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Industrial rubber market expected to reach $38.31 billion by 2026

  8/16/2019 - New York, NY - The industrial rubber market is expected to reach $38.31 billion by 2026, according to a report by Reports and Data. The industrial rubber market is driven principally by the automotive industry. Industrial rubber is primarily used for making tires. Construction activities led by developing economies across the world will generate demand. The volatility of oil prices, concerned government regulations and environmental concerns, lack of suppliers and the growing threat of alternatives are factors hindering the growth of the industry. The North America region accounted for the second largest share of 30.3 percent of the market in 2018. The growing demand for fuel-efficient automotive parts due to environmental concerns and strict regulations is anticipated to drive growth in this region. In the United States currently, 111 companies are working within the tire and rubber industry. When combined, they are accountable for more than 42,000 direct employment possibilities. Further key findings from the report suggest that the industrial rubber market is estimated to reach $38.31 billion by 2026, at a CAGR of 4.3 percent during the forecast period. The synthetic rubber type accounted for a larger share of 63.8 percent in 2018. The mechanical rubber goodd product type is anticipated to grow at the highest rate of 4.4 percent during the forecast period. The building and construction end user segment is anticipated to grow at the highest rate of 4.6 percent during the forecast period. Increasing construction activities in developing economies are also an essential factor enhancing the current demand. Several governments in Asia Pacific are investing in both public and private enterprises to support infrastructure in countries like India and China. Numerous airports, highways, metros and other smart city projects are initiated in these economies. These projects are assumed to increase demand during the forecast period in the Asia Pacific region. Demand for fuel-efficiency, lightweight vehicles and environmentally-friendly automotive parts also have been influencing the automotive industry in adopting eco-friendly industrial rubber. The Asia Pacific region accounted for the largest share of 31.3 percent in 2018. The industry is anticipated to witness increasing demand from India, China and other countries of the region. It is a leading region in terms of consumption and production of rubber. An emerging trend in this region is to manufacture bicycle and motorcycle tires. Many stakeholders are showing interest in the production of car and truck tires, and this is projected to overhaul the manufacturing of the motorcycle and bicycle tire businesses in the region. In economies such as Sri Lanka, India and Bangladesh, there is a substantial demand for automobiles used for industrial purposes. Various players are developing strategies to mark their presence in the industry. For instance, Midwest Industrial Rubber acquired New England Belting Company (NEBCO) on May 8, 2018. This acquisition has increased Midwest’s growth strategy for development and immediate access to new and untapped areas. The Key players in the industry include Sinopec, Lanxess, The Goodyear Tire and Rubber Company, ExxonMobil, Kumho Petrochemical, TSRC Corporation, Nizhnekamskneftekhim, JSR Corporation, LG Chem, Versalis S.P.A., Zeon Corporation, PetroChina, Sibur, Group Dynasol and Kraton Corporation.

Friday, February 28, 2020

VMI wins Tire Mnufacturing Innovation of the Year Award at Tire Technology Expo 2020 - click to expand

Arkema board of directors unanimously proposes renewal of the directorship of Thierry Le Hénaff - click to expand

Arburg Technology Days 2020 cancelled - click to expand

Goodyear and Skechers collaborate on footwear - click to expand

Book of the day - Rubber Molding Principles - click to expand

Eastman named Tire Industry Supplier of the Year - click to expand

Thursday, February 27, 2020

Warburg Pincus to invest $150 million in Apollo Tyres - click to expand

Dow Silicones hosts webinar on uses for liquid silicone rubber - click to expand

JEC World 2020 postponed from March 3 to May12 due to coronavirus concerns - click to expand

Cabot Corporation launches engineered elastomer composites solutions - click to expand

ACI's 5th Future of Surfactants Summit North America 2020 to be held in Boston - click to expand

Arkema commits to keeping global warming below 2°C - click to expand

Wednesday, February 26, 2020

Goodyear connected tires said to reduce lost stopping distance - click to expand

Cooper Tire and United Steelworkers Local 207L reach tentative agreement - click to expand

World Rubber Summit 2020 to be held May 4-6 in Abidjan, Ivory Coast - click to expand

International Elastomer Conference 2020 and 2021 space now being secured - click to expand

Trinseo tackles mobility challenges with functionalized polymers at Tire Technology Expo 2020 - click to expand

Birla Carbon App makes debut at Tire Technology Expo 2020 - click to expand

Tuesday, February 25, 2020

4Jet acquires tire inspection business of Hennecke Systems - click to expand

Rahco Rubber promotes Flores to engineering technician - click to expand

Greene Tweed uses flow and cure simulation technology - click to expand

Hehl and Keinath take over RepRap - click to expand

Bicycle bottle from Vaude runs on bio-based TPE from Hexpol - click to expand

Cooper Tire reports full year financial results - click to expand

Monday, February 24, 2020

Cooper Tire & Rubber declares its 192nd consecutive quarterly dividend - click to expand

ARPM releases State of the Rubber Industry report - click to expand

Siemens announces collaboration with McNeil & NRM on a digital twin of the Autolok tire curing press - click to expand

Entrepreneur names Big O Tires in top 100 of The Franchise 500 - click to expand

Engel opens subsidiary in Japan - click to expand

Goldsmith & Eggleton announces laboratory renovation - click to expand

Market Reports

Global lithopene market forecast with a CAGR of 4 percent through 2027 - click to expand

Silicone adhesives market forecast with a CAGR of 8.2 percent through 2025 - click to expand

Global injection molding materials market forecast at $239 billion by 2025 - click to expand

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