A recent report published by Infinium Global Research on industrial rubber products market provides in-depth analysis of segments and sub-segments in the global as well as regional industrial rubber products market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial rubber products market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global industrial rubber products market. According to the report, the global industrial rubber products market is projected to grow at a CAGR of 5.2% over the forecast period of 2019-2025.
Industrial rubber products have a diverse range of applications. It has a spectrum of performance requirements from common strength properties to fluid resistance, friction coefficient, conductivity, permeation, and many more. Companies operating in the global industrial rubber market are adopting strategic mergers, acquisitions, and new product launches that expand their market share. For instance, in 2017, Goodyear Tire & Rubber Company acquired Ventech Systems GmbH. Ventech Systems is a leader in automated tire inspection technology. The acquisition strengthens Goodyear’s value proposition towards fleets such as premium tires, advanced technology, and mobile fleet solutions.
The increasing applications of rubber products in end-use industries drive the growth of the industrial rubber products market. The growing demand for automotive and its components contribute to the growth of industrial rubber products market. The surge in infrastructure and construction activities in developing countries boosts the growth of the industrial rubber products market. In addition, increasing demand for autonomous and battery vehicles stimulates the growth of the industrial rubber products market. On the other side, fluctuating raw material prices and the volatility of raw material supply hinder the growth of the industrial rubber products market. Moreover, research and development encourage innovations that create novel opportunities for the growth of the industrial rubber products market.
Based on geography, the global industrial rubber products market is classified into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific is expected to hold a premium share in the global industrial rubber products market. The rising construction and automotive sector in the Asia-Pacific region contribute to the growth of the industrial rubber products market in Asia-Pacific. Europe is expected to grow in the global industrial rubber products market with a healthy CAGR over the forecast period. North America is showing steady growth in the global industrial rubber products market.
The report on global industrial rubber products market covers segments such as product type, rubber type, and end-user. On the basis of product type, the sub-markets include mechanical rubber goods, rubber hose, rubber roofing, and rubber belts. On the basis of rubber type, the sub-markets include natural rubber, styrene butadiene rubber, polybutadiene, ethylene-propylene, and nitrile butadiene rubber, other rubber types. On the basis of end-user, the sub-markets include construction, aerospace, automotive, and other end-users.
The report provides profiles of the companies in the market such as ZEON Corporation, Goodyear Tire and Rubber Company, TSRC Corporation, Kumho Petrochemical Co., Ltd., Sinopec Group, LG Chem Ltd., Versalis S.p.A., Gates Corporation, Myers Industries, Inc., Yokohama Rubber Co., Ltd., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of industrial rubber products market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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