Industrial Rubber Market Analysis 2023: Share, Sales Statistics, Revenue, Cost Module and Business Growth By 2028

PRESS RELEASE

Published April 11, 2023

Industrial Rubber Market Outlook 2023-2028:

IMARC Group’s latest report, titled “Industrial Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the industrial rubber market Share. The report also includes competitor and regional analysis, and contemporary advancements in the market. the global industrial rubber market size reached US$ 28.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 36.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.

Industrial Rubber Uses:

Industrial rubber, also referred to as natural or synthetic rubber, has widespread availability in the form of molds, sheets, and pieces that are used for making roofs, belts, hoses, mechanical products, etc. It offers several advantages, including friction, permeation, strength, conductivity, longevity, water, heat resistance, etc. Industrial rubber is utilized in manufacturing tires for vehicles, aircraft, and bicycles owing to the elasticity, resilience, and toughness of the product. In addition, it finds extensive applications across various sectors, such as construction, automotive, electrical, etc.

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Competitive Landscape with Key Players:

Asahi Kasei Corporation
Braskem
Bridgestone Corporation
Denka Company Limited
Lanxess AG
LG Chem Ltd
The Goodyear Tire and Rubber Company
Trinseo PLC
TSRC Corporation
UBE Corporation
Yokohama Rubber Co. Ltd
Zeon Corporation

Rubber Manufacture:

The escalating product demand in the production of joints, gaskets, seals, etc., on account of high durability and corrosion-resistance properties, is among the primary factors driving the industrial rubber market. Besides this, the launch of several policies by the government bodies across countries to invest in the construction of airports, highways, metros, smart city projects, etc., is further augmenting the market growth. Moreover, the elevating requirement for industrial rubber as an adhesive for lamination, ceramic and plastic tile attachments, carpentry, etc., is also catalyzing the global market.

Apart from this, the rising product usage in conveyor belts to transport commodities in a straight line or through elevation changes is acting as another significant growth-inducing factor. In addition to this, the increasing utilization of this substance in the manufacturing of molded household items is also stimulating the market growth. Furthermore, the inflating investments in research and development (R&D) activities for the development of innovative products are expected to bolster the industrial rubber market in the coming years.

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Key Market Segmentation:

Breakup by Type:

Natural Rubber
Synthetic Rubber

Breakup by Product:

Mechanical Rubber Goods
Rubber Hose
Rubber Belt
Rubber Roofing
Others

Breakup by End Use Industry:

Automotive
Construction
Manufacturing
Electrical and Electronics
Others

Breakup by Region:

North America (United States, Canada)
Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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