USD 45.18 Billion
Rubber Market Size, Share, Growth Analysis, By Type(Natural, Synthetic), By Application(Tire, Non-Tire Automotive, Footwear, Industrial Goods), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25B2016 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
64
|Figures:
75
Rubber Market Insights
Rubber Market size was valued at USD 45.18 Billion in 2019 and is poised to grow from USD 47.62 Billion in 2023 to USD 72.53 Billion by 2031, at a CAGR of 5.40% during the forecast period (2024-2031).
Rubber is a highly beneficial and important raw material in a variety of end-use industries due to qualities like heat and abrasion resistance. The majority of its applications are in the production of goods like tyres, waste tubes, adhesives, hoses, gaskets, and roll covers. One of the main trends in the rubber market is the increasing demand from the automotive sector for tyre and non-tire applications. It is mostly utilized in the production of tyres because of its robust qualities, including toughness and tear resistance. Commercially, industrial rubber is mostly used to create tyres for vehicles including cars, lorries, aero planes, and bicycles. However, industrial rubber is also utilized in a variety of other industrial applications, such as hoses, gaskets, sealing goods, conveyor belts, and other items like floor and wall coverings, mechanical rubber products, wiper blades, high-pressure hoses, roll covers, large bore dredging hoses, vibration control products, transmission belts, belt drive systems, molded rubber goods, weatherstripping products, flat belts, non-flat belts, rubber belting, sheet & film, rubber hoses, elevators, conveyor belting, geo-membranes, and fabricated rubber products are some examples.
US Rubber Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Synthetic
Fastest Growth
Natural
Growth Rate
5.40% CAGR
Global Rubber Market, 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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Rubber Market Segmental Analysis
Global rubber market is segmented based on the type, application, and region. Based on the type, the global rubber market is segmented as natural and synthetic. Based on application, the global rubber market is segmented as tire, non-tire automotive, footwear, industrial goods, others. Based on region Rubber Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Rubber Market Analysis by Type
Based on the Type, the Synthetic rubber segment held the largest market share. Due to high-performance and eco- friendly tires which is driving the market growth. Adhere to stringent regulations in Europe and North America, such as Euro VI and CAFE, tyre manufacturers are concentrating on creating environmentally friendly and high-performance tyres. The European Tire Labelling Regulation of 2012 stipulates that the label must include information on tire fuel efficiency, wet grip, and external rolling resistance. This regulation has helped to increase consumer awareness of the value of adopting high-performance, ecologically friendly tyres. In response, OEMs introduced fuel-efficient tyres with reduced rolling resistance that prioritized tyre performance and fuel economy.
Rubber Market Analysis by Application
Global rubber market has been segmented on the basis of application as tires, Non- Tire Automotive, Footwear, Industrial Goods and others. Among these, the automotive industry held the largest market share for Rubber market worldwide in 2021. The global rubber market is dominated by the automotive industry, and this dominance is anticipated to persist during the projected period. This is mainly because conveyor belts and other belting applications in agricultural and construction machinery are using industrial rubber more and more.
Global Rubber Market By Type , 2021(%)
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Rubber Market Regional Insights
Asia Pacific held the largest share of the rubber market. Asia Pacific makes a substantial impact on the market for industrial rubber globally. In terms of both rubber production and consumption, it is a leading region. Additionally, a lot of stakeholders are showing interest in the production of automobile and truck tyres, and it is predicted that this industry would eventually surpass that of bicycle and motorcycle tyre production in the area. The APEJ region is home to a thriving automobile industry. In terms of the creation and sale of cars, it is a developing market.
Due to the increasing demand in the automotive and footwear industries, North America is likely to continue to play a significant role in the market throughout the forecast period. Additionally, factors like increasing application in the chemical and textile industries and technological advances are driving the Rubber Market in North America.
The Rubber Market is expected to increase significantly in Europe. The Rubber Market in the area would expand as a result of the rising demand for tyres in the automobile industry. The use of non-tire automotive and industrial applications is another important driver boosting Rubber Market expansion in Europe.
Latin America and the Middle East & Africa would have slower Rubber Market value growth than the other regions as a result of the following factors such as over dependence on the import of natural rubber.
