Rubber sheets are rubber that are moulded into flat sheets with an even thickness and are often sold on a roll of a specific length for easy handling. Once the material type is known, tools designed to cut through the rubber are used to cut different shapes from the sheet to form gaskets. The gaskets cut from rubber sheeting keep fluids and gases from penetrating products or keep them contained within vessels or low-temperature mechanical systems.
The Automotive and Transportation segment was accounted for 41.9% share of the global industrial rubber market in 2016 and is expected to be a highly attractive segment in terms of CAGR and market share during the forecast period. The Industrial Machinery and Equipment segment is also anticipated to create substantial incremental opportunity during the forecast period due to the increasing use of rubber in conveyor belts and other belting applications in agriculture and construction machinery. The segment is estimated to account for 26.7% share of the global market by end of 2023.