The rubber tire is the largest demanded product in industrial rubber market; however, constantly growing automotive industry and new automobile innovations are majorly responsible for the growth of industrial rubber product market.
Sarasota, FL -- (SBWIRE) -- 08/04/2017 -- Rubber is compounded material that can be produced naturally or by the combination of complex chemical compounds. Rubber is an essential material used in our day-to-day life, either directly or indirectly, since many decades. Abrasion resistance, elongation, tensile strength, and tear resistance are some important characteristics of rubber. In addition, rubber is resistive to water owing to which it is widely applicable for rainwear, diving equipment, chemical tubing, and others.
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The industrial rubber product market is segmented based on the type of natural rubber and synthetic rubber. Natural rubber is made up of latex which is an isoprene polymer; however, it is produced from rubber trees. Synthetic rubber is further classified as styrene butadiene rubber (SBR), polybutadiene (BR), ethylene propylene (EPDM), nitrile butadiene rubber (NBR), and acrylonitrile butadiene styrene (ABS). Of which, styrene butadiene rubber (SBR) type has the largest demand in rubber market globally. Based on end-user, the global market is segmented as the automobile, medical, adhesives, sealants, gloves, and others.
The rubber tire is the largest demanded product in industrial rubber market; however, constantly growing automotive industry and new automobile innovations are majorly responsible for the growth of industrial rubber product market. Owing to its elongation property and high resistance to tear, it is widely used for producing adhesive and sealants in various industries. And hence, this factor contributes to the industrial rubber market growth. The compulsion of industrial safety shoes and accessories due to the implementation of ISO standards in industries is also key factor augmenting the growth of the rubber market. Mostly, every type of industry have their production machinery which is installed as per their convenience; thus, various rubbers products such gaskets, hoses, rings, seals and conveyor belts are utilized to make the operation of the machinery and the process smooth and vibrationless. Moreover, in order to transmit power to the shaft of the motor, a special rubber belt is used and several other products such as timing belt, spinning belt, and V-belt are also utilized in high quantity. Hence, this operational utilization is the key growth factor for industrial rubber product market. However, strict rules issued by the government due to ecological concerns may hamper the growth of the industrial rubber product market in the near future.
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Asia-Pacific is the largest market for industrial rubber products owing to increasing automotive industry. North America is expected to grow at a steady pace due to economy slowdown. However, the Middle East is anticipated to witness a rapid growth in the market in future.
Some of the key companies dominating the industrial rubber product market include Carlisle Companies Inc., Toyo Tire and Rubber Co., Cooper Standard Automotive Inc., Myers Industries Inc., Continental AG, and Delphi Corp. Other players influencing the global market are Yokohama Rubber Company Ltd., Freudenberg Group, Trelleborg AB, Hutchinson SA, NoK Corp., Parker-Hannifin Corp., Tokai Rubber Industries Ltd., Tomkins Plc., Eaton Corp., Bridgestone Corp. Ltd., Nichirin Co. Ltd., and Goodyear Tire.
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Industrial Rubber Product Market: Regional Segment Analysis
The Middle East and Africa