Industrial Rubber Market to grow at a moderate CAGR of 5% by 2030 | Fact.MR Report

Fact.MR's global industrial rubber market report offers an in-depth coverage on the growth landscape for the 2021-2031 assessment period. The report concludes that growth prospects for 2021 is expected to regain momentum, albeit gradually. Deceleration was experienced during Q2 & Q3 2020, by 4% and 3% respectively, while a 1% acceleration was witnessed in Q4. A CAGR exceeding 5% is projected through 2031.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗙𝗥𝗘𝗘 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝗧𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=S&rep_id=1710

In the past half-a-decade, the industrial rubber market exhibited a moderate expansion rate of 4%, on the back of mounting demand across key end use industries as tubes & tires, wires & cables, hoses, conveyor belts and gaskets & seals among others. Manufacturers are emphasizing on the production of synthetic rubber, attributed to its superior heat and abrasion resistance, enhanced tolerance to ozone and sunlight exposure and high malleability.

As the global automotive industry expands, the scope for industrial rubbers is set for further expansion. According to the International Energy Agency (IEA), global automotive sales reached 41 million units by H2 2020, with future sales expected to further proliferate, with a major tilt towards electric vehicle becoming evident. This is broadening the scope for allied industries such as tires, spare parts and other accessories.

"The global industrial rubber market is highly influenced by the fluctuating nature of the automotive industry, which is frequently rocked by price volatility. Therefore, manufacturers are constantly remodeling their business operations to accommodate the same," says a Fact.MR analyst"

𝗞𝗲𝘆 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆𝘀 𝗳𝗿𝗼𝗺 𝗙𝗮𝗰𝘁.𝗠𝗥'𝘀 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗥𝘂𝗯𝗯𝗲𝗿 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝘂𝗱𝘆

• Tires & tubes manufacturing to emerge as the primary industrial rubber application area
• By processing method, injection molding to garner credible momentum through 2031
• Automotive & transportation to register major uptake amongst all end-use industries
• US to capture an impressive revenue share amid extensive application in manufacturing tires, footwear and industrial goods
• UK to witness steady expansion, anticipated to register a strong CAGR in forthcoming years
• Germany and France to emerge strong, attributed to prolific advancements in automotive and industrial goods manufacturing
• China to emerge as a global industrial rubber production hub; Japan to exhibit promising prospects

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1710

𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗥𝘂𝗯𝗯𝗲𝗿 𝗠𝗮𝗿𝗸𝗲𝘁- 𝗣𝗿𝗼𝗺𝗶𝗻𝗲𝗻𝘁 𝗗𝗿𝗶𝘃𝗲𝗿𝘀

• Growing applications as polymer mortars to enhance waterproofing and bonding in the construction industry to boost industrial rubber sales
• Increasing automobile ownership across developing countries to widen applications in the automotive sector
• Manufacturers are tapping into the Indian, Brazilian, Malaysian and Thai markets as they are amongst the world's leading rubber producers

𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗥𝘂𝗯𝗯𝗲𝗿 𝗠𝗮𝗿𝗸𝗲𝘁- 𝗞𝗲𝘆 𝗥𝗲𝘀𝘁𝗿𝗮𝗶𝗻𝘁𝘀

• Increasing environmental concerns voiced by governments is restricting production of synthetic industrial rubber
• Adoption of tubeless tires in automobiles due to perceived benefits is expected to hinder applications in tire manufacturing

𝗞𝗲𝘆 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝗴𝗺𝗲𝗻𝘁𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱 𝗶𝗻 𝘁𝗵𝗲 𝗥𝗲𝗽𝗼𝗿𝘁

Product

• Natural Rubber
• Synthetic rubber
• Polybutadiene Rubber
• Butyl Rubber
• Nitrile Rubber
• Chloroprene Rubber
• Ethylene-propylene Rubber
• Silicone Rubber
• Others

Processing Method

• Injection Molding
• Compression Molding
• Extrusion
• Others

Application

• Tires & Tubes
• Hoses, Gaskets & Seals
• Conveyor Belts
• Wires & Cables
• Others

End-use Industry

• Automotive & Transportation
• Building & Construction
• Industrial Machinery & Equipment
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗟𝗮𝗻𝗱𝘀𝗰𝗮𝗽𝗲

JSR Corporation, Sumitomo Chemical Co. Ltd., ExxonMobil, Ube Industries Ltd., LANXESS, Asahi Kasei Corporation and Zeon Corporation are some prominent industrial rubber manufacturers profiled by Fact.MR. Besides these, numerous small-scale and medium-scale players operate in the landscape, rendering the market highly fragmented.

In March 2019, JSR Corporation developed a new styrene-butadiene copolymer rubber (SBR) material for automotive tires. This new material exhibits significantly improved mechanical strength, wear resistance and durability. The design has also proven useful in reducing CO2 emissions by improving fuel efficiency.
In June 2018, ExxonMobil unveiled a new manufacturing facility in Singapore to initiate production of hydrogenated hydrocarbon resin and halobutyl rubber with a capacity of 90,000 tons and 140,000 tons respectively on an annual basis.

𝗚𝗲𝘁 𝗖𝘂𝘀𝘁𝗼𝗺𝗶𝘇𝗮𝘁𝗶𝗼𝗻 𝗼𝗻 𝘁𝗵𝗶𝘀 𝗥𝗲𝗽𝗼𝗿𝘁: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1710

More Insights on the Industrial Rubber Market

Fact.MR, in its new offering, presents an unbiased analysis of the global industrial rubber market. The study divulges essential insights on the market on the basis of product (natural rubber and synthetic rubber), processing method (injection molding, compression molding, extrusion, and others) application (tires & tubes, hoses, gaskets & seals, conveyor belts, wires & cables, and others), and end-use industry (automotive & transportation, building & construction, industrial machinery & equipment, and others)

𝗖𝗵𝗲𝗰𝗸 𝗼𝘂𝘁 𝗺𝗼𝗿𝗲 𝗿𝗲𝗹𝗮𝘁𝗲𝗱 𝘀𝘁𝘂𝗱𝗶𝗲𝘀 𝗽𝘂𝗯𝗹𝗶𝘀𝗵𝗲𝗱 𝗯𝘆 𝗙𝗮𝗰𝘁.𝗠𝗥 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵: https://www.globenewswire.com/en/news-release/2022/09/26/2522615/0/en/Third-Generation-Advanced-High-Strength-Steel-Opening-Plethora-of-Opportunities-for-Manufacturers-Says-Fact-MR.html

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About Fact.MR

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This release was published on openPR.