Historically, the global rubber products manufacturing market grew at a compound annual growth rate (CAGR) of slightly above 4.5%.
According to TBRC’s world rubber industry outlook, the global rubber products manufacturing market is expected to grow to more than $500 billion in 2021 at a CAGR of nearly 5.5%.
Rise in the application of rubber products in the end use industry is one of the key drivers of the market.
Find TBRC’s report on the rubber market analysis: https://www.thebusinessresearchcompany.com/report/rubber-products-manufacturing-global-market-report-2018
Global demand for thermoplastic elastomers (TPEs) as a source for raw material to the rubber products is increasing. Thermoplastic Elastomer (TPEs) consist both elastomer and thermoplastic properties which can provide flexibility as well as toughness and are also tear resistant. These elastomers have the longer life and better physical range than thermoset rubber which includes rubber latex and silicone. TPEs can stretch to moderate elongations and return to its original shape. They can also be recycled or reprocessed at a temperature above melting point. Demand of TPEs are increasing rapidly as automobile companies are looking for ways to reduce motor vehicle weight.
Download a sample of the rubber industry report: https://www.thebusinessresearchcompany.com/sample.aspx?id=74&type=smp
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