Industrial Rubber Market
Industrial Rubber Market Analysis By Product (Natural Rubber, Synthetic Rubber), By Processing Method (Injection Molding, Compression Molding, Extrusion), By Application & By End-use Industry - Global Market Insights 2023 to 2033
Analysis of Industrial Rubber Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Industrial Rubber Market Growth Outlook (2023 to 2033)
Based on the analysis by Fact.MR, the global industrial rubber market is valued to be US$ 36.3 billion in 2023 and it is expected to grow at a CAGR of 5.5% to reach US$ 62.0 billion by the end of 2033.
Industrial rubber products are made from natural rubber or synthetic rubber compounds and are designed to provide specific properties such as flexibility, durability, resistance to chemicals and weathering, insulation, and vibration control.
The industrial rubber market is growing due to the demand from diverse end-use industries such as automotive, construction, manufacturing, oil and gas, aerospace, and healthcare. These industries rely on rubber products for applications such as tires, seals, gaskets, hoses, belts, conveyor belts, and O-rings.
Industrial Rubber Market Size (2022A)
US$ 34.4 Billion
Estimated Market Value (2023E)
US$ 36.3 Billion
Forecasted Market Value (2033F)
US$ 62.0 Billion
Global Market Growth Rate (2023-2033)
Key Companies Profiled
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Historic and Future Pathway Analysis for the Industrial Rubber Market
Industrial rubber have high demand across numerous end-use industries. With the rising demand for customization and shifting consumer preference towards sustainability in the industrial rubber market, manufacturers are developing eco-friendly rubber products by incorporating recycled rubber, using bio-based materials, and reducing the environmental impact of production processes. This trend aligns with the industry's focus on reducing waste, carbon emissions, and dependence on non-renewable resources.
- Short Term (2023-2026): The growing use of industrial rubber in the making of medical devices such as surgical devices, belts for beds, chairs, and others is expected to boost the market growth.
- Medium Term (2026-2029): Growing demand from the building and construction industry along with the automotive industry in the Asia Pacific region creates a profitable opportunity for the market to grow.
- Long Term (2029-2033): Product innovation and enhancement of distribution channels coupled with other efforts led by the market players to increase their share in the market is likely to drive the industrial rubber market in the long run.
According to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 5.5% CAGR between 2023 and 2033.
Market Dynamics Outlook
“Increasing Demand from the Construction Industry to Drive Industrial Rubber Market Growth”
The construction industry plays a vital role in developing and maintaining infrastructure such as buildings, roads, bridges, tunnels, airports, and railways. Industrial rubber products are widely used in construction applications, including sealing systems, waterproofing membranes, expansion joints, roofing materials, flooring solutions, and vibration isolation systems.
The demand for industrial rubber in construction arises from the need for durable, weather-resistant, and high-performance materials that can withstand various environmental conditions.
Governments worldwide are investing in infrastructure development and construction projects to support economic growth. Public investments in transportation systems, residential housing, public facilities, and sustainable infrastructure drive the demand for industrial rubber products. Additionally, government regulations and standards related to building codes, energy efficiency, and environmental sustainability influence the use of industrial rubber in construction.
These factors collectively contribute to the growing demand for industrial rubber in the construction industry. Industrial rubber manufacturers benefit from the expanding construction market by supplying a wide range of rubber products that offer durability, safety, sustainability, and performance in various construction applications.
“Release of Toxic Gas During Rubber Production Restrict the Growth of the Market”
Factors hindering the growth of the global industrial rubber market are health risks and harmful emissions from industrial rubber production.
The release of toxic gases such as carbon monoxide, carbon dioxide, and other harmful gases during the manufacturing of industrial rubber is restraining market growth. Overexposure to polybutadiene affects the central nervous system and can cause dizziness, blurred vision, and other diseases. All these factors are restraining the growth of the industrial rubber market.
Chemicals used in the production of industrial rubber are acrylonitrile, sodium perborate, hydrogen peroxide, and other chemicals that are toxic to humans. if inhaled it can cause irritation to the nose, throat, and lungs and if it comes in contact with the skin it can cause irritation and is considered carcinogenic.
Strict environmental regulations have led to restrictions on the production of certain types of industrial rubber. The Environmental Protection Agency (EPA) has identified rubber processing, rubber product manufacturing facilities, and sealant applications as major sources of hazardous air pollutants (HAP).
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How Does Germany’s Automotive Industry Growth Drive Industrial Rubber Market?
Germany is known for its strong automotive manufacturing sector. The country is home to renowned automobile manufacturers such as Volkswagen, BMW, Mercedes-Benz, and Audi. These companies, along with their extensive supply chains, contribute to significant demand for industrial rubber products. Rubber components are used in various parts of vehicles, including tires, seals, gaskets, hoses, belts, and vibration control systems.
