The usage of rubber is known to exist in industrial applications from the very beginning of the industrial era. It is used for varied industrial applications as well as household applications such as matting, flooring, belts, tiers, and tubes. As rubber is highly exploited in tires and tubes, which is an essential part of the automobile industry, it would add to the indirect growth of the rubber product market.
The global industrial rubber products market is expected to grow with a CAGR of 5.2% during the forecast period (2021-2026). The major factors responsible for the market demand are the increasing production and sale of automobiles, rising demand for eco-friendly rubber, and vigorous economic view for the Asia Pacific region.
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