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Industrial Rubber Market will Expand at an Excellent 6.1% CAGR by 2026
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Cushioning rough surfaces and controlling incidence of abrasion-based damages makes adoption of rubber solutions quite practical for industries. By the end of 2026, nearly 55 million metric tons of industrial rubber will be consumed across the globe. In the report, titled “Industrial Rubber Market: Global Industry Analysis and Forecast, 2016-2026,” Persistence Market Research has attributed the market’s growth to factors such as rising global construction output, soaring sales of industrial rubber through digital marketing, technological advancements improving large-scale production of industrial rubber, and effective application of industrial rubber in automotive as well as emerging industrial verticals.
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Although, global consumption of industrial rubber will remain at the mercy of fluctuating raw rubber prices and stringent environmental regulations regarding production, use & disposal of rubber products. The report also highlights the downtrend in global demand for natural rubber products. In 2017 and beyond, industrial use of natural rubber is projected to slow down, procuring just over 37% of global market value. With respect to synthetic industrial rubbers, the global consumption of styrene butadiene rubber will be growing at 7% CAGR during the forecast period. Besides, the market is also likely to exhibit higher growth in demand for polybutadiene rubber, ethylene-propylene rubber and silicone rubber.
Leading manufacturers of industrial rubber include: Lanxess AG, Dow Chemical Co., E.I. duPont de Nemours & Company, Asahi Kasei Corporation, JSR Corporation, Exxon Mobil Corporation, Sumitomo Chemical Co. Ltd., Denka Company Limited, Ube Industries Ltd., and Zeon Corporation
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Prominent manufacturers of industrial rubber products include: Bridgestone Corporation, Bando Chemical Industries, Ltd., Goodyear Tire & Rubber Corporation, Eaton Corporation, Trelleborg AB, Continental AG, Parker-Hannifin Corporation, Nichirin Co. Ltd., Yokohama Rubber Company Ltd., and Carlisle Companies Inc.
The report reveals that a considerable portion of industrial rubber produced in the world will be processed through injection molding method. In 2016, more than US$ 37,189.5 Mn revenues were accounted by global sales of injection-molded industrial rubber. Higher adoption of injection molding will also lower the market presence of compression molding process. Meanwhile, industrial rubber obtained through extrusion process is likely to impose a consistent share on global market value – 34.2% – through 2026.
Automotive industry will indisputably be the largest end-user of industrial rubber in the world. Over 40% of global industrial rubber production is accounted by automotive & transportation businesses. Correspondingly, rampant production of automobiles makes the Asia-Pacific excluding Japan (APEJ) region the world’s largest industrial rubber market. With over one-third share of global revenues, industrial rubber sold across the APEJ region is expected to bring in US$ 55,939.3 Mn in revenues by 2026-end. Meanwhile, industrial rubber revenues in the Middle East & Africa region will record a rampant growth by exhibiting a healthy CAGR of 6.6%.
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