Rubber has long been utilized in the production of diverse products. It encompasses various polymers with strength and lightness, capable of being stretched and returning to their original shape upon release. Initially sourced from the sap of Central American hevea plants, natural rubber continues to be employed alongside technologically advanced methods that have led to the development of synthetic rubber. Inspired by natural rubber, synthetic rubber is a man-made alternative that combines different chemicals with distinct qualities.
According to Data Bridge Market Research, the Industrial Rubber Market is expected to grow with a CAGR of 5.4% in the forecast period of 2022 to 2029.
“Increasing usage of rubber in the tyre manufacturing industry drives market”
The industrial rubber market is experiencing growth due to the increasing usage of rubber in the tire manufacturing industry. As the demand for tires rises across various sectors, such as automotive, transportation, and aviation, there is a subsequent surge in the demand for industrial rubber. Rubber is a vital component in tire production, offering essential properties like durability, flexibility, and resistance to wear and tear. This increasing adoption of rubber in the tire manufacturing industry is a significant driver fuelling the growth of the industrial rubber market.
What restraints the growth of the industrial rubber market?
“Strict environmental regulations hamper the market”
Strict environmental regulations are constraining the growth of the industrial rubber market. With increasing concerns about pollution and sustainability, regulatory bodies have imposed stringent guidelines on the manufacturing and using rubber products. These regulations aim to minimize rubber production's environmental impact, including waste management, emissions, and disposal of used rubber products. Compliance with these regulations requires additional investments in eco-friendly technologies and processes, which can pose challenges and hinder the growth of the industrial rubber market. Industry players must adapt to these regulations and implement sustainable practices to overcome this restraint.
Segmentation: Industrial Rubber Market
The industrial rubber market is segmented on the basis of type, product and application.
- On the basis type, the industrial rubber market has been segmented into synthetic rubber and natural rubber.
- On the basis of product, the industrial rubber market has been segmented into mechanical rubber good, rubber hose, rubber belt, rubber roofing, and others.
- On the basis of application, the industrial rubber market has been segmented into automotive, building and construction, industrial manufacturing, polymer modification, wire and cable, electrical and electronics, and bitumen modification.
Regional Insights: Asia-Pacific Dominates the Industrial Rubber Market
Asia-Pacific dominates the industrial rubber market and the dominance of the industrial rubber market is expected to continue flourishing in the forecast period driven by factors such as rapid urbanization, increased construction activities, and growing demand from industries like automobile and chemical. Nations like India and China exhibit high demand for industrial rubber across various sectors including building and construction, automotive, and industrial manufacturing. These factors collectively contribute to the sustained growth and market demand for industrial rubber in the coming years.
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The Prominent Key Players Operating in the Industrial Rubber Market Include:
- LANXESS (Germany)
- U.S. Rubber (U.S.)
- TSRC (Taiwan)
- Nizhnekamskneftekhim (Russia)
- JSR Corporation (Japan)
- LG Chem (South Korea)
- Versalis S.p.A. (Italy)
- ZEON Corporation (Japan)
- Ansell Ltd (Australia)
- Asahi Kasei Advance Corporation (Japan)
- Sri Trang Agro-Industry Plc. (Thailand)
- Dow (U.S.)
- Cooper Standard (U.S.)
- NISHIKAWA RUBBER CO., LTD. (Japan)
- Continental AG (Germany)
- THAI RUBBER LATEX CORPORATION (Thailand)
- Trinseo (U.S.)
- Bridgestone Corporation (Japan)
- Exxon Mobil Corporation (U.S.)
- MICHELIN (France)
- Freudenberg Group (Germany)
- The Goodyear Tire and Rubber Company (U.S.)
- HEXPOL AB (Sweden)
- Gates Corporation (U.S.)
- NOK CORPORATION (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of industrial rubber market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Industrial Rubber Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
