Market Research Future (MRFR) report on the Global Industrial Rubber Market is an exclusive research report that offers a detailed analysis of the market. The report covers the COVID-19 Analysis of the Global Industrial Rubber Market and offers a comprehensive summary of market segments, current trends, growth projections, and market challenges from 2018 to 2023 (forecast period) to identify potential business opportunities.
Rubber is a hydrocarbon polymer that occurs as milky latex in the sap of various plants and can also be produced synthetically. Physical properties of rubber include abrasion resistance, tear resistance, compression set, elongation, tensile modulus and strength, hardness, and others.
Some of the Major Manufacturers Operating in the Global Industrial Rubber Market are LANXESS (Germany), Bridgestone Corporation (Japan), LG Chem (South Korea), Sinopec (China), The Goodyear Tire & Rubber Company (U.S.), KUMHO PETROCHEMICAL (South Korea), TSRC (Taiwan), JSR Corporation (Japan), Versalis S.p.A. (Italy), PJSC “Nizhnekamskneftekhim” (Russia), and ZEON CORPORATION (Japan).
The growing demand for rubber from the automotive industry is fueling the growth of Industrial Rubber Market. The majority of industrial rubber is used by the tire manufacturing industry, which is used in automobiles, trucks, tractors, buses, military vehicles, and others. In addition, rapid urbanization in the Asia Pacific is expected to boost demand for Industrial Rubber in the building and construction industry. Besides the applications for tires, the penetration of rubber in non-tire rubber products is expected to increase significantly during the forecast period, especially in the automotive industry.
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The Global Market for Industrial Rubber has been segmented on the basis of the Type, Product, Product Processing, End-Use Industry, and Region.
Based on Type, the Global Market for Industrial Rubber has been segmented into natural and synthetic.
Based on the Product, the Global Market for Industrial Rubber has been segmented into tires, seals, adhesives & sealants, shock-absorbing parts, conveyor belts, hoses, roofing, sports equipment, and others.
On the basis of the Product Processing, the Global Market for Industrial Rubber has been segmented into extrusion, roller die, calendering, coating, molding& casting.
On the basis of the End-Use Industry, Global Industrial Rubber Market is segmented into building & construction, automotive, industrial manufacturing, electrical & electronics, and others.
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The Global Market for Industrial Rubber has been spanned across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific led the Global Industrial Rubber Market in 2016 due to the high demand for industrial rubber from key end-use industries such as automotive, construction, and electronics. High production and sales of automotive combined with rapid urbanization in the region are anticipated to push market growth over the forecast period.
North America was the second-largest region in 2016 due to the strong demand for industrial rubber from the reviving construction and automotive industries. The rising demand for fuel-efficient automotive parts due to environmental concerns and strict regulations is projected to boost the market.
Europe is projected to expand rapidly due to the high demand and sales of automotive parts in Western European countries such as Germany, the United Kingdom, France, and others. In addition, heavy investment in health care to provide safe and better facilities is expected to fuel market growth.
Latin America is expected to see substantial growth due to the booming automotive industry in Mexico, Brazil, and others.
The Middle East & Africa is expected to see strong demand for industrial rubber due to rising infrastructure and construction activities in the GCC countries.
COVID-19 Study in Detail:
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NOTE: Our team of researchers is studying COVID-19 and its impact on various industry verticals and wherever required we will be considering COVID-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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