Industrial Rubber Market Growth & Forecast

Insights

The Industrial Rubber Market was estimated to grow from US$ 25.5 Billion in 2021 to US$ 36.48 Billion by 2028 at a CAGR of 5.12% during the forecast period of 2022-2028.

Wish to Get a Free Sample? Register Here

What is Industrial rubber?

Industrial rubbers are major of two types i.e., synthetic rubber and natural rubber. Synthetic rubber is an elastomer, developed by the process of polymerization of unsaturated hydrocarbons from petroleum by-products. It is more flame resistant as compared to natural rubber.

Industrial rubbers are the most versatile and widely used products, in various applications, such as automotive, adhesives, buildings & construction, wire & cable, and medical & healthcare.

Kay Players

Some of the major industrial rubber manufacturers are-

• Lanxess AG
• Sinopec
• Kumho Petrochemical Co., Ltd
• TSRC Corporation
• The Goodyear Tire and Rubber Company

Drivers

The prime factor that is contributing to the growth of the market are-

• The increasing usage of versatile materials in various applications, such as automotive, building & construction, medical & healthcare, coating, sealant & adhesives, and wire & cables.
• The use of rubber components like seals, hoses, gaskets, wiper blades, and vibration control devices has propelled the market demand for mechanical automotive rubber in many industries.

Know which region offers the best growth opportunities. Register Here.

Segment Analysis

By Type

The Synthetic Rubber segment held the larger share of the market.

The market is segmented into natural rubber and synthetic rubber. Synthetic rubber is an abrasion-resistant replacement for natural rubber, widely used in the automotive application, which is driving the growth of this segment. Further, it is produced in latex form to be used as a rubbery adhesive in manufacturing carpets. The various other applications where synthetic rubber is used are roll coverings, drive couplings, conveyor belts, and adhesives.

By Application Type

The Automotive Application Dominates the market, as industrial rubbers are majorly used in this due to their better performance and easier processing ability.

The market is segmented as automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, coating, sealant & adhesive, medical & healthcare, and others. Further, industrial rubbers are used as a replacement for metal, glass, and wood parts used in automotive applications. They also possess various properties such as stiffness and abrasion resistance, which are propelling the growth of the segment.

By Region

Asia-Pacific is estimated to be the fastest-growing industrial rubber market, with lucrative growth opportunities.

The growth of the market is driven by the increasing demand for vehicles, automotive components, and substantial infrastructural development, the growing building & construction sector, which is generating huge demand for industrial rubbers, and the presence of a large number of industrial rubber manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer significant growth opportunities.

Wish to Get a Free Sample? Register Here

The industrial rubber market is segmented into the following categories. 

By Type

• Natural Rubber
• Synthetic Rubber

By Product Type

• Mechanical Rubber Good
• Rubber Hose
• Rubber Belt
• Rubber Roofing
• Others

By Application Type

• Automotive
• Building & Construction
• Industrial Manufacturing
• Polymer Modification
• Wire & Cable
• Electrical & Electronics
• Bitumen Modification
• Coating, Sealant & Adhesive
• Medical & Healthcare
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Rest of the World

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Trend and forecast analysis
• Segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.