According to a report by Research Nester, the global cellular rubber market is estimated to reach $18 billion by the end of 2035 by growing at a CAGR of 6% over the forecasted period, up from $8.4 billion in 2022. The rise in the automotive, rubber, electronic, and space industries will account for the rise in the market growth.
Cellular rubber has the capacity to rapidly bind with the metal and provide a strong weather screen. It is used for a variety of sealing purposes including engine seals and light seals in the space industry, foam blanks used for the transportation and fitting of solar components, device encapsulation and vibration avoidance in electrical devices, and the manufacturing of footwear and slipper soles.
Cellular rubber is gaining popularity for ease of use, adaptability, and durability. These factors are expected to account for the rise in the cellular rubber market over the forecasted period.
Variations in the price of raw materials, and stiff competition between many of the key players in the cellular rubber industry may deter the growth of cellular rubber market over the forecast period. However, the increasing demand and adaptability of cellular rubber is expected to outweigh the possible limitations of growth.
To read the report, visit www.researchnester.com/reports/cellular-rubber-market.