The global non-tire rubber products market size is expected to experience substantial growth during the forecast period. The growth is attributable to the increasing demand for non-tire rubber products such as sterile gloves from the healthcare sector and the rising automotive sector worldwide. This information is published by Fortune Business Insights in its latest report, titled, “Non-tire Rubber Products Market Size, Share & Industry Analysis, By Product type (Rubber Gloves, Rubber Hoses, Medical Equipment and Devices, Rubber Belts, Roofing (Rubber), Mechanical Rubber Goods), By Application (Textiles, Leathers, Others), By Rubber Type (Ethylene-propylene, Nitrile Butadiene Rubber, Styrene Butadiene Rubber), By Application (Aerospace, Printing, Agriculture & forestry) and Regional Forecast, 2021-2028.”
The effect of the global pandemic, COVID-19, has been felt across several economies facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been at a standstill with limited operational activities. However, a collective effort from the government and the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
Non-tire rubber products are derived from rubber, however, widely used across industrial applications not related to the tire. These products provide excellent properties such as heat and corrosion resistance that leads to their extensive adoption across the globe.
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Fortune Business Insights™ lists out a few of the renowned companies present in the non-tire rubber products market. They are as follows:
- Exxon Mobil
- Goodyear Tire and Rubber Company
- Kumho Petrochemical
- Lion Elastomers, LLC
- Zeon Corporation
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The market report provides an in-depth analysis of several factors such as the key drivers and restraints that will impact growth. The report further provides insights into the regional analysis covering different regions, contributing to the market growth. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborate to further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point analysis to obtain information about the current trends and industry developments that will drive the market growth between 2020 and 2027.
Increasing Demand from Healthcare Sector to Accelerate Growth
The COVID-19 pandemic has led to an increased focus of the healthcare industry towards treating the patients. This has surged the demand for non-tire rubber products such as sterile gloves to combat the coronavirus across the globe. Moreover, the rising automotive sector is likely to boost the adoption of non-tire rubber products that aid in reducing the overall weight of the vehicles to enable better performance and efficiency. These factors are expected to contribute to the global non-tire rubber products market growth between 2020 and 2027.
Presence of Established Domestic Manufacturers in Asia-Pacific to Aid Growth
Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the highest position in the global non-tire rubber products market during the forecast period. This is attributable to the presence of major domestic manufacturers that play a vital role in propelling the demand for non-tire rubber products in the region.
The market in North America is anticipated to showcase considerable growth backed by the increasing awareness regarding the adoption of non-tire rubber products for industrial applications such as automotive, medical, and others.
By Product type
- Rubber Gloves
- Rubber Hoses
- Medical Equipment and Devices
- Rubber Belts
- Roofing (Rubber)
- Mechanical Rubber Goods
By Rubber Type
- Nitrile Butadiene Rubber
- Styrene Butadiene Rubber
- Natural Rubber
- Agriculture & forestry
- Mechanical/plant engineering
- Ships, ports & ocean
- Oil & Gas
- Material handling
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, Taiwan, India, South Korea, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
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- Which company accounted for the highest market share?
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the market growth?
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Key Players Focus on Collaboration to Expand Their Product Portfolio and Boost Sales Revenue
The global non-tire rubber market comprises small, medium, and large companies focusing on maintaining a stronghold and gaining a competitive edge over their rivals. They are doing so by collaborating with other companies to develop advanced non-tire rubber products to cater to the growing end-user industrial demands. Moreover, other key players are striving to maintain their presence by adopting strategies such as merger and acquisition and collaboration that will favor the market growth.
- December 2020 – Vystar Corporation signed a Memorandum of Understanding (MoU) with the Indian Rubber Manufacturers Research Association (IRMRA). The MoU is aimed at collaborating to develop several tire and non-tire rubber products that are sustainable and eco-friendly.
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