Global Industrial Rubber Products by Product and Market - Forecast to 2021: India to Register Faster Growth than All Other Major Markets - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 10, 2018--The “Global Industrial Rubber Products by Product and Market, 4th Edition” report has been added to ResearchAndMarkets.com’s offering.
Global demand for industrial rubber products is forecast to climb 6% per annum during the 2016-2021 period.
Advances in world motor vehicle and machinery production are expected to drive sales of rubber goods. Other factors contributing to global industrial rubber product demand gains include the expansion of world motor vehicle park, the development of new, top-of-the-line rubber goods, and rising industrial rubber product prices.
Outlook for Global Industrial Rubber Market to Improve Through 2021
Growth at the world level will be driven by rising motor vehicle and machinery output, and the expansion of global motor vehicle, heavy equipment, and industrial machinery stocks. A shift toward more expensive product types in developing nations, together with the development of new, high-end industrial rubber products for mature markets, will contribute to market gains as well.
China to Account for Two-Fifths of All New Global Product Demand
Sales of industrial rubber products in China, the world’s largest market, are projected to advance 8% annually through 2021 as its large transportation equipment, machinery, and other durable goods industries expand at an impressive pace, supported by additional inflows of foreign capital. A shift toward more expensive product types will fuel growth as well.
India to Register Faster Growth than All Other Major Markets
India’s industrial rubber products market is forecast to grow 10% per annum during the 2016-2021 period, causing product demand to increase by two-thirds. As shipments of motor vehicles and machinery, and India’s motor vehicle park, grow at a rapid pace through 2021, and construction spending increases considerably, sales of rubber goods will surge.
Sales of Rubber Goods for Industrial Equipment Applications to Increase Considerably
The large industrial equipment market for rubber goods is expected to account for more than half of all new product demand during the 2016-2021 period as global machinery output expands at a health rate, the worldwide stock of heavy equipment and industrial machinery grows considerably, and more sophisticated rubber products are developed for industrial equipment applications.
This industry study presents historical demand (2006, 2011, and 2016) and forecasts for 2021 by product (mechanical goods, hose, belts, and other industrial rubber products) and by market (industrial equipment, motor vehicle OEM, motor vehicle aftermarket, and other markets).
The study also analyzes the structure of the global industrial rubber products industry and presents company market share in dollar terms for the world’s leading suppliers, including:Continental Cooper-Standard Federal-Mogul Freudenberg Gates NOK Sumitomo Electric Total Toyoda Gosei Trelleborg
For more information about this report visit https://www.researchandmarkets.com/research/cth5np/global_industrial?w=4
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INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS AUTOMOTIVE TIRES & RUBBER
SOURCE: Research and Markets
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PUB: 10/10/2018 05:15 AM/DISC: 10/10/2018 05:15 AM