Global Rubber Market Size to Reach USD 80.28 Billion in 2032 | Emergen Research

Rising demand from automotive industries is a major factor driving the rubber market revenue growth

Vancouver, Sept. 06, 2023 (GLOBE NEWSWIRE) — The global Rubber Market size is expected to reach USD 80.28 Billion in 2032 and register a revenue CAGR of 5.4% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for rubber in industrialization and infrastructure projects is a major factor driving the market revenue growth. Industrial rubber is commonly utilized in outdoor applications owing to its great resistance and ability to tolerate adverse weather conditions. As a result, numerous sectors are exhibiting interest in utilizing rubber materials in the production of their respective products. The material does not degrade even when used in subzero temperatures or the harshest climatic circumstances. This material is perfectly suitable for usage in industries. Rubber is also used in plumbing to hold pipes together. Therefore, all these factors are driving the market revenue growth

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Rising demand for rubber in automotive industry is another factor driving the market revenue growth. Rubber is a strong and flexible material that can tolerate wear, fatigue, and exposure to water and certain chemicals. It is used to make tires, seals, gaskets, belts, hoses, and a range of other automotive components. Rubber seals and gaskets are used to prevent leaks and ensure airtight seals between engine components. Rubber belts and hoses are used to transport power and fluids throughout the vehicle. They are also used to reduce engine noise, dampen noise and vibration, and increase ride comfort which in turn is driving the market revenue growth.

However, natural rubber’s limited resistance to hydrocarbons, fats, oils, and greases is a major factor restraining the market revenue growth. When these compounds come into contact with rubber part, they can cause swelling, softening, or complete dissolving, which can lead to partial or total failure.

Scope of Research

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Major Companies and Competitive Landscape

The global rubber market is fragmented with large and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:

• Arlanxeo.
• Kumho Petrochemical.
• TSRC.
• Versalis S.p.A.
• Dow.
• Unitex Rubber Co., Ltd.
• TRANSPAC MARINAS, INC.
• Sri Trang Agro-Industry Plc.
• Southland Holding Company.
• Tong Thai Rubber Group.

Strategic Development

• On 18 April 2023, Solvay, launched Tecnoflon SHP, a new line of Fully Fluorinated Synthetic Rubbers (FFKM) that expands the company’s offering for unrivaled performance in tough industrial conditions. The new Tecnoflon SHP products from Solvay combine FFKM performance with features targeted to certain difficult situations. Individual grades meet extreme thermal requirements such as heat stability up to 315°C and cold flexibility down to -30°C.

Some Key Highlights From the Report

• The natural segment accounted for largest revenue share in 2022. Natural rubber is more durable, abrasion resistant, vibration dampening, and less expensive than many other polymers. It is a particularly tough and resilient material because of its great tensile strength and elongation. It also has an excellent compression set, which makes it beneficial in dynamic engineering applications such as anti-vibration mounts, bumpers, and bushings, among others, which is driving revenue growth of this segment. Sunlight, weather, oils, gasoline, greases, solvents, petroleum oils, animal and vegetable oils, silicone oil, refrigerants, ammonia, carbon dioxide, water, and steam are all resistant to natural rubber.
• The footwear segment accounted for a significantly large revenue share in 2022. Rubber soles are slip-resistant, providing a better grip on slick surfaces. They also have advantage of being resistant to oil and water which as a result allows them to work securely in damp, muddy, and slippery conditions without having to bring a change of socks. Rubber safety footwear acts as an excellent barrier between feet and potentially hazardous substances, reducing the risk of burns. When operating in high-temperature environments such as mining and manufacturing, rubber safety shoes are required since they can resist temperatures of up to 300°C without warping, buckling, or melting. Therefore, all these factors are driving revenue growth of this segment.
• The food industry segment accounted for a significantly large revenue share in 2022. Food-grade rubbers are non-toxic and can withstand a wide range of temperatures. All food-grade rubber is non-allergenic and water and mold resistant, ensuring that no organic germs grow on the rubber. Silicone rubber gaskets are used in high-volume food processing facilities, including fast food, biscuits, and fruit juices. Silicone gaskets can withstand extreme heat and cold temperatures while still maintaining food quality. Food-grade silicone gaskets are also used in laboratories and medical applications, driving revenue growth of this segment. Customized food-grade silicone rubber gaskets are created by gasket manufacturers depending on specifications such as grading standards, size, and others.
• The market in Asia Pacific accounted for largest revenue share in 2022. Rising demand for rubber in various sectors such as automotive, medical, and food among others in countries such as India, China, and Japan is a major factor driving the market revenue growth in this region. Rising demand for industrialization and infrastructure projects is also

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For the purpose of this report, Emergen Research has segmented the global rubber market on the basis of type, application, end-use, product grade, processing method, distribution channel, and region:

• Type Outlook (Revenue, USD Billion; 2019–2032)
  • Natural
    • Ribbed Smoked Sheet Type
    • Solid Block Rubber Type
    • Concentrated Latex Type
    • Others
  • Synthetic
    • Styrene Butadiene Rubber
    • Nitrile Rubber
    • Polybutadiene Rubber
    • Butyl Rubber
    • Others
• Application Outlook (Revenue, USD Billion; 2019–2032)
  • Automotive Tires
    • Seals and Gaskets
    • Belts and Tires
    • Anti-vibration Components
    • Hoses
    • Others
  • Footwear
  • Industrial Goods
    • Conveyor Belts
    • Rollers
    • Others
  • Consumer Goods
    • Handles
    • Sporting Goods
    • Others
  • Construction
    • Sealants
    • Roofing
    • Flooring
  • Packaging
  • Electrical
  • Healthcare
    • Medical Gloves
    • Devices
• End-Use Outlook (Revenue, USD Billion; 2019–2032)
  • Chemical Industry
  • Textile Industry
  • Automotive Industry
  • Food Industry
  • Healthcare Industry
  • Aerospace Industry
  • Others
• Product Grade Outlook (Revenue, USD Billion; 2019–2032)
  • Standard Grade
  • Specialty Grade
• Processing Method Outlook (Revenue, USD Billion; 2019–2032)
  • Extruded Rubber
  • Molded Rubber
• Distribution Channel Outlook (Revenue, USD Billion; 2019–2032)
  • Direct Sales
  • Distributors/Wholesalers
  • Online Retail
• Regional Outlook (Revenue, USD Billion, 2019–2032)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • BENELUX
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    • Brazil
    • Rest of LATAM
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Rest of MEA

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