Global Rubber Market By Geography, 2021 - 2028
- Largest
- Fastest
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Rubber Market Dynamics
Rubber Market Driver
- In the automotive end-use industry, rubber is mostly utilized as a raw material for the production of a wide range of goods, including tyres, crap tubes, adhesives, hoses, pipes, gaskets, and roll covers. The rising demand for tire- and non-tire-related vehicle parts is anticipated to have an impact on market expansion.
- Additional uses for it include textiles, building, industrial products, footwear, and other consumer goods. Rubber is combined in footwear to provide resistance to water, chemicals, electricity, impact, and low temperatures. Additionally, it is utilized in a wide range of consumer goods, including mats, protective covers, and other items. The market is expected to expand as a result of the rising utilization in industrial and textile products.
Rubber Market Restraint
- Thermoplastic elastomers are viable alternatives that are frequently used in all industrial rubber application contexts. It has succeeded to a significant amount and is anticipated to replace synthetic and natural rubber in several industries, including wire and cables, footwear, construction, and automobile. Industrial rubber has been successfully replaced by thermoplastics in all of these application areas. This is a significant hurdle that the market for rubber encounters globally.
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Rubber Market Competitive Landscape
The Global Rubber Market is fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies in the market. The key players are ARLANXEO, Kumho Petrochemical Co., Ltd., PetroChina, TSRC Corporation, LG Chem etc. among others.
Rubber Market Top Player's Company Profiles
- Bridgestone Corporation (Japan)
- Michelin Group (France)
- Goodyear Tire & Rubber Company (US)
- Continental AG (Germany)
- Pirelli & C. S.p.A. (Italy)
- Sumitomo Rubber Industries, Ltd. (Japan)
- Hankook Tire & Technology Co., Ltd. (South Korea)
- Yokohama Rubber Company, Ltd. (Japan)
- Cooper Tire & Rubber Company (US)
- Kumho Tire Co., Inc. (South Korea)
- Toyo Tire Corporation (Japan)
- MRF Limited (India)
- Cheng Shin Rubber Industry Co., Ltd. (Taiwan)
- Nokian Tyres plc (Finland)
- Apollo Tyres Ltd. (India)
- Giti Tire Corporation (Singapore)
- Nexen Tire Corporation (South Korea)
- Linglong Tire Co., Ltd. (China)
- Aeolus Tyre Co., Ltd. (China)
- Sailun Group Co., Ltd. (China)
Rubber Market Recent Developments
- In June 2022, Arlanxeo Holding B.V.’s new corporate headquarters was officially opened in Maastricht, Netherlands. The company will now control its synthetic rubber business operations around the world from its Maastrict headquarters.
- In April 2022, Versalis, Eni’s chemical company, has agreed to license its proprietary continuous mass technology to Shandong Eco Chemical Co. Ltd, a Chinese company part of Shandong Haike Holding Ltd.
Rubber Key Market Trends
- Production of a variety of products to create market growth opportunities as numerous industries, including packaging, manufacturing, engineering, and construction, use rubber products. It produces reliable results when coupled with various polymers and chemicals to build goods including surgical equipment, respirators, pacemakers, and feeding nipples. Some businesses that are active on the market are experts at compounding rubber to the demands of customers to create new products.
- Calendared or coated rubber is used to construct reinforced items like drive belts, air brake diaphragms, and conveyors on a rotating or stationary drum. Conversely, non-reinforced rubbers are shaped and dried to create a sponge. Therefore, it is anticipated that the creation of fresh items would lead to the massive growth of the market.
Rubber Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Rubber Market Analysis, in terms of application, the white goods segment held the largest share of rubber market. In terms of types, in 2021, there was a 736 thousand tonne supply-demand surplus as natural rubber output reached 12.1 million tonnes and consumption reached 11.3 million tonnes. Thailand, Indonesia, Vietnam, and Malaysia accounted for roughly 70–75% of global production, making Southeast Asia the primary producer. Among regions, Asia Pacific is the biggest producer and consumer and witnessing the highest growth during the forecasted period.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 45.18 Billion |
| Market size value in 2031 | USD 72.53 Billion |
| Growth Rate | 5.40% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Rubber Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Rubber Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Rubber Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Rubber Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Rubber Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Rubber Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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