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Industrial rubber products market forecast to reach $174 billion by 2027

  1/14/2020 - Pune, India - Transparency Market Research's market report for industrial rubber products forecasts a 6 percent CAGR during the period 2019-2026, with a market value estimated to reach $174 billion by 2027. Innovations in synthetic rubber are triggering growth for the industrial rubber products market. As such, styrene butadiene rubber is anticipated to dominate the global industrial rubber products market with the second-highest production among all rubber types, estimated to reach an output of ~7,500 kilo tons by the end of 2027. Hence, manufacturers are innovating new synthetic rubber solutions to improve tire technology. For instance, in March 2019, Trinseo, a provider of chemical material solutions, revealed that, the company is presenting a new grade of multifunctionalized styrene butadiene rubber tires at a trade fair in Germany. The growth of the SUVs and light trucks market has triggered the demand for multifunctionalized tires. Manufacturers in the industrial rubber products market space are increasing their efficacy in the production of multifunctionalized synthetic tires, since these offer excellent mechanical properties and increased fuel efficiency. Multifunctionalized tires are gaining widespread application in the automotive industry, since they overcome the challenges of physical stability and safety better as compared to conventionally-made tires. The easy-to-process attribute of multifunctionalized synthetic tires is boosting the manufacturing capabilities of companies in the industrial rubber products market space. The demand for industrial rubber products is largely dependent on innovations in auto components and motor vehicle output. Likewise, the automotive industry is estimated to account for the highest usage of industrial rubber products among all the end-use industries, predicted to consume ~30,700 kilo tons by 2027. The growing demand from the automotive industry and rise in application of rubber products in various end markets have triggered growth for the industrial rubber products market. Increased adoption of autonomous and battery vehicles is another driver for the growth of the industrial rubber products market. The demand for synthetic rubber types is projected to be on the rise due to the introduction of nano technology. This trend might hamper the demand for natural rubber. Despite technological innovations, natural rubber is predicted for high revenue growth, and dominates the industrial rubber products market in terms of high value and volume. Manufacturers are tapping into opportunities with the growing preference for nitrile latex in medical glove production. Companies in the industrial rubber products market are focusing on expanding their business in Asia Pacific. This is because Asia Pacific is projected to progress rapidly in terms of market volume share, from a record of ~40 percent in 2018 to ~47 percent by 2027. Moreover, China, India and Indonesia are rapidly expanding in the industrial rubber products landscape, owing to the easy availability of raw materials and labor. Due to favorable government tax incentives and subsidies, low-cost destinations in Asia Pacific are attracting major rubber recyclers to set up their manufacturing base. Automobile giants are increasing the penetration of motor vehicles in rural areas of developing countries in Asia Pacific. Burgeoning increase in construction and infrastructure activities, owning to low labor and operating costs, are catalyzing market growth in Asia Pacific. Likewise, increasing exports of rubber products and rubber-canvas footwear from India are boosting overall revenue growth of the Asia Pacific region. Stringent government regulations in the industrial rubber products market have given rise to the widespread application of reclaim rubber. As stakeholders in various end markets are becoming increasingly aware about the repercussions of scrap rubber ending up in landfills, and also due to fluctuating oil prices, they are using reclaim rubber over synthetic rubber. Unique properties of reclaim rubber such as excellent versatility and durability are making it a popular choice among manufacturers in the industrial rubber products ecosystem. Reclaimed rubber is also associated with reduced processing costs and easy availability of raw materials, which makes it a cost-efficient option for manufacturers in the industrial rubber products market. Easy availability of waste tires and the advent of recyclable materials are triggering the demand for reclaim rubber. However, innovative elastomer-based products pose a threat to reclaim rubber; although, elastomer is associated with very weak intermolecular forces and high failure strain as compared to rubber. Hence, manufacturers should increase the availability of industrial rubber products with high intermolecular forces and low failure strain for the construction and automotive sectors.

Wednesday, January 29, 2020

Retread tire market growing with a CAGR of 4.9 percent through 2027 - click to expand

Global automated handling market forecast to reach $60 billion by 2025 - click to expand

Cimcorp appoints Jarkko Hakkarainen as general manager of its newly established office in Madrid - click to expand

Specialty Silicone Products adds capacity with second mill and EMI extruder - click to expand

Michelin named top tire manufacturer among world’s most admired companies - click to expand

Tuesday, January 28, 2020

Cooper Tire completes acquisition of Mexico joint venture plant - click to expand

Global industrial robotics market likely to surpass $24 billion by 2025 - click to expand

GM invests $2.2 billion in first assembly plant completely devoted to electric vehicles - click to expand

Eastman experts to discuss increased performance, efficiency in tire production - click to expand

Global personal protection equipment market forecast at $73 billion by 2026 - click to expand

Monday, January 27, 2020

Toyo Tire releases videos on its tire development technologies co-produced with Discovery Channel - click to expand

Denka develops acrylic elastomer with heat resistance up to 190 degrees Celsius - click to expand

R.D. Abbott and Alpha Technologies offer one-day course on rheology applications - click to expand

Global polychloroprene market projected to grow at a CAGR of 4.1 percent through 2025 - click to expand

NPE2021 and ChinaPlas correct scheduling conflict - click to expand

India issues quality control orders on various steel imports - click to expand

Friday, January 24, 2020

Michelin announces PennyForAFreeRide scholarship winner - click to expand

Disposable medical gloves market forecast a $10.9 billion by 2026 - click to expand

Book of the day: Thermoplastic Elastomers - click to expand

New ASTM International standard supports flame retardants in plastics - click to expand

IRSG expects world demand for rubber to grow 2.6 percent in 2020 - click to expand

Thursday, January 23, 2020

Global advanced tires industry expected to hit $1.34 billion by 2030 - click to expand

Trinseo to announce fourth quarter and full year 2019 financial results - click to expand

Former Ameritex latex factory to reopen in Alabama under new owners - click to expand

Toshiba Machine fights activist investor's hostile takeover - click to expand

CCSi announces new headquarters and updated website for 2020 - click to expand

Global conductive silicone market forecast at $3.8 billion by 2025 - click to expand

Wednesday, January 22, 2020

Cooper Standard advances diversification strategy; announces three Fortrex technology development agreements - click to expand

Upcoming Rubber Division, ACS, courses announced - click to expand

Cooper Tire scores 100 percent on 2020 Corporate Equality Index - click to expand

Emergence of advanced tire technologies influencing tire cords and tire fabrics production - click to expand

Freudenberg Sealing Technologies’ new method shows how static seals actually age - click to expand

Global tire pressure monitoring system market to surpass $8 billion by 2026 - click to expand

Market Reports

Medical disposable market is anticipated to reach over $365.1 billion by 2026 - click to expand

Global isoprene rubber latex market forecast with a CAGR of 7.19 percent through 2025 - click to expand

Retread tire market growing with a CAGR of 4.9 percent through 2027 - click to expand

Global automated handling market forecast to reach $60 billion by 2025 - click to expand

Global industrial robotics market is lkely to surpass $24 billion by 2025 - click to expand

Global personal protection equipment market forecast at $73 billion by 2026 - click to expand

Global advanced tires industry is expected to hit $1.34 billion by 2030 - click to expand

Global neoprene market is projected to grow at a CAGR of 4.1% through 2025 - click to expand

Disposable medical gloves market forecast a $10.9 billion by 2026 - click to expand

Global conductive silicone market forecast at $3.8 billion by 2025 - click to expand

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