The Industrial Rubber Market is expected to reach USD 38.31 Billion by 2026, according to a new report by Reports and Data.
Industrial rubber market is driven principally by the automotive industry. Industrial rubber is primarily used for making tires. Construction activities led by developing economies across the world will generate demand. The volatility of the oil prices, concerned government regulations and environmental concerns, lack of suppliers, and the growing threat of alternative are factors hindering the growth of the industry.
Some of the market players studied in this report are:
Sinopec, Lanxess, The Goodyear Tire and Rubber Company, ExxonMobil, Kumho Petrochemical, TSRC Corporation, Nizhnekamskneftekhim,JSR Corporation, LG Chem, Versalis S.P.A., Zeon Corporation, PetroChina, Sibur, Group Dynasol, Kraton Corporation.
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For the purpose of this study, Reports and Data have segmented the market on the basis of Product Type, Type, End Users, Process, and region:
Product Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Mechanical Rubber Good
- Rubber Belt
- Rubber Hose
- Rubber Roofing
- Others
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Synthetic Rubber
- Natural Rubber
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Automotive
- Building & Construction
- Industrial Manufacturing
- Electrical & Electronics
- Others
Further key findings from the report suggest:
- The Industrial Rubber Market is estimated to reach USD 38.31 Billion by 2026, at a CAGR of 4.3% during the forecast period.
- The synthetic rubber type accounts for a larger share of 63.8% in 2018.
- The Mechanical Rubber Good product type is anticipated to grow at the highest rate of 4.4% during the forecast period.
- The building and construction end user segment is anticipated to grow at the highest rate of 4.6% during the forecast period.
- Increasing construction activities in developing economies is also an essential factor enhancing the current demand. Several governments in the Asia Pacific are investing in both public and private enterprises to support infrastructure in countries like India and China.
- Numerous airports, highways, metros, other smart city projects are initiated in these economies. These projects are assumed to increase demand during the forecast period in the Asia Pacific region…Continue
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