The German automotive industry places a strong emphasis on quality and precision engineering. Industrial rubber manufacturers in Germany are known for producing high-quality rubber products that meet stringent industry standards and customer requirements. The automotive manufacturer's demand for reliable and durable rubber components drives the need for specialized rubber formulations and advanced manufacturing processes.
Hence, the growing automotive industry in Germany creates a strong demand for industrial rubber products.
Why Chinese market is Lucrative for Industrial Rubber Manufacturers?
China has the world's largest population, with a growing middle class and increasing urbanization. This translates into a large consumer base and a robust demand for various industries, including automotive, construction, manufacturing, and infrastructure development. The sheer size of the Chinese market offers significant opportunities for industrial rubber manufacturers to expand their customer base and increase sales.
Further, China is known as the "world's factory" due to its strong manufacturing sector. The country has a vast industrial base, including automotive manufacturing, electronics, machinery, and construction. These industries heavily rely on industrial rubber for applications such as tires, seals, gaskets, hoses, belts, and various rubber components.
The continuous growth and development of these sectors create a high demand for industrial rubber products. Hence, with the growing end-use industries the demand for industrial rubber is likely to increase in the coming years.
Why is Synthetic Rubber Gaining Popularity?
Synthetic rubber, such as styrene-butadiene rubber (SBR), butadiene rubber (BR), and ethylene propylene diene monomer (EPDM), is often more cost-effective compared to natural rubber. Synthetic rubber is produced in large quantities and with greater consistency, leading to stable pricing and availability. This cost advantage makes synthetic rubber an attractive choice for various industries, including automotive, construction, and manufacturing.
Additionally, synthetic rubber offers enhanced performance characteristics compared to natural rubber in certain applications. Synthetic rubbers can be tailored to meet specific requirements, allowing for better resistance to chemicals, oils, heat, and weathering. They often exhibit higher tensile strength, abrasion resistance, and durability, making them suitable for demanding applications in automotive seals, industrial hoses, gaskets, and belts.
Why is Automotive Industry Witnessing a High Demand for Industrial Rubber?
The automotive industry is witnessing a high demand for industrial rubber due to the growing demand for tires, sealing and gaskets, and others.
Tires are a significant component of the automotive industry, and they heavily rely on industrial rubber. Rubber compounds are used to manufacture tire treads, sidewalls, and inner liners, providing essential properties such as grip, traction, durability, and resistance to wear. With the increasing production of vehicles worldwide, the demand for tires and the corresponding industrial rubber materials is consistently high.
Further, industrial rubber plays a crucial role in sealing applications within the automotive sector. Rubber seals and gaskets are used in various areas of vehicles, such as engines, transmissions, doors, windows, and hoods, to prevent leakage of fluids, air, and noise.
These rubber components provide effective sealing, vibration dampening, and thermal insulation, contributing to the overall performance, comfort, and safety of automobiles. Such factors are likely to drive the industrial rubber market in coming years due to the growing automotive industry.
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Eminent Players Key Stratagems
Prominent industrial rubber manufacturers are Asahi Kasei Corporation, ExxonMobil, JSR Corporation, LANXESS, Sumitomo Chemical Co. Ltd, Ube Industries, Ltd, and Zeon Corporation
Industrial rubber manufacturers are focusing on strategic partnerships or collaborations with suppliers, research institutions, or other companies in the value chain. This allows them to access new technologies, resources, or market channels. Collaborations to facilitate knowledge exchange and promote innovation in the industry.
- In May 2022, Minnesota Rubber and Plastics is expanding its production to Europe for the first time with the acquisition of Primasil Silicones Ltd., based in Weobly, UK.
- In November 2022, Asahi Kasei Synthetic Rubber Singapore Pte. Ltd. Began the sales of Tufdene S-SBR (solution polymerized styrene butadiene rubber) and Asadene BR (butadiene rubber) produced by the mass balance method. Ltd.
Fact.MR has provided detailed information about the price points of key manufacturers of industrial rubber positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Industrial Rubber Industry Research
By Product :
- Natural Rubber
- Synthetic rubber
By Processing Method :
- Injection Molding
- Compression Molding
By Application :
- Tires & Tubes
- Hoses, Gaskets & Seals
- Conveyor Belts
- Wires & Cables
By End-Use Industry :
- Automotive & Transportation
- Building & Construction
- Industrial Machinery & Equipment
By Region :
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
The global industrial rubber market size reported by Fact.MR for 2022 was US$ 34.4 billion.
The global industrial rubber market size is estimated to reach US$ 62.0 billion in 2033.
The projected CAGR for the global industrial rubber market from 2023 to 2033 will be 5.5%.
Market players include Asahi Kasei Corporation, ExxonMobil, and JSR Corporation Which are majorly operating and dominating in the market.
Factors such as the growing demand for industrial rubber from the expanding automotive industry and construction projects are anticipated to increase the demand for industrial rubber.