and development of infrastructure projects and automobile industry in the emerging economies of Asia-Pacific, Middle East and Latin America, according to the study by Global Industry Analysts.
The report, titled “Nitrile butadiene rubber (NBR) – A global strategic business report,” is 180 pages.
Publishers of the report said the industry faced severe after-effects of the global economic slowdown that began in late 2007 and assumed debilitating proportions in 2008 and 2009.
“A key reason for the collapse in NBR demand was attributable to the downslide in automobile production as a result of fall in automobile sales, primarily in high-income countries,” they said. “The severely hit construction sector also led to a significant drop in demand for NBR. In addition, the soaring prices for feedstock butadiene forced companies to cut down on NBR production. The effect of the increase in prices of the feedstock was also intensified by the weakening dollar.”