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Industrial rubber products market forecast to reach $174 billion by 2027

  1/14/2020 - Pune, India - Transparency Market Research's market report for industrial rubber products forecasts a 6 percent CAGR during the period 2019-2026, with a market value estimated to reach $174 billion by 2027. Innovations in synthetic rubber are triggering growth for the industrial rubber products market. As such, styrene butadiene rubber is anticipated to dominate the global industrial rubber products market with the second-highest production among all rubber types, estimated to reach an output of ~7,500 kilo tons by the end of 2027. Hence, manufacturers are innovating new synthetic rubber solutions to improve tire technology. For instance, in March 2019, Trinseo, a provider of chemical material solutions, revealed that, the company is presenting a new grade of multifunctionalized styrene butadiene rubber tires at a trade fair in Germany. The growth of the SUVs and light trucks market has triggered the demand for multifunctionalized tires. Manufacturers in the industrial rubber products market space are increasing their efficacy in the production of multifunctionalized synthetic tires, since these offer excellent mechanical properties and increased fuel efficiency. Multifunctionalized tires are gaining widespread application in the automotive industry, since they overcome the challenges of physical stability and safety better as compared to conventionally-made tires. The easy-to-process attribute of multifunctionalized synthetic tires is boosting the manufacturing capabilities of companies in the industrial rubber products market space. The demand for industrial rubber products is largely dependent on innovations in auto components and motor vehicle output. Likewise, the automotive industry is estimated to account for the highest usage of industrial rubber products among all the end-use industries, predicted to consume ~30,700 kilo tons by 2027. The growing demand from the automotive industry and rise in application of rubber products in various end markets have triggered growth for the industrial rubber products market. Increased adoption of autonomous and battery vehicles is another driver for the growth of the industrial rubber products market. The demand for synthetic rubber types is projected to be on the rise due to the introduction of nano technology. This trend might hamper the demand for natural rubber. Despite technological innovations, natural rubber is predicted for high revenue growth, and dominates the industrial rubber products market in terms of high value and volume. Manufacturers are tapping into opportunities with the growing preference for nitrile latex in medical glove production. Companies in the industrial rubber products market are focusing on expanding their business in Asia Pacific. This is because Asia Pacific is projected to progress rapidly in terms of market volume share, from a record of ~40 percent in 2018 to ~47 percent by 2027. Moreover, China, India and Indonesia are rapidly expanding in the industrial rubber products landscape, owing to the easy availability of raw materials and labor. Due to favorable government tax incentives and subsidies, low-cost destinations in Asia Pacific are attracting major rubber recyclers to set up their manufacturing base. Automobile giants are increasing the penetration of motor vehicles in rural areas of developing countries in Asia Pacific. Burgeoning increase in construction and infrastructure activities, owning to low labor and operating costs, are catalyzing market growth in Asia Pacific. Likewise, increasing exports of rubber products and rubber-canvas footwear from India are boosting overall revenue growth of the Asia Pacific region. Stringent government regulations in the industrial rubber products market have given rise to the widespread application of reclaim rubber. As stakeholders in various end markets are becoming increasingly aware about the repercussions of scrap rubber ending up in landfills, and also due to fluctuating oil prices, they are using reclaim rubber over synthetic rubber. Unique properties of reclaim rubber such as excellent versatility and durability are making it a popular choice among manufacturers in the industrial rubber products ecosystem. Reclaimed rubber is also associated with reduced processing costs and easy availability of raw materials, which makes it a cost-efficient option for manufacturers in the industrial rubber products market. Easy availability of waste tires and the advent of recyclable materials are triggering the demand for reclaim rubber. However, innovative elastomer-based products pose a threat to reclaim rubber; although, elastomer is associated with very weak intermolecular forces and high failure strain as compared to rubber. Hence, manufacturers should increase the availability of industrial rubber products with high intermolecular forces and low failure strain for the construction and automotive sectors.

