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World Industrial Rubber Products Demand To Grow By 4.5 Percent

4/12/2010 - Global demand for industrial rubber products is forecast to climb 4.5 percent annually through 2013 to nearly $110 billion, according to a study conducted by The Freedonia Group. Market advances in developing areas will be fueled by healthy economic growth, ongoing industrialization efforts and rising personal income levels, bolstering manufacturing output and fixed investment expenditures. In addition, higher living standards will help stimulate demand for automobiles and other industrial rubber product-containing durables, boosting both original equipment (OEM) and maintenance/repair/operations (MRO) industrial rubber product sales. Mechanical rubber goods, which include body seals, vibration control products, wiper blades and a variety of miscellaneous goods such as bellows, bumpers, duct covers, mallets, pads, plates and trim, comprised the largest product segment in 2008. Suppliers of mechanical rubber products will benefit from continued gains in motor vehicle production through 2013, as these products are highly represented in this market. Industrial equipment, which includes industrial machinery and equipment, as well as off-road vehicles, will continue to comprise the largest end-use market in 2013. Demand in this market will benefit from rising demand for heavy industrial equipment such as construction and mining machinery. China, which recently surpassed the U.S. to become the largest national market for industrial rubber products, will account for over 40 percent of all additional demand through 2013. India will also record strong gains, and sales growth is expected to be healthy as well in a number of lower-volume markets, including Thailand and Indonesia. Advances will continue to be solid in Eastern Europe, reflecting the ongoing shift of durable goods manufacturing to that region, primarily from Western Europe. Industrial rubber product demand in the U.S., Western Europe and Japan will rise, as well. Advances will be spurred by largely favorable economic climates and higher per capita income, resulting in increased manufacturing activity and consumer spending for durable goods. Although representing mature markets, these areas, along with Australia and Canada, will remain the most intensive users of industrial rubber products because of the advanced industrial and technological nature of their economies. The large numbers of industrial rubber product-containing equipment in use will also help bolster aftermarket industrial rubber product demand. This new Freedonia industry study, World Industrial Rubber Products, is priced at $5,800. It presents historical demand data (1998, 2003, 2008) plus forecasts for 2013 and 2018 by type (e.g., mechanical goods, hose, belts, roofing), market (e.g., industrial equipment, motor vehicles, construction), world region and for 27 countries. The study also considers market environment factors, evaluates company market share and profiles over 30 industry players, including Cooper-Standard Automotive, Bridgestone and Veyance Technologies.

The Freedonia Group
www.freedoniagroup.com

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