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Industrial Rubber Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 7, 2024 /EINPresswire.com/ -- The industrial rubber market has experienced robust growth in recent years, expanding from $42.01 billion in 2023 to $44.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to industrialization, automotive industry growth, construction boom, advancements in material science, safety and performance requirements.

What Is The Estimated Market Size Of The Global Industrial Rubber Market And Its Annual Growth Rate?
The industrial rubber market is projected to continue its strong growth, reaching $58.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to customization and innovation, supply chain optimization, healthcare and medical sector, industry 4.0 integration, evolving material science.

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Growth Driver Of The Industrial Rubber Market
The growth in the automotive industry is expected to propel the industrial rubber market going forward. The automotive industry comprises industries involved in manufacturing, wholesale, retailing, and repairing automobiles. The improving level of living and expanding economy have altered purchasing power. Furthermore, the economic impact of COVID-19 has resulted in a dramatic spike in demand for personal mobility worldwide. Moreover, climate change and the desire to attain net-zero emissions are drive the global shift to emission-free transportation. These adoptions have increased production of EVs and hybrid vehicles. Such a surge in automotive demand has led to increased production and demand for industrial rubber used in a wide range of vehicle interiors and exteriors.

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Who Are The Leading Competitors In The Industrial Rubber Market Share?
Key players in the market include LANXESS AG, Bridgestone Corporation, Taiwan Synthetic Rubber Corporation, JSR Corporation, Zeon Corporation, LG Chem Co. Ltd., Toyo Tire & Rubber Co. Ltd., The Yokohama Rubber Co. Ltd., Kumho Petrochemical Co. Ltd., Cooper-Standard Holdings Inc., The Gates Corporation, Asahi Kasei Corporation, Exxon Mobil Corporation, Continental AG, Greenville Industrial Rubber & Gasket Co. Inc., ITT Corporation, Mitsubishi Chemical Corporation, NOK Corporation, Parker Hannifin Corporation, Pirelli & C. S.p.A., PolyOne Corporation, Qingdao Huahan Machinery Co. Ltd., R.D. Abbott Company Inc., Rubberlite Inc., Saint-Gobain S.A., Shin-Etsu Chemical Co. Ltd., Sumitomo Riko Company Limited, Trelleborg AB, Trinseo S.A., U.S. Rubber Corp., Veyance Technologies Inc.

What Are The Dominant Trends In Industrial Rubber Market Growth?
Major companies operating in the industrial rubber market are focusing on innovative products such as industrial rubber track to drive revenues in their market. Industrial rubber tracks are continuous, flexible belts made of rubber and steel that are used on a variety of tracked vehicles, such as bulldozers, excavators, and tractors.

How Is The Global Industrial Rubber Market Segmented?
1) By Rubber Type: Natural Industrial Rubber, Synthetic Industrial Rubber
2) By Processing Type: Injection Melding, Compression Melding, Extrusion, Others Processing
3) By Product: Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others Products
4) By Application: Automotive, Building and Construction, Industrial Manufacturing, Polymer Modification, Wire and Cable, Electrical and Electronics, Bitumen Modification, Coating, Sealant, and Adhesive, Medical and Healthcare, Others Applications

Geographical Insights: Asia-Pacific Leading The Industrial Rubber Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Industrial Rubber Market Definition
Industrial rubber refers to rubber used in manufacturing various rubber-related industrial products ranging from mining to power generation. These industrial rubber goods have different performance standards, including fluid resistance, conductivity, friction coefficient, permeation, and dynamic qualities. The form of rubber materials used during manufacturing influences the product's strength, durability, and capacity.

Industrial Rubber Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global industrial rubber market report covering trends, opportunities, strategies, and more
The Industrial Rubber Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on industrial rubber market size, industrial rubber market drivers and trends, industrial rubber market major players and industrial rubber market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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The Business Research Company
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