ALBANY, N.Y., Sept. 3, 2020 /PRNewswire/ -- The global industrial rubber products market is set to grow at a CAGR of about 6% from 2019 to 2027. This will take the market worth up from approximately USD 106 billion in the year 2018 to about USD 174 billion by 2027. It is pertinent to note here that significant demand is arising from automotive industry and for performance demanding applications.
As per Transparency Market Research, "A number of growth factors are responsible for growth in the global industrial rubber products market over the forecast period. A notable one is increase in construction volumes anticipated for the coming few years. It is a natural outcome of increase in disposable income and increasing global population that requires houses, offices and so on."
Competitive Landscape of Global Industrial Rubber Products Market:
Top companies, operating in the fragmented vendor landscape of global industrial rubber products market and profiled by Transparency Market Research, are Parker Hannifin Corporation, Carlisle Companies Inc., Bridgestone Corporation, The Goodyear Tire & Rubber Company, Cooper Standard Holdings Inc., Continental AG, Eaton, Freudenberg Group, NOK CORPORATION, Yokohama Rubber Co. Ltd., Sumitomo Riko Company Limited, Delphi Technologies Plc, Hutchinson, Myers Industries Inc., Gates Corporation, and HEXPOL AB, among others. Profiling is inclusive of key developments, financial details, company description, and business overview.
Stearates Market - The global Stearates market was valued at US$ 4,512.4 Mn in 2018 and is anticipated to expand at a CAGR of 5.5% during the forecast period. The market for stearates is driven by factors such as high demand for additives in the plastic & rubber processing industry coupled with rising demand for stearates in the building & construction industry. Stearates are used as lubricating, releasing and anti-caking agents in plastic processing. Stearates are also used as acid scavengers in plastic processing and compounding.
2-shot Injection Molding Market - The global 2-shot injection molding market is projected to grow at a CAGR of nearly 7% between 2019 and 2027. Rising demand for high precision parts in automotive & medical industry coupled with growing use of recycle plastics is likely to drive 2-shot injection molding market during the forecast period. 2-shot injection molding is defined as the molding process, wherein a single injection molding machine and a single injection mold is used to form a part with two or more polymer resins within one cycle. 2-shot injection molding is sometimes also called as 2-k injection molding and double injection molding.
Naphthenic Base Oil Market - The global naphthenic base oil market is segmented on the basis of viscosity index, application, and region. Under viscosity index, the market consists of five prominent segments viz. 35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, and above 1200 SUS. From these, the 35-60 SUS segment is expected to showcase a higher demand owing to low pour point and low temperatures, thus making the product type easier to handle.
Chlorinated Paraffins Market - The global chlorinated paraffins market is projected to grow at a CAGR of nearly 3.5% between 2019 and 2027. Growth in plastic and metalworking industries is primarily estimated to augment the global chlorinated paraffins market in the next few years. However, availability of application-specific substitutes and potential prohibition on the production and consumption in developed regions are projected to hamper market growth during the forecast period.
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