Global demand for industrial rubber products will be led by growth in key OEM markets, particularly
motor vehicles, and aftermarket demand due to strong emerging developing nations.
Global market to rise 5.8%
per annum through 2016
The global market for industrial rubber
products is projected to increase 5.8
percent per year to $140 billion in 2016.
Demand gains will be spurred by growth
in key original equipment manufacturing
(OEM) markets, particularly motor vehicles.
In addition, the worldwide motor
vehicle park will grow at a more rapid
pace based on the emerging strength of
developing markets, which will support
aftermarket demand.
China, Asia/Pacific region
to remain dominant
The Asia/Pacific region, which represented
44 percent of the global market
for industrial rubber products in 2011, is
forecast to post the fastest growth of any
region through 2016. Gains in regional
demand will be fueled 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 to motor vehicles. China
will remain the largest national market
for industrial rubber products, accounting
for 27 percent of total global demand in
2016. However, India is expected to post
the fastest growth of any country worldwide,
outpacing even China.
Demand for industrial rubber products in
the US, the second largest national
market in the world behind China, will
experience an acceleration in growth
based on an improved manufacturing
climate. Western Europe and Japan will
see modest increases, in large part
because those markets have already
matured. Nevertheless, because of the
advanced industrial and technological
nature of their economies, intensity of
product use in these areas will remain
among the highest in the world.
Motor vehicle market to
post most rapid growth
The motor vehicle market is forecast to
post the fastest gains through 2016,
reflecting an acceleration in light vehicle
production, which will bolster OEM sales
of industrial rubber products. However,
industrial equipment, which includes
industrial machinery as well as off-road
vehicles, is forecast to remain the largest
market for industrial rubber products.
Mechanical rubber goods
to remain leading product
segment
Mechanical rubber goods -- which
include such products as body seals,
vibration control devices, and wiper
blades -- are expected to remain by far
the largest product segment through
2016. These products are employed
heavily in motor vehicles, and segment
growth will be largely attributable to the
sanguine outlook for global automotive
output. Rubber belts and hoses will see
the fastest gains of any product segment
during that span, bolstered by an
improving outlook for pricing relative to
mechanical goods.
Study Scope
This study analyzes the $105.5 billion world industrial rubber product industry. It presents historical demand data for the years 2001, 2006 and 2011, and forecasts for 2016 and 2021 by market (e.g., industrial equipment, motor vehicles, construction, aerospace), product (e.g., mechanical goods, hose, belts, roofing), world region and for 27 countries.
The study also considers market environment factors, details industry structure, evaluates company market shares and profiles 39 industry players, including Hutchinson, Tokai Rubber and Tomkins.
