Industrial Rubber Product Market - Global Industry Analysis

Industrial Rubber Product Market By Type (Natural Rubber, Synthetic Rubber), By Product (Mechanical Rubber Goods, Rubber Hose, Rubber Belt, Rubber Roofing, Others), By Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification, Coating, Sealant, & Adhesive, Medical & Healthcare, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028

Published Date: 29-Mar-2022 Category: Chemical & Materials Report Format : PDF Pages: 190 Report Code: ZMR-318 Status : Published

The global industrial rubber product market was worth around USD 31.54 billion in 2021 and is estimated to grow to about USD 42.03 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.9 percent over the forecast period.

Description

Industry Prospective:

The global industrial rubber product market was worth around USD 31.54 billion in 2021 and is estimated to grow to about USD 42.03 billion by 2028, with a compound annual growth rate (CAGR) of approximately 4.9 percent over the forecast period. The report analyzes the industrial rubber product market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the industrial rubber product market.

Industrial rubber product Market: Overview

Industrial rubbers are materials used in almost all industry verticals due to their versatile scope of application in the modern industrial infrastructure. Industry verticals such as automotive, construction, manufacturing, etc. are prime industries that deploy industrial rubber product use on a massive scale.

Increasing demand from the automotive industry, rising scope of application, rapid industrialization, and increasing production of synthetic rubber are prominent trends propelling market growth through 2028.

Increasing strict regulations and government mandates are expected to restrain industrial rubber product market growth.

COVID-19 Impact:

The COVID-19 pandemic led to the downfall of the industrial rubber product market. Lockdown restrictions across the world made it impossible for the manufacturing and industrial sectors to function and bought the industrial rubber product market to a halt.

Demand and supply chain gaps, shortage of raw materials, inadequate availability of skilled labor, strict restrictions prohibiting outdoor activity, and closure of multiple sales and distribution channels are being the key factors that restrained market potential in the pandemic.

As the pandemic subsides and industrial activity resumes the industrial rubber product market is expected to make a steady comeback and see a good growth curve over the forecast period.

Industrial rubber product Market: Growth Drivers

Increasing demand from Automotive Industry Vertical

Rubber has a massive scope of application in the automotive industry as it is used in making gaskets, seals, and belts as well. Rising automobile production and increasing use of rubber in multiple components are expected to make this industry a major end use vertical for the industrial rubber product market growth over the forecast period. The industrial rubber product market is expected to be majorly driven by this industry through 2028

Global Industrial Rubber Product Market

Industrial rubber product Market: Restraints

Adverse Impact on Environment

Industrial rubber products have proven to be really toxic and harmful to the environment and the increasing focus on sustainability on a global level is anticipated to restrain the use and production of industrial rubber product over the forecast period. The disposal of rubber products creates a major waste hazard and is also often highly toxic not only to humans but also to the environment.  Stringent government mandates to reduce waste and conserve the environment are expected to constrain industrial rubber product market potential through 2028

Global Industrial rubber product Market: Segmentation

The global industrial rubber product market is segregated based on product, type, application, and region.

By Type, the market is divided into synthetic rubber and natural rubber. The synthetic rubber segment is expected to lead the market and emerge as a highly lucrative segment over the forecast period. The use of synthetic rubber in large quantities in multiple industries is expected to boost the demand for this segment. Especially this segment will be driven by rising use from the automotive sector. Its better abrasion-resistant quality makes it a good substitute for natural rubber.

By Application, the industrial rubber product market is segmented into automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, coating, sealant, & adhesive, medical & healthcare, others. The rising production of automotive is expected to boost industrial rubber product market growth as it is the major end use vertical.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Recent Developments

  • In September 2017 – PJSC Nizhnekamskneftekhim announced the start of production of concentrated formaldehyde at a new plant and this is expected to be a step to boost production of isoprene. The plant has a capacity of 100,000 tons per year.

