Industrial Rubber Products Market: Rise in Construction and Automotive Sector to Influence Market’s Growth 2024

The global industrial rubber products market is defined by the presence of equally balanced competitors with strong brands value, finds a research study by Transparency Market Research (TMR). The market exhibits a highly concentrated structure. The top six players in this market, namely, Continental AG, Hutchinson, Freudenberg Group, Cooper Standard Automotive Inc., Sumitomo Riko Co. Ltd., and Bridgestone Corp., accounted for more than 63% of the overall market in 2015. The leading companies are focusing aggressively on acquisitions and strategic partnerships, which is likely to increase the competition within the market over the next few years, notes the study.

According to the research report, the global market for industrial rubber products will be proliferating at a CAGR of 5.80% over the period of 2016-2024 with the opportunity in this market increasing from a value of US$47.7 bn in 2015 to US$79.5 bn by the end of the forecast period. Mechanical rubber goods have surfaced as the most valued product in this market. Analysts expect this trend to remain same over the forthcoming years due to the increasing usage of these goods in automobiles across the world.

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Demand for Industrial Rubber Products to Remain Stronger in Automotive Sector

In this report, the construction, automotive, and the aerospace industries have been considered as the prime end users of industrial rubber products, among which, the most prominent demand for these products is being registered by the automotive sector. The widespread application of these products in the interiors, under the hood, and the overall structure of automobiles is expected to maintain the position of the automotive industry as the key end user of industrial rubber products over the next few years.

The report further presents a geographical assessment of the worldwide industrial rubber products. According to it, North America, the Middle East and Africa, Latin America, Europe, and Asia Pacific are the main regional markets for industrial rubber products across the world. Amongst all, Asia Pacific acquired the leading position in 2015 with a share of 40% in the overall market. Researchers predict this regional market to remain on top throughout the forecast period, thanks to the presence of a massive pool of large-sized rubber production facilities in a number of Asian economies, such as India, China, Thailand, Malaysia, and Indonesia.

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Urbanization and Industrialization Playing Crucial Role in Increasing Demand for Industrial Rubber Products

“The rapid urbanization, strengthening economy, and the ongoing efforts towards industrialization have influenced the global market for industrial rubber products significantly,” says a TMR analyst. With the rising construction activities to cater the requirements created by urbanization and industrialization across the world, the demand for industrial rubber products is likely to increase substantially in the near future.

The steady growth in production of motorcycles and bicycles, fueled by the rising trend of owning a vehicle among consumers is also projected to boost the worldwide market for industrial rubber products over the next few years. However, the volatile nature of the raw material prices and the increasing import penetration and decreasing demand from transportation equipment manufacturing are likely to affect the market severely during the forecast period, states the research report.

Oil and Gas Pipeline Leak Detection Equipment Market Driven by Stringent Government Regulations

Although renewable resources of energy have gained substantial popularity in the recent past, there is no foreseeable limitation to the escalating demand for oil and gas, with the growing population and rapid urbanization. Consequently, the demand in the global market for oil and gas pipeline leak detection equipment is projected for a robust CAGR of 6.8% during the forecast period of 2016 to 2024, according to a recent report by Transparency Market Research (TMR). As per the estimations of the TMR report, the global oil and gas pipeline leak detection equipment market will be worth US$3.65 bn by the end of 2024, significantly up from its evaluated valuation of US$2.02 bn in 2015. Some of the key factors augmenting the demand in the oil and gas pipeline leak detection equipment market are: development and expansion of existing pipelines and construction of new pipelines, increasing incidents of oil and gas leakages in pipeline and storage tanks at production facilities, and

Welding Products Market Growth in Wind Power Sector to Create Opportunities, TMR

The global welding products market is moderately fragmented with the key players such as Lincoln Electric, ESAB, and ITW leading in the market. These three players accounted for a collective share of 30% in 2013, states a new report by Transparency Market Research (TMR). This market is capital intensive and thus, local vendors find it difficult to compete with the larger players. Local players are unable to compete with large players on the basis of quality, services, functionalities, and features. Thus, these small players are entering into the market by introducing products that are low in price. Some of the players operating in the welding products market are: Voestalpine AG, Sonics & Materials Inc., Fronius International GmbH, Rofin-Sinar Technologies Inc., Arcon Welding, Bohler, Panasonic, Daihen Corp, and OBARA Co. In order to increase their production capacities and focus on innovations, companies are adopting the strategy of merging or acquiring other players. Acco

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @ http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi

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