The [FURL=https://www.industryarc.com/Report/15900/industrial-rubber-products-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]Industrial Rubber Products Market[/FURL] size is forecast to reach US$160 billion by 2026, after growing at a CAGR of 7% during 2021-2026. Natural rubber and synthetic rubber are often used in various end-use industries for applications such as belts, hoses, tubes, and bearings. The rapid growth in tire manufacturing has been contributing towards the industrial rubber products industry growth. In addition, there is a surge in the production of medical equipment, which as a result is increasing the demand for industrial rubber for the manufacturing of medical equipment.Key Takeaways
Asia-Pacific region dominates the industrial rubber products market, owing to the increasing automotive manufacturing in the region. For instance, according to Invest India, India is expected to be the world's third-largest automotive market in terms of volume, and it is estimated to reach US$300 billion by 2026.
Synthetic rubber is extensively used across various industries because it has a good heat resistance and heat aging quality, which is expected to aid towards the industrial rubber products market growth.
Industrial Rubber owing to its properties such as shockproof and moistureproof is widely used in the electronic and electrical industry, which will eventually drive the market growth.
Industrial rubber is widely used in anti-vibration mounts, which are extensively used in the construction industry to control the vibrations, as a result, the structure of the building becomes more stable.
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Industrial Rubber Products Market Segment Analysis – By Geography
The Asia-Pacific region held the largest share in the industrial rubber products market in 2020 up to 46%. There has been an increase in the production of automobiles, construction activities, the textile industry, food, and beverages industry across the Asia-Pacific, which is leading to the growth of the industrial rubber products market. According to the International Rubber Study Group (IRSG), Asia-Pacific is the largest consumer of natural rubber, and synthetic rubber as well, 77% of the world's synthetic rubber and 60% of the world's natural rubber.
Industrial Rubber Products Market Drivers
Rapid Development in the Construction Industry
Development in the Aerospace
Industrial Rubber Products Market Landscape
Major players of the industrial rubber product market are Bridgestone Corporation, Cooper Standard Inc., Continental AG, Freudenberg Group, The Goodyear Tire & Rubber Company, HEXPOL AB, Gates Corporation, NOK Corporation, Sumitomo Riko Company LTD., Eaton, Myers Industries, Inc., Yokohama Rubber Co., Ltd.
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