IMARC Group’s latest report, titled “Industrial Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global industrial rubber market size reached US$ 28.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 36.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
Industrial Rubber Uses:
Industrial rubber, also referred to as natural or synthetic rubber, has widespread availability in the form of molds, sheets, and pieces that are used for making roofs, belts, hoses, mechanical products, etc. It offers several advantages, including friction, permeation, strength, conductivity, longevity, water, heat resistance, etc. Industrial rubber is utilized in manufacturing tires for vehicles, aircraft, and bicycles owing to the elasticity, resilience, and toughness of the product. In addition, it finds extensive applications across various sectors, such as construction, automotive, electrical, etc.
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What is the Market Demand of Rubber Industry ? :
The escalating product demand in the production of joints, gaskets, seals, etc., on account of high durability and corrosion-resistance properties, is among the primary factors driving the industrial rubber market. Besides this, the launch of several policies by the government bodies across countries to invest in the construction of airports, highways, metros, smart city projects, etc., is further augmenting the market growth. Moreover, the elevating requirement for industrial rubber as an adhesive for lamination, ceramic and plastic tile attachments, carpentry, etc., is also catalyzing the global market. Apart from this, the rising product usage in conveyor belts to transport commodities in a straight line or through elevation changes is acting as another significant growth-inducing factor. In addition to this, the increasing utilization of this substance in the manufacturing of molded household items is also stimulating the market growth. Furthermore, the inflating investments in research and development (R&D) activities for the development of innovative products are expected to bolster the industrial rubber market in the coming years.
Competitive Landscape with Key Players:
• Asahi Kasei Corporation
• Bridgestone Corporation
• Denka Company Limited
• Lanxess AG
• LG Chem Ltd
• The Goodyear Tire and Rubber Company
• Trinseo PLC
• TSRC Corporation
• UBE Corporation
• Yokohama Rubber Co. Ltd
• Zeon Corporation
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Key Market Segmentation:
Breakup by Type:
• Natural Rubber
• Synthetic Rubber
Breakup by Product:
• Mechanical Rubber Goods
• Rubber Hose
• Rubber Belt
• Rubber Roofing
Breakup by End Use Industry:
• Electrical and Electronics
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
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