Global Industrial Rubber Products Market to Reach US$88.5 Billion by 2015, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Industrial Rubber Products markets. The global market for Industrial Rubber Products is forecast to reach US$88.5 billion by the year 2015. Factors driving growth include ease of processing and diverse applications of industrial rubber products, expansion of manufacturing sector, and ongoing efforts towards large-scale industrialization in developing markets. Further, high fixed investment expenditures and increasing levels of personal income are likely to impact the market growth.

Industrial Rubber Products: A Global Strategic Business Report

The worldwide industrial rubber products market witnessed a decline in 2009 because of the economic turmoil. During the recession period, the worldwide industrial sector received a huge setback that eventually resulted in significant drop in consumption of agricultural and industrial products made of rubber. Consumption of industrial rubber products witnessed a fall in various sectors such as construction, OEMs and replacement, household and appliances, aerospace, mining and forestry, and computer and office equipment. The demand for industrial rubber products is projected to grow substantially in the coming years driven by recovery and likely growth in economy, which is expected to infuse vigor into various end-use sectors. The demand is likely to be higher in developing regions. Market advancements would be driven by economic growth, expansion of manufacturing sector, increasing levels of personal income, high fixed investment expenditures, and ongoing efforts towards industrialization in developing world.

Asia-Pacific constitutes the largest as well as the fastest growing market for industrial rubber products worldwide, as stated by the new market research report on Industrial Rubber Products. Europe represents the second largest market. While US, and the EU represent saturated markets for the rubber industry, most of the activity in the industry is concentrated in the Asia-Pacific region. Majority of the world’s natural rubber is grown in the region, particularly Malaysia, India, Sri Lanka, Indonesia and Thailand. In addition, the region is witnessing huge investments in new plants for synthetic rubber. A significant portion of the global auto production is located in Asia-Pacific region, which is poised to lend a significant boost to demand for rubber-based products in the region in the coming years since automotive sector forms the largest consumer of rubber products. The industrial rubber products market in Asia-Pacific is forecast to flaunt a CAGR of more than 4.0% over the analysis period.

Mechanical Rubber Goods category constitutes the largest as well as fastest growing segment. Mechanical rubber goods are highly represented in the motor vehicle market. Demand for mechanical rubber goods that include wiper blades, vibration control products, body seals and a number of miscellaneous products is expected to witness increased demand led by the rebounding motor vehicle production. Rubber Hose and Belting represents the other prominent product category, accounting for more than 28% of the market.

Consolidation among various players and distributors in the industry represent a major trend that exerts a significant impact on the market. Mergers and acquisitions activity also gave rise to diversification in research and development costs, reallocation of global resources, and achieving economies of scale in procurement, manufacturing, distribution, and service. However, socio-economic factors and substitute products are the major factors impacting the market. Rubber is facing strong competition from thermoplastic elastomers, an innovative range of plastics. Thermoplastic elastomers command increasing usage in various industrial applications, which hitherto were the domain of rubber. These products offer a significant competition to thermoset rubbers, principally due to increased cost savings achieved during their processing. Due to their improved properties, these products are commanding enhanced applications in several consumer and industrial products sectors. Thermoplastic vulcanizate (TPV), a type of thermoplastic elastomer, is posing even larger threat to rubber. Super-TPVs are new range TPV’s that have the potential to replace cost-intensive thermoset rubbers in several demanding applications, such as industrial parts and automotive under-hoods, normally exposed to significantly high temperatures.

Major players profiled in the report include Bando Chemical Industries Ltd., Bridgestone Corporation, Carlisle Companies Incorporated, ContiTech AG, Cooper-Standard Automotive Inc., Delphi Corporation, Eaton Corporation, EnPro Industries Inc., Federal-Mogul Corporation, Freudenberg Group, JSJ Corporation, Meiji Rubber & Chemical Co. Ltd., Mitsuboshi Belting Ltd., Myers Industries Inc., Nichirin Co. Ltd., Parker-Hannifin Corporation, Sumitomo Rubber Industries Ltd., The Goodyear Tire & Rubber Company, The Yokohama Rubber Company Ltd., Tokai Rubber Industries Ltd., Total S.A., Toyo Tire and Rubber Co. Ltd., and Trelleborg AB, among others.

The report titled “Industrial Rubber Products: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the industrial rubber products markets, impact of recession on the markets, current market trends, competitive scenario, key growth drivers, product overview, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for industrial rubber products market for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key product segments analyzed include Mechanical Rubber Goods, Rubber Hose and Belting, and Other Industrial Rubber Products. Also, a six-year (2001-2006) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Industrial_Rubber_Products_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Email press(at)StrategyR(dot)com
Web Site http://www.StrategyR.com/

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