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  • Industrial Rubber Market Growth Analysis | 2023-2028

    Industrial Rubber Market Growth Analysis | 2023-2028

    Industrial Rubber Market Growth Analysis | 2023-2028
    Report code - SRAM481 Delivery - 2 Weeks
    Industrial Rubber Market Size, Share, Trends, Forecast, & Growth Analysis - 2023-2028
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    Market Insights

    The industrial rubber market was estimated at USD 26.8 billion in 2022 and is likely to grow at a CAGR of 5.12% during 2023-2028 to reach USD 36.16 billion in 2028.

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    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.

    Industrial Rubber Market Report Highlights

    Market Size in 2022

    USD 26.8 billion

    Market Size in 2028

    USD 36.16 billion

    Market Growth (2023-2028)

    5.12% CAGR

    Base Year of Study

    2022

    Trend Period

    2017-2021

    Forecast Period

    2023-2028

    Key Players

    Some of the major industrial rubber manufacturers are-

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

    Market Dynamics

    The prime factors that are contributing to the growth of the global 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.

    Industrial-Rubber-Market-Dynamics

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    Segment Analysis

    By Type

    The industrial rubber market is segmented into natural rubber and synthetic rubber. The synthetic rubber segment held the larger share of the market during the forecast period. Synthetic rubber is an abrasion-resistant replacement for natural rubber, widely used in automotive applications, 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 market is segmented as automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, coating, sealant & adhesive, medical & healthcare, and others. The automotive application dominates the market, as industrial rubbers are majorly used in this due to their better performance and easier processing ability. 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.

    Regional Insights

    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.

    Industrial-Rubber-Market-Regional-Insights

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    Critical Questions Answered in the Report

    • What are the key trends in the market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the market?
    • What are the key strategies adopted by the major vendors to lead in the market?
    • What is the market share of the top vendors?

    Market Segmentation

    This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    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 (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, The UK, Russia, Italy, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

    Industrial-Rubber-Market-Segmentation

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    Target Audience

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

    • Manufacturers
    • Suppliers
    • Distributors
    • Organizations
    • Government bodies

    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.

    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.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Industrial Rubber Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market Segment Analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirements?

    10% free customization

    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.

    Frequently Asked Questions (FAQs)

    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.

    The industrial rubber market was estimated at USD 26.8 billion in 2022.

    The industrial rubber market is likely to reach USD 36.16 billion in 2028.

    The industrial rubber market is likely to grow at a CAGR of 5.12% during 2023-2028.

    The prime factor that is contributing to the demand for industrial rubbers is mainly 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.

    Some of the key players in the market are- Lanxess AG, Sinopec, Kumho Petrochemical Co., Ltd, TSRC Corporation, and The Goodyear Tire and Rubber Company.

    Asia-Pacific is estimated to be the largest region in the market owing to a growing percentage of the geriatric population in the regional market.

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