Regional Landscape

Asia Pacific region leads the global industrial rubber product market in terms of revenue and volume share owing to high industrial activity and the presence of key industrial rubber product end use industry verticals. The low cost of manufacturing in this region is expected to propel industrial rubber product market growth. High demand from China and India is expected to be a prominent trend as these emerging economies see rising investments in the industrial sector and supportive government initiatives are projected to bolster the market potential as well.

The market for industrial rubber products in North America is expected to exhibit a positive outlook owing to an increase in international trade activities and a developing industrial sector for growing demand. Increasing automotive production is also expected to favor market potential in this region. The United States and Canada are expected to be major markets for industrial rubber product in this region.

Competitive Landscape

Some of the main competitors dominating the global industrial rubber product market include - LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corpo.

Global industrial rubber product market is segmented as follows:

By Fiber Type

  • Natural Rubber
  • Synthetic Rubber

By Product

  • Mechanical Rubber Good
  • Rubber Hose
  • Rubber Belt
  • Rubber Roofing
  • Others

By Application

  • Automotive
  • Building & Construction
  • Industrial Manufacturing
  • Polymer Modification
  • Wire & Cable
  • Electrical & Electronics
  • Bitumen Modification
  • Coating, Sealant, & Adhesive
  • Medical & Healthcare
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter 1. Introduction
    • 1.1. Report description and scope
    • 1.2. Research scope
    • 1.3. Research methodology
      • 1.3.1. Market research process
      • 1.3.2. Market research methodology
  •  
  • Chapter 2. Executive Summary
    • 2.1. Industrial rubber product market, 2017 - 2024 (USD Million)
    • 2.2. Industrial rubber product market: snapshot
  •  
  • Chapter 3. Industrial rubber product market- Market Dynamics
    • 3.1. Introduction
    • 3.2. Market Drivers
      • 3.2.1. Rapidly growing of automotive industry coupled with technological advancement in the industries
      • 3.2.2. Rising demand for the high performance tires, tire adhesive, and sealing products
      • 3.2.3. Increasing operational utilization
    • 3.3. Market Restraints
      • 3.3.1. Stringent regulations issued by the government due to ecological concerns
    • 3.4. Opportunities
      • 3.4.1. Growing Demand for Eco-Friendly Rubber
    • 3.5. Porter's five forces analysis
    • 3.6. Market Attractiveness Analysis
      • 3.6.1. Market attractiveness analysis, by rubber type segment
      • 3.6.2. Market attractiveness analysis, by application segment
      • 3.6.3. Market attractiveness analysis, by regional segment
  •  
  • Chapter 4. Global Industrial rubber product market- Competitive Landscape
    • 4.1. Company market share analysis
      • 4.1.1. Industrial rubber product market: company market share, 2017
    • 4.2. Strategic development
      • 4.2.1. Acquisitions & mergers
      • 4.2.2. New product launch
      • 4.2.3. Agreements, partnerships, collaborations and joint ventures
      • 4.2.4. Research and development and regional expansion
  •  
  • Chapter 5. Industrial rubber product market-Rubber Type Segment Analysis
    • 5.1. Industrial rubber product market: rubber type overview
      • 5.1.1. Industrial rubber product market revenue share, by rubber type , 2017 and 2024
    • 5.2. Natural Rubber
      • 5.2.1. Industrial rubber product market for natural rubber market, 2017 - 2024 (USD Million)
    • 5.3. Synthetic Rubber
      • 5.3.1. Industrial rubber product market for synthetic rubber market, 2017 - 2024 (USD Million)
  •  
  • Chapter 6. Industrial rubber product market- Application Segment Analysis
    • 6.1. Industrial rubber product market: Application overview
      • 6.1.1. Industrial rubber product market revenue share, by application, 2017 and 2024
    • 6.2. Construction
      • 6.2.1. Industrial rubber product market for construction market, 2017 - 2024 (USD Million)
    • 6.3. Aerospace
      • 6.3.1. Industrial rubber product market for aerospace market, 2017 - 2024 (USD Million)
    • 6.4. Automotive and Transportation
      • 6.4.1. Industrial rubber product market for automotive and transportation market, 2017 - 2024 (USD Million)
    • 6.5. Medical
      • 6.5.1. Industrial rubber product market for medical market, 2017 - 2024 (USD Million)
    • 6.6. Others
      • 6.6.1. Industrial rubber product market for others market, 2017 - 2024 (USD Million)
  •  
  • Chapter 7. Industrial rubber product market- Regional Segment Analysis
    • 7.1. Industrial rubber product market: regional overview
      • 7.1.1. Industrial rubber product market revenue share, by region, 2017 and 2024
    • 7.2. North America
      • 7.2.1. North America Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
      • 7.2.2. North America Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.2.3. U.S.
        • 7.2.3.1. U.S. Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.2.3.2. U.S. Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.2.4. Canada
        • 7.2.4.1. Canada Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.2.4.2. Canada Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.2.5. Mexico
        • 7.2.5.1. Mexico Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.2.5.2. Mexico Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
    • 7.3. Europe
      • 7.3.1. Europe Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
      • 7.3.2. Europe Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.3.3. UK
