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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.

Thursday, October 17, 2019

Lanxess introduces a vulcanization accelerator for all types of rubber - click to expand

ARPM unveils training module: Job Setup and Production Flow - click to expand

Dow expands Nordel EPDM portfolio - click to expand

Center for the Polyurethanes Industry announces winner of the 2019 Polyurethane Award - click to expand

Goodyear declares quarterly dividend - click to expand

Wacker presents liquid and solid silicone rubber grades with enhanced product and processing properties - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Wednesday, October 16, 2019

K Show 2019 opens today in Dusseldorf - click to expand

Arlanxeo illustrates the future of mobility solutions at K2019 - click to expand

Gerlach opens office in Albuquerque, NM, to better serve North American market - click to expand

Huber Engineered Materials nearly completes Martinswerk expansion - click to expand

Hexpol TPE launches circular TPEs at K2019 - click to expand

Michelin introduces Endurance XT Silicone Beam wiper blade - click to expand

Adhesives and sealants market forecast to reach $73.8 billion by 2024 - click to expand

Tuesday, October 15, 2019

Michelin announces sport touring tire line-up for motorcycles and scooters - click to expand

Orion Engineered Carbons appoints Lorin Crenshaw chief financial officer of the Orion group - click to expand

Collaboration brings new colors to Dow’s 3D-printable liquid silicone rubber - click to expand

Mid Atlantic Rubber and Plastics Group holds educational symposium in November - click to expand

Global automotive mold market expected to grow at a CAGR of over 7 percent through 2024 - click to expand

Braskem's Delta PP plant remains on target for completion by first quarter of 2020 - click to expand

Monday, October 14, 2019

Cabot Corporation receives fourth consecutive gold-level rating from EcoVadis - click to expand

Yokohama Tire launches two new premium winter tires - click to expand

Dunlop SP Sport Maxx run-flat tire chosen as factory standard for Lexus LS - click to expand

Michelin recognized by EPA with 2019 SmartWay award - click to expand

Toyo Tire U.S.A. Corp. to promote Michael Graber to VP of Sales - click to expand

The Philadelphia Eagles and Braskem announce results from 2018-2019 STEM Scholars Program - click to expand

Friday, October 11, 2019

Thirth-three Cooper Standard facilities hosted Manufacturing Day events - click to expand

Falken introduces the WildPeak H/T02 for pickup trucks - click to expand

Yokohama UK wins NTDA Tyre Manufacturer of the Year 2019 award - click to expand

Michelin most fuel efficient line-haul tire now available to the replacement market - click to expand

Huntsman completes acquisition of remaining 50% interest in Sasol-Huntsman - click to expand

Christian Kohlpaintner appointed CEO of Brenntag - click to expand

Thursday, October 10, 2019

Global silicone elastomers market forecast with a CAGR of 6.2% through 2024 - click to expand

Cabot Corporation announces changes to executive leadership team - click to expand

Cooper Tire announces new Roadmaster steer tire - click to expand

Arkema completes the acquisitions of Prochimir and Lambson - click to expand

Benjamin Moore announces $32 million upgrade to its latex processing plant in Pell City, AL - click to expand

Market Reports

CPI survey reveals strength of polyurethanes across U.S., Canada and Mexico - click to expand

Global agricultural tire market forecast at $7.5 billion by 2024 - click to expand

Adhesives & sealants market forecast to reach $73.8 billion by 2024 - click to expand

Global automotive mold market is expected to grow at a CAGR of over 7% through 2024 - click to expand

Silicone surfactants market forecast to reach $2.5 billion by 2024 - click to expand

Global silicone elastomers market forecast with a CAGR of 6.2% through 2024 - click to expand

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