New York, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Cellular Rubber Market: Key Insights
According to our new research study on Cellular Rubber Market Size, Share, Revenue, Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Sheets, Rolls, and Others), Material (NBR, Neoprene, EPDM, Silicone, and Others), and End User (Automotive, Electronics, Aerospace, and Others).
| Report Coverage | Details |
| Market Size Value in | US$ 8,115.83 million in 2021 |
| Market Size Value by | US$ 10,884.41 million by 2028 |
| Growth Rate | CAGR of 4.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 159 |
| No. Tables | 84 |
| No. of Charts & Figures | 81 |
| Historical Data Available | Yes |
| Segments Covered | Product Type, Material and End User |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country Scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Cellular Rubber Market: Competition Landscape and Key Developments
A few of the prominent players operating in the global cellular rubber market are NDS-Seals, PANA Foamtec GmbH, ERIKS, Ridderflex, Polymax Ltd, Rogers Corporation, W. KÖPP GmbH & Co. KG, SEDO Chemicals Neoprene GmbH, Kautschuk- und Kunststoffteile GmbH, and Oskar Pahlke GmbH. These companies offer a broad product portfolio in the cellular rubber market. They have presence in the developing regions. Moreover, they are highly focused on developing high-quality and innovative products to fulfill the customer’s requirements.
Europe held the largest share of the global cellular rubber market in 2020. The growing automotive sector and aircraft manufacturing industry, and huge customer base are likely to fuel the demand for cellular rubber in the region. Cellular rubber is used in aerospace applications such as cockpit insulation, hold insulation, cable item line insulation, engine seals, internal lighting, and floor seal profiles.
Rising Demand from Automotive Sector Propels Cellular Rubber Market Growth:
In the automotive sector, cellular rubber is used for their sealing and shielding functions, and high compressibility. It is used in HVAC systems gaskets and seals; carburetor gaskets; noise, vibration, and harmonics pads; wiring harness gaskets; lighting gaskets (interior and exterior); antenna gaskets; and vehicle trunk and door sealers in automobiles. The growing preference for electric vehicles and the recovery of automotive industry from the adversities introduced by the COVID-19 pandemic by 2022 would further boost automobile production, which, in turn, would drive the demand for cellular rubber. Countries in Asia Pacific, especially in China, Japan, and India, are at the forefront of automobile production, which indicates significant potential for the cellular rubber market growth during the forecast period.
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Cellular Rubber Market: Segmental Overview
Based on product type, the cellular rubber market is segmented into sheets, rolls, and others. The sheets segment held the largest share of the market in 2020, and it is expected to register significant growth during the forecast period. The cellular rubber sheet is being increasingly used in industries such as automotive, aerospace, electronics, among others which is due to its ease of use as well as being an efficient insulator. Based on material, the cellular rubber market is segmented into nitrile butadiene rubber (NBR), neoprene, ethylene propylene diene monomer rubber (EPDM), silicone, and others. EPDM accounted for the largest share of the market in 2020. The EPDM cellular rubber is ideal for outdoor applications and confers a superior level of resistance against UV rays and ozone. NBR also accounted for a significant share of the global cellular rubber market in 2020. Based on end user, the cellular rubber market is segmented into automotive, electronics, aerospace, and others. The automotive segment accounted for the largest share of the market in 2020. In this industry, cellular rubber is used as sealing door and tubes. It is also used in the manufacturing of tires and for protecting vehicle body parts from extreme weather conditions. The aerospace segment is expected register a substantial CAGR in the cellular rubber market during the forecast period.
Impact of COVID-19 Pandemic on Cellular Rubber Market:
An interrupted supply of raw materials such as polyethylene and polypropylene, affecting production processes, has been a prime factor limiting the cellular rubber market growth during the COVID-19 pandemic. Additionally, a hike in crude oil prices have led to fluctuations in raw material prices, creating hurdles in the steady market growth. However, the cellular rubber market has witnessed a continuous demand from end-user industries such as automotive, construction, HVAC, and consumer goods. Moreover, as a part of economic recovery efforts, several sectors are strategically planning to invest in advanced and bio-based materials, such as cellular rubber, to address the growing need for environment friendly products. The automotive sector has started to gain momentum and is expected to witness significant growth in the coming years with the increasing sale of electric vehicles, eventually providing significant growth opportunities for the cellular rubber market players.
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Key Questions to Request for Cellular Rubber Market:
- Can you list some of the major players operating in the Global Cellular Rubber Market?
- What is the scope of cellular rubber in the global market?
- Based on material, what is the prospect of the EPDM segment?
- Based on end-user, what was the largest segment of the global cellular rubber market?
- What was the largest geographic region for the global cellular rubber market in 2020?
- What is the forecast outlook of electronics segment in the cellular rubber market?
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