Industrial Rubber Market Is Expected To Reach Of $57.2 Billi...| MENAFN.COM

Tuesday, 31 January 2023 08:51 GMT

Industrial Rubber Market Is Expected To Reach Of $57.2 Billion And Growing At A 6.4% CAGR By 2032-End | PMR

(MENAFN- Ameliorate Digital Consultancy)

Industrial Rubber Market

In 2023, the market for industrial rubber market is expected to reach a value of $57.2 billion By the end of 2032, sales of industrial rubber are anticipated to grow at a 6.4% CAGR and total US$106.4 billion. A major driver of product demand is the rubber's diverse end-use sectors' promising expansion. A significant market trend is the expansion of production capabilities to meet the escalating demand for industrial rubber.

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Higher capacity for suppression and reusability of rubbers make them an ideal raw material for almost every other industry in the world. The versatile applicability of industrial rubbers keeps raking in billions of dollars, and also manages to save loses worth millions. From aerospace to automotive, Persistence Market Research's latest report on the global Industrial Rubber Market highlights key end-uses of rubber products across multiple industries.

The report reveals how years and years of surplus demand has led the global industrial rubber market towards its present value, which is estimated to be US$ 93,067.7 Mn. Much like the last decade, the global demand for industrial rubber is less likely to halt, and will bring in around US$ 167,935 Mn revenues by the end of 2026. During these years, the global market for industrial rubber has also been anticipated to soar at an impressive CAGR of 6.1%.

Cushioning rough surfaces and controlling incidence of abrasion-based damages makes adoption of rubber solutions quite practical for industries. By the end of 2026, nearly 55 million metric tons of industrial rubber will be consumed across the globe. In the report, titled“Industrial Rubber Market: Global Industry Analysis and Forecast, 2023-2026,” Persistence Market Research has attributed the market's growth to factors such as rising global construction output, soaring sales of industrial rubber through digital marketing, technological advancements improving large-scale production of industrial rubber, and effective application of industrial rubber in automotive as well as emerging industrial verticals.

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Although, global consumption of industrial rubber will remain at the mercy of fluctuating raw rubber prices and stringent environmental regulations regarding production, use & disposal of rubber products. The report also highlights the downtrend in global demand for natural rubber products.
In 2023 and beyond, industrial use of natural rubber is projected to slow down, procuring just over 37% of global market value. With respect to synthetic industrial rubbers, the global consumption of styrene butadiene rubber will be growing at 7% CAGR during the forecast period. Besides, the market is also likely to exhibit higher growth in demand for polybutadiene rubber, ethylene-propylene rubber and silicone rubber.

Leading manufacturers of industrial rubber include:

    • Lanxess AG
    • Dow Chemical Co.
    • E.I. duPont de Nemours & Company
    • Asahi Kasei Corporation
    • JSR Corporation
    • Exxon Mobil Corporation
    • Sumitomo Chemical Co. Ltd.
    • Denka Company Limited
    • Ube Industries Ltd.
    • and Zeon Corporation

Prominent manufacturers of industrial rubber products include: Bridgestone Corporation, Bando Chemical Industries, Ltd., Goodyear Tire & Rubber Corporation, Eaton Corporation, Trelleborg AB, Continental AG, Parker-Hannifin Corporation, Nichirin Co. Ltd., Yokohama Rubber Company Ltd., and Carlisle Companies Inc.

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The report reveals that a considerable portion of industrial rubber produced in the world will be processed through injection molding method. In 2023, more than US$ 37,189.5 Mn revenues were accounted by global sales of injection-molded industrial rubber. Higher adoption of injection molding will also lower the market presence of compression molding process. Meanwhile, industrial rubber obtained through extrusion process is likely to impose a consistent share on global market value – 34.2% – through 2026.

Automotive industry will indisputably be the largest end-user of industrial rubber in the world. Over 40% of global industrial rubber production is accounted by automotive & transportation businesses. Correspondingly, rampant production of automobiles makes the Asia-Pacific excluding Japan (APEJ) region the world's largest industrial rubber market. With over one-third share of global revenues, industrial rubber sold across the APEJ region is expected to bring in US$ 55,939.3 Mn in revenues by 2026-end. Meanwhile, industrial rubber revenues in the Middle East & Africa region will record a rampant growth by exhibiting a healthy CAGR of 6.6%.

Key Questions Answered in This Report

    • What will the Market growth rate in Future?
    • What are the key factors driving the global Market?
    • Who are the key manufacturers in Market space?
    • What are the opportunities and threats faced by the vendors in the global industry?
    • What are sales, revenue, and price analysis by regions of industry?

Table of Content of this Report:

    • Industrial Rubber Market Overview and Analysis [ Market Size | Market Y-o-Y Growth | Market Dynamics]
    • Industrial Rubber Market Overview and Analysis [ Supply Chain | Cost Structure | Pricing Analysis | Raw Material Sourcing Strategy and Analysis | List of Distributors]
    • Global Industrial Rubber Market Analysis and Forecast By Product Type
    • Global Industrial Rubber Market Analysis and Forecast By Application Type
    • Global Industrial Rubber Market Analysis and Forecast By Region [ Europe | North America | APAC | Middle East and Africa]
    • Global Industrial Rubber Market Company Share, Competition Landscape and Company Profiles Research Methodology
    • Secondary and Primary Sources
    • Assumptions and Acronyms

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About Us:

The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – 'The Way Forward'.

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