The automotive sector was the largest contributor in terms of revenue in 2019 and is projected to maintain its leadership with the fastest CAGR of 6.0%.

WILMINGTON, DE, UNITED STATES, September 19, 2024 /EINPresswire.com/ -- The global industrial rubber market is experiencing significant growth, driven by increased demand from the automotive industry and a rise in construction activities worldwide. According to Allied Market Research, the market was valued at $31.3 billion in 2019 and is projected to reach $44.6 billion by 2026, with a compound annual growth rate (CAGR) of 5.2% from 2019 to 2026.

Market Overview

- Market Size & Growth: The global industrial rubber market is expanding, with a notable CAGR of 5.2% anticipated through 2026.
- Regional Insights: Asia-Pacific is expected to capture over one-third of the market share and exhibit the highest growth rate, with a CAGR of 5.8% from 2019 to 2026. This growth is attributed to the expansion of manufacturing capabilities in China, India, and Japan.
- Market Drivers: The key factors fueling market growth include surging demand from the automotive sector and increasing construction activities globally.
- Challenges: Fluctuating raw material costs pose a challenge to market growth, although technological advancements offer new opportunities.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/6276

Segment Analysis

- By Type: The synthetic rubber segment dominated in 2019, holding more than 60% of the market share, and is expected to continue its lead with a CAGR of 5.7%. Synthetic rubber’s superior abrasion resistance compared to natural rubber contributes to its dominance.
- By End-Use Industry: The automotive sector was the largest contributor in terms of revenue in 2019 and is projected to maintain its leadership with the fastest CAGR of 6.0% from 2019 to 2026. Other analyzed segments include construction, electrical & electronics, manufacturing, and more.

Key Market Players

The report highlights major players in the market, including:

- Sinopec Corporation
- The Goodyear Tire & Rubber Company
- LG Chem Ltd.
- Bridgestone Corporation
- Toyo Tire & Rubber Co., Ltd.
- Arkema S.A.
- Lotte Chemical Corporation
- Celanese Corporation
- Braskem S.A.
- United Rubber Industries India Private Limited

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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