Global Specialty Nitriles Market - 2020-2027
Specialty 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 favorable chemical properties of specialty 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 among 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.
The global specialty nitriles market is estimated to reach USD XX billion by 2027 from the recorded market size of worth USD XX billion in 2018, growing at a CAGR of XX% during the forecast period.
The increasing demand for automotive and a rise in vehicle sales are the main factors driving the specialty nitriles market. Moreover, increased demand from various end use sectors contribute 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 specialty 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 specialty nitriles market growth is anticipated to grow at a significant CAGR during the forecast period.
Nitrile-containing compounds widely used in therapeutic drugs like specialty 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, specialty nitrile demand has increased in the pharmaceutical industry. Moreover, beneficial attributes of specialty nitriles like good resistance to oil, heat, ozone, chemicals give it a secure position in the automobile, adhesives and electronics industry.
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 specialty nitriles market in the forecast period.
Asia-Pacific region holds the largest share and is the fastest-growing market for specialty 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 specialty nitriles in North America and Western Europe is recorded to slowed down.
The specialty 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 & specialty 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 specialty 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.