Automotive & Transportation Sectors to Push the Conductive Rubber Market to $12.58 billion by 2022
Bangalore, India: With its recently published study “Conductive Rubber Market: Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2022”, Infoholic Research forecasts that the global market for conductive rubber will continue to expand. The growing disposable income among developing countries and the increasing penetration of conductive rubber in the application sectors are the key drivers of the market. In addition, the growing acceptance among consumers owing to better performance, wide operating temperature range, and high chemical resistance are also pushing the market. This pattern is expected to continue during the forecast period to grow the conductive rubber market at a CAGR of 8.3% to reach $12.58 billion by 2022.
The high manufacturing base in developed and developing countries coupled with the booming automotive sector has further contributed to the market demand. Premium prices restrict the market of conductive rubber in the lower per capita income countries, yet it is expected to show a high growth rate during the forecast period in the developing and under developed countries.
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The automotive sector is one of the major contributors to the conductive rubber market. The high growth in economies and the increasing per capita income among consumers in the developing countries have increased the demand for the automotive industry. This trend is expected to continue with the automotive & transportation sector leading the market during the forecast period. By type, thermal conductive rubber is dominating the market of conductive rubbers. It has a huge market in the automotive industry due to its superior performance, sound control measures, and increasing miniaturizations. The use of electrical conductive rubber in electrical and electronics to provide electromagnetic shielding effect is pushing the demand for overall conductive rubber market. Further, the raw material price fluctuation is the restraint for manufacturers in relatively smaller economies restricting the usage of conductive rubber.
“The automotive sector constitutes a majority of the market share for conductive rubber. The increasing adoption of conductive rubber in emerging countries is driving the market growth. Asia Pacific currently dominates the conductive rubber market owing to large export-oriented manufacturing facilities and the increasing acceptance among consumers with a maximum contribution coming from China. This lead from China is expected to continue in the near future with added advantages of cheap raw material and lower labor cost.” – Khushboo Pandey, Research Analyst, Infoholic Research.
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Key insights of the report
- The study is classified based on end-users as:
- Automotive & Transportation
- Electrical & Electronics
- Industrial Machines
- The study is classified based on types as:
- Thermal Conductive Rubber
- Electrical Conductive Rubber
- The study has covered regions such as the following:
- Asia Pacific
- North America
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities