The Global Industrial Rubber Products Market is Projected to Reach US$155.5 Billion by 2022

Reviving Demand from Major End-use Markets to Encourage Growth in the Industrial Rubber Products Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Industrial Rubber Products market. The global Industrial Rubber Products market is projected to reach US$155.5 billion by 2022, driven by recovering demand conditions in major end-use markets.

Industrial rubber products, obtained by processing of natural, synthetic or reclaimed rubber, find use in a wide range of industrial applications including hoses, gaskets, conveyor belts, and sealing products. Industrial rubber products are used in several applications due to advantages such as better endurance to extreme environments and enhanced durability. Industrial rubber goods also exhibit corrosion resistance against alkalis, chemicals, and acids. Demand for industrial rubber products worldwide is positively benefiting from recovering economic environment and rapid pace of industrialization, both of which are stimulating manufacturing activity. Increased sales of automobiles and durable goods and expanding applications are fuelling demand growth in the market. The coming years will witness demand for industrial rubber products increase in key end-use sectors including construction, aerospace, mining and forestry, OEMs and replacement, household and appliances, and computer and office equipment. In line with the stable production forecasts for the world automobile industry, sales of industrial rubber products such as hoses, gaskets and belts are also forecast to grow in parallel. A fairly positive global manufacturing PMI index and recovery in CAPEX on plant upgrades and capacity expansions also bode well for the market.   

As stated by the new market research report on Industrial Rubber Products, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 7.6% over the analysis period. The growth in the region is led by factors such as fast growing automotive industry in countries such as China and India; rapid pace of industrialization and intensifying manufacturing activity in diverse fields; growing population, rising standards of living, improving disposable income, and increased consumption of motor vehicles, household appliances, and other consumer durables; and expanding application of rubber due to inherent material benefits such as strength, durability, water and heat resistance, among others.   

Major players covered in the report include Avon Rubber Plc, Bridgestone Corporation, ContiTech AG, Eaton Corporation, Fenner Plc, Gates Corporation, Habasit AG, Henniges Automotive, Hutchinson S.A., Meiji Rubber & Chemical Co. Ltd., Mitsuboshi Belting Ltd., Myers Industries Inc., Nichirin Co. Ltd., NOK Corporation, Parker-Hannifin Corporation, Semperit AG Holding, Sumitomo Rubber Industries Ltd., The Freudenberg Group, The Yokohama Rubber Company Ltd., Sumitomo Riko Company Limited, Toyo Tire and Rubber Co. Ltd., Toyoda Gosei Company Limited, and Trelleborg AB, among others.

The research report titled “Industrial Rubber Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analyzed include Mechanical Rubber Goods, Rubber Hose & Belting and Other Industrial Rubber Products. The US market for Industrial Rubber Products is additionally analyzed by the following End-Use Applications – Automotive, Industrial Equipment and Others.

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