Rubber Market Expected to Grow as Sustainability and Innovation Take Center Stage

Global Rubber Market size was valued at USD 51.75 Bn in 2023 and Rubber market revenue is expected to reach USD 77.82 Bn by 2030, at a CAGR of 6% over the forecast period (2024-2030).

Rubber Market Overview

Rubber is a natural or synthetic polymer material that is elastic and flexible at room temperature. Natural rubber is derived from the sap of the rubber tree (Hevea brasiliensis) and is composed of long chains of the organic compound isoprene. Synthetic rubber is produced by the polymerization of various petrochemicals and other compounds. The rubber market is a global market that encompasses the production, processing, and distribution of natural and synthetic rubber products. Rubber products are used in a wide range of applications, including automotive, construction, industrial, healthcare, consumer goods, and packaging. The demand for rubber products is influenced by a variety of factors, including global economic conditions, technological advances, changing consumer preferences, and regulatory requirements. The rubber market is characterized by intense competition among a large number of players, including manufacturers, processors, and distributors. In addition to natural and synthetic rubber, there are specialty rubbers that are designed for specific applications, such as neoprene rubber for wetsuits and electrical insulation, and silicone rubber for high-temperature applications and medical devices.rubber marketTo know about the Research Methodology :- Request Free Sample Report Automotive industry to boost the Rubber Market growth Rubber is used in a wide range of industries, including automotive, construction, and consumer goods. As such, the demand for rubber is closely tied to the overall health of the global economy. Strong economic growth typically leads to increased demand for rubber, while economic downturns can lead to decreased demand. The production of natural rubber is highly dependent on weather conditions, with excessive rainfall, droughts, and extreme temperatures affecting the yield and quality of the crop. Synthetic rubber alternatives can compete with natural rubber in many applications, and changes in the availability and cost of these material and this alternative is expected to boost the Rubber Market growth. Rubber production is often concentrated in specific regions, such as Southeast Asia, and transportation and logistics costs is expected impact the price of rubber. Government policies and regulations can have a significant impact on the rubber market, including tariffs, subsidies, and environmental regulations is expected to boost the Rubber Market growth. The demand for rubber products is influenced by a variety of factors, including global economic conditions, technological advances, changing consumer preferences, and regulatory requirements. Rubber is widely used in a variety of applications, including tires, footwear, industrial goods, medical devices, and consumer products. Its unique properties of elasticity, flexibility, and resilience make it ideal for these applications, which help to boost the rubber market share. Supply Chain Disruptions to Impact Rubber Industry Trends The price of rubber can be highly volatile, with fluctuations influenced by factors such as weather conditions, geopolitical events, and changes in supply and demand. This volatility can create uncertainty for both producers and consumers, and make it difficult to plan and invest in the rubber market. Synthetic rubber alternatives, such as styrene-butadiene rubber and polybutadiene rubber, can often be substituted for natural rubber in various applications. These materials are typically cheaper to produce and can be tailored to specific performance requirements, making them a more attractive option for some users. The production of natural rubber is often associated with labor and social issues, such as low wages, poor working conditions, and child labor. These issues can create reputational risks for rubber producers and may lead to increased scrutiny from customers and regulators. Rubber production have negative environmental impacts, including deforestation, habitat loss, and water pollution. As consumers and regulators become increasingly concerned about environmental issues, there is growing pressure on the rubber industry to adopt more sustainable practices and reduce its environmental footprint. Advances in technology can also impact the rubber market, as new materials and manufacturing processes may provide alternatives to traditional rubber products. For example, the development of self-healing and self-repairing materials may reduce the demand for traditional rubber products in certain applications. Trends in Rubber Market Increasing Demand for Sustainable Rubber: There is growing demand from consumers and manufacturers for sustainably produced natural rubber, with a focus on responsible sourcing, transparency, and ethical practices. Concerns about environmental and social impacts, as well as regulatory pressures is expected to increase the demand for trend. Shift towards Synthetic Rubber: Natural rubber remains an important commodity, there is a growing trend towards synthetic rubber alternatives, such as styrene-butadiene rubber and polybutadiene rubber. These materials offer greater control over properties such as durability, strength, and flexibility, and can be produced more efficiently and at lower cost. Technological Innovations: There is ongoing research and development into new materials and manufacturing processes for rubber, with a focus on improving performance and reducing environmental impacts. For example, researchers are exploring the use of bio-based rubber made from renewable materials, as well as new methods for recycling and reusing rubber. Supply Chain Resilience: The pandemic has highlighted the importance of supply chain resilience, with disruptions to rubber production and logistics causing shortages and price volatility. As a result, there is a growing focus on building more resilient and diversified supply chains, with greater transparency and flexibility.

Rubber Market Regional Analysis

The Asia Pacific region dominated the Rubber Market in 2023 and is expected to continue the dominance over the forecast period. 90% of the world’s rubber supply is from Asia Pacific region. As compared to the rest of the globe, production of Rubber in India is stable at 6% yearly. Output of Rubber in India is between 6 and 7 lakh tonnes per year, amounting to Rs. 3000 crores. Ribbed Smoked Sheets (RSS) account for 70% of total rubber production in India and are imported by India, accounting for 45% of total rubber imports. The current turnover of the Indian Rubber Industry is Rs 12000 crores. The automotive sector is a major driver of rubber demand in the Asia Pacific region, with increasing sales of vehicles driving up demand for tires and other rubber components. This trend is expected to continue as the region's middle class expands and more people purchase cars. Many countries in the Asia Pacific region, particularly those with significant rubber production capacity such as Thailand, Indonesia, and Malaysia, have implemented policies to support the rubber industry. These policies include subsidies, tax incentives, and infrastructure investments. There is growing demand from consumers and manufacturers for sustainably produced natural rubber, with a focus on responsible sourcing, transparency, and ethical practices. In Asia Pacific, Rubber companies are seeking to improve their environmental and social performance. The Asia Pacific region is home to a number of leading rubber producers and manufacturers, and there is ongoing research and development into new materials and manufacturing processes. This is driving innovation and improving the performance and efficiency of rubber products. The pandemic has highlighted the importance of supply chain resilience, and there is growing recognition of the need for more diversified and resilient supply chains. This is leading to increased investment in domestic rubber production and processing capacity in the Asia Pacific region, in order to reduce dependence on imports and improