16-May-2022 | Facts and Factors
According to Facts and Factors, the global industrial rubber market was valued at USD 31.10 billion in 2021 and is predicted to increase at a CAGR of 3.18% to USD 37.65 billion by 2028. The study examines the market in terms of revenue in each of the major regions, which are classified into countries.
Increasing demand from the automotive industry, rising scope of application, rapid industrialization, and increasing production of synthetic rubber are prominent trends propelling the market growth. Additionally, industrial rubber products have found an extensive scope of application in multiple end-use verticals and automotive is one of the major ones that drive the overall market growth over the upcoming years. Besides, the increasing sustainability trend is expected to have a restraining effect on the global industrial rubber product market and is expected to emerge as a major challenge for industrial rubber product companies.
Browse the full “Industrial Rubber Market By Type (Natural Rubber, Synthetic Rubber), By Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification, Coating, Sealant, & Adhesive, Medical & Healthcare, Others), By Product (Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others), and By Region - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2022 – 2028" report at https://www.fnfresearch.com/industrial-rubber-market
Moreover, rising automobile production and increasing use of rubber in multiple components are expected to make this industry a major end-use vertical for the industrial rubber product market growth over the forecast period. The industrial rubber product market is expected to be majorly driven by this industry. On the other hand, the increasing sustainability trend is expected to have a restraining effect on the global industrial rubber product market and is expected to emerge as a major challenge for industrial rubber product companies.
Segmental Overview
In terms of Application, in 2021, the automotive category accounted for the biggest share of the global Industrial Rubber market. The automotive industry holds the major share in the global industrial rubber market and is expected to continue its dominance during the forecast period. This is majorly due to the increasing use of industrial rubber in conveyor belts and other belting applications in agriculture and construction machinery. Among types of industrial rubbers, the automotive industry consumes synthetic rubber more due to its easy processing ability and better performance.
In terms of Type, in 2021, the synthetic rubber segment is expected to lead the market and emerge as a highly lucrative segment over the forecast period. This segment will be driven by rising use in the automotive sector. Its better abrasion-resistant quality makes it a good substitute for natural rubber. Also, Synthetic rubber is used in large quantities in automotive applications as an abrasion-resistant replacement for natural rubber. Synthetic rubber produced in the latex form is used as a rubbery adhesive in carpet manufacturing.
Regional Overview
In 2021, Asia Pacific had a major share in the global industrial rubber market and is estimated to continue its dominant position over the upcoming years. This is due to rapid urbanization, increased industrialization, government support, increasing investments, and low cost of manufacturing. The rubber industry of India has evolved considerably to tailor to the increase in needs of the domestic market which is expected to enhance the market growth in the coming years. Innovation and development in the rubber industry such as the manufacturing of eco-friendly rubber are expected to offer growth opportunities to the market over the upcoming years.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 31.10 Billion |
Projected Market Size in 2028 |
USD 37.65 Billion |
CAGR Growth Rate |
3.18% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), ZEON Corpo, and Others |
Key Segment |
By Type, Application, Product, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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Competitive Landscape
The report contains qualitative and quantitative research on the global Industrial Rubber Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.
List of Key Players in the Global Industrial Rubber Market:
- LANXESS (Germany)
- Sinopec (China)
- Goodyear Tire and Rubber Company (US)
- Kumho Petrochemical (South Korea)
- TSRC Corporation (Taiwan)
- Nizhnekamskneftekhim (Russia)
- JSR Corporation (Japan)
- LG Chem (South Korea)
- Versalis S.p.A. (Italy)
- ZEON Corpo
The global industrial rubber market is segmented as follows;
By Type:
- Natural Rubber
- Synthetic Rubber
By Application:
- Automotive
- Building & Construction
- Industrial Manufacturing
- Polymer Modification
- Wire & Cable
- Electrical & Electronics
- Bitumen Modification
- Coating, Sealant & Adhesive
- Medical & Healthcare
- Others
By Product:
- Mechanical Rubber Good
- Rubber Hose
- Rubber Belt
- Rubber Roofing
- Others
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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