Press release
Industrial Rubber Market to grow at a moderate CAGR of 5% by 2030 | Fact.MR Report
๐๐ผ๐๐ป๐น๐ผ๐ฎ๐ฑ ๐๐ฅ๐๐ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐๐ผ๐ฝ๐ ๐ผ๐ณ ๐ง๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/connectus/sample?flag=S&rep_id=1710
In the past half-a-decade, the industrial rubber market exhibited a moderate expansion rate of 4%, on the back of mounting demand across key end use industries as tubes & tires, wires & cables, hoses, conveyor belts and gaskets & seals among others. Manufacturers are emphasizing on the production of synthetic rubber, attributed to its superior heat and abrasion resistance, enhanced tolerance to ozone and sunlight exposure and high malleability.
As the global automotive industry expands, the scope for industrial rubbers is set for further expansion. According to the International Energy Agency (IEA), global automotive sales reached 41 million units by H2 2020, with future sales expected to further proliferate, with a major tilt towards electric vehicle becoming evident. This is broadening the scope for allied industries such as tires, spare parts and other accessories.
"The global industrial rubber market is highly influenced by the fluctuating nature of the automotive industry, which is frequently rocked by price volatility. Therefore, manufacturers are constantly remodeling their business operations to accommodate the same," says a Fact.MR analyst"
๐๐ฒ๐ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ฎ๐ฐ๐.๐ ๐ฅ'๐ ๐๐ป๐ฑ๐๐๐๐ฟ๐ถ๐ฎ๐น ๐ฅ๐๐ฏ๐ฏ๐ฒ๐ฟ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฆ๐๐๐ฑ๐
โข Tires & tubes manufacturing to emerge as the primary industrial rubber application area
โข By processing method, injection molding to garner credible momentum through 2031
โข Automotive & transportation to register major uptake amongst all end-use industries
โข US to capture an impressive revenue share amid extensive application in manufacturing tires, footwear and industrial goods
โข UK to witness steady expansion, anticipated to register a strong CAGR in forthcoming years
โข Germany and France to emerge strong, attributed to prolific advancements in automotive and industrial goods manufacturing
โข China to emerge as a global industrial rubber production hub; Japan to exhibit promising prospects
๐๐ฒ๐ ๐๐๐๐๐ผ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ผ๐ป ๐๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1710
๐๐ป๐ฑ๐๐๐๐ฟ๐ถ๐ฎ๐น ๐ฅ๐๐ฏ๐ฏ๐ฒ๐ฟ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐- ๐ฃ๐ฟ๐ผ๐บ๐ถ๐ป๐ฒ๐ป๐ ๐๐ฟ๐ถ๐๐ฒ๐ฟ๐
โข Growing applications as polymer mortars to enhance waterproofing and bonding in the construction industry to boost industrial rubber sales
โข Increasing automobile ownership across developing countries to widen applications in the automotive sector
โข Manufacturers are tapping into the Indian, Brazilian, Malaysian and Thai markets as they are amongst the world's leading rubber producers
๐๐ป๐ฑ๐๐๐๐ฟ๐ถ๐ฎ๐น ๐ฅ๐๐ฏ๐ฏ๐ฒ๐ฟ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐- ๐๐ฒ๐ ๐ฅ๐ฒ๐๐๐ฟ๐ฎ๐ถ๐ป๐๐
โข Increasing environmental concerns voiced by governments is restricting production of synthetic industrial rubber
โข Adoption of tubeless tires in automobiles due to perceived benefits is expected to hinder applications in tire manufacturing
๐๐ฒ๐ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฆ๐ฒ๐ด๐บ๐ฒ๐ป๐๐ ๐๐ผ๐๐ฒ๐ฟ๐ฒ๐ฑ ๐ถ๐ป ๐๐ต๐ฒ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐
Product
โข Natural Rubber
โข Synthetic rubber
โข Polybutadiene Rubber
โข Butyl Rubber
โข Nitrile Rubber
โข Chloroprene Rubber
โข Ethylene-propylene Rubber
โข Silicone Rubber
โข Others
Processing Method
โข Injection Molding
โข Compression Molding
โข Extrusion
โข Others
Application
โข Tires & Tubes
โข Hoses, Gaskets & Seals
โข Conveyor Belts
โข Wires & Cables
โข Others
End-use Industry
โข Automotive & Transportation
โข Building & Construction
โข Industrial Machinery & Equipment
โข Others
Region
โข North America
โข Latin America
โข Europe
โข East Asia
โข South Asia & Oceania
โข Middle East & Africa
๐๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐๐ฒ ๐๐ฎ๐ป๐ฑ๐๐ฐ๐ฎ๐ฝ๐ฒ
JSR Corporation, Sumitomo Chemical Co. Ltd., ExxonMobil, Ube Industries Ltd., LANXESS, Asahi Kasei Corporation and Zeon Corporation are some prominent industrial rubber manufacturers profiled by Fact.MR. Besides these, numerous small-scale and medium-scale players operate in the landscape, rendering the market highly fragmented.
In March 2019, JSR Corporation developed a new styrene-butadiene copolymer rubber (SBR) material for automotive tires. This new material exhibits significantly improved mechanical strength, wear resistance and durability. The design has also proven useful in reducing CO2 emissions by improving fuel efficiency.
In June 2018, ExxonMobil unveiled a new manufacturing facility in Singapore to initiate production of hydrogenated hydrocarbon resin and halobutyl rubber with a capacity of 90,000 tons and 140,000 tons respectively on an annual basis.
๐๐ฒ๐ ๐๐๐๐๐ผ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ผ๐ป ๐๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1710
More Insights on the Industrial Rubber Market
Fact.MR, in its new offering, presents an unbiased analysis of the global industrial rubber market. The study divulges essential insights on the market on the basis of product (natural rubber and synthetic rubber), processing method (injection molding, compression molding, extrusion, and others) application (tires & tubes, hoses, gaskets & seals, conveyor belts, wires & cables, and others), and end-use industry (automotive & transportation, building & construction, industrial machinery & equipment, and others)
๐๐ต๐ฒ๐ฐ๐ธ ๐ผ๐๐ ๐บ๐ผ๐ฟ๐ฒ ๐ฟ๐ฒ๐น๐ฎ๐๐ฒ๐ฑ ๐๐๐๐ฑ๐ถ๐ฒ๐ ๐ฝ๐๐ฏ๐น๐ถ๐๐ต๐ฒ๐ฑ ๐ฏ๐ ๐๐ฎ๐ฐ๐.๐ ๐ฅ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต: https://www.globenewswire.com/en/news-release/2022/09/26/2522615/0/en/Third-Generation-Advanced-High-Strength-Steel-Opening-Plethora-of-Opportunities-for-Manufacturers-Says-Fact-MR.html
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About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range - from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories.
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