Press release
Industrial Rubber Market Analysis (2018-2027) & Key Industries Cooper Standard Inc., Bridgestone Corporation, Freudenberg Group, Continental AG, HEXPOL AB, Gates Corporation, The Goodyear Tire & Rubber Company, Sumitomo Riko Company Limited
The global industrial rubber market can be segmented on the basis of type, product, application and region. On the basis of type, it is sub-segmented into synthetic rubber and natural rubber. Synthetic rubber is anticipated to be the leading sub-segment for the type segment. The various property of the synthetic rubber is increasing its application in the automotive industries .This drives the growth of the sub-segment during the forecast period. On the basis of product, it is sub-segmented into rubber hose, mechanical rubber good, rubber belt, rubber roofing and others. On the basis of application, it is sub-segmented into industrial manufacturing, automotive, wire & cable, building & construction, coating, medical & healthcare and sealant & adhesive.
Automotive is anticipated to be major sub-segment during the forecast period. The numerous properties of the rubber such as stiffness and abrasion resistance leads to the replacement of the traditional materials such as metal, glass, and wood parts. This is anticipated to boost the growth of the sub-segment during the forecast period.
The global industrial rubber market is anticipated to grow at a CAGR around 4.8% during 2018-2027. It is expected to reach the market size of USD 45 billion by the 2027. The rising application of the industrial rubber in various end-use industries is expected to support the growth of the global industrial rubber market during the forecast period.
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By region, global industrial rubber market is segmented into North America, Asia-Pacific, Latin America, Europe, Middle East and Africa. North America is expected to lead the global industrial rubber market during the forecast period. The increasing application of the Industrial Rubber in the various end-use industries is anticipated to be the major reason for the growth of the global industrial rubber market in the region. Asia-Pacific region is anticipated to be the fastest developing region for the global industrial rubber market.
The rising industrialization in the region leads to the expansion of the various applications industries such as automotive, building & construction .This is anticipated to boost the growth of the global industrial rubber market in the region during the forecast period.
Rising demand from various application industries is anticipated to boost the growth of the global industrial rubber market
The industrial rubber is used in various application industries such as automotive, building & construction, industrial manufacturing which is anticipated to be the major reason supporting the growth of the overall industrial rubber market. Thus, the expansion in the sales of the passenger cars is anticipated to increase the application of the rubber. This in turn boosts the growth of the global industrial rubber market during the forecast period.
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The report titled “Industrial Rubber Market: Global Demand Analysis & Opportunity Outlook 2027” delivers the detailed overview of the in terms of market segmentation by type, by product, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model. This report also provides the existing competitive scenario of some of the key players of the Global Industrial Rubber Market which includes company profiling of key companies such as Cooper Standard Inc., Bridgestone Corporation, Freudenberg Group, Continental AG, HEXPOL AB, Gates Corporation, The Goodyear Tire & Rubber Company, Sumitomo Riko Company Limited, NOK CORPORATION, Yokohama Rubber Co., Ltd. Eaton, Myers Industries, Inc.. The outlining enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global industrial rubber market that is expected to help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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