Industrial Rubber Market by forecasting the high Growth Segments, Analysis, Share, Trends 2030

Industrial Rubber Market Overview -

Industrial Rubber is a polymer manufactured synthetically due to its properties of hardness, tensile strength & modulus, abrasion resistance, and tear resistance. Major applications of rubber include tires, tubes, belts, hoses, flooring mats, and others. The global industrial rubber market report comprises pertinent trends, opportunities, and challenges for end-users in conjunction with predictions for the forecast period (2021-2030). The global industrial rubber market is expected to generate a revenue of more than 40 billion US dollars during the forecast period. The global industrial rubber market is expected to register a CAGR of 4.9% by the year 2023.

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Eminent Firms:

The Intended Audience of the global industrial rubber market includes Potential investors, Research firms, development institutes, Nationalized laboratory, Traders of Industrial Rubber, Raw material suppliers, Industrial Rubber Manufacturers, distributors of Industrial Rubber.

The Key Players of the global industrial rubber market include Sinopec (China), LANXESS (Germany), LG Chem (South Korea), Bridgestone Corporation (Japan), KUMHO PETROCHEMICAL (South Korea), The Goodyear Tire & Rubber Company (U.S.), JSR Corporation (Japan), ZEON CORPORATION (Japan), Versalis S.p.A. (Italy), TSRC (Taiwan), and PJSC "Nizhnekamskneftekhim" (Russia), and others.

Market Potential and Pitfalls :-

The global industrial rubber market is poised to achieve a massive valuation over the forecast period. Massive demand from the automotive industry owing to its continuous expansion can bode well for the market. Industrial rubber is consumed by trucks, buses, tractors, and military vehicles. The rapid urbanization in Asia Pacific combined with the large working population is anticipated to fuel market demand. The automotive aftermarket and building & construction sectors are projected to majorly drive the industrial rubber market demand.

The automotive industry and its expansive growth in countries of Asia Pacific and Europe are predicted to be lucrative for the market. Policies designed to fuel the war for electric and hybrid vehicles among automotive manufacturers will witness massive demand for rubber applications. Lowered prices of automotive components such as alternators, transmission components, and batteries can spike the demand in rubber.

On the other hand, fluctuating raw material prices are likely to remain a key restraint on the global Industrial Rubber Market over the forecast period from 2021 to 2030.

Over the past few years, the Industrial Rubber Market market is witnessing a huge growth mainly due to the demand for sturdy, yet light-weight materials in the fields of marine and aircraft building. Moreover, the rising demand for low weight, mouldability, and high-quality surface finishes in the automotive manufacturing sector escalates market on the global platform.

According to Market Research Future (MRFR), a leading research firm, the global Industrial Rubber Market market, is estimated to witness a thriving growth by 2023. In its recent study, MRFR also asserts that the market would register an impressive CAGR during the anticipated period (2021 – 2030). Rapid industrialization, urbanization, and improving economic conditions worldwide are the key trends driving the Industrial Rubber Market.

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Segment Study of Industrial Rubber Market :-

The global market for industrial rubber has been segmented on the basis of the type, product, product processing, end-use industry, and region.

Based on type, the global market for industrial rubber has been segmented into natural and synthetic.

Based on the product, the global market for industrial rubber has been segmented into tires, seals, adhesives & sealants, shock-absorbing parts, conveyor belts, hoses, roofing, sports equipment, and others.

On the basis of the product processing, the global market for industrial rubber has been segmented into extrusion, roller die, calendering, coating, molding & casting.

On the basis of the end-use industry, the global industrial rubber market is segmented into building & construction, automotive, industrial manufacturing, electrical & electronics, and others.

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Industrial Rubber Market Market - Geographical Analysis :-

The global industrial rubber market is spanned across five regions namely Asia Pacific (APAC), North America, Europe, Latin America, and the Middle East & Africa (MEA).

APAC had led the market in 2016 due to tremendous demand from end-use industries of electronics, construction, and automotive. High production of vehicles due to establishment of facilities by automotive majors and sales of said vehicles are major factors inducing the demand for industrial rubber. Rapid urbanization can influence the growth of the global industrial rubber market to a certain extent.

North America held the second-largest share in 2016 following APAC. Massive demand for fuel-efficient automotive parts due to strict regulations and environmental concerns can work in favor of the market. Resurgence of automotive and construction sectors will be pivotal in the growth of the global market in the region.

Europe can display a modest growth rate during the forecast period owing to massive production rate and sales of automotive parts in France, U.K., Germany, and others. Latin America can account for a significant revenue share of the global industrial rubber market due to thriving automotive sectors in Brazil, Mexico, and others. Lastly, the MEA region can witness high demand due to a surge in building & construction activities.

Industry/ Innovation/ Related News:

July 05, 2019 –--- Midwest Industrial Rubber (the US), a leading global supplier of lightweight conveyor belting and related components, announced the acquisition of another staple business in the belting industry in the country - Atlanta Belting Co. Inc. This is the company’s fifth acquisition in a row over the last 11 months, adding four additional branches, increasing its nationwide footprint to 28 total locations. It is a strategic acquisition aligned with the MIR’s growth plans to broaden its reach and capabilities in the region. Besides, four branches of Atlanta Belting align to its strategic mission of being close to its customers.

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