Industrial Rubber Products Market Foreseen to Grow Exponentially by 2027

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Industrial Rubber Products Market

• Global Industry Analysis, Size, Share, Growth,
  Trends and Forecast, 2027

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Multifunctionalized Synthetic Tires Improve Fuel
Efficiency in SUVs and Light Trucks

• Innovations in synthetic rubber are triggering
  growth for the industrial rubber products market.
  As such, styrene butadiene rubber is anticipated
  to dominate the global industrial rubber products
  market with the second-highest production amongst
  all rubber types, estimated to reach an output of
  7,500 kilo tons by the end of 2027.
• Hence, manufacturers are innovating
  new synthetic rubber solutions to improve tire
  technology.
• For instance, in March 2019, Trinseo - a provider
  of chemical material solutions, revealed that,
  the company is presenting a new grade of
  multifunctionalized styrene butadiene rubber
  tires at a trade fair in Germany.

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Industrial Rubber Products Projected for
Exponential Growth in Automotive and End Markets

• The demand for industrial rubber products is
  largely dependent on innovations in auto
  components and motor vehicle output.
• Likewise, the automotive industry is estimated
  to account for the highest usage of industrial
  rubber products among all the end-use industries,
  predicted to consume 30,700 kilo tons by 2027.
• The growing demand from the automotive industry
  and rise in application of rubber products in
  various end markets have triggered growth for the
  industrial rubber products market.
• Increased adoption of autonomous and battery
  vehicles is another driver for the growth of the
  industrial rubber products market.

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Favorable Operation Environment and Increasing
Exports Boosting Incremental Opportunities in
Asia Pacific

• Companies in the industrial rubber products
  market are focusing on expanding their business
  in Asia Pacific. This is because Asia Pacific is
  projected to progress rapidly in terms of market
  volume share, from a record of 40 in 2018 to
  47 by 2027. 
• Moreover, China, India, and Indonesia are rapidly
  expanding in the industrial rubber products
  landscape, owing to the easy availability of raw
  materials and labor.
• Due to favorable government tax incentives and
  subsidies, low-cost destinations in Asia Pacific
  are attracting major rubber recyclers to set up
  their manufacturing base.

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Top Players Account for Major Market Share

• Yokohoma Rubber Co., Ltd.
• acquired Aichi Tire Industry

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