Higher capacity for suppression and reusability of rubbers make them an ideal raw material for almost every other industry in the world. The versatile applicability of industrial rubbers keeps raking in billions of dollars, and also manages to save loses worth millions. From aerospace to automotive, Persistence Market Research’s latest report on the global industrial rubber market highlights key end-uses of rubber products across multiple industries. The report reveals how years and years of surplus demand has led the global industrial rubber market towards its present value, which is estimated to be US$ 93,067.7 Mn. Much like the last decade, the global demand for industrial rubber is less likely to halt, and will bring in around US$ 167,935 Mn revenues by the end of 2026. During these years, the global market for industrial rubber has also been anticipated to soar at an impressive CAGR of 6.1%.
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Cushioning rough surfaces and controlling incidence of abrasion-based damages makes adoption of rubber solutions quite practical for industries. By the end of 2026, nearly 55 million metric tons of industrial rubber will be consumed across the globe. In the report, titled “Industrial Rubber Market: Global Industry Analysis and Forecast, 2016-2026,” Persistence Market Research has attributed the market’s growth to factors such as rising global construction output, soaring sales of industrial rubber through digital marketing, technological advancements improving large-scale production of industrial rubber, and effective application of industrial rubber in automotive as well as emerging industrial verticals.
Although, global consumption of industrial rubber will remain at the mercy of fluctuating raw rubber prices and stringent environmental regulations regarding production, use & disposal of rubber products. The report also highlights the downtrend in global demand for natural rubber products. In 2017 and beyond, industrial use of natural rubber is projected to slow down, procuring just over 37% of global market value. With respect to synthetic industrial rubbers, the global consumption of styrene butadiene rubber will be growing at 7% CAGR during the forecast period. Besides, the market is also likely to exhibit higher growth in demand for polybutadiene rubber, ethylene-propylene rubber and silicone rubber.
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List of Companies
- Bridgestone Corporation
- Goodyear Tire & Rubber Corporation
- Bando Chemical Industries, Ltd
- Trelleborg AB
- Eaton Corporation PLC
- Continental AG
- Yokohama Rubber Company Ltd.
- Parker-Hannifin Corporation
- Carlisle Companies Inc.
- Nichirin Co. Ltd.
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