Industrial Rubber Products Market worth US$ 174 Bn by 2027
Industrial Rubber Products Market is projected to grow at CAGR of 6% during forecast period 2019 to 2027. Natural Rubber Held Major Share of Global Industrial Rubber Products Market
tmrJune 1, 2021
Global Industrial Rubber Products Market: Key Highlights
The global industrial rubber products market was valued at ~US$ 106 Bn in 2018, and is anticipated to expand at a CAGR of ~6% from 2019 to 2027. The demand for synthetic rubber has increased in industrial, automotive, and performance-demanding applications due to their unique properties.
In terms of volume, the automotive industry is a major consumer of industrial rubber products, which are used in various dynamic and static seals, belts, and hoses. Thus, rise in the demand for rubber products in various industries is driving the global industrial rubber products market.