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Industrial Rubber Market Size Worth US$ 34.78 Billion by 2027 | CAGR of 3.85%

Industrial Rubber Market

Industrial Rubber Market

SHERIDAN, WYOMING, UNITED STATES, November 23, 2022 /EINPresswire.com/ -- IMARC Group’s latest report, titled “Industrial Rubber Market Report: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global industrial rubber market reached a value of US$ 27.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 34.78 Billion by 2027, exhibiting a CAGR of 3.85% during 2022-2027.

Industrial rubber is a natural polymer of isoprene that is derived from the latex sap of various plants. It provides superior sealing and insulation and is hence used in the manufacturing of hoses, belts, matting, flooring, and medical gloves. It offers numerous advantages, including tear resistance, compression set, abrasion resistance, tensile modulus, elongation, hardness, and strength to the end product. It is widely available in different types, including large sheets and rolls that can be conveniently cut into desired shapes and sizes. As a result, it is extensively used in numerous industries, such as mining, paper, automotive, buildings and construction, power generation, and agriculture, due to its excellent properties, including elasticity, resilience, and toughness.

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Industrial Rubber Market Trends:

Significant growth in the manufacturing industry is driving the global market. Along with this, the increasing construction activities and the rising demand from the automotive industry is fuelling the market. Moreover, the widespread adoption of electric vehicles (EVs) on account of the growing environmental concerns among individuals and the imposition of stringent emission regulations by regulatory authorities are contributing to the overall demand for industrial rubber. Furthermore, the increasing investments by the government of several countries in the development of airports, metros, highways, and numerous smart city projects, are impacting the market growth favorably. The market is further driven by other factors, such as rapid industrialization and extensive research and development (R&D) activities.

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Competitive Landscape with Key Players:

• Asahi Kasei Corporation
• Braskem
• Bridgestone Corporation
• Denka Company Limited
• Lanxess AG
• LG Chem Ltd
• The Goodyear Tire and Rubber Company
• Trinseo PLC
• TSRC Corporation
• UBE Corporation
• Yokohama Rubber Co. Ltd
• Zeon Corporation

Key Market Segmentation:

Breakup by Type:

• Natural Rubber
• Synthetic Rubber

Breakup by Product:

• Mechanical Rubber Goods
• Rubber Hose
• Rubber Belt
• Rubber Roofing
• Others

Breakup by End Use Industry:

• Automotive
• Construction
• Manufacturing
• Electrical and Electronics
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
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