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