        • 7.3.3.1. UK Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.3.3.2. UK Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.3.4. Germany
        • 7.3.4.1. Germany Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.3.4.2. Germany Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.3.5. France
        • 7.3.5.1. France Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.3.5.2. France Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.3.6. Spain
        • 7.3.6.1. Spain Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.3.6.2. Spain Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.3.7. Italy
        • 7.3.7.1. Italy Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.3.7.2. Italy Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.3.8. Rest of Europe
        • 7.3.8.1. Rest of Europe Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.3.8.2. Rest of Europe Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
    • 7.4. Asia Pacific
      • 7.4.1. Asia Pacific Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
      • 7.4.2. Asia Pacific Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.4.3. China
        • 7.4.3.1. China Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.4.3.2. China Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.4.4. Japan
        • 7.4.4.1. Japan Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.4.4.2. Japan Industrial rubber product market revenue, by application 2017 - 2024 (USD Million)
      • 7.4.5. India
        • 7.4.5.1. India Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.4.5.2. India Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.4.6. Southeast Asia
        • 7.4.6.1. Southeast Asia Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.4.6.2. Southeast Asia Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.4.7. Australia
        • 7.4.7.1. Australia Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.4.7.2. Australia Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.4.8. South Korea
        • 7.4.8.1. South Korea Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.4.8.2. South Korea Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.4.9. Rest of Asia Pacific
        • 7.4.9.1. Rest of Asia Pacific Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.4.9.2. Rest of Asia Pacific Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
    • 7.5. Latin America
      • 7.5.1. Latin America Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
      • 7.5.2. Latin America Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.5.3. Brazil
        • 7.5.3.1. Brazil Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.5.3.2. Brazil Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.5.4. Argentina
        • 7.5.4.1. Argentina Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.5.4.2. Argentina Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.5.5. Rest of Latin America
        • 7.5.5.1. Rest of Latin America Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.5.5.2. Rest of Latin America Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
    • 7.6. Middle East and Africa
      • 7.6.1. Middle East and Africa Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
      • 7.6.2. Middle East and Africa Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.6.3. GCC Countries
        • 7.6.3.1. GCC Countries Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.6.3.2. GCC Countries Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.6.4. South Africa
        • 7.6.4.1. South Africa Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.6.4.2. South Africa Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
      • 7.6.5. Rest of Middle East & Africa
        • 7.6.5.1. Rest of Middle East & Africa Industrial rubber product market revenue, by rubber type , 2017 - 2024 (USD Million)
        • 7.6.5.2. Rest of Middle East & Africa Industrial rubber product market revenue, by application, 2017 - 2024 (USD Million)
  •  
  • Chapter 8. Company Profile
    • 8.1. Cooper Automotive Standard Inc.
      • 8.1.1. Overview
      • 8.1.2. Financials
      • 8.1.3. Product portfolio
      • 8.1.4. Business strategy
      • 8.1.5. Recent developments
    • 8.2. Bridgestone Corporation
      • 8.2.1. Overview
      • 8.2.2. Financials
      • 8.2.3. Product portfolio
      • 8.2.4. Business strategy
      • 8.2.5. Recent developments
    • 8.3. Carlisle Companies Inc.
      • 8.3.1. Overview
      • 8.3.2. Financials
      • 8.3.3. Product portfolio
      • 8.3.4. Business strategy
      • 8.3.5. Recent developments
    • 8.4. Continental AG
      • 8.4.1. Overview
      • 8.4.2. Financials
      • 8.4.3. Product portfolio
      • 8.4.4. Business strategy
      • 8.4.5. Recent developments
    • 8.5. Freudenberg Group
      • 8.5.1. Overview
      • 8.5.2. Financials
      • 8.5.3. Product portfolio
      • 8.5.4. Business strategy
      • 8.5.5. Recent developments
    • 8.6. Gates Corporation
      • 8.6.1. Overview
      • 8.6.2. Financials
      • 8.6.3. Product portfolio
      • 8.6.4. Business strategy
      • 8.6.5. Recent developments
    • 8.7. Parker-Hannifin Corp.
      • 8.7.1. Overview
      • 8.7.2. Financials
      • 8.7.3. Product portfolio
      • 8.7.4. Business strategy
      • 8.7.5. Recent developments
    • 8.8. Yokohama Rubber Co., Ltd.
      • 8.8.1. Overview
      • 8.8.2. Financials
      • 8.8.3. Product portfolio
      • 8.8.4. Business strategy
      • 8.8.5. Recent developments
    • 8.9. Myers Industries, Inc.
      • 8.9.1. Overview
      • 8.9.2. Financials
      • 8.9.3. Product portfolio
      • 8.9.4. Business strategy
      • 8.9.5. Recent developments
    • 8.10. Sumitomo Riko Company Limited
      • 8.10.1. Overview
      • 8.10.2. Financials
      • 8.10.3. Product portfolio
      • 8.10.4. Business strategy
      • 8.10.5. Recent developments

