Market Size of Industrial Rubber Industry
| Study Period | 2018 - 2028 |
| Base Year For Estimation | 2022 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Rubber Market Analysis
The industrial rubber market is projected to register a CAGR of more than 4% during the forecast period.
The COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.
- The growth of the market is likely to be driven by the increasing use of industrial rubber in conveyors and transmission belts and the growing demand for high-pressure hoses from different end-user industries.
- On the other hand, strict rules about the environment are likely to slow the growth of the market that was studied.
- Further, the introduction of new manufacturing techniques to reduce hazardous waste is expected to create market opportunities in the future.
- The Asia-Pacific region dominated the market for industrial rubber, with India, China, and Japan representing major countries in terms of consumption.
