Stratview Research has published a new report on the Industrial Rubber Market. According to the research, the market is set to witness steady growth during 2022-2027. The report on the market is segmented by Type (Natural Rubber, Synthetic Rubber), by Product Type (Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, and Others), by Application Type (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification, Coating, Sealant & Adhesive, Medical & Healthcare, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
This market research report provides thorough knowledge about the upcoming trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the Industrial Rubber Market.
Market Overview:
Industrial rubbers are majorly of two types i.e. synthetic rubber and natural rubber. Synthetic rubber is an elastomer, developed by the process of polymerization of unsaturated hydrocarbons from petroleum byproducts. It is more flame resistant as compared to natural rubber.
Industrial rubbers are most versatile and widely used products, in various applications, such as automotive, adhesives, buildings & construction, wire & cable, and medical & healthcare.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
According to the Industrial Rubber Market report, the market is likely to witness a moderate CAGR of 5.0% during the forecast period. The prime factor that is contributing to the demand for industrial rubbers is mainly the increasing usage of versatile materials in various applications, such as automotive, building & construction, medical & healthcare, coating, sealant & adhesives, and wire & cables.
What do we aim to solve with this report?
· By delivering concise and pertinent industry information & outlook, we aim to assist the stakeholders in navigating through the decision-making terrain.
· The report primarily aims at:
o Helping the user recognize innovative trends surrounding the Industrial Rubber Market.
o Finding out factors that assist the user in making practical business decisions.
o Highlighting the positive & negative influencers of the Industrial Rubber Market.
o Forecasting the sales, CAGR, and the dominant segments & sub-segments of the market.
o Analysing the key players/competitors in the market.
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Key players
Key players operating in the global Industrial Rubber Market are-
· Lanxess AG
· Sinopec
· Kumho Petrochemical Co., Ltd
· TSRC Corporation
· The Goodyear Tire and Rubber Company
COVID-19 Impact on Industrial Rubber Market
The COVID-19 outbreak has impacted the growth of several industries including the Industrial Rubber Market. This is mainly due to soaring coronavirus cases, implementation of stringent lockdown measures, and limited movement of people to curb the spread of the virus. Stringent government regulations on people gathering and traveling barriers have largely affected the demand for vehicles.
Critical Questions Answered in the Report
· What are the key trends in the Industrial Rubber Market?
· How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
· What is the impact of COVID-19 on the Industrial Rubber Market?
· What are the key strategies adopted by the major vendors to lead in the global Industrial Rubber Market?
· What is the market share of top vendors?
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