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Industrial Rubber Market by Driving Innovations, Key Findings, Market Conditions, Leading Players (Sinopec Corporation, Lg Chem Ltd., The Goodyear Tire & Rubber Company) and Forecast by 2029 | Professional Research Report with Precise Growth Rate
Based on previous market performance, the Industrial Rubber market is expected to reach USD 46.33 billion in size by 2029. With a 4.6% CAGR.Industrial Rubber Market Overview:
There are two types of industrial rubber: natural and synthetic. Natural rubber is made up of polymers of organic compounds such as isoprene, which can be found in latex, rubber trees, and other plants. Synthetic rubber, on the other hand, is an elastomer made from the polymerization of unsaturated hydrocarbons derived from petroleum wastes used in the petrochemical sector. One primary product dominates the use of industrial rubber: tyres. Because of increased rubber consumption in the tyre manufacturing business, the worldwide industrial rubber market is predicted to rise significantly.
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In the last decade, the automobile industry has grown rapidly in nations such as China, the United States, Japan, India, Germany, and the United Kingdom. Sales of electric vehicles are projected to rise. Furthermore, lower pricing for electric car equipment like batteries, transmissions, and alternators are boosting sales of electric vehicles. Because of the expansion of the automobile industry, demand for industrial rubber is likely to rise.
Based on our expert's analysis the players that are leading the market includes: Sinopec Corporation, Lg Chem Ltd., The Goodyear Tire & Rubber Company, Toyo Tire & Rubber Co., Ltd., Bridgestone Corporation, Lotte Chemical Corporation, Arkema S.A., Braskem S.A., Celanese Corporation, United Rubber Industries India Private Limited and Others.
The whole market is segmented as follows:
Industrial Rubber Market by Type, 2022-2029, (USD Billion), (Kilotons)
Synthetic Rubber
Natural Rubber
Industrial Rubber Market by Application, 2022-2029, (USD Billion), (Kilotons)
Automotive
Building & Construction
Industrial Manufacturing
Polymer Modification
Others
Industry Developments:
ARLANXEO introduced Levapren PXL, a novel ethylene-vinyl acetate rubber, in July 2018. The new EVM products have a high viscosity and are easy to process, which is important when making high-quality hoses, cable sheathings, and floor coverings.
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Industrial Rubber Market' s top organizations are operating in a dynamic set-up, wherein they are required to incorporate unprecedented advances to reap benefits from the latest and upcoming information technologies and industry trends.
Regional Analysis:
This report is segmented into several key Regions, with production, consumption, revenue and market share and growth rate of Industrial Rubber Market. These regions, from 2022 To 2029, covering North America, Europe, China, Japan, Southeast Asia, India, North America (USA, Canada and Mexico) Europe (Germany, France, UK, Russia and Italy) Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and ROW.
Our Market Intelligence reports give our clients the information they need to maintain a competitive edge in the marketplace. Competitor Analysis and Profiling studies delve further into a company's competitive strengths and shortcomings. Market assessments conducted by SIS reveal market opportunities, size, and viability.
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