The Industrial Rubber Market is expected to reach USD 42.01 Billion by 2028, according to a new report by Reports and Data.
Industrial rubber market is driven principally by the automotive industry. Industrial rubber is primarily used for making tires. Construction activities led by developing economies across the world will generate demand. The volatility of the oil prices, concerned government regulations and environmental concerns, lack of suppliers, and the growing threat of alternative are factors hindering the growth of the industry.
Reports and Data's Global Industrial Rubber Market research report is an in-depth investigation that provides an industry-wide overview of existing and emerging growth patterns, end-user analysis, and other key data that has been tested and validated by industry experts and professionals. The report examines the market in terms of importance, share, size, demand and supply, patterns, competitive landscape, industrial chain analysis, and other important factors. The report also provides a detailed outlook for the industry's driving and restraining forces, as well as micro and macroeconomic factors that are expected to influence its development.
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Top Companies: Sinopec, Lanxess, The Goodyear Tire and Rubber Company, ExxonMobil, Kumho Petrochemical, TSRC Corporation, Nizhnekamskneftekhim,JSR Corporation, LG Chem, Versalis S.P.A., Zeon Corporation, PetroChina, Sibur, Group Dynasol, Kraton Corporation.
Further key findings from the report suggest:
- The Industrial Rubber Market is estimated to reach USD 42.01 Billion by 2028, at a CAGR of 4.30% during the forecast period.
- The synthetic rubber type accounts for a larger share of 63.8% in 2018.
- The Mechanical Rubber Good product type is anticipated to grow at the highest rate of 4.4% during the forecast period.
- The building and construction end user segment is anticipated to grow at the highest rate of 4.6% during the forecast period.
- Increasing construction activities in developing economies is also an essential factor enhancing the current demand. Several governments in the Asia Pacific are investing in both public and private enterprises to support infrastructure in countries like India and China.
- Numerous airports, highways, metros, other smart city projects are initiated in these economies. These projects are assumed to increase demand during the forecast period in the Asia Pacific region.
- Demand for fuel-efficiency, light-weight vehicles, and environment-friendly automotive parts also has been influencing the automotive industry in adopting eco-friendly industrial rubber.
- Asia Pacific region accounts for the largest share of 31.3% in 2018. The industry is anticipated to witness increasing demand from India, China, and other countries of the region. It is a leading region in terms of consumption and production of rubber.
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The global Industrial Rubber market is segmented into:
Product Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
- Mechanical Rubber Good
- Rubber Belt
- Rubber Hose
- Rubber Roofing
- Others
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
- Synthetic Rubber
- Natural Rubber
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
- Automotive
- Building Construction
- Industrial Manufacturing
- Electrical Electronics
- Others
Process Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2018-2028)
- Molding Casting
- Extrusion
- Calendaring
- Roller Die
- Coating
Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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