The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional industrial rubber products market over the short term as well as long term
Pune, India -- (SBWIRE) -- 01/21/2020 -- Industrial rubber products are used in different industrial applications like power generation, mining, agriculture, transportation, and paper industries. As the products are used in such a wide range of sectors, Infinium Global Research has recently published a report on the industrial rubber products market. The report provides in-depth information about the industrial rubber products market which is expected to grow at a CAGR of 5.2% over the forecast period of 2019-2025.
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The Surge in Demand for Autonomous and Battery Vehicles Promotes the Growth of the Industrial Rubber Products Industry
The rising demand for automotive and its components drive the growth of the industrial rubber products market. The growing application of rubber products in end-use industries contributes to the growth of the industrial rubber products market. The rising infrastructure and construction activities in developing countries stimulate the growth of the industrial rubber products market. The surge in demand for autonomous and battery vehicles promotes the growth of the industrial rubber products market. On the flip side, fluctuating raw material prices and volatile raw material supply hamper the growth of the industrial rubber products market. Moreover, research and development promote innovations that create several opportunities for the growth of the industrial rubber products market.
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Industrial Rubber Products Market: Segmentation
The global industrial rubber products market is segmented on the basis of product type, rubber type, and end-user. Based on rubber type, the industrial rubber products market is divided into mechanical rubber goods, rubber hose, rubber roofing, and rubber belts. The rubber type segment includes natural rubber, styrene-butadiene rubber, polybutadiene, ethylene-propylene, nitrile butadiene rubber, and other rubber types. On the basis of end-user, the industrial rubber products market is classified into construction, aerospace, automotive, and other end-users.
Asia-Pacific is anticipated to have a Premium Share
Geographically, the global industrial rubber products market is divided into North America, Asia-Pacific, Europe, and the Rest of the World. Asia-Pacific is anticipated to have a premium share in the global industrial rubber products market. The growing construction and automotive sector in the Asia-Pacific region contribute to the growth of the industrial rubber products market in Asia-Pacific. Europe is expected to grow in the global industrial rubber products market with a significant CAGR over the forecast period. North America is showing moderate growth in the global industrial rubber products market.
Industrial Rubber Products Market: Competitive Analysis
The key players in the global industrial rubber products market are ZEON Corporation, Goodyear Tire and Rubber Company, TSRC Corporation, Kumho Petrochemical Co., Ltd., Sinopec Group, LG Chem Ltd., Versalis S.p.A., Gates Corporation, Myers Industries, Inc., Yokohama Rubber Co., Ltd., and other companies. The leading companies in the global industrial rubber products market are adopting strategies such as mergers, acquisitions, and new product launches that maximize their market share.
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About Infinium Global Research
The Infinium Global research comprises of a team of well-experienced analysts who have qualified in generating incisive reports. The industrial rubber products market report offers trends, opportunities, challenges, market size, and forecast for major geographical regions and key countries. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the industrial rubber products market.