The market for industrial rubber is anticipated to reach a value of US$ 36.3 billion in 2023 and is projected to expand at a CAGR of 5.5% from 2023 to 2033.
Industrial rubber has a variety of special qualities that make it very attractive for usage in a wide range of end-use industries, including the construction and automotive sectors. Rubber is renowned for having exceptional elasticity, flexibility, and resilience that enable it to deform and regain its shape under stress. Rubber is the best material for sealing, vibration damping, shock absorption, and providing a dependable barrier against fluids, gases, and electrical conductivity because of these characteristics.
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Industrial rubber is a versatile substance that is processed and designed to satisfy particular needs. It is versatile for a broad variety of applications across numerous sectors since it can be moulded, extruded, or manufactured into varied shapes, sizes, and combinations. Rubber products can be made to survive harsh weather, chemicals, mechanical pressures, and severe temperatures, increasing their utility in a variety of settings.
A significant user of industrial rubber goods is the automotive industry. The need for industrial rubber parts such tyres, seals, hoses, and belts is anticipated to increase as the automotive industry continues to rise as a result of rising vehicle production and the desire for electric and autonomous vehicles, which will propel the industrial rubber market.
Key Takeaways from Market Study
- According to Fact.MR, the size of the world’s industrial rubber market in 2022 was US$ 34.4 billion.
- According to estimates, the size of the industrial rubber industry will reach US$62.0 billion by 2033.
- The industrial rubber market is anticipated to grow at a 5.5% CAGR from 2023 to 2033.
- Compared to other industries, use in automobiles accounts for a large portion of industrial rubber production.
- The largest market share for industrial rubber is held by synthetic rubber.
In comparison to natural rubber, synthetic rubber, such as styrene-butadiene rubber (SBR), butadiene rubber (BR), and ethylene propylene diene monomer (EPDM), is frequently more economical. Because synthetic rubber is produced in higher numbers and with greater consistency, its supply and price are stable. Synthetic rubber is a desirable option for many industries, including manufacturing, construction, and the automotive. This cost advantage.
Additionally, in some applications, synthetic rubber outperforms natural rubber in terms of performance qualities. Synthetic rubbers are more resistant to chemicals, oils, heat, and weathering because they can be customised to fit specific needs. They are suitable for demanding applications in automotive seals, industrial hoses, gaskets, and belts because they frequently demonstrate superior tensile strength, abrasion resistance, and durability.
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Market Growth Stratagems
In order to satisfy consumer wants and meet market needs, manufacturers concentrate on creating new and enhanced rubber products. In order to improve the usefulness, performance, and durability of the product, research and development must be funded. Other examples of innovation include the creation of environmentally safe and long-lasting rubber materials or the incorporation of cutting-edge technology into rubber goods.
Key Companies Profiled
- JSR Corporation
- Sumitomo Chemical Co. Ltd
- ExxonMobil
- Ube Industries, Ltd
- LANXESS
- Asahi Kasei Corporation
- Zeon Corporation
Key Market Segments Covered in the Report
Product
- Natural Rubber
- Synthetic rubber
- Polybutadiene Rubber
- Butyl Rubber
- Nitrile Rubber
- Chloroprene Rubber
- Ethylene-propylene Rubber
- Silicone Rubber
- Others
Processing Method
- Injection Molding
- Compression Molding
- Extrusion
- Others
Application
- Tires & Tubes
- Hoses, Gaskets & Seals
- Conveyor Belts
- Wires & Cables
- Others
End-use Industry
- Automotive & Transportation
- Building & Construction
- Industrial Machinery & Equipment
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the industrial rubber market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of product (natural rubber, synthetic rubber (polybutadiene, butyl, nitrile, chloroprene, ethylene-propylene, silicone, and others)), processing method (injection molding, compression molding, extrusion, and others), application (tires & tubes, hoses, gaskets & seals, conveyor belts, wires & cables, and others), end-use industry (automotive & transportation, building & construction, industrial machinery & equipment, and others), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).
Key Questions Covered in the Industrial Rubber Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Industrial Rubber sales grow until 2033?
- Which are the factors hampering the Industrial Rubber demand?
- Which region will spearhead the growth in the global industry by 2033?
- Which are the factors driving sales in the Industrial Rubber Market during the forecast period?Contact:
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