According to the latest report published by Credence Research, Inc. “Industrial Rubber Products Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global industrial rubber products market was valued at US$ 48.96 Bn in 2016, and is expected to reach US$ 79.41 Bn by 2025, expanding at a CAGR of 5.5% from 2017 to 2025.
Browse the full report Industrial Rubber Products Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 report at http://www.credenceresearch.com/report/industrial-rubber-products-market
The global industrial products market is expected to progress at a satisfactory pace during the following decade, majorly owing to growing demand of rubber products from automotive OEM manufacturers, construction industry and growing application areas of industrial rubber in commercial, construction and infrastructure sectors. However, fluctuations in prices of raw material used in manufacturing of industrial rubber products may have a restraining effect on the overall market growth.
The demand for mechanical rubber goods products is anticipated to be the highest through the forecast period. Heavy deployments of mechanical goods in manufacturing industry and automotives are the major contributor to the dominance of mechanical rubber products segment. In terms of application areas, rising demand for automotives, and gradual expansion of automotive manufacturers in emerging nations of Middle East and Africa and Asia Pacific will contribute to dominance of automotives as the largest application area for industrial rubber products. The demand for these products across both OEMs and aftermarket solutions is anticipated to remain strong through the forecast period.
In terms of geographical distribution, the global industrial rubber products market is anticipated to be dominated by Asia Pacific. Domicile of several large rubber manufacturing zones and prevalence of several large consumer companies scattered across the region, make Asia Pacific the largest market for industrial rubber products on the global front. On the other hand, heavy infrastructural development in Middle East and Africa especially in commercial, and construction sectors makes the region to present lucrative opportunities for industrial rubber products manufacturers in the region.
Carlisle Companies Inc., Bridgestone Corp., Continental AG, Cooper Standard Automotive Inc., Delphi Corp., Dunlop Conveyor Belting (Fenner plc), Eaton Corp, Freudenberg Group, Goodyear Tire and Rubber Company, Hutchinson SA (Total), Myers Industries Inc., Nichirin Co. Ltd., NoK Corp., Parker-Hannifin Corp., Toyo Tire and Rubber Co. Ltd., Tokai Rubber Industries Ltd., Trelleborg AB and Yokohama Rubber Company Ltd. are some of the most prominent names in the industrial rubber products market.