New York, Aug. 13, 2019 (GLOBE NEWSWIRE) -- The growth of the market is governed by various factors such as growing demand from automotive industry and government investment for eco-friendly rubber
The Industrial Rubber Market is expected to reach USD 38.31 Billion by 2026, according to a new report by Reports and Data.
Industrial rubber market is driven principally by the automotive industry. Industrial rubber is primarily used for making tires. Construction activities led by developing economies across the world will generate demand. The volatility of the oil prices, concerned government regulations and environmental concerns, lack of suppliers, and the growing threat of alternative are factors hindering the growth of the industry.
The North America region accounted for the second largest share of 30.3% of the market in 2018. The growing demand for fuel-efficient automotive parts due to environmental concerns and strict regulations is anticipated to drive growth in this region. In the United States, currently, 111 companies are working within the tire and rubber industry. When combined, they are accountable for more than 42,000 direct employment possibilities.
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Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this study, Reports and Data have segmented the market on the basis of Product Type, Type, End Users, Process, and region:
Product Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
Application Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
Process Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
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Regional Outlook (Revenue in USD Million; 2016–2026)
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