Table Of Figures

List of Figures 

1. Market research process
2. Market research methodology
3. Industrial rubber product market revenue, 2017 – 2024 (USD Million) 
4. Porter’s five forces analysis
5. Industrial rubber product market attractiveness analysis, by rubber type segment
6. Industrial rubber product market attractiveness analysis, by application segment
7. Industrial rubber product market: market attractiveness analysis, by regional segment
8. Company market share analysis, 2017 
9. Industrial rubber product market revenue share by rubber type, 2017 and 2024
10. Industrial rubber product market for electrochemical storage market, 2017 – 2024 (USD Million)
11. Industrial rubber product market for mechanical storage market, 2017 – 2024 (USD Million)
12. Industrial rubber product market for thermal storage market, 2017 – 2024 (USD Million)
13. Industrial rubber product market revenue share by application, 2017 and 2024
14. Industrial rubber product market for transportation market, 2017 – 2024 (USD Million)
15. Industrial rubber product market for grid storage market, 2017 – 2024 (USD Million)


Table Of Tables

List of Tables

1. Industrial rubber product market: market snapshot                                                                                                                      
2. Drivers of Industrial rubber product market: impact analysis 
3. Restraints of Industrial rubber product market: impact analysis  
4. North America Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
5. North America Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
6. U.S. Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
7. U.S. Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
8. Canada Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
9. Canada Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
10. Mexico Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million) 
11. Mexico Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
12. Europe Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
13. Europe Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
14. UK Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
15. UK Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
16. Germany Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
17. Germany Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
18. France Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
19. France Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
20. Spain Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million) 
21. Spain Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
22. Italy Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million) 
23. Italy Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million) 
24. Rest of Europe Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million) 
25. Rest of Europe Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million) 
26. Asia Pacific Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
27. Asia Pacific Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
28. China Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
29. China Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million) 
30. Japan Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
31. Japan Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million) 
32. India Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
33. India Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)  
34. Southeast Asia Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
35. Southeast Asia Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
36. South Korea Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
37. South Korea Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
38. Australia Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million) 
39. Australia Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
40. Rest of Asia Pacific Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million) 
41. Rest of Asia Pacific Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
42. Latin America Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
43. Latin America Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
44. Brazil Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
45. Brazil Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
46. Argentina Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
47. Argentina Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
48. Rest of Latin America Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
49. Rest of Latin America Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
50. Middle East and Africa Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
51. Middle East and Africa Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
52. GCC Countries Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
53. GCC Countries Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)
54. Rest of Middle East & Africa Industrial rubber product market revenue, by rubber type, 2017 – 2024 (USD Million)
55. Rest of Middle East & Africa Industrial rubber product market revenue, by application, 2017 – 2024 (USD Million)

