Industrial Rubber Products Market Research Report and Forecast Industrial Rubber Products Market - Global Industr

Industrial Rubber Products Market - Global
Industry Analysis, Size, Share, Growth, Trends,
and Forecast 2016 - 2024
Global Industrial Rubber Products Market: Snapshot
The global industrial rubber products market is poised to expand at a healthy rate
over the next few years, thanks to the growing application of industrial rubber
products, such as tire, hose, belts, and roofing, in the automotive, construction, and
the manufacturing industries. The significant growth in the automotive industry,
especially, is likely to influence the sales of these products in the near future. The
market is expected to proliferate at a CAGR of 5.80% between 2016 and 2024,
rising from US$47.7 bn in 2015 to US$79.5 bn by the end of 2024.
Although the market’s future looks thriving, the volatility in the prices of the raw
materials utilized in the manufacturing of industrial rubber and the overdependence
of suppliers on OEMs may obstruct the progress of this market over the forthcoming
years.
View Report @ http://www.transparencymarketresearch.com/industrial-
rubber-products.html
Mechanical Rubber Goods to Continue Witnessing Strong Demand
Mechanical rubber goods, rubber hose, rubber belts, and rubber roofing are the key
industrial rubber products available across the world. Among these, mechanical
rubber goods have been witnessing a stronger demand and are expected to remain
the leading contributor to this market over the next few years, thanks to the heavy
deployments of these goods in automobile vehicles. The increasing motor vehicle
output is the main factor behind the growing demand for mechanical rubber goods
across the world.
The demand for rubber roofing is also anticipated to be fueled in the years to come,
thanks to their increasing application in commercial and residential buildings and
other infrastructure. With the revival of the construction industry, the rubber roofing
segment is projected to experience a significant rise in the near future.
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