Global Industrial Rubber Market is expected to reach US$35.16 Bn by 2024 from US$ 25.84 Bn in 2016 at a CAGR of 4.5 %.
Global industrial rubber market is segmented into type, product, application, and region. On the basis of type, market is divided into Natural Rubber, Synthetic Rubber. Based on the product, market is classified into Mechanical Rubber Good, Rubber Belt, Rubber Hose, Rubber Roofing, Others. According to application, market is segmented by Automotive, Industrial Manufacturing, Building & Construction, Polymer Modification, Electrical & Electronics, Wire & Cable, Bitumen Modification, Medical & Healthcare, Coating, Sealant, & Adhesive, Others. Geographically market is spread by North America, Asia-Pacific, Latin America, Europe, and Middle East & Africa.
Industrial rubber market is mainly driven by automotive industry. Industrial rubber is mainly used for making tires used in bicycles, trucks, aircrafts and automobiles. Construction activities led by emerging economies across world will further impel the growth of industrial rubber market. Volatility of the oil prices, environmental concerns and concerned government regulations, lack of suppliers and increasing threat of alternative are factors hampering the growth of the industrial rubber market.
Mechanical rubber good segment is expected to hold largest shares of the market during the forecast period. Distributor of hose and belts will gain benefits from increased consumer demand of the durable goods, particularly machinery and equipment.
Automotive segment is leading the industrial rubber market. Increasing trend of lightweight vehicle will propel the demand of industrial rubber. Construction segment is about to gain market owing to trend of rubber roofing.
Geographically, the Industrial Rubber market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is expected to be largest markets for industrial rubber during the forecast period. The increasing use of industrial rubber in the automotive, building & construction and other applications is fueling the market growth in this region.
key players operating in market include Lanxess, Sinopec, The Goodyear Tire and Rubber Company, Kumho Petrochemical, TSRC Corporation, Nizhnekamskneftekhim, JSR Corporation, LG Chem, Versalis S.P.A., Zeon Corporation, PetroChina, ExxonMobil, Sibur, Group Dynasol, Kraton Corporation.
Scope Global Industrial Rubber Market:
Global Industrial Rubber Market, By Type:
• Natural Rubber
• Synthetic Rubber
Global Industrial Rubber Market, By Product:
• Mechanical Rubber Good
• Rubber Belt
• Rubber Hose
• Rubber Roofing
Global Industrial Rubber Market, By Application:
• Industrial Manufacturing
• Building & Construction
• Polymer Modification
• Electrical & Electronics
• Wire & Cable
• Bitumen Modification
• Medical & Healthcare
• Coating, Sealant, & Adhesive
Global Industrial Rubber Market, By Geography:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players operated in the Industrial Rubber Market:
• The Goodyear Tire and Rubber Company
• Kumho Petrochemical
• TSRC Corporation
• JSR Corporation
• LG Chem
• Versalis S.P.A.
• Zeon Corporation
• Group Dynasol
• Kraton Corporation
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