Press release
Industrial Rubber Market is Forecasted to Reach US$ 36.16 Billion in 2028, Says Stratview Research
Stratview Research, a global market research firm has launched a report on the global industrial rubber market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
Click here to get a free sample of the report:
https://stratviewresearch.com/Request-Sample/1143/industrial-rubber-market.html#form
Report Highlights:
Market Size in 2028: US$ 36.16 billion
Growth (CAGR): 5.12% during 2023-2028
Forecast Period: 2023-2028
Trend Period: 2017-2021
Base Year: 2022
Number of Segments Covered: 4
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20
Segment Insights on the Industrial Rubber Market:
The global industrial rubber market is segmented based on type, product type, application type, and region.
Based on type - The industrial rubber market is segmented into natural rubber and synthetic rubber. The synthetic rubber segment held the larger share of the market during the forecast period. Synthetic rubber is an abrasion-resistant replacement for natural rubber, widely used in automotive applications, which is driving the growth of this segment. Further, it is produced in latex form to be used as a rubbery adhesive in manufacturing carpets. The various other applications where synthetic rubber is used are roll coverings, drive couplings, conveyor belts, and adhesives.
Based on application type - The market is segmented as automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, coating, sealant & adhesive, medical & healthcare, and others. The automotive application dominates the market, as industrial rubbers are majorly used in this due to their better performance and easier processing ability. Further, industrial rubbers are used as a replacement for metal, glass, and wood parts used in automotive applications. They also possess various properties such as stiffness and abrasion resistance, which are propelling the growth of the segment.
To know the most attractive segments, click here:
https://stratviewresearch.com/1143/industrial-rubber-market.html
Which Region Shows the Most Promising Growth Forecast and Opportunity?
The analysis suggests that Asia-Pacific is estimated to be the fastest-growing industrial rubber market, with lucrative growth opportunities. This growth outlook is majorly attributed to the following-
• The growth of the market is driven by the increasing demand for vehicles, automotive components, and substantial infrastructural development, the growing building & construction sector, which is generating huge demand for industrial rubbers, and the presence of a large number of industrial rubber manufacturers in the Asia-Pacific region.
• North America and Europe are also expected to offer significant growth opportunities.
Industrial Rubber Market Drivers:
Some of the key drivers listed in the report are given below.
• The increasing usage of versatile materials in various applications, such as automotive, building & construction, medical & healthcare, coating, sealant & adhesives, and wire & cables.
• The use of rubber components like seals, hoses, gaskets, wiper blades, and vibration control devices has propelled the market demand for mechanical automotive rubber in many industries.
Top Companies in the Industrial Rubber Market:
Stratview Research has identified the following companies as the top market players.
• Lanxess AG
• Sinopec
• Kumho Petrochemical Co., Ltd
• TSRC Corporation
• The Goodyear Tire and Rubber Company
What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Industrial Rubber Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?
For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com
Related Reports:
• Liquid Silicone Rubber Market: https://stratviewresearch.com/792/liquid-silicone-rubber-market.html
• Butyl Rubber Market: https://stratviewresearch.com/3259/butyl-rubber-market.html
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About Us:
Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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