Carboxylated Nitrile Rubber Market Segmentation:
Type Segment Analysis
The medical-grade segment is estimated to hold 60% share of the global carboxylated nitrile rubber market in the year 2035. The COVID-19 pandemic has amplified the demand for PPE, including medical gloves, masks, and protective clothing. Medical-grade XNBR is utilized in the production of these critical protective materials, with its resistance to chemicals and pathogens making it a valuable choice in the fight against infectious diseases. The global PPE sales were valued at USD 52.7 billion in the year 2019.
End User Segment Analysis
Carboxylated nitrile rubber market from the automotive segment is expected to garner a significant share in the year 2035. One of the primary drivers for the automotive segment of XNBR is the sustained growth in global automotive production. As more vehicles are manufactured, the demand for high-quality rubber components, such as gaskets, seals, and hoses, increases. XNBR's exceptional oil resistance and durability make it a preferred choice for these critical automotive applications. Global automotive production reached approximately 75 million vehicles in 2020, with projections of continued growth in the coming years. The growth of the automotive segment of XNBR is driven by factors such as increasing automotive production, a focus on fuel efficiency and emissions reduction, the rise of electric vehicles, engine downsizing, durability requirements, and NVH reduction efforts.
Our in-depth analysis of the global carboxylated nitrile rubber market includes the following segments:
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