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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, June 3, 2020

Rubber Division, ACS, announces June course and webinar schedule - click to expand

Arkema finalizes divestment of Functional Polyolefins business - click to expand

Engel and Hack Formenbau collaborate against COVID-19 - click to expand

Global automotive tire market forecast with a CAGR of 4.1 percent through 2027 - click to expand

PolymaxTPE announces laboratory line expansion - click to expand

Tuesday, June 2, 2020

GRI puts safety at the fore in Sri Lanka production plants - click to expand

Pirelli introduces Cinturato P7 tire with intelligent compound - click to expand

European all season tire market forecast with a CAGR of 9 percent through 2024 - click to expand

Cooper Tire to restart production at El Salto, Mexico, tire manufacturing facility - click to expand

JK Tyre begins operations in the U.S. as Western Tires, Inc. - click to expand

Orion Engineered Carbons breaks ground on logistics center in Germany - click to expand

Monday, June 1, 2020

Goodyear and Enovos will build two photovoltaic power stations in Luxembourg - click to expand

Active Minerals announces completion of Gordon, GA, facility expansion - click to expand

Thermoplastic and Silicone Elastomers U.S. 2020 Summit takes place virtually - click to expand

Lubrizol presents webinar on Estane thermoplastic polyurethane - click to expand

Yokohama's Virginia tire plant reopens - click to expand

Rubber Division, ACS, 197th Technical Meeting presentations available - click to expand

Friday, May 29, 2020

Global elastomeric coatings market forecast with a CAGR of 15 percent through 2026 - click to expand

Book of the Day: Chemical Resistance Guide for Elastomers IV - click to expand

Swan Chemical named North American distribution partner for Bolder Industries’ BolderBlack - click to expand

CCSi announces expanded capabilities and price matching policy - click to expand

Goodyear blimp returns to Europe - click to expand

Global thermoplastic polyurethane market expected to rise at a steady 6.8 percent CAGR through 2024 - click to expand

Thursday, May 28, 2020

Sibur creates sustainable development committee - click to expand

Global structural adhesives market to surpass $7 billion by 2024 - click to expand

Goodyear to donate the cost equivalency of 100 meals to Feeding America for every tire sold - click to expand

EMT technology available in North America through 2BA North America - click to expand

Disposable medical gloves market size forecast to reach $8.73 billion by 2025 - click to expand

Energy Estate and InfraCo partner to help solve waste tire mountains in Australia and New Zealand - click to expand

Wednesday, May 27, 2020

Borealis discontinues world scale polyethylene project in Kazakhstan - click to expand

Birla Carbon is first carbon black multinational to receive IATF certification across all manufacturing plants - click to expand

Huntsman brands spray polyurethane foam business as Huntsman Building Solutions - click to expand

Ashland board declares quarterly dividend - click to expand

Bridgestone announces release of Firestone FD692 drive tire - click to expand

Global sealants market projected to grow by $4.9 billion - click to expand

Market Reports

Aircraft interior elastomers market forecast at $45.5 million in 2025 - click to expand

Global automotive tire market forecast with a CAGR of 4.1 percent through 2027 - click to expand

European all-season tire market forecast with a CAGR of 9 percent through 2024 - click to expand

Global elastomeric coatings market forecast with a CAGR of 15 percent through 2026 - click to expand

Disposable Medical Gloves Market size is forecast to reach $8.73 billion by 2025 - click to expand

Global thermoplastics polyurethane market is expected to rise at a steady 6.8% CAGR through 2024 - click to expand

Global structural adhesives market to surpass $7 billion by 2024 - click to expand

Sealants market worldwide is projected to grow by $4.9 billion - click to expand

Global silicone market is estimated to register a CAGR of 5.65 percent through 2023 - click to expand

Medical glove market forecast with a CAGR of 15 percent through 2025 - click to expand

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