Press release
Rubber Products Market Consumption, Supply, Demand, Segments, and Forecast 2023-2032 | The Michelin Group, Bridgestone Corporation, Continental AG, Good Year Tire & Rubber Company, Sumitomo Rubber Group
Rubber Products Market
As per the Rubber Products market report by The Business Research Company, Technological advancement is expected to be a continued driver of market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period. For example, technologies such as "Green Tires", where 20-30% of a vehicle''s fuel consumption is related to tire performance, took off during this period. Green Tires offer wet grip, durability and low rolling resistance, reducing fuel consumption by 5-7%. Thus, technological advancement which enabled improved performance, reduced fuel consumption contributed to the market growth.
The global rubber products market grew from $374.37 billion in 2022 to $400.07 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The rubber products market is expected to grow to $503.79 billion in 2027 at a CAGR of 5.9%.
Read More On The Rubber Products Market Report Here:
https://www.thebusinessresearchcompany.com/report/rubber-products-global-market-report
Major competitors in the Rubber Products market include The Michelin Group, Bridgestone Corporation, Continental AG, Good Year Tire & Rubber Company, Sumitomo Rubber Group, The Hankook Tire group, Pirelli & C SpA, Yokohama Rubber Company Ltd., Toyo Tire & Rubber Co Ltd and Toyota Tsusho.
The Rubber Products market is segmented -
1) By Type: Tire, Hoses And Belting, Other Rubber Product
2) By Process: Molded, Extruded, Fabricated, Latex-based, Other Processes
3) By End-User Industry: Construction & Infrastructure, Automotive, Electrical & Electronics, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Rubber Products market.
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Rubber products refers to a collective term for all the goods made from a flexible material that can be vulcanized and polished into a variety of items and is made from the latex sap of trees, particularly those in the genera Hevea and Ficus. Rubber products are used to produce tires and retreading, rubber hoses and belting, rubber sealants, and all other rubber products which have domestic and industrial applications.
The Table Of Content For The Rubber Products Market Include:
1. Executive Summary
2. Report Structure
3. Rubber Products Market Characteristics
4. Rubber Products Market Product Analysis
5. Rubber Products Market Supply Chain
.....
21. Rubber Products Market Competitive Landscape
22. Key Mergers And Acquisitions In The Rubber Products Market
23. Market Background: Plastics And Rubber Products Manufacturing Market
24. Recommendations
25. Appendix
26. Copyright And Disclaimer
The "Global Rubber Products Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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