Industrial Rubber Products Market To Reach Us$ 79,565.64 Mn By 2024 | TMR | Page 2

Industrial Rubber Products Market
REPORT DESCRIPTION
Industrial Rubber Products Market (Rubber Type - Natural Rubber,
Styrene Butadiene Rubber, Polybutadiene, Ethylene-propylene, and
Nitrile Butadiene Rubber; Product - Mechanical Rubber Goods,
Rubber Hose, Rubber Belts, and Rubber Roofing; Technology - Tire
Manufacturing, Tube Manufacturing - Global Industry Analysis, Size,
Share, Growth, Trends, and Forecast 2016 – 2024
The global industrial rubber products market is defined by the presence of equally balanced
competitors with strong brands value, finds a research study by Transparency Market Research
(TMR). The market exhibits a highly concentrated structure. The top six players in this market,
namely, Continental AG, Hutchinson, Freudenberg Group, Cooper Standard Automotive Inc.,
Sumitomo Riko Co. Ltd., and Bridgestone Corp., accounted for more than 63% of the overall market
in 2015. The leading companies are focusing aggressively on acquisitions and strategic partnerships,
which is likely to increase the competition within the market over the next few years, notes the study.
According to the research report, the global market for industrial rubber products will be proliferating
at a CAGR of 5.80% over the period of 2016-2024 with the opportunity in this market increasing from
a value of US$47.7 bn in 2015 to US$79.5 bn by the end of the forecast period. Mechanical rubber
goods have surfaced as the most valued product in this market. Analysts expect this trend to remain
same over the forthcoming years due to the increasing usage of these goods in automobiles across
the world.
Browse Market Research Report @
http://www.transparencymarketresearch.com/industrial-rubber-products.html
Demand for Industrial Rubber Products to Remain Stronger in Automotive Sector
In this report, the construction, automotive, and the aerospace industries have been considered as
the prime end users of industrial rubber products, among which, the most prominent demand for
these products is being registered by the automotive sector. The widespread application of these
products in the interiors, under the hood, and the overall structure of automobiles is expected to
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Transparency Market Research