Global Industrial Rubber Market Size, Drivers, Trends, Opportunities And Strategies – Includes Industrial Rubber Market Overview
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The growth in the automotive industry are expected to drive innovation in industrial rubber manufacturing, thus driving the market during the forecast period.
The global industrial rubber market is expected to grow from $39.31 billion in 2022 to $42.04 billion in 2023 at a compound annual growth rate (CAGR) of 6.94%. The industrial rubber market size is expected to reach $53.30 billion in 2027 at a CAGR of 6.1%.
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- By Rubber Type:Natural Industrial Rubber, Synthetic Industrial Rubber
- By Processing Type:Injection Melding, Compression Melding, Extrusion, Others Processing
- By Product:Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others Products
- By Application:Automotive, Building and Construction, Industrial Manufacturing, Polymer Modification, Wire and Cable, Electrical and Electronics, Bitumen Modification, Coating, Sealant, and Adhesive, Medical and Healthcare, Others Applications
- By Geography:The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global industrial rubber market in 2021.
Major Market Players in the industrial rubber market include Lanxess, BridgeStone Corporation, Taiwan Synthetic Rubber Corp. (TSRC), JSR Corporation, ZEON Corporation, LG Chem, Toyo Tire, Yokohama Rubber Company Ltd.
Technological advancements are a key trend gaining popularity in the industrial rubber market. Major companies operating in the industrial rubber market are introducing new products and technology, such as green and sustainable technology based product to sustain their position in the market. For instance, in August 2022, Global Rubber Industries (GRI), a Sri Lanka-based tire manufacturer, launched the new Green XLR Earth series of radial agricultural tires. This new product is the first sustainable tire series for the agricultural industry based on sustainable technology. It is made of 37.5% sustainable materials and is made with a high percentage of recycled carbon black to lessen its carbon footprint. It also contains soybean oil, which is renewable and sustainable, and ensures that natural rubber retains more of its original properties to improve the tire’s overall performance.
The Industrial Rubber Global Market Report 2023 provides a industrial rubber market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The industrial rubber market forecast analyzes industrial rubber market size, industrial rubber market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Industrial rubber refers to rubber used in manufacturing various rubber-related industrial products ranging from mining to power generation. These industrial rubber goods have different performance standards, including fluid resistance, conductivity, friction coefficient, permeation, and dynamic qualities. The form of rubber materials used during manufacturing influences the product’s strength, durability, and capacity.
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