Specialty Nitriles Market

SKU: DM3074 | Last Updated On: Oct 04 2022 | Available Formats

> Global Specialty Nitriles Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Specialty Nitriles Market is segmented By Type (Hydrogenated Nitrile Butadiene Rubber, Nitrile Butadiene Rubber, Others), By Manufacturing Process (Ammoxidation, Hydrocyanation), By Application (Protective Gloves, Automotive Components, Electronic Component. Oil Field Applications, Adhesive & Sealants, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

[150 Pages Report] The Global Specialty Nitriles Market is expected to grow at a high CAGR during the forecasting period (2022-2029).

Specialty Nitriles Market - Strategic Insights

Metrics

Details

Market CAGR

4%

Segments Covered

By Type, By Manufacturing Process, By Application and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Speciality nitrile is also known as cyanides, and the most usually used nitrile is nitrile rubber, which is conjugated butadiene and a synthetic copolymer of unsaturated acrylonitrile with high resistance to chemicals. Moreover, it is mostly used in protective gloves used in chemical laboratories against chemicals. It is widely applied in pipelines, hoses, tubes, conveyor belts, shoes, seals, and glues; owing to the versatile and favourable chemical properties of speciality nitriles, its application in adhesives, pharmaceuticals and automotive is growing linearly, boosting the market growth. Moreover, nitrile is an organic compound with a triple bond between carbon & nitrogen. Due to its sturdiness property, it is extensively used in protective gloves used in chemistry laboratories to resist the chemicals' effect, and stringent regulations regarding industrial protective gears have propelled the demand for gloves, consequently driving the market growth.

Market Dynamics

The increasing demand for automotive and a rise in vehicle sales are the main factors driving the speciality nitriles market. Moreover, increased demand from various end-use sectors contributes significantly to the market's growth. Furthermore, fast industrialization coupled with infrastructure growth globally is likely to boost the market. In addition, the increased use of speciality nitriles in industrial and medical applications is expected to contribute to market growth. However, variations in the pricing of raw materials connected to environmental concerns are forecasted to limit the market growth. The speciality nitriles market growth is anticipated to grow at a significant CAGR during the forecast period.

Nitrile-containing compounds widely used in therapeutic drugs like speciality nitrile can alter the physicochemical and pharmacokinetic properties to improve bioavailability, enhance the selectivity and binding affinity to target proteins hydrogen bond interactions. Hence with the increasing consumption of therapeutic drugs, speciality nitrile demand has increased in the pharmaceutical industry. Moreover, beneficial attributes of speciality nitriles like good resistance to oil, heat, ozone, chemicals give it a secure position in the automobile, adhesives and electronics industry.

Segmentation Analysis

By manufacturing process, the market is segmented into ammoxidation and hydrocyanation. By type, the market is segmented into nitrile butadiene rubber, hydrogenated nitrile butadiene rubber, others. By application, the market is segmented into protective gloves, automotive components, electronic components, adhesives & sealants, oilfield applications, others.

Ammoxidation is an industrial method to build nitriles using oxygen and ammonia. In contrast, hydrocyanation is the method in which hydrogen and cyanide ions are added to a molecular substrate, and the electronic structure of nitriles is the same as an alkyne, excluding lone electrons with nitrogen, thus making it a polar molecule. This method is expected to boost the speciality nitriles market in the forecast period.

Geographical Analysis

Asia-Pacific region holds the largest share and is the fastest-growing market for speciality nitriles due to increasing utilization in pharmaceutical, adhesives, and automotive segments, which is expected to boost the market growth. China is the highest consumer of nitrile butadiene rubber (NBR)due to the increasing demand for protective gloves with high production and usage of protective gloves in healthcare, food & beverage, construction, and transportation industries. Simultaneously, North America and Japan are high consumers of hydrogenated nitrile butadiene rubber (HBNR). Due to the economic recession, the need for speciality nitriles in North America and Western Europe is recorded to slow down.

Competitive Landscape

The speciality nitriles market is fragmented with the presence of global and regional players. The competitive outline lies with the increased regional company and growing investment in upstream application. Carolina Glove Company, Ascend Performance Materials, INEOS Group, AlzChem Group AG, Parchem fine & speciality chemicals, Zeon Chemicals L.P., EMERALD Performance Materials, LLC, Asahi Kasei Corporation are the major player in the nitriles market. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to growing the speciality nitriles market globally.

Carolina Glove Company

Carolina glove company has manufactured latex gloves as an alternative for hand protection option growing in popularity and medical and industrial demands. Moreover, latex gloves are traditionally used by many people have who are suffering from allergies to latex and suffer from skin irritations when they use these gloves for extended periods. In addition, latex is made from natural rubber, while nitrile gloves are produced from a synthetic rubber called nitrile rubber. Synthetic nitrile rubber has various properties like they are price competitive with latex or vinyl gloves; nitrile gloves provide a comfortable fit even for extended periods; the gloves offer an excellent tactile sense; nitrile rubber provides good chemical resistance, more so than latex; nitrile film is thin and allows for good heat dissipation that reduces sweating and skin irritation; nitrile gloves will take up less volume for the equivalent quantity, saving on storage and transportation costs.

Why Purchase the Report?

  • Visualize the composition of the Specialty Nitriles Market Segmentation by Type, Manufacturing Process, Application, and region, highlighting the key commercial assets and players.
  • Identify commercial opportunities in the Specialty Nitriles Market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of Specialty Nitriles Market-level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players.

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers

FAQ

What is the Specialty Nitriles Market growth?

The market is growing at a CAGR of 4%.

What is Specialty Nitriles Market size in 2021

The Specialty Nitriles Market size was valued at USD YY million in 2021.

Who are the key players in Specialty Nitriles Market?

Ascend Performance Materials, INEOS Group, AlzChem Group AG, Parchem fine & speciality chemicals.

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