Nov 16 2013
Research and Markets has announced the addition of the "Global Industrial Rubber Products Market 2012-2016" report to their offering.
Global Industrial Rubber Products Market Expected To Grow At A CAGR Of 5.85 Percent Over The Period 2012-2016
The report provides an in-depth market analysis with inputs from industry experts. Commenting on the report, an analyst from the researchers' team said: 'Industrial rubber products are used in several applications due to their advantages such as the ability to withstand extreme environments, durability, corrosion protection against chemicals, acids, and alkalis, and their property of impermeability. These properties of rubber make it a key product in a wide range of industrial applications. For instance, rubber products such as seals, closures, stops, caps, and containers are increasingly used in the Medical and Pharmaceutical sector to protect the product contents against external environment contaminants. Rubber products such as tank linings and condenser packaging have industrial applications due to their high resistance to moisture, heat, and ozone gas. In addition, the Construction industry is increasing the use of geomembranes for waterproofing applications. Thus, the increased use of rubber products in various applications is expected to drive the growth of the Global Industrial Rubber Products market during the period 2012-2016.'
According to the report, one of the main drivers for this market is the rapid growth of the Automotive industry. The increase in the production of motor vehicles increases the demand for several industrial rubber products such as belts, hoses, and gaskets.
One of the major challenges in this market is the increased threat from substitute products. Industrial rubber products face strong competition from an innovative range of plastics. The use of thermoplastic elastomers in various industries, especially in cost-conscious countries, reduces the market share of industrial rubber products across the globe.
Source: http://www.researchandmarkets.com/