Methodology

Free Analysis

A rubber product deals with the transformation of elastomers into the useful products such as rubber mats, automobile tires, and others. Rubbers used in the industrial products are naturally produced or sometimes it is the combination of complex chemical compounds. Rubber offers significant characteristics such as elongations, abrasion resistance, tear resistance, and tensile strength. Moreover, rubber is water resistant owing to which it is widely used for chemical tubing, rainwear, diving equipment, and others. Rubber products are used in various industrial applications and rubber product industry is considered to be the significant resource-based industry sector.
 
Rapidly increasing automotive industry coupled with technological advancement in the industries is majorly responsible for propelling the growth of industrial rubber product market. Moreover, rising demand for the high-performance tires, tire adhesive, and sealing products are anticipated to add on to the growth of the industrial rubber market across the globe. The use of industrial rubber is dominated by the product rubber tire. The compulsion of rubber safety shoes in the industries and accessories is also the major factor driving the industrial rubber product market. In addition to this, for power transmission in the motor, a special rubber is used and other rubber products such as a spinning belt, V-belt, timing belt, and others are used at a large scale. Therefore, operational utilization is also considered as a key factor which is positively influencing the growth of the market. However, stringent regulations issued by the government due to ecological concerns may restrain the growth of the market in upcoming years.

Global Industrial Rubber Product Market

On the basis of rubber type, the industrial rubber product market is segmented into natural rubber and synthetic rubber. Synthetic rubber is further categorized into nitrile butadiene rubber (NBR), polybutadiene (BR), styrene butadiene rubber (SBR), ethylene propylene (EPDM) and acrylonitrile butadiene styrene (ABS). Natural rubber is considered to have the highest demand in the market across the globe. On the basis of applications, the market is segmented into construction, aerospace, automotive and transportation, medical, and others. 

Regionally, Asia Pacific dominates the overall industrial rubber product market. The growth is accredited to the increase in automotive industries in this region. Moreover, Asia Pacific is the leading region in the production and consumption of the rubber products. In addition to this, increasing investments in the automotive industry of emerging countries such as China, India, Indonesia, Thailand, and others are projected to drive the market growth. Europe is the second largest region in the consumption of rubber products and the region held a substantial revenue share in 2017. This trend is anticipated to continue during the forecast period. 

Major players operating in the industrial rubber product market include Cooper Automotive Standard Inc., Bridgestone Corporation, Carlisle Companies Inc., Continental AG, The Goodyear Tire & Rubber Company, Freudenberg Group, HEXPOL AB, NOK Corporation, Gates Corporation, Parker-Hannifin Corp., Sumitomo Riko Company Limited, and Yokohama Rubber Co., Ltd., and Myers Industries, Inc.

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FrequentlyAsked Questions

Increasing demand from automotive industry is the major trend that guide industrial rubber product market growth.

According to the Zion Market Research report, the global industrial rubber product market was worth about US$ 31.54 billion in 2021 and is predicted to grow to around US$ 42.03 billion by 2028, with a compound annual growth rate (CAGR) of around 4.9 percent.

Asia Pacific region leads the global industrial rubber product market in terms of revenue and volume share owing to high industrial activity

Some of the main competitors dominating the global industrial rubber product market include -- LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corpo

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