Industrial Rubber Market To Surpass US$ 167,935 Million By 2026

Posted by Vinay on September 27th, 2017

Characteristics of rubber such as reusability and higher suppression capacity render them as ideal raw material among most of the industries across the globe. The versatility of industrial rubber applications saves loses in millions and rakes billions of dollars. The value of global industrial rubber market in 2016 was worth US ,067.7 million and it is estimated to register an impressive 6.1% CAGR during the forecast period (2016 to 2026) to reach a market value of US 7,935 million by 2026 end. Industrial rubber of around 55 million metric tons is estimated to be consumed around the world by 2026 end.

Factors influencing the Growth of Global Industrial Rubber Market Include Increasing global construction output,Rising industrial rubber sales through digital marketing,Improvement in large scale industrial rubber production owing to technological advancements,Effective industrial rubber application in emerging industrial verticals and automotive segment.

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Fluctuating Costs of Natural Rubber Affects Global Industrial Rubber Consumption

Global industrial rubber consumption highly depends upon fluctuating prices of raw rubber and austerity environmental regulations on disposal, use & production of rubber products. PMR’s estimation states that natural rubber consumption by industries will witness a comparatively slow pace during 2017 and beyond registering a bit more than 37% share of global market value. Regarding synthetic industrial rubbers, the global styrene butadiene rubber consumption is estimated to register growth at 7% CAGR during 2016 to 2026. In addition, ethylene-propylene rubber, silicone rubber and polybutadiene rubber are expected to garner higher demand growth during the forecast period.

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APEJ Remains Dominant in the Global Industrial Rubber Market During 2016 to 2026

Industrial rubber application segments include industrial machinery & equipment, automotive & transportation, building & construction and others. Among these, automotive & transportation segment is estimated to remain the largest segment in the global industrial rubber market during the forecast period accounting for more than 40% global production of industrial rubber. Region-wise, APEJ (Asia Pacific Excluding Japan) stands as the dominant region in the global industrial rubber market during 2016 to 2026 owing to robust production of automobiles in this region. The revenues for APEJ industrial rubber market is estimated to reach US ,939.3 million by 2026 end accounting for more than 1/3^rd revenues of overall market. Middle East & Africa, on the other hand, is expected to witness robust growth in industrial rubber market registering an impressive 6.6% CAGR during the forecast period.

Injection Molding to be the Most Lucrative Method for Processing of Industrial Rubber

As per PMR’s report, majority of industrial rubber produced across the globe are estimated to utilize injection molding method. The revenues generated by global sales of industrial rubber processed through injection molding accounted for US ,189.5 million in 2016. Owing to rising adoption of injection molding process, compression molding process is likely to witness lower market presence in the near future. Whereas, industrial rubber manufactured through extrusion process is anticipated to contribute consistent 34.2% market value share to global industrial rubber market during the forecast period.

Leading manufacturers in the global industrial rubber market include Lanxess AG, E.I. duPont de Nemours & Company, JSR Corporation, Sumitomo Chemical Co. Ltd., Ube Industries Ltd., Dow Chemical Co., Asahi Kasei Corporation, Exxon Mobil Corporation, Denka Company Limited and Zeon Corporation. While, prominent industrial rubber manufacturers around the world include Bridgestone Corporation, Goodyear Tire & Rubber Corporation,

Trelleborg AB, Parker-Hannifin Corporation, Yokohama Rubber Company Ltd., Bando Chemical Industries Ltd., Eaton Corporation, Continental AG, Nichirin Co. Ltd. and Carlisle Company Inc.

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