The US market for extruded rubber mechanical goods for automotive sales saw considerable fluctuations from 2013 to 2023. Starting at approximately $609.48 million in 2013, the market peaked in 2014 at $669.29 million before entering a period of decline. Major reductions occurred between 2019 and 2020, dropping from $598.56 million to $484 million. The market showed some recovery in the subsequent years, slightly reaching $553.2 million in 2022 but decreased to $538.69 million in 2023.
- Year-on-year variation over the last two years shows a mixed trend: - 2022 saw a 2.52% growth. - 2023 experienced a decline of -2.62%. - The five-year CAGR from 2018 to 2023 is -2.59%, indicating an average annual decline.
Future trends suggest a continued decline in the market. Forecasts indicate the market might fall to $461.18 million by 2028 with a forecasted five-year CAGR of -2.4%. Monitoring technological advancements in materials, shifts towards EVs, and supply chain disruptions will be critical in understanding future market dynamics.
