Scienza e Tecnologia
Industrial Rubber Market to Garner $44.6 Bn, Globally, By 2026 at 5.2% CAGR, Says Allied Market Research
Rise in demand for industrial rubber from the automotive industry, and growth in construction activities fuel the growth of the global industrial rubber market. On the other hand, high cost of raw materials used for rubber manufacturing impedes the growth to certain extent. However, advancements in technologies is expected to usher in a plethora of opportunities for the key players in the industry.
Based on type, the synthetic segment is expected to account for more than three-fifths of the global industrial rubber market share in 2019, and would retain its dominance during 2019 to 2026. In addition, the segment is estimated to register the fastest CAGR of 5.7% from 2019 to 2026. The fact that synthetic rubber offers more abrasion resistance than natural rubber drives the growth of the segment.
Based on end user industry, the automotive segment is anticipated to hold more than one-third of the global industrial rubber market revenue in 2019, and would lead the trail throughout the forecast period. Moreover, the segment is predicted to showcase the fastest CAGR of 6.0% till 2026. The growing use of rubber and rubber products in automotive antivibration, fluid transfer systems, adhesives & coatings, body sealing systems, molded parts, flat seals, foam and converting products is expected to drive growth of the market.
Based on geography, the region across Asia-Pacific , followed by Europe and North America , is projected to generate the largest share, contributing to more than one-third of the global industrial rubber market. The same region would also cite the fastest CAGR of 5.8% by 2026. The economies like China , India , and Japan are contributing significantly toward the growth of the market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon . Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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