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Industrial Rubber Market Insights 2025-2034: Growth Forecast and Strategic Priorities
Industrial Rubber Market
Industrial Rubber Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
Over recent years, the market size of industrial rubber has seen robust growth. The market is projected to expand from $44.58 billion in 2024 to $47.61 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. The historic growth period can be accredited to factors such as increased industrialization, expansion of the automotive industry, a surge in construction activities, advancements in the field of material science, along with improving safety and performance requirements.
Industrial Rubber Market Size Forecast: What's the Projected Valuation by 2029?
In the coming years, significant growth is predicted for the industrial rubber market. Its size is predicted to grow at a compound annual growth rate (CAGR) of 7.2%, reaching $62.95 billion by 2029. The increase during this forecast period can be attributed to factors like customization and innovation, optimization of the supply chain, use in the healthcare and medical sectors, integration with industry 4.0, and advances in material science. Compliance with regulatory standards, strategic partnerships, product innovations, and superior material technologies are among the major trends anticipated in the forecast period.
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What Are the Drivers Transforming the Industrial Rubber Market?
Progress in the automotive sector is anticipated to fuel the growth of the industrial rubber market. This sector encompasses industries engaged in fabrication, wholesale, retail, and vehicle repair. As personal purchasing power continues its upward trajectory due to an improving standard of living and robust economies, demand for things like personal mobility escalates, a trend only intensified by the economic consequences of the coronavirus pandemic. Furthermore, as the world grapples with climate change and strives for zero emissions, the adoption of eco-friendly transportation modes is gaining momentum. This has resulted in an escalated production of electric and hybrid vehicles, which in turn, increases the production and demand for industrial rubber, an integral element in manufacturing various vehicle parts. For instance, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based global association of vehicle manufacturers, reported that in 2022, there was a significant growth in the global automotive sector, exemplified by the production of 84.83 million units, marking a substantial advance from the 80 million units produced the previous year. This represents a 6% annual growth, illustrating the resilience of the sector and its ability to recover in challenging economic conditions. Hence, this uptick in the automotive sector is set to benefit the industrial rubber market.
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What Long-Term Trends Will Define the Future of the Industrial Rubber Market?
Advancements in technology are emerging as a significant trend in the industrial rubber market. In order to maintain their standing in the market, major corporations involved in this sector are incorporating new product lines and technologies, focusing particularly on those that are environmentally friendly and sustainable. For example, Global Rubber Industries (GRI), a tire production company situated in Sri Lanka, released the Green XLR Earth series of radial agricultural tires in August 2022. This innovative product, the first of its kind in the agricultural sector, is created using sustainable technology and consists 37.5% of sustainable materials. The tires are manufactured with a substantial amount of recycled carbon black to decrease its carbon footprint. Moreover, they include soybean oil, a renewable, sustainable ingredient, which enhances the natural rubber's inherent qualities resulting in an improved overall tire performance.
Which Segments in the Industrial Rubber Market Offer the Most Profit Potential?
The industrial rubber market covered in this report is segmented -
1) By Rubber Type: Natural Industrial Rubber, Synthetic Industrial Rubber
2) By Processing Type: Injection Melding, Compression Melding, Extrusion, Others Processing
3) By Product: Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others Products
4) By Application: Automotive, Building And Construction, Industrial Manufacturing, Polymer Modification, Wire And Cable, Electrical And Electronics, Bitumen Modification, Coating, Sealant, And Adhesive, Medical And Healthcare, Others Applications
Subsegments:
1) By Natural Industrial Rubber: Ribbed Smoke Sheet (RSS), Technically Specified Rubber (TSR), Crepe Rubber, Liquid Natural Rubber
2) By Synthetic Industrial Rubber: Styrene-Butadiene Rubber (SBR), Ethylene Propylene Diene Monomer (EPDM), Neoprene, Nitrile Rubber (NBR), Butyl Rubber, Polyurethane Rubber
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Which Firms Dominate the Industrial Rubber Market by Market Share and Revenue in 2025?
Major companies operating in the industrial rubber market are LANXESS AG, Bridgestone Corporation, Taiwan Synthetic Rubber Corporation, JSR Corporation, Zeon Corporation, LG Chem Co. Ltd., Toyo Tire & Rubber Co. Ltd., The Yokohama Rubber Co. Ltd., Kumho Petrochemical Co. Ltd., Cooper-Standard Holdings Inc., The Gates Corporation, Asahi Kasei Corporation, Exxon Mobil Corporation, Continental AG, Greenville Industrial Rubber & Gasket Co. Inc., ITT Corporation, Mitsubishi Chemical Corporation, NOK Corporation, Parker Hannifin Corporation, Pirelli & C. S.p.A., PolyOne Corporation, Qingdao Huahan Machinery Co. Ltd., R.D. Abbott Company Inc., Rubberlite Inc., Saint-Gobain S.A., Shin-Etsu Chemical Co. Ltd., Sumitomo Riko Company Limited, Trelleborg AB, Trinseo S.A.
Which Regions Offer the Highest Growth Potential in the Industrial Rubber Market?
Asia-Pacific was the largest region in the industrial rubber market share in 2024. The regions covered in the industrial rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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