World Demand for Industrial Rubber Products to Reach $97.8 Billion in 2013

Global demand for industrial rubber products is forecast to climb 4.3 percent annually through 2013 to $97.8 billion.  Market advances in developing areas will be fueled by healthy economic growth, ongoing industrialization efforts and rising personal income levels, bolstering manufacturing output and fixed investment expenditures.  The industrial equipment market, which includes industrial machinery and equipment as well as off-road vehicles, will continue to comprise the largest share of aggregate demand in 2013. These and other trends, including market share and product segmentation, are presented in World Industrial Rubber Products, a new study from The Freedonia Group, Inc., a Cleveland-based industry research firm.

China, which will surpass the US to become the largest national market for industrial rubber products, will account for over one-third of all additional demand generated through 2013.  India will also record strong gains, and sales growth is expected to be healthy as well in a number of lower-volume markets, including Thailand, Indonesia and Malaysia.  Advances will continue to be solid in Eastern Europe, reflecting the ongoing shift of durable goods manufacturing to that region, primarily from Western Europe. 

Although slumping in the shorter term, industrial rubber product demand in the US is expected to recover by 2013.  Advances will benefit from a turnaround in motor vehicle production, as well as by recovery in the manufacturing sector.  Western Europe and Japan will experience sluggish gains, reflective of the maturity of these markets.  However, these areas -- along with Australia and Canada -- will remain the most intensive users of industrial rubber products because of the advanced industrial and technological nature of their economies. 

Mechanical rubber goods comprised the largest product segment in 2008.   Suppliers of mechanical rubber products will benefit from continued gains in global motor vehicle production through 2013, as these products are highly represented in this market.  Advances will be stronger in the hose and belt segments, reflecting their wide diversity of applications and stronger price outlook compared to mechanical goods. 

The Freedonia Group is a leading international business research company, founded in 1985, that publishes more than 100 industry research studies annually. This industry analysis provides an unbiased outlook and a reliable assessment of an industry and includes product segmentation and demand forecasts, industry trends, demand history, threats and opportunities, competitive strategies, market share determinations and company profiles.