Global Industrial Rubber Product Market to Grow 5.8% Annually to 2016

The report ‘World Industrial Rubber Products: Forecasts for 2016 & 2021 in 27 countries’ is set to grow 5.8% annually to $139.8 billion in 2016. Demand will be boosted by growth in key original equipment manufacturing (OEM) markets, particularly motor vehicles.

The motor vehicle market is forecast to post the strongest gains through 2016, reflecting a turnaround in light vehicle production, bolstering OEM sales of industrial rubber products. However, the industrial equipment market, which includes industrial machinery and equipment as well as off-road vehicles, is expected to remain the largest segment of the industrial rubber product market through 2016.

The Asia/Pacific region, which represented 44 percent of the global market for industrial rubber products in 2011, is forecast to post the fastest gains of any region through 2016. Gains in regional demand will be fuelled by ongoing industrialization efforts and rising personal income levels, which will support manufacturing output in a range of industries, from construction machinery to household appliances. View the Report

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