Los Angeles, CA -- (SBWIRE) -- 11/12/2018 -- In terms of revenue, the global sponge rubber market was valued 5962.27 million USD in 2017, and is estimated to be worth 7497.60 million USD by 2023. In terms of volume, the production of sponge rubber was about 8187986 Cubic Meters in 2017. And it is anticipated to reach 9065243 Cubic Meters by 2023.

In terms of revenue, the global sponge rubber market was valued 5962.27 million USD in 2017, and is estimated to be worth 7497.60 million USD by 2023. In terms of volume, the production of sponge rubber was about 8187986 Cubic Meters in 2017. And it is anticipated to reach 9065243 Cubic Meters by 2023.

North America is the dominate producer of sponge rubber, the production was 1993701 Cubic Meters in 2017, accounting for about 24.35% of the total amount. China has the highest production growth rate of 2.07% from 2013 to 2018. A huge space for growth in the Chinese market exists, the quality and technology should be further improved.

The industry concentration of sponge rubber is very low. There are many players around the world. The top five companies occupied about 10.38% production share of the market in 2017.

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Automotive Industry accounted for the largest market with about 40.62% share of the global consumption in 2017. Moreover, it is anticipated to grow at a CAGR of 1.84% from 2017 to 2023. With over 17.44% share in the sponge rubber market, Building & Construction was the second largest application market in 2017, and is anticipated to grow at a CAGR of 1.25%, in terms of consumption volume, from 2017 to 2023.

Under the influence of raw materials, market competitions and economic conditions, the price of sponge rubber fluctuate from 2013 to 2018. As competition intensifies, prices gap between different brands will go narrowing.

The Global Sponge Rubber Market Research Report 2018 This report released by QYResearch provides a basic overview of the Sponge Rubber industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.

The report then focuses on major industry players in United States, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Sponge Rubber industry development trends and marketing channels were analyzed.Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.

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