Press release
Rubber Products Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033
The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033The Business Research Company offers in-depth market insights through Rubber Products Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The rubber products market size has grown strongly in recent years. It will grow from $398.29 billion in 2023 to $424.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to automotive industry growth, industrialization and manufacturing, tire industry evolution, consumer goods manufacturing, healthcare sector growth, elasticity and versatility of rubber.
The rubber products market size is expected to see strong growth in the next few years. It will grow to $536.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to focus on sustainable and recyclable materials, smart and intelligent rubber products, infrastructure investments, renewable energy sector growth, advanced sealing solutions. Major trends in the forecast period include smart rubber technologies, customized rubber solutions, rubber recycling, 3d printing of rubber components, innovations in rubber formulations.
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Market Segmentation:
The rubber products market covered in this report is segmented -
1) By Type: Tire, Hoses And Belting, Other Rubber Product
2) By Process: Molded, Extruded, Fabricated, Latex-based, Other Processes
3) By End-User Industry: Construction & Infrastructure, Automotive, Electrical & Electronics, Other End Users
Subsegments Covered: Radial Tires, Bias Tires, Rubber Hoses, Rubber Belts
Major Driver - Continued Market Growth Driven By Technological Advancements
Technological advancement is expected to be a continued driver of market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period. For example, technologies such as Green Tires, where 20-30% of a vehicle's fuel consumption is related to tire performance, took off during this period. Green Tires offer wet grip, durability and low rolling resistance, reducing fuel consumption by 5-7%. Thus, technological advancement which enabled improved performance, reduced fuel consumption contributed to the market growth.
Competitive Landscape:
Major companies operating in the rubber products market report are U.S. Rubber Supply Co., KA-Glove, Allstates Rubber & Tool Corp., Continental AG, Bridgestone Corporation, The Michelin Group, The Goodyear Tire & Rubber Company, GRT Rubber Technologies, Quick Cut Gasket & Rubber Corp., Yokohama Rubber Company Ltd., Hankook Tire & Rubber Co. Ltd., Toyota Tsusho Corp., Pirelli & C SpA, Trelleborg AB, Toyo Tire & Rubber Co. Ltd., Sri Trang Agro-Industry plc, Cooper Tire & Rubber Company, Southland Global, Myers Industries Inc., Alliance Rubber, HBD Industries Inc., Sumitomo Rubber Group, Ceyenar Chemicals, Thai Hua Rubber PCL, Goodyear Rubber Company of Southern California, Soucy Baron Inc., Redwood Plastics and Rubber, THAI RUBBER LATEX GROUP PUBLIC COMPANY LIMITED, Duratuf Products Private Limited, Von Bundit Co. Ltd., Rolex Reclaim Pvt. Ltd., AirBoss Rubber Solutions,
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Top Trend - Adoption Of Computer Simulation And 3D Printing On Rubber Product Manufacturing
Computer simulation and 3D printing technology is expected to have a significant impact on the rubber product manufacturing industry. An increasing number of companies are adopting 3D technology to design and develop rubber products. Software aided system offers 3D presentations on production line processes, including potential fault lines and also provides control on the manufacturing process. For example, Stratasys develops 3D printing technologies to produce automotive tires that can be customized to different levels of hardness, and elongation.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Rubber Products Market Characteristics
3. Rubber Products Market Trends And Strategies
4. Rubber Products Market - Macro Economic Scenario
5. Rubber Products Market Size And Growth
…..
27. Rubber Products Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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