The global industrial rubber products market is
defined by the presence of equally balanced competitors with strong
brands value, finds a research study by Transparency Market Research
(TMR). The market exhibits a highly concentrated structure. The top
six players in this market, namely, Continental AG, Hutchinson,
Freudenberg Group, Cooper Standard Automotive Inc., Sumitomo Riko Co.
Ltd., and Bridgestone Corp., accounted for more than 63% of the
overall market in 2015. The leading companies are focusing
aggressively on acquisitions and strategic partnerships, which is
likely to increase the competition within the market over the next
few years, notes the study.
According to the research report, the global
market for industrial rubber products will be proliferating at a CAGR
of 5.80% over the period of 2016-2024 with the opportunity in this
market increasing from a value of US$47.7 bn in 2015 to US$79.5 bn by
the end of the forecast period. Mechanical rubber goods have surfaced
as the most valued product in this market. Analysts expect this trend
to remain same over the forthcoming years due to the increasing usage
of these goods in automobiles across the world.
This 215 page report gives readers a
comprehensive overview of the Industrial Rubber Products market.
Browse Market Research Report @
Demand for Industrial Rubber Products to Remain
Stronger in Automotive Sector
In this report, the construction, automotive, and
the aerospace industries have been considered as the prime end users
of industrial rubber products, among which, the most prominent demand
for these products is being registered by the automotive sector. The
widespread application of these products in the interiors, under the
hood, and the overall structure of automobiles is expected to
maintain the position of the automotive industry as the key end user
of industrial rubber products over the next few years.
The report further presents a geographical
assessment of the worldwide industrial rubber products. According to
it, North America, the Middle East and Africa, Latin America, Europe,
and Asia Pacific are the main regional markets for industrial rubber
products across the world. Amongst all, Asia Pacific acquired the
leading position in 2015 with a share of 40% in the overall market.
Researchers predict this regional market to remain on top throughout
the forecast period, thanks to the presence of a massive pool of
large-sized rubber production facilities in a number of Asian
economies, such as India, China, Thailand, Malaysia, and Indonesia.
Urbanization and Industrialization Playing
Crucial Role in Increasing Demand for Industrial Rubber Products
“The rapid urbanization, strengthening economy,
and the ongoing efforts towards industrialization have influenced the
global market for industrial rubber products significantly,” says a
TMR analyst. With the rising construction activities to cater the
requirements created by urbanization and industrialization across the
world, the demand for industrial rubber products is likely to
increase substantially in the near future.
The steady growth in production of motorcycles and
bicycles, fueled by the rising trend of owning a vehicle among
consumers is also projected to boost the worldwide market for
industrial rubber products over the next few years. However, the
volatile nature of the raw material prices and the increasing import
penetration and decreasing demand from transportation equipment
manufacturing are likely to affect the market severely during the
forecast period, states the research report.
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The study presented here is based on a report by
Transparency Market Research (TMR), titled “Industrial Rubber
Products Market (Rubber Type - Natural Rubber, Styrene Butadiene
Rubber, Polybutadiene, Ethylene-propylene, and Nitrile Butadiene
Rubber; Product - Mechanical Rubber Goods, Rubber Hose, Rubber Belts,
and Rubber Roofing; Technology - Tire Manufacturing, Tube
Manufacturing, Molded Product Manufacturing, Extruded/Calendared
Product Manufacturing, Fabricated Product Manufacturing, and Latex
Based Product Manufacturing; End User - Construction, Automotive, and
Aerospace) - Global Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2016 - 2024.”
The report segments the global industrial
rubber products market as:
By Rubber Type
- Natural Rubber
- Styrene Butadiene Rubber
- Polybutadiene
- Ethylene-propylene
- Nitrile Butadiene Rubber
- Others
By Product
- Mechanical rubber goods
- Rubber hose
- Rubber belts
- Rubber roofing
- Others
By Technology
- Tire Manufacturing
- Tube Manufacturing
- Molded Product Manufacturing
- Extruded/Calendared Product Manufacturing
- Fabricated Product Manufacturing
- Latex Based Product Manufacturing
- Others
By End User
- Construction
- Automotive
- Aerospace
- Others
About
Us
Transparency Market Research (TMR) is a global market intelligence
company providing business information reports and services. The
company’s exclusive blend of quantitative forecasting and trend
analysis provides forward-looking insight for thousands of decision
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of research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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