Acumen Research and Consulting estimates that global Industrial Rubber market is expected to reach the market value of around US$ 46 Bn by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 – 2027.
Industrial rubber is of two forms natural and synthetic. Natural rubber is made up of polymers from cotton, rubber trees and other plants containing organic compounds such as isoprene. On the other hand, the synthetic rubber is, an elastomer formed by the polymerisation of unsaturated hydrocarbons from by-products of petrochemical products.
The report provides analysis of global Industrial Rubber market for the period 2016-2027, wherein 2020 to 2027 is the forecast period and 2019 is considered as the base year.
The growing demand for automotive rubber is driving the global market for industrial rubber. Tire industry which is used in buses, tractors, automobiles, trucks, military vehicles and others absorbs a lot of automotive rubber. In addition, the increasing market for industrial rubber in the manufacturing and building sectors in Asia-Pacific is projected to increase. Besides, in tire applications especially in the vehicle industry, rubber penetration into non-tire rubber goods is projected to increase significantly over the forecast period. The key revenue produced by rubber goods are mechanical vehicle rubber part such as screws, joints, slabs, friction control devices and washer blades. In addition, there has been a succession of automotive aftermarket development in an emerging vehicle park, particularly in developing countries, which further drives demand for industrial goods.
North America became the largest region in 2019 owing to strong demand for industrial rubber from resurgent building and automotive sectors. The rising demand for fuel-efficient car parts is expected to boost market growth in this area due to environmental issues and tough regulations.
Asia Pacific is anticipated to grow at a significant CAGR amid the forecast period in the global industrial rubber industry. The country is a significant producer and consumer of rubber. Motorcycle and bike pneumatics are emerging in Asia Pacific. Many stakeholders are also involved in the development of cars and truck pneus and the expansion of bicycle and motorcycle pneus in the region. There is also a strong automobile industry in the region and it is an emerging market for vehicle production and distribution. There is a healthy demand for cars used for commercial purposes in developing economies as in India, Sri Lanka and Bangladesh, and so the production and selling of heavy goods vehicles like lorries or buses in these countries are growing. Most companies are involved in developing lorry and bus pneumatic systems.
The market research study on “Industrial Rubber Market (Industrial Rubber Market By Type: Synthetic Rubber, Natural Rubber; Industrial Rubber Market By Application: Construction, Automotive, Electrical & Electronics, Manufacturing, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers a detailed insights on the global Industrial Rubber market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report covers global Industrial Rubber market size, and segment markets by type, application, and geography along with the information on companies operating in the market. The Industrial Rubber market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global Industrial Rubber market is segmented as below:
Market By Type
Market By Application
Market By Geography
Middle East & Africa
Key Players and Market Situation
Participants include major global players such US Rubber, TSRC, LANXESS, JSR Corporation , LG Chem , ZEON Corporation , Versalis S.p.A. , Nizhnekamskneftekhim Ansell, Asahi Kasei Advance Corporation, THAI RUBBER CORPORATION, NISHIKAWA RUBBER CO.,LTD., and Others.
Their large range of industrial rubber products and large R&D investment in rubber, revenue, capital and employee strength, and the geographical presence of companies characterize their market dominance.
Industrial rubber is of two forms natural and synthetic. Natural rubber is made up of polymers from cotton, rubber trees and other plants containing organic compounds such as isoprene.
The growing demand from the automotive industry is a key driver of the market.
Health hazards associated with industrial rubber.
As per Acumen Research and Consulting, the industrial rubber market value is anticipated to be hit around US$ 46 Bn in 2027.
The industrial rubber market is anticipated to grow around 6% CAGR amid the forecast period 2020-2027.
North America held maximum share in 2019.
Participants include in industrial rubber market such US Rubber, TSRC, LANXESS, JSR Corporation , LG Chem , ZEON Corporation , Versalis S.p.A. , Nizhnekamskneftekhim Ansell, Asahi Kasei Advance Corporation, THAI RUBBER CORPORATION, NISHIKAWA RUBBER CO.,LTD., and Others.