Global Industrial Rubber Products Market Anticipates to Rise at 5.5% CAGR by 2025

The global industrial rubber products market players are expanding their portfolios across other countries to rise in the market. According a report by Transparency Market Research, the companies in the market are reducing their dependency on automotive sector. Manufacturers are shifting to synthetic rubber from natural rubber due to irregular supply and high price. Manufactures are engaging in research and development to cater the demands of their consumers. The major players have adopted various strategies such as acquisitions, partnerships, joint ventures, expansions, agreements, product launches and others so as to expand their horizon in the market.  Some of the key players in the global industrial rubber products market are Yokohama Rubber CO., Ltd., Cooper Standard Inc., Bridgestone Corporation, Freudenberg Group, Continental AG, HEXPOL AB, The Goodyear Tire & Rubber Company, NOK CORPORATION, Gates Corporation, Eaton, Sumitomo Riko Company Limited, and Myers Industries, Inc.

The global industrial rubber products market is expected to grow at a healthy CAGR of 5.5% during the forecast period of 2017 to 2025. According to product type, the global industrial rubber products market is leading by mechanical goods. It is dominating the market as it held 50% of the share in the market during 2016. It is expected to rise significantly during the forecast period. Asia Pacific among all other regions is leading the market. It held one third of the shares in market during 2016 and is expected to lead the market during the forecast period.

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