Los Angeles, December 13, 2019 – A new report announced by QY Research titled “Global Rubber Compound Sales Market Report 2019,” is estimated for 6 years offers a detailed analysis of the global Rubber Compound Sales market. According to the authors of this report the global market for Rubber Compound Sales is expected to reach over US$ 10 Bn in 2025, which was valued at around US$ 9 Bn in 2018. The market is projected to exhibit a CAGR of 3.8% from 2019 to 2025.
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High Customizability – To Create Remarkable Growth of the Market
Industrial and Consumer Goods Sector: Increasing Industrialization and infrastructure development has led to extensive usage of rubber compound in cables and wiring. The increasing need for electrification has led to the extensive need for high quality for control, assembly, and instrumentation requirements. Consumer goods are also highly dependent on installation that requires an array of cable and wiring.
Automotive Industry: Increasing usage of rubber compounds to manufacture rings, seals, and fasteners for metal bonded spare parts and body parts of the vehicles are leading to the growth of the Rubber Compound Sales market. It also has extensive usage in tires and wheels in the automotive industry.
Extensive Usage of Rubber Compound in Footwear - To Foster the Growth of the Application Segment
The application segment divided into Building and Construction Industry, Automotive Industry, Footwear, Wire & Cable, and Others. Extensive usage of rubber compounds in the footwear industry is due to its advantages such as waterproof nature and durability. Its usage in footwear also offers slip resistance and is extensively used in sports accessories. These factors have led to a high demand for rubber compounds in protective gear and attachments in recreational equipment and goods. The type segment is bifurcated into SBR Compounding, EPDM Compounding, Natural Rubber Compounding, Silicone Rubber Compounding, BR Compounding, and NBR Compounding.
North America: Likely to Lead the Market in the Years to Come
North America has a significant presence of printing and textile industries that have extensive usage of rubber compound. Increasing demand for footwear, tire, and industrial goods has extensive usage of rubber compound which is leading to the growth of the market in the region. Increasing demand for clay, mica, and talc in the building and construction sector is likely to contribute to the growth of the Rubber Compound Sales market.
Offering High-Quality Solutions: Major Emphasis of the Key Players
Some of the key players functioning in the Rubber Compound Sales market are PHEONIX Compounding, Hexapol Compounding, Hutchinson, Cooper Standard, Elastomix, Polymer- Technik Elbe, Dongjue Silicone Group, AirBoss of America, Preferred Compounding, KRAIBURG Holding GmbH, Guanlian, Dongguan New Orient Technology, Haiyu Rubber, American Pheonix, Katosansho, Dyna-Mix, Condor Compounds GmbH, Comet, and Siamnavakam. Top players are inclined to incorporate advanced technology to manufacture quality products to offer solutions for industrial applications.
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