The global Industrial Rubber market is anticipated to grow significantly at a CAGR of 4.8% over the forecast period (2021-2027). The global industrial rubber market is segmented on the basis of type, application, and end-use industry. Based on the type, the market is segmented as natural and synthetic. The synthetic segment is likely to hold the most substantial share during the forecast period. The key aspect that drives the segmental growth of the global industrial rubber market includes the comprehensive applications of synthetic industrial rubber.
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Based on the application, the market is segmented as tires & tubes, hoses, gaskets, & seals, conveyor belts, wires & cables, and others. The tires & tubes segment is likely to hold the most substantial share during the forecast period. The key aspect that drives the segmental growth of the global industrial rubber market includes increased rubber demand from the automobile industry in the various tire and non-tire applications. This is due to the underlying properties of rubber, such as resilience, toughness, and elasticity which makes the product the key material for manufacturing tires for the automobile industry.
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Based on the end-use industry, the market is segmented as automotive & transportation, building & construction, industrial machinery & equipment, and others. The automotive & transportation segment is likely to hold the most substantial share during the forecast period. The key aspect that drives the segmental growth of the global industrial rubber market includes the emerging focus of the key automakers on electric vehicle manufacturing.
Market Coverage
- Market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Type, Application, and End-Use Industry
- Regions Covered- North America, Europe, Asia-Pacific, Rest of the World
- Competitive Landscape- JSR Corp., Asahi Kasei Corp., E.I. du Pont de Nemours and Co., Exxon Mobil Corp., Lanxess AG, LG Chem Ltd., Sumitomo Chemical Co. Ltd. and Ube Industries, Ltd. among others
Global Industrial Rubber Market – Segmentation
By Type
- Natural
- Synthetic
By Application
- Tires & Tubes
- Hoses, Gaskets, & Seals
- Conveyor Belts
- Wires & Cables
- Others
By End-Use Industry
- Automotive & Transportation
- Building & Construction
- Industrial Machinery & Equipment
- Others
(This release has been published on Global Market Post. Global Market Post is not responsible for any content included in this release.)