Tuesday, January 21, 2020

Kraiburg TPE introduces Thermolast K flame retardant TPE series - click to expand

Minnesota Rubber and Plastics awarded 2019 Medtronic Supplier Excellence Award - click to expand

Greene, Tweed appoints William Rottschaefer as director of business development - click to expand

Synthomer receives European Commission clearance for Omnova acquisition - click to expand

Ashland to report first quarter results January 27 - click to expand

Global RTV silicone market to grow at a CAGR of 4.13 percent through 2029 - click to expand

Monday, January 20, 2020

Freudenberg finalizes acquisition of Filc - click to expand

Goodyear selects VI-grade driving simulators to increase product development capabilities - click to expand

Silicone rubber power cable market forecast at $1 billion by 2025 - click to expand

Sumitomo Rubber establishes a natural rubber procurement subsidiary in Singapore - click to expand

Soo II Lee assumes role of president of Hankook Tire America - click to expand

Milliken & Company to acquire Borchers from The Jordan Company - click to expand

Friday, January 17, 2020

Global reactives and other adhesives market forecast at $19.8 billion by 2023 - click to expand

Borealis to acquire Nova Chemicals' ownership interest in Novealis - click to expand

Goodyear declares quarterly dividend of 16 cents per share - click to expand

Global liquid silicone rubber market is forecast to reach $1.82 billion by 2025 - click to expand

Book of the Day - Rubber Extrusion Technology Short Course Notes - click to expand

BFGoodrich returns to the farm tire market - click to expand

Thursday, January 16, 2020

ADM and P2 Science collaborate on plant-based specialty chemicals and materials - click to expand

Isoprene rubber latex market forecast to reach $367.8 billion by 2026 - click to expand

Evonik opens multi-purpose silicones manufacturing facility in Germany - click to expand

Global automotive adhesive market expected to expand at a CAGR of 5.4 percent - click to expand

Solvay’s HMW HALS capacity now online - click to expand

Cabot Corporation declares quarterly dividend of $0.35 per share - click to expand

Wednesday, January 15, 2020

McMaster University researchers find way to dissolve rubber used in car tires - click to expand

Albright Silicone announces launch of 3D printing capability for silicone parts - click to expand

Injection molding machine market size forecast at $38.7 billion by 2026 - click to expand

Safic-Alcan announces distribution agreement with Evonik in Greece - click to expand

Asia-Pacific process oil market forecast with a CAGR of 4.23 percent through 2027 - click to expand

Tuesday, January 14, 2020

Safic-Alcan extends distribution agreement with Eurotec in Poland - click to expand

Rahco Rubber adds two Pan Stone 350 ton vacuum presses - click to expand

Registration and housing open for Rubber Division, ACS 197th Technical Meeting - click to expand

Industrial rubber products market forecast to reach $174 billion by 2027 - click to expand

Automotive tubeless tires market forecast at $196 billion by 2024 - click to expand

Market Reports

Global conductive silicone market forecast at $3.8 billion by 2025 - click to expand

Global reactives and other adhesives market forecast at $19.8 billion by 2023 - click to expand

Global tire pressure monitoring system market to surpass $8 billion by 2026 - click to expand

Asia-Pacific process oil market forecast with a CAGR of 4.23 percent through 2027 - click to expand

Global automotive adhesive market is expected to expand at a CAGR of 5.4% - click to expand

Global RTV Silicone Market to grow at a CAGR of 4.13% through 2029 - click to expand

Silicone rubber power cable market forecast at $1 billion by 2025 - click to expand

Global liquid silicone rubber market is forecast to reach $1.82 billion by 2025 - click to expand

Isoprene Rubber Latex market forecast to reach $367.8 billion by 2026 - click to expand

Injection molding machine market size forecast at $38.7 billion by 2026 - click to expand

Industrial rubber products market forecast to reach $174 billion by 2027 - click to expand

Global Specialty Silica Market is expected to grow at a CAGR of 6.18 percent through 2025 - click to expand

Automotive tubeless tire market forecast at $196 billion by 2024 - click to expand

Farm Tire Market to reach $10 billion by 2025 - click to expand

Global liquid silicone rubber market forecast with a CAGR of 8% through 2025 - click to expand

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