Millable Polyurethane Rubber Market: Introduction
- Millable polyurethane rubber is also called millable gum. It is a solid polymer, which can be processed on internal mixers and rubber mills. Millable polyurethane rubber is often manufactured by reacting polyester or polyether polyols with diisocyanates such as MDI and TDI.
- It possesses properties such as superior abrasion resistance, mechanical strength, and oil and ozone resistance
- Millable polyurethane rubber is widely used in various applications such as rollers & belting, medial, aerospace & defense, and tire. Among these, rollers & belting is the leading segment of the market. Millable polyurethane rubber provide longer wear resistance on the surface of conveyor belt. Thus, rollers & belting is likely to be a major consumer of millable polyurethane rubber in the near future. Malleable polyurethane rubber is also used for sole making, tire fill products, seals, gaskets, bearing, pulley, belts, etc.
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Key Drivers of Millable Polyurethane Rubber Market
- Millable polyurethane rubber is a polymer that offers characteristics such as high oil and ozone resistance, abrasion resistance, hydrolysis resistance, and mechanical strength. Millable polyurethane rubber is used extensively in the production of rubber covered rollers for paper & printing and footwear industries due to its high abrasion resistance and hydrolysis resistance. Rise in income of the middle class population, increase in spending power, growth in urbanization, and influence of latest fashion trends are some of the major factors driving the footwear market across the globe, especially in Asia Pacific. This is anticipated to boost the demand for rollers in the footwear industry. In turn, this is projected to propel the demand for rubber covered rollers in the near future.
- Increase in demand for material handling of large amount of goods in automotive, food & beverages, retail, and aerospace & defense sectors has led to material safety concerns. Furthermore, increase in supermarket distribution channels and hypermarket chains is likely to fuel the demand for new warehouses and distribution centers. This is anticipated to drive the demand for conveyor & roller systems in the near future, thereby boosting the demand for millable polyurethane rubber in the manufacture of conveyor & roller belts, owing to its excellent mechanical strength and abrasion resistance at the time of material handling.
Stiff Competition from Counterparts and High Flammability to Hamper Market
- Millable polyurethane rubber faces stiff competition from counterparts such as styrene butadiene rubber and natural rubber. These are low cost rubbers and possess similar properties as that of millable polyurethane rubber. This is expected to hamper the market during the forecast period.
Asia Pacific Expected to Lead Global Millable Polyurethane Rubber Market
- North America, Europe, Asia Pacific, Latin America, and Middle East & Africa are the key regions of the global millable polyurethane rubber market
- Asia Pacific dominated the global millable polyurethane rubber market in 2019. Increase in demand for millable polyurethane rubber in rollers & belting, medial, aerospace & defense, tire, and other industries is anticipated to drive the market across the region. Rapid increase in population in countries such as China and India is estimated to boost the demand for demand for food & beverages and e-commerce products, thus fueling the demand for conveyor systems in these industries. These factors are projected to drive the demand for rolling & belting in conveyor systems. This, in turn, is likely to boost the production and consumption of millable polyurethane rubber in Asia Pacific.
- Europe is expected to hold important share of the global millable polyurethane rubber market. Growth in income and increase in standard of living of consumers are fueling the demand for millable polyurethane rubber elastomers in various applications.
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Key Players Operating in Millable Polyurethane Rubber Market
The global millable polyurethane rubber market is highly concentrated, with top manufacturers accounting for major share. Currently, just a few producers operate in the market. They are extensively engaged in product development activities to increase their presence in the market. Key players operating in the global millable polyurethane rubber market include:
- TSE Industries, Inc.
- Swastik Group of Companies
Global Millable Polyurethane Rubber Market: Research Scope
Global Millable Polyurethane Rubber Market, by Application
- Rollers & Belting
- Aerospace & Defense
Global Millable Polyurethane Rubber Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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