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2023 Industrial Rubber Global Market | Insights, Industry Outlook, Growing Trends And Top Key Players Include Lanxess, BridgeStone Corporation, Taiwan Synthetic Rubber Corp. (TSRC), JSR Corporation, ZEON Corporation
Industrial Rubber Market
Industrial Rubber Market Size, Growth Rate, And Forecast
The global industrial rubber market size is expected to grow from $39.31 billion in 2022 to $42.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.94%. 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 industrial rubber market size is expected to reach $53.30 billion in 2027 at a CAGR of 6.1%
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Industrial Rubber Market Drivers
The growth in the automotive industry is expected to propel the industrial rubber market going forward. The automotive industry comprises industries involved in manufacturing, wholesale, retailing, and repairing automobiles. The improving level of living and expanding economy have altered purchasing power. Furthermore, the economic impact of COVID-19 has resulted in a dramatic spike in demand for personal mobility worldwide. Moreover, climate change and the desire to attain net-zero emissions are drive the global shift to emission-free transportation. These adoptions have increased production of EVs and hybrid vehicles. Such a surge in automotive demand has led to increased production and demand for industrial rubber used in a wide range of vehicle interiors and exteriors.
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Industrial Rubber Market Segments
• By Rubber Type: Natural Industrial Rubber, Synthetic Industrial Rubber
• By Processing Type: Injection Melding, Compression Melding, Extrusion, Others Processing
• By Product: Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others Products
• By Application: Automotive, Building and Construction, Industrial Manufacturing, Polymer Modification, Wire and Cable, Electrical and Electronics, Bitumen Modification, Coating, Sealant, and Adhesive, Medical and Healthcare, Others Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Industrial Rubber market.
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Industrial Rubber Market Key Players
Major competitors in the Industrial Rubber market include Lanxess, BridgeStone Corporation, Taiwan Synthetic Rubber Corp. (TSRC), JSR Corporation, ZEON Corporation, LG Chem, Toyo Tire, Yokohama Rubber Company Ltd., Kumho Petrochemical, Copper Standard, Gates Corporation
The Business Research Company's "Global Industrial Rubber Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Industrial Rubber Market Include:
1. Executive Summary
2. Industrial Rubber Market Characteristics
3. Industrial Rubber Market Trends And Strategies
4. Industrial Rubber Market - Macro Economic Scenario
5. Industrial Rubber Market Size And Growth
………
28. Key Mergers And Acquisitions In The Industrial Rubber Market
29. Industrial Rubber Market Future Outlook and Potential Analysis
30. Appendix
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