Rubber Market

Market Overview:

The global rubber market size reached US$ 42.97 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.45 Billion by 2028, exhibiting a growth rate (CAGR) of 4.87% during 2023-2028. The increasing sales of luxury vehicles, rising number of construction projects, and the advent of smart rubber materials represent some of the key factors driving the market.

Rubber is a natural polymer made synthetically from the sap of the hevea brasiliensis tree. It is composed of polyisoprene and contains other materials, such as proteins, resins, and inorganic materials. It offers elasticity, durability, low density, high tensile strength, and resistance to water and chemical. It is also capable of stretching and returning to its original shape without permanent deformation. It is used in the production of conveyor belts to transport products in a straight line or through changes in elevation. It is also utilized in the manufacturing of footwear like soles and boots to provide cushioning and support for the feet. At present, the growing participation of individuals in recreational activities and fitness like basketball, soccer, and tennis is catalyzing the demand for rubber in producing several sports equipment across the globe.

Rubber Market Trends:

Rubber is employed in the automotive industry to manufacture numerous vehicle components, such as tires, hoses, seals, gaskets, belts, engines, and exhaust systems, to improve the performance and durability of the vehicle. This, coupled with increasing sales of luxury vehicles on account of rapid urbanization and inflating income levels, represents one of the major factors strengthening the market growth around the world. Moreover, there is a rise in the adoption of rubber in the construction industry for roofing, waterproofing, flooring, soundproofing, and insulation. This, along with the growing number of construction projects in the residential, commercial, and industrial areas, is influencing the market positively. In addition, there is an increase in the use of rubber in the production of various medical equipment and devices, including respirators, face masks, and gowns on account of their numerous advantages. Rubber is also utilized in manufacturing orthotics and prosthetics like braces and supports for joints and limbs. This, in confluence with the rising usage of rubber in making disposable and reusable medical gloves that are worn by healthcare professionals to protect themselves and their patients from infection, is propelling the growth of the market. Apart from this, the advent of smart rubber materials that are integrated with advanced technologies, such as sensors, actuators, microcontrollers, and communication systems, is contributing to the market growth. These advancements help detect changes in the environment, send signals, and change the shape or stiffness of the rubber.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global rubber market, along with forecasts at the global, regional, and country level from 2023-2028. Our report has categorized the market based on type and application.

Type Insights:

• Synthetic Rubber
• Natural Rubber
   

The report has provided a detailed breakup and analysis of the rubber market based on the type. This includes synthetic rubber and natural rubber. According to the report, synthetic rubber represented the largest segment.

Application Insights:

• Tire
• Non-Tire Automotive
• Footwear
• Industrial Goods
• Others
   

A detailed breakup and analysis of the rubber market based on the application has also been provided in the report. This includes tire, non-tire automotive, footwear, industrial goods, and others. According to the report, tire accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa. According to the report, Asia Pacific was the largest market for rubber. Some of the factors driving the Asia Pacific rubber market included the increasing sales of luxury vehicles, rising demand for tires, incorporation of advanced technologies, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global rubber market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have also been provided. Some of the companies covered include Arlanxeo (Saudi Arabian Oil Co.), Kumho Petrochemical Co. Ltd., LG Chem Ltd., Southland Holdings LLC, Sri Trang Agro-Industry Plc, TSRC Corporation, Unitex Rubber Co. Ltd., Vietnam Rubber Group, Von Bundit Co. Ltd., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the rubber market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global rubber market.
• The study maps the leading as well as the fastest growing regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the rubber industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and  provides an insight into the current positions of key players in the market.