The Rubber Coating Market value to Reach $8.87 Billion by 2023
Bangalore, India, October 18, 2018: With its recently published study “Rubber Coating Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the global market for rubber coating will continue to expand. The growing disposable income among developing countries and the increasing penetration of rubber coating in various applications are the key factors driving the market growth. Further, the changing consumer preferences towards better quality and ease in applying rubber coating in products is increasing the demand for rubber coating. This pattern is expected to continue during the forecast period which will increase the rubber coating market value to $8.87 billion by 2023, growing at a CAGR of 6.4% during the forecast period.
Rubber is one of the most common material used in various industries. Rubber coating is one of the most extensively used methods of coatings, which is applied in various applications. Rubber coating is applied to seal tools, flooring, and various other surfaces. It has several distinct features that make it very purposive and such protective coating is applied or infused into a substrate for protective, decorative or functional purposes.
“Rubber coating plays an important role in the global economy with major uses in the industrial applications. It has come a long way from being considered a premium product to becoming an essential material in automotive manufacturing. It has become a critical addition to maintain regulatory compliance in some geographies. Increasing affordability will give an impetus to the market. The market that was earlier dominated only by the developed countries is now finding a strong foothold in the developing countries, such as China, wherein the domestic market is quite robust and offers high potential for growth. The market is expected to witness a smooth growth in the next 5–6 years.” – Khushboo Pandey, Research Analyst, Infoholic Research
The key insights of the report are as follows
- The global rubber coating market has been analyzed based on material types:
- Silicone Rubber
- Butyl Rubber
- The study constitutes a classification based on application methods:
- Spray Coating
- The study covers the below mentioned geographies:
- Asia Pacific
- North America
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities