Industrial Rubber Market by Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification) Outlook 2024

Industrial rubbers are polymer materials that are characterized by ability of reversible deformation under influence of external deformation forces. The deformation depends on the molecular weight and structure of deformed rubber and on external conditions of deformation. Three major categories of industrial rubbers used today are natural rubber, synthetic rubber and reclaimed rubber. The growth of industrial rubber products consumption has been driven by strong demand from user segments. Industrial rubber finds application in a range of end use industries such building & construction, automotive and aerospace among others.

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The global industrial rubber market is witnessing outstanding growth owing to increasing demand from the automotive industry. Rapidly growing automotive sector in emerging economies and augmented demand for high-performance tires and sealing products are expected to contribute to the growth of this market. Furthermore, the overall market is also being propelled by rising construction output and manufacturing activities worldwide. However, the global industrial rubber market is hampered by environmental regulations and health hazards associated with industrial Rubber products.

The global market is estimated and forecasted in terms of revenue (USD million) and volume (KT) generated by the industrial rubber market. The report analyses the global industrial rubber market based on type, product, end use industry and geography. Based on type, the market is segmented into natural rubber and synthetic rubber. The synthetic rubbers are further segmented into butyl rubber, chloroprene rubber, ethylene-propylene rubber, nitrile rubber, polybutadiene rubber, silicone rubber, styrene butadiene rubber and others. Among all types, the synthetic rubber accounted for the largest market share of the industrial rubber market in 2017. This growth is attributed to abundant availability of synthetic rubber products in the market, as these products are easily processed as compared to natural products.

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Based on product, the global industrial rubber market is divided into mechanical rubber goods, rubber belt, rubber hose, rubber roofing and others. The mechanical rubber good segment accounted for the largest product type of industrial rubber market in 2017. This segment has witnessed steady growth due to increasing global output of motor vehicles and industrial machinery equipment. In addition to this, based on various end use industries, this market is categorized into medical & healthcare, building & construction, automotive, aerospace, energy and others. The building & construction segment is anticipated to create substantial incremental opportunity during the estimate period, owing to the increasing use of industrial rubber in conveyor belts and other belting applications in building and construction machinery.

Axiom Market Research & Consulting™ (also known as Axiom MRC), is a full-service market research and data analytics firm, driven by a simple aim of providing key market intelligence to companies to assist them in taking informed business decisions pertaining to their marketing strategy, investments, new product launches, market competition, consumer or end users, social media trends etc.

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This release was published on openPR.