PUNE, India, March 20, 2018 /PRNewswire/ --
ReportsnReports.com adds Industrial Rubber Market is forecast to reach $33.82 billion by 2022 from $26.99 billion in 2017 at a CAGR of 4.6% during (2017-2022) driven by the growing demand from the automotive and building & construction industries in the Asia Pacific, as the region has the largest number of automotive production plants globally and is witnessing significant infrastructural developments.
Browse 131 Market Data Tables and 36 Figures spread through 150 Pages and in-depth TOC on "Industrial Rubber Market by Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification), Type, Product, and Region - Global Forecast to 2022" http://www.reportsnreports.com/reports/1399074-industrial-rubber-market-by-application-automotive-building-construction-industrial-manufacturing-polymer-modification-wire-cable-electrical-electronics-bitumen-modification-type-product-and-region-st-to-2022.html .
The industrial rubber market in the Asia Pacific is expected to grow at the highest CAGR of 5.1%, in terms of value, between 2017 and 2022. The Asia Pacific is expected to lead the industrial rubber market, in terms of both volume and value, in 2017. In terms of value, the Asia Pacific is estimated to account for the largest share of the global industrial rubber market in 2017. The increased demand for industrial rubber from non-tire automotive, building & construction, industrial manufacturing, and other applications in countries such as China and India is driving the industrial rubber market in the Asia Pacific.
The key players operating in the industrial rubber market are LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corporation (Japan).
Inquire for DISCOUNT on "Industrial Rubber Market by Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification), Type, Product, and Region - Global Forecast to 2022" research report at http://www.reportsnreports.com/contacts/discount.aspx?name=1399074 .
Among applications, the automotive segment is expected to lead the industrial rubber market during the forecast period. Based on application, the industrial rubber market has been segmented into automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, medical & healthcare, bitumen modification, coating, sealant & adhesive, and others. Automotive is expected to be the largest application segment of the industrial rubber market. In terms of value, the automotive segment is projected to continue its dominance during the forecast period. Industrial rubbers are replacing other materials in several applications, as they have improved performance characteristics such as stiffness and abrasion resistance making them a suitable replacement for metal, glass, and wood parts used in the automotive application.
Among types, the synthetic rubber segment is expected to lead the Industrial Rubber Market during the forecast period. Based on type, the industrial rubber market has been segmented into natural rubber and synthetic rubber. The growth of the synthetic rubber segment can be attributed to its wide use in different applications. Synthetic rubber is used in large quantities in the automotive application due to its abrasion-resistant property. Synthetic rubber produced in the latex form is used as a rubbery adhesive in carpet manufacturing. Its other applications include drive couplings, haul-off pads, conveyor belts, adhesives, roll coverings, and various other molded rubber goods.
The industrial rubber market in developed economies, such as the US and Japan will witness market gains below the global average, owing to sluggish growth in durable goods consumption and automotive production. One of the major restraints for the industrial rubber market growth is environmental regulations and health hazards associated with the industrial rubber and its manufacturing. There are a number of regulations for the industrial rubber manufacturing; for example, butadiene was listed as a toxic substance under the Canadian Environmental Protection Act, 1999 (CEPA 1999). Such regulations have restricted the growth of the global industrial rubber market.
Order a copy of "Industrial Rubber Market by Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification), Type, Product, and Region - Global Forecast to 2022" research report at http://www.reportsnreports.com/purchase.aspx?name=1399074 .
This report offers an overview of the industrial rubber market trends, drivers, restraints, challenges, and opportunities. It also provides a detailed overview of the industrial rubber market across 5regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. The report categorizes the industrial rubber market based on application, type, product, and region. A detailed analysis of the leading players, along with key growth strategies adopted by them has also been covered in this report on the industrial rubber market.
In the process of determining and verifying the Industrial Rubber Market size gathered through secondary research for different segments and sub segments of the industrial rubber market, extensive primary interviews have been conducted with key industry experts. The break-up of profiles of primary participants has been given below. Break-Up of Profiles of Primary Participants:
- By Company Type: Tier 1 - 50%, Tier 2 - 37%, and Tier 3 - 13%
- By Designation: C Level - 48%, Director Level - 31%, and Others - 21%
- By Region: North America - 33%, Europe - 28%, Asia Pacific - 21%, South America - 10%, and Middle East & Africa - 8%
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