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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, January 22, 2021

Guill Tool & Engineering rolls out new website - click to expand

NovationSi and Zeon develop novel electrically conductive silicone compounds - click to expand

Hankook Tire selected as original equipment for Audi RS Q8 - click to expand

North America tire market forecast at $90 billion by 2025 - click to expand

Book of the day: Thermoplastic Elastomers - click to expand

Dunlop Motorcycle Tires announces price increase for U.S. and Canada - click to expand

Thursday, January 21, 2021

Bostik invests in joint venture with Cartell Chemical for development of engineering adhesives - click to expand

Bridgestone and NRGene announce sequence and assembly of guayule genome - click to expand

Freudenberg Medical expands U.S. molding operations - click to expand

Global silicone surfactants market forecast at $3.3 billion by 2026 - click to expand

Safic-Alcan further extends partnership with Arkema molecular sieves - click to expand

Cabot Corporation receives platinum rating for its sustainability efforts from EcoVadis - click to expand

Wednesday, January 20, 2021

GRI initiates phase 2 for the largest specialty tire plant in Sri Lanka - click to expand

Call for abstracts issued for 2021 International Elastomer Conference - click to expand

ExxonMobil introduces new Santoprene integrated thermoplastic vulcanizate - click to expand

Henkel expands collaboration with InterPRO for 3D application development - click to expand

Greenergy invests in advanced biofuels project - click to expand

German and International Rubber Conference 2021 postponed due to COVID-19 - click to expand

Tuesday, January 19, 2021

Wallace Instruments partners with ACE Products & Consulting LLC - click to expand

Lux Research names top five technologies disrupting the chemicals and materials industry - click to expand

Endurica named winner of the 2020 Tibbetts Award from the U.S. Small Business Administration - click to expand

Polyurethanes Technical Conference set to resume in Denver, CO, October 4 - click to expand

BKT renews its sponsorship for all competitions organized by Curling Canada - click to expand

Greenergy opts for Haldor Topsoe’s HydroFlex technology - click to expand

Monday, January 18, 2021

General Silicones announces solution for using hot-melt adhesives with silicone rubber - click to expand

Biesterfeld receives distribution rights for Denka acrylate rubbers - click to expand

Rubber Division, ACS, promotes rubber groups and technical organizations - click to expand

Apollo inaugurates specialized service center for tires in India - click to expand

TechnoBiz announces research webinar on Future Applications of Natural Rubber - click to expand

Harwick Standard announces retirement of Daniel Davis - click to expand

Market Reports

Rubber-internal mixer market will register a 0.3% CAGR through 2025 - click to expand

North America tire market forecast at $90 billion by 2025 - click to expand

Global silicone surfactants market forecast at $3.3 billion by 2026 - click to expand

Global Off the Road (OTR) Tire Market is expected to be around 4 percent through 2025 - click to expand

Global Automotive Tires Market to reach $575 billion by 2025 - click to expand

Global carbon black market is projected to expand at a CAGR of 4.4 percent through 2026 - click to expand

Global rubber gloves market size is expected to reach $22.1 billion by 2027 - click to expand

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