Increasing Rubber Recycling Rate to Create Opportunities in Industrial Rubber Products Market from 2019 to 2027: TMR Study

Increasing Rubber Recycling Rate to Create Opportunities in Industrial Rubber Products Market from 2019 to 2027: TMR Study

PR Newswire

ALBANY, N.Y., Sept. 3, 2020

- Natural rubber segment and molded segment under the rubber and process categories respectively are set to contribute notably to growth in global industrial products market

- Lucrative opportunities will be created in the Asia Pacific (APAC) region over the forecast period owing to increasing exports and a favorable operation environment

ALBANY, N.Y., Sept. 3, 2020 /PRNewswire/ -- The global industrial rubber products market is set to grow at a CAGR of about 6% from 2019 to 2027. This will take the market worth up from approximately USD 106 billion in the year 2018 to about USD 174 billion by 2027. It is pertinent to note here that significant demand is arising from automotive industry and for performance demanding applications.

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As per Transparency Market Research, "A number of growth factors are responsible for growth in the global industrial rubber products market over the forecast period. A notable one is increase in construction volumes anticipated for the coming few years. It is a natural outcome of increase in disposable income and increasing global population that requires houses, offices and so on."

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Competitive Landscape of Global Industrial Rubber Products Market:

Top companies, operating in the fragmented vendor landscape of global industrial rubber products market and profiled by Transparency Market Research, are Parker Hannifin Corporation, Carlisle Companies Inc., Bridgestone Corporation, The Goodyear Tire & Rubber Company, Cooper Standard Holdings Inc., Continental AG, Eaton, Freudenberg Group, NOK CORPORATION, Yokohama Rubber Co. Ltd., Sumitomo Riko Company Limited, Delphi Technologies Plc, Hutchinson, Myers Industries Inc., Gates Corporation, and HEXPOL AB, among others. Profiling is inclusive of key developments, financial details, company description, and business overview.

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Global Industrial Rubber Products Market: Segmentation

Industrial Rubber Products Market by Rubber

Industrial Rubber Products Market by Process

Industrial Rubber Products Market by Product

Industrial Rubber Products Market by End-use Industry

Global Industrial Rubber Products Market by Region

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Stearates Market - The global Stearates market was valued at US$ 4,512.4 Mn in 2018 and is anticipated to expand at a CAGR of 5.5% during the forecast period. The market for stearates is driven by factors such as high demand for additives in the plastic & rubber processing industry coupled with rising demand for stearates in the building & construction industry. Stearates are used as lubricating, releasing and anti-caking agents in plastic processing. Stearates are also used as acid scavengers in plastic processing and compounding.

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Naphthenic Base Oil Market - The global naphthenic base oil market is segmented on the basis of viscosity index, application, and region. Under viscosity index, the market consists of five prominent segments viz. 35-60 SUS, 80-130 SUS, 200-300 SUS, 400-800 SUS, and above 1200 SUS. From these, the 35-60 SUS segment is expected to showcase a higher demand owing to low pour point and low temperatures, thus making the product type easier to handle.

Chlorinated Paraffins Market - The global chlorinated paraffins market is projected to grow at a CAGR of nearly 3.5% between 2019 and 2027. Growth in plastic and metalworking industries is primarily estimated to augment the global chlorinated paraffins market in the next few years. However, availability of application-specific substitutes and potential prohibition on the production and consumption in developed regions are projected to hamper market growth during the forecast period.

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