Press release
From Durability to Performance: Industrial Rubber Market's Thriving Global Landscape and Impact on Diverse Industries
Industrial Rubber Market
The increased disposal and reusability of rubbers makes them an ideal raw material for almost every other industry in the world. The versatile applicability of industrial tires continues to bring in billions of dollars and also save millions in losses. From aerospace to automotive, Persistence Market Research's latest report on the global industrial rubber market highlights the key end uses of rubber products across different industries.
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The report reveals how years and years of surplus demand has led the global industrial rubber market towards its present value, which is estimated to be US$ 93,067.7 Mn. Much like the last decade, the global demand for industrial rubber is less likely to halt, and will bring in around US$ 167,935 Mn revenues by the end of 2026. During these years, the global market for industrial rubber has also been anticipated to soar at an impressive CAGR of 6.1%.
Cushioning rough surfaces and controlling the incidence of abrasion damage make adopting rubber solutions quite practical for industries. By the end of 2026, nearly 55 million tons of industrial rubber will be consumed worldwide. In the report, titled "Industrial Rubber Market: Global Industry Analysis and Forecast, 2016-2026," Persistence Market Research attributed the market growth to factors such as increased global construction output, increased sales of industrial rubber through digital marketing, technology improvement advances. the large-scale production of industrial rubber and the effective application of industrial rubber in the automotive industry, as well as emerging industrial verticals.
Although, global consumption of industrial rubber will remain at the mercy of fluctuating raw rubber prices and stringent environmental regulations regarding production, use & disposal of rubber products. The report also highlights the downtrend in global demand for natural rubber products.
In 2017 and beyond, industrial use of natural rubber is projected to slow down, procuring just over 37% of global market value. With respect to synthetic industrial rubbers, the global consumption of styrene butadiene rubber will be growing at 7% CAGR during the forecast period. Besides, the market is also likely to exhibit higher growth in demand for polybutadiene rubber, ethylene-propylene rubber and silicone rubber.
Leading manufacturers of industrial rubber include: Lanxess AG, Dow Chemical Co., E.I. duPont de Nemours & Company, Asahi Kasei Corporation, JSR Corporation, Exxon Mobil Corporation, Sumitomo Chemical Co. Ltd., Denka Company Limited, Ube Industries Ltd., and Zeon Corporation
Prominent manufacturers of industrial rubber products include: Bridgestone Corporation, Bando Chemical Industries, Ltd., Goodyear Tire & Rubber Corporation, Eaton Corporation, Trelleborg AB, Continental AG, Parker-Hannifin Corporation, Nichirin Co. Ltd., Yokohama Rubber Company Ltd., and Carlisle Companies Inc.
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The report reveals that a considerable portion of industrial rubber produced in the world will be processed through injection molding method. In 2020, more than US$ 37,189.5 Mn revenues were accounted by global sales of injection-molded industrial rubber. Higher adoption of injection molding will also lower the market presence of compression molding process. Meanwhile, industrial rubber obtained through extrusion process is likely to impose a consistent share on global market value - 34.2% - through 2026.
Automotive industry will indisputably be the largest end-user of industrial rubber in the world. Over 40% of global industrial rubber production is accounted by automotive & transportation businesses. Correspondingly, rampant production of automobiles makes the Asia-Pacific excluding Japan (APEJ) region the world's largest industrial rubber market. With over one-third share of global revenues, industrial rubber sold across the APEJ region is expected to bring in US$ 55,939.3 Mn in revenues by 2026-end. Meanwhile, industrial rubber revenues in the Middle East & Africa region will record a rampant growth by exhibiting a healthy CAGR of 6.6%.
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Key Segments Covered in Industrial Rubber Industry Research
Industrial Rubber Market by Rubber Type:
Natural Industrial Rubber
Synthetic Industrial Rubber
SBR
Polybutadiene Rubber
Butyl Rubber
Nitrile Rubber
Chloroprene Rubber
EPDM
Silicone Rubber
Others
Industrial Rubber Market by Processing Type:
Injection Melding
Compression Melding
Extrusion
Others
Industrial Rubber Market by End Use:
Automotive & Transportation
Marine
Aerospace and Aviation
Railways
Automobile
Building & Construction
Industrial Machinery & Equipment
Textiles & Fabrics
Others
Industrial Rubber Market by Region:
North America Industrial Rubber Market
Latin America Industrial Rubber Market
Europe Industrial Rubber Market
East Asia Industrial Rubber Market
South Asia Pacific Industrial Rubber Market
MEA Industrial Rubber Market
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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