Rubber Cement market to witness a CAGR of Around 5%
According to latest research by Fact.MR, rubber cement market is set to witness steady growth during 2021-2031. Demand for rubber cement will witness growth in coming years, owing to increase in awareness about rubber cement globally.
What is Driving Demand for Rubber Cement?
Evolving end-user demand for quick & fix adhesive and easy to use adhesive for fixing rubber products, metals and plastic etc. continues to drive the demand for rubber cement. Furthermore, increasing awareness about the benefits of rubber cement including its viscosity properties and heat resistance properties have surged the demand for rubber cement.
In the past few years, demand for lightweight electronic products has significantly increased in electronic industries. Electronic product manufacturers are using rubber cement to reduce the weight by removing nuts and bolts from electronic products. Apart, from electronic product manufacturing companies, construction companies are consuming rubber cement to fix tiles, walls and bathroom flooring.
Additionally, rubber cement plays an important role in the mining industry to fix conveying belts for the movement of particles from one place to another. Apart, from this, it also helps to fix material carrying equipment tires and rubber-tracked wheels, as it fixes quickly comparing to other adhesive, it also saves time for mining companies.
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Covid-19 Affected the Global Sales of Rubber Cement
Mining industry and electronic industry are two of the badly affected sectors globally, as most of the big and small mining projects and electronic companies were put on hold to avoid the spread of virus. This has impacted the market growth of the rubber cement market as this sector plays a vital role in rubber cement market.
Companies are facing issues in procurement of raw materials like chemical, natural rubber, synthetic rubber and other mixing particles from other countries due to the trade restriction between countries, manufacturer facing issues in delivering their previous orders to their international clients. This has forced the companies to look for local opportunities for procuring rubbers and chemicals.
Asia Pacific Rubber Cement Market Outlook
Asia Pacific is the leading market for rubber cement globally. The Asia Pacific accounts more than 30% share of the global rubber cement market. The demand in Asia Pacific is expected to grow at a rapid pace in forecasted period (2021 – 2031), as the number of activities are increasing in end use industry.
China dominates the market of rubber cement in Asia Pacific. The growing gold mining activities in China, with much of the historical and current production coming from the Jiaodong Peninsula in Shandong province, which is host to many gold resources. In 2018, the five largest Chinese gold producers controlled about 30% of local mined production which has grown an average of 4% per year over the last five years. With an increase in end user activities demand for repair of conveying belt has also grown up, which has directly affected the market growth of rubber cement in China.
Apart, from mining industry well established electronic industry in China, Vietnam, Indonesia and Japan supporting the market growth of rubber cement in Asia Pacific region.
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Europe Demand Outlook for Rubber Cement
Europe holds the second largest share of rubber cement market followed by North America. United Kingdom, France and Germany dominate the European market of rubber cement, as most of the big players of the automobile, engineering and electronic industry come from these countries.
Who are the Key Manufacturers and Suppliers of Rubber Cement?
Some of the leading manufacturers and suppliers of rubber cement includes
- Belzona International Ltd. (England)
- Eli-Chem Resins UK Limited (UK)
- LORD Corporation (US)
- Fourthane (Chile)
- 3M Company (US)
- Henkel AG & Co. KGaA (Germany)
- Rema Tip Top AG (Germany)
- ITW Performance Polymers (US)
- Eli-Chem Resins UK Limited (UK)
- H.B. Fuller Company (US)
- Sika AG (Switzerland)
- Permabond LLC (China)
- BASF SE (China)
- Yangzhou Qixiang Science & Technology Company (China)
- Zhengzhou Bai-Ott New Material Co. Ltd. (China)
- Guangdong Maydos Building Materials Limited (China)
- Jinan Biaoyuan Construction Material Co. (China)
- Shanxi Betop Industry And Trade Co. Ltd. (China)
- Linyi Demeijucheng International Trade Company (China)
- Quzhou Solid Import And Export Co. Ltd. (China)
- Nitto Denko Corporation (Japan)
- The Yokohama Rubber Co. Ltd. (Japan)
- Fuji Polymer Industries Co. Ltd. (Japan) Nitto Denko Corporation (Japan) and Mitsubishi Corporation (Japan)
An Adaptive Approach to Modern-day Research Needs
Rubber Cement Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
Based on product type, rubber cement market segmented into:
- Hot Bond
- Cold Bond
Based on application, rubber cement market segmented into:
- Tanks / Vessels
- Pipe and fittings
- Electronic circuits
- Convey belt
- Rubber tires and wheels
- Wall tile
- Floor tile
- Ceiling tile
- Indoor tiles
- Outdoor tiles
- Swimming pool tiles
Based on end user, rubber cement market segmented into:
- Mining Industry
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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