Industrial Rubber Products
Market
REPORT DESCRIPTION
Industrial Rubber Products Market Market - Global Industry Analysis
Size Share Growth Trends and Forecast 2016 – 2024
The competition in the global industrial rubber products market is moderate due to the presence of players
having almost identical share in the market and having a strong brand value. The main six companies operating
in the market are Continental AG, Hutchinson, Cooper Standard Automotive Inc., Freudenberg Group,
Sumitomo Riko Co. Ltd., and Bridgestone Corp. Together, they held over 63.0% of market share in 2015.
Some of the key strategies employed by the leading players in the global market for industrial rubber products
to improve their positions is looking out for acquisitions and partnerships to tap into new markets. This trend is
likely to intensify the competition in the next couple of years. The threat of external substitutes such as hard
plastics is moderate in the global market for industrial rubber products. Aspiring players need to invest
extensively in research and development and work hard to create a brand recall in order to gain a foothold in the
market.
A report by Transparency Market Research forecasts the global industrial rubber products market to rise at a
5.80% CAGR from 2016 to 2024 to attain a value of US$79.5 bn by 2024-end from US$47.7 bn in 2015.
Browse Market Research Report @ http://www.transparencymarketresearch.com/anti-caking-agent-for-
feed-fertilizer-market.html
Presence of Numerous Manufacturers to Help Asia Pacific Retain its Dominant Position
The different types of industrial rubber products available in the market are rubber horse, rubber roofing,
mechanical rubber goods, and rubber belts, among others. Among them, mechanical rubber goods accounted for
a maximum market share of 49.80% in 2015. Going forward, the TMR report predicts the segment to retain its
leading share owing to the rising usage of these goods in automobiles worldwide.
From a geographical perspective, the global industrial rubber products market is currently dominated by Asia
Pacific which is both a leading consumer and manufacturer. In 2015, Asia Pacific held a substantial 40.0% share
in the overall market. Going forward, the region is predicted to hold on to its dominant share on account of the
presence of numerous large rubber production facilities in the countries of China, India, Thailand, Indonesia,
and Malaysia.
Rising Incomes of People Drives Market
Transparency Market Research
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