SOURCE: Radiant Insights, Inc.

Radiant Insights, Inc.

May 12, 2016 05:30 ET

China Industrial Rubber Products Market Growth, Trends and Forecast Report: Radiant Insights, Inc

SAN FRANCISCO, CA--(Marketwired - May 12, 2016) - Worldwide China industrial rubber products market will expand at a healthy CAGR over the coming years. Increasing need for industrial rubber products coupled with growing population is driving the market. Also, rising urbanization and disposable income along with automotive sales globally is positively affecting the global industry. Industrial rubber products comprise two stages. Firstly, the rubber is produced, either from petroleum product or natural rubber. Second stage involves rubber produced in the form of finished goods.

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The worldwide industry is widely categorized into products and geographies. On the basis of products, the market is split into conveyor belts, footwear, tires, gaskets, sealing products and hoses. Tires dominate the global industry. Tires are majorly used in automobiles, bicycles, aircrafts and trucks. Molding is the key process in production of tires. Rising demand for high-performance tires, tire adhesive and sealing products is anticipated to contribute in market development. Although, limited number of suppliers, volatile oil prices and rising threat from substitutes are few factors hindering the market growth.

Region wise, the industry is majorly divided into Asia Pacific, North America, Europe, Japan, Eastern Europe and MEA. In terms of revenue, North America dominated the worldwide market in 2015. Europe followed North America; In addition, Japan & Asia Pacific is likely to grow at a significant rate exhibiting a healthy CAGR over the forecast period (2015 -2025)

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Asia Pacific is the major producer and consumer of industrial rubber driving the china industrial rubber products market. Furthermore, it is mainly owing to rising growth of tire sector in the region. Also, manufactures have shifted their production facilities to developing economies owing to low operating and labor costs.

Key market players in industrial rubber products market are Greenville Industrial Rubber & Gasket Co, Bridgestone Corp, Goodyear Tire and Rubber Company,, Continental AG and Yokohama Rubber Company Ltd.

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