What is the global market size of Rubber Market?

Global Rubber Market size was valued at USD 45.18 Billion in 2021 and is poised to grow from USD 47.62 Billion in 2022 to USD 72.53 Billion by 2030, at a CAGR of 5.40% during the forecast period (2023-2030).

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

Q: Who are the key vendors in the Global Rubber Market?

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. '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)'

Report ID: SQMIG25B2016 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 64 | Figures: 75

Rubber Market News

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 Market Report Snapshots

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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).

The 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. '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)'

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.

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.

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.

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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

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