Market Analysis: Global Industrial Rubber Market
The Global Industrial Rubber Market is expected to reach USD 38.49 billion by 2025, from USD 26.86 billion in 2017, growing at a CAGR of 4.4% during the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2015 & 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global Industrial Rubber Market
This market report defines the market trends and forecast the upcoming opportunities and threats of the global industrial rubber market in the next 8 years. Industrial rubber is classified into synthetic rubber and natural rubber. Synthetic rubber is produced by polymerizing unsaturated hydrocarbons such as isoprene and butadiene. It has major role in the automotive industry. Natural rubbers are obtained from the latex sap of trees. There are various applications of natural rubber in different sectors such as chemical, transportation, agriculture, and aerospace industries. Application of wire & cable in rubber industry is the most prominent factors in the market, such as rubber insulated reeling cable, submersible pump cable, flat wire, roller bind cabala, among others. According to the article published in 2016 by powerwatchindia, wires and cables market in India accounted for 40% of the electrical industry. Currently the growing rate of wire & cable industry is around 15%.Due to significant demand of wire and cables will drive the growth of the industrial rubber market in future. Various applications of rubber in automobile industry for the production of tires, door and window profiles, hoses, belts, matting, and flooring are contributing in the growth of industrial rubber market. According to the article published in 2017 by Indian independent and professional investment information and credit rating agency (ICRA), there is increased in sales in the automobile sector. It’s estimated that auto component industry is expected to grow 11% in the upcoming year. Growth of auto component industry will directly effect to the growth of industrial rubber.
Major Market Drivers and Restraints:
- Increasing demand from the automotive industry
- Growing demand in Asia- pacific
- Growing demand for eco-friendly rubber
- Environmental regulations
- Health hazards associated with industrial rubber
Market Segmentation: Global Industrial Rubber Market
- The global industrial rubber market is segmented based on type, application, and geographical segments.
- Based on type, the global industrial rubber market is segmented into synthetic rubber and natural rubber.
- On the basis of application, the global industrial rubber market segmented into automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, and others.
- Based on geography, the global industrial rubber market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil .among others.
Competitive Analysis: Global Industrial Rubber Market
The global industrial rubber market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of industrial rubber market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Industrial Rubber Market
Some of the major players operating in the global industrial rubber market are LANXESS, US Rubber, TSRC, Nizhnekamskneftekhim , JSR Corporation , LG Chem , Versalis S.p.A. , ZEON Corporation , Ansell, Asahi Kasei Advance Corporation, NISHIKAWA RUBBER CO.,LTD., THAI RUBBER CORPORATION, Companiess.com, Trinseo, versalis.eni.com. Bridgestone, Exxon Mobil Corporation , MICHELIN, Sri Trang Agro-Industry Plc., The Dow Chemical Company , Bridgestone Corporation, Cooper Standard Inc., Continental AG, Freudenberg Group, The Goodyear Tire & Rubber Company, HEXPOL AB, Gates Corporation, NOK CORPORATION, Sumitomo Riko Company Limited, Eaton, Myers Industries, Inc., Yokohama Rubber Co., Ltd. among others.
Research Methodology: Global Industrial Rubber Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.