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Industrial hose market forecast to reach $14.81 billion by 2023
Editor:LISA TAN  Post Time:2017-10-19  Click:

Industrial hose market forecast to reach $14.81 billion by 2023

 

(sources from rubberworld, edited by Lisa Tan, Hunan Farida tel:+86-731-83213228 cellphone: +86-1511 354 285 lisa@hnyxchem.com.cn

     Hunan Yixiang Technology has a history of more than 20 years, and we are specialized in producing organic peroxides, such as BIPB(Cas NO.:25155-25-3), DHBP(Cas NO.:78-63-7), TMCH(Cas NO.:6731-36-8), co-crosslinking agent TAIC(Cas NO.:1025-15-6) and flame retardent TBC(Cas NO.:52434-90-9).We have fully finished REACH registration for BIPB and TAIC and maderegistration for TBC.

     Industrial hose market is estimated to grow from $10.67 billion in 2017 to $14.81 billion by 2023, at a CAGR of 5.6 percent between 2017 and 2023. Growing infrastructure-related developments and increasing demand for robust industrial hoses in critical applications are some of the driving factors for the growth of the market. Hoses are used for the suction and discharge of water in various applications, such as irrigation; gardening and fire equipment; refrigeration equipment, and food processing equipment. Moreover, chemicals, agriculture, mining, food and beverages, infrastructure, and other industries use hoses to transfer water from one location to another, driving the industrial hose market. Polyurethane is a polymer that possesses good abrasion and tear resistance, high tensile strength, and low compression set, along with good flexibility. It also exhibits good chemical resistance with excellent stability in rough atmospheric conditions. It has exceptional resistance to gasoline, oil, kerosene and other petroleum-based products, making it suitable for use in industries such as oil and gas, chemicals, mining, food and beverages, and agriculture. A large number of players offer industrial hoses manufactured from polyurethane.

     It is expected that automobile, infrastructure, and agriculture industries will lead the growth of the market during the forecast period. Most of the demand for hoses comes from China, Japan, and India. Increasing infrastructure-related developments in China and India, and the modernization of agricultural processes further drive the industrial hose market in the region.

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