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Global Industrial Rubber Product Market Will Hit USD 36.41 Billion by 2024: Zion Market Research

2018-07-02

New York, NY, Aug. 14, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Industrial Rubber Product Market by Rubber Type (Natural Rubber and Synthetic Rubber) and by Application (Construction, Aerospace, Automotive and Transportation, Medical, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global industrial rubber product market was valued at approximately USD 26.75 billion in 2017 and is expected to generate revenue of around USD 36.41 billion by the end of 2024, growing at a CAGR of around 4.5% between 2018 and 2024. 
  
A rubber product deals with the transformation of elastomers into the useful products such as rubber mats, automobile tires, and others. The rubber used in the industrial products is naturally produced or sometimes it is the combination of complex chemical compounds. Rapidly growing automotive industry coupled with technological advancements in the industries is majorly responsible for propelling the growth of industrial rubber product market. Moreover, rising demand for the high-performance tires, tire adhesive, and sealing products are anticipated to add on to the growth of the industrial rubber market across the globe. Such factors are expected to fuel the demand for the industrial rubber product market growth over the forecast period.   

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