The publisher unveils the robust growth trajectory of the global industrial rubber market. With sales soaring to US$ 60 billion in 2024, the market is anticipated to exhibit a notable expansion, reaching a staggering US$ 101 billion by the close of 2031. Anticipated year-over-year growth stands at 8.0%, with East Asia emerging as a pivotal regional market for industrial rubber suppliers.
Commercial Potential Unveiled: Industrial rubber emerges as a versatile material, finding applications across an extensive spectrum of industries including automotive, construction, electrical, and more. Tire manufacturing notably dominates the market, consuming over 40% of global rubber production. The remarkable rise in automobile sales is poised to further propel tire demand, driving market growth in the coming years.
Automotive Industry Dynamics: The automotive industry, experiencing a healthy growth trajectory, stands as a significant driver of industrial rubber demand. With passenger vehicle sales surpassing one and a half million units annually and the global automotive part manufacturing market valued at US$ 2.86 trillion in 2021, the industry is set to maintain its dominance in rubber consumption. The surge in new automotive sales, particularly in leading regions like China and the United States, augurs well for market expansion.
Environmental Considerations: While the market outlook remains optimistic, environmental concerns loom large. Chemical emissions and pollution stemming from rubber manufacturing pose significant challenges. Regulatory measures aimed at curbing emissions and environmental footprints are tightening globally, necessitating sustainable solutions from rubber manufacturers to align with evolving standards.
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Commercial Potential Unveiled: Industrial rubber emerges as a versatile material, finding applications across an extensive spectrum of industries including automotive, construction, electrical, and more. Tire manufacturing notably dominates the market, consuming over 40% of global rubber production. The remarkable rise in automobile sales is poised to further propel tire demand, driving market growth in the coming years.
Automotive Industry Dynamics: The automotive industry, experiencing a healthy growth trajectory, stands as a significant driver of industrial rubber demand. With passenger vehicle sales surpassing one and a half million units annually and the global automotive part manufacturing market valued at US$ 2.86 trillion in 2021, the industry is set to maintain its dominance in rubber consumption. The surge in new automotive sales, particularly in leading regions like China and the United States, augurs well for market expansion.
Environmental Considerations: While the market outlook remains optimistic, environmental concerns loom large. Chemical emissions and pollution stemming from rubber manufacturing pose significant challenges. Regulatory measures aimed at curbing emissions and environmental footprints are tightening globally, necessitating sustainable solutions from rubber manufacturers to align with evolving standards.
Country-Wise Analysis:
- United States: The United States is a notable consumer in the industrial rubber market, expected to grow significantly by 2031. This growth is driven by increasing demand across sectors such as building & construction, electrical & electronics, and healthcare, as well as the rise of electric and autonomous vehicles.
- China: As the world's second-largest economy, China is poised to lead global industrial rubber consumption and production. The country's burgeoning automotive, construction, and industrial manufacturing sectors are driving substantial demand, with significant contributions to both consumption and production of rubber.
Category-Wise Insights:
- Synthetic Industrial Rubber: Synthetic rubber emerges as the preferred option, capturing a significant share of the market, especially in developing countries. Its versatility and performance advantages, particularly in high-performance tire manufacturing, position it for significant growth in the coming years.
- Infrastructure Development: Rising infrastructure development, particularly in developing nations, is a key driver of market growth. Construction projects worldwide are driving demand for a diverse range of rubber products, from bearings to expansion joints, presenting lucrative opportunities for market players.
- Asahi Kasei Corporation
- Exxon Mobil Corporation
- Greenville Industrial Rubber & Gasket Co.
- Eni S.p.A.
- Kraton Corporation
- BRP Manufacturing
- Sinopec Corporation
- JSR Corporation
- Sumitomo Chemical Co. Ltd
- Denka Company Limited
- Ube Industries, Ltd.
- Zeon Corporation
- Bridgestone Corporation
- Goodyear Tire & Rubber Corporation
- Ansell Limited
- Kossan Rubber Industries Bhd
- Yokohama Rubber Company Ltd.
- Tokyo Zairyo Co., Ltd.
- Kuraray Co., Ltd
- Kumho Polychem
- LG Chem Ltd
- Industrial Rubber & Gasket Inc
- Indag Rubber Limited
- Harrisons Malayalam LTD
- GRP Ltd
- Bangkok Synthetics Co., Ltd. (BST)
- Assco, s.r.o.
- SIBUR
- DuPont de Nemours, Inc.
Key Segments Covered in Industrial Rubber Market
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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Table of Contents
1. Executive Summary
2. Market Overview
3. Production Output and Trade Statistics, 2018-2023
4. Global Industrial Rubber Market Outlook, 2018 - 2031
5. North America Industrial Rubber Market Outlook, 2018 - 2031
6. Europe Industrial Rubber Market Outlook, 2018 - 2031
7. Asia Pacific Industrial Rubber Market Outlook, 2018 - 2031
8. Latin America Industrial Rubber Market Outlook, 2018 - 2031
9. Middle East & Africa Industrial Rubber Market Outlook, 2018 - 2031
10. Competitive Landscape
11. Appendix
Companies Mentioned
- DuPont de Nemours, Inc.
- Asahi Kasei Corporation
- Exxon Mobil Corporation
- Greenville Industrial Rubber & Gasket Co.
- Eni S.p.A.
- Kraton Corporation
- BRP Manufacturing
- Sinopec Croporation
- JSR Corporation
- Sumitomo Chemical Co. Ltd
- Denka Company Limited
- Ube Industries, Ltd.
- Zeon Corporation
- Bridgestone Corporation
- Goodyear Tire & Rubber Corporation
- Ansell Limited
- Kossan Rubber Industries Bhd
- Yokohama Rubber Company Ltd.
- Tokyo Zairyo Co., Ltd.
- Kuraray Co., Ltd
- Kumho Polychem
- LG Chem Ltd
- Industrial Rubber & Gasket Inc
- Indag Rubber Limited
- Harrisons Malayalam LTD
- GRP Ltd
- Bangkok Synthetics Co., Ltd. (BST)
- Assco, s.r.o.
- SIBUR
Methodology
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