- The key vendors in the global CR market 2015-2019 are Asahi Kasei Chemicals Crop, Chongqing Changshou Chemical co. ltd, DuPont, Lanxess AG and Showa Denko. Co
London, 16 July 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global CR market 2015-2019. Use of sulfur-modified CR is one of the key trends upcoming in the market. Sulfur-modified grades are utilized in components that are exposed to dynamic stress, for example, in driving belts, timing belts, and conveyor belts due to their astounding mechanical properties. The global CR market 2015-2019 is expected to grow at a CAGR of 5.41% and 6.32% on the basis of production and consumption, respectively, over the period 2014-2019.
Various features of CR such as high elasticity and its resistance to heat, ozone, and solvents etc. make it one of the most popular synthetic rubbers. CR is widely used in hoses and belts for vehicles, in sheathing for electric wire, as an architectural rubber product, and in general industrial materials. The market is expected to grow at a steady pace during the forecast period because of the rapid development of the automotive sector in emerging economies such as China and India, where CR is used widely in the manufacture of vehicles.
“Demand for fuel-efficient tires has surged because of rising environmental concerns as well as changes to the labeling regulations for tires in Japan and EU,” says Faisal Ghaus, Vice President of Technavio Research.
“Many CR manufacturers based in North America and Europe are setting up production plants in APAC because of the cost of low production. For instance, in January 2013, Bridgestone Asia Pacific, a wholly owned subsidiary of Bridgestone, established a new technical center in Thailand.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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