Press release
Industrial Rubber Products Market Size, Share | Industry Trends Analysis Report, 2024
According to the research report, the global market for industrial rubber products will be proliferating at a CAGR of 5.80% over the period of 2016-2024 with the opportunity in this market increasing from a value of US$47.7 bn in 2015 to US$79.5 bn by the end of the forecast period. Mechanical rubber goods have surfaced as the most valued product in this market. Analysts expect this trend to remain same over the forthcoming years due to the increasing usage of these goods in automobiles across the world.
This 215 page report gives readers a comprehensive overview of the Industrial Rubber Products market. Browse Market Research Report @
http://www.transparencymarketresearch.com/industrial-rubber-products.html
Demand for Industrial Rubber Products to Remain Stronger in Automotive Sector
In this report, the construction, automotive, and the aerospace industries have been considered as the prime end users of industrial rubber products, among which, the most prominent demand for these products is being registered by the automotive sector. The widespread application of these products in the interiors, under the hood, and the overall structure of automobiles is expected to maintain the position of the automotive industry as the key end user of industrial rubber products over the next few years.
The report further presents a geographical assessment of the worldwide industrial rubber products. According to it, North America, the Middle East and Africa, Latin America, Europe, and Asia Pacific are the main regional markets for industrial rubber products across the world. Amongst all, Asia Pacific acquired the leading position in 2015 with a share of 40% in the overall market. Researchers predict this regional market to remain on top throughout the forecast period, thanks to the presence of a massive pool of large-sized rubber production facilities in a number of Asian economies, such as India, China, Thailand, Malaysia, and Indonesia.
Urbanization and Industrialization Playing Crucial Role in Increasing Demand for Industrial Rubber Products
“The rapid urbanization, strengthening economy, and the ongoing efforts towards industrialization have influenced the global market for industrial rubber products significantly,” says a TMR analyst. With the rising construction activities to cater the requirements created by urbanization and industrialization across the world, the demand for industrial rubber products is likely to increase substantially in the near future.
The steady growth in production of motorcycles and bicycles, fueled by the rising trend of owning a vehicle among consumers is also projected to boost the worldwide market for industrial rubber products over the next few years. However, the volatile nature of the raw material prices and the increasing import penetration and decreasing demand from transportation equipment manufacturing are likely to affect the market severely during the forecast period, states the research report.
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The study presented here is based on a report by Transparency Market Research (TMR), titled “Industrial Rubber Products Market (Rubber Type - Natural Rubber, Styrene Butadiene Rubber, Polybutadiene, Ethylene-propylene, and Nitrile Butadiene Rubber; Product - Mechanical Rubber Goods, Rubber Hose, Rubber Belts, and Rubber Roofing; Technology - Tire Manufacturing, Tube Manufacturing, Molded Product Manufacturing, Extruded/Calendared Product Manufacturing, Fabricated Product Manufacturing, and Latex Based Product Manufacturing; End User - Construction, Automotive, and Aerospace) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The report segments the global industrial rubber products market as:
By Rubber Type
Natural Rubber
Styrene Butadiene Rubber
Polybutadiene
Ethylene-propylene
Nitrile Butadiene Rubber
Others
By Product
Mechanical rubber goods
Rubber hose
Rubber belts
Rubber roofing
Others
By Technology
Tire Manufacturing
Tube Manufacturing
Molded Product Manufacturing
Extruded/Calendared Product Manufacturing
Fabricated Product Manufacturing
Latex Based Product Manufacturing
Others
By End User
Construction
Automotive
Aerospace
Others
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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