Industrial rubber demand is majorly driven by East Asia, with rising demand from automobile applications the deciding factor. Growing production facilities with strong end-user consumption will bolster overall demand for industrial rubber even further over the coming years.
The automobile & transportation industry is set to increase demand for industrial rubber, reveals Fact.MR, in the recently published report on this market. As per the report, the industrial rubber market is anticipated to reach nearly US$ 110 Bn valuation in 2030, expanding at a CAGR of more than 5% over the forecast period of 2020 to 2030.
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A recent study by Fact.MR on the industrial rubber market offers a 10-year forecast for 2020 to 2030. The study analyzes crucial trends that are currently determining the growth of the market.
This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with the production of industrial rubber.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.
A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies operating in the industrial rubber market, along with their product portfolios, enhances the reliability of this comprehensive research study.
The industrial rubber industry is highly fragmented in nature due to the presence of numerous small- to medium-sized players. These players occupy nearly seven-tenth of the market share from all regions. Fragmented markets usually have the highest competition among players, which leads to the espousal of more strategies in the market.
Players in the regions of East Asia and North-America are implementing price strategies to strengthen their regional dominance. For instance, players such as Zeon Corporation, Ube Industries, Ltd., and Sumitomo Chemical Co. Ltd. in the markets of East Asia are dominating the global market by producing industrial rubber at lower cost which ultimately leads to cost competency in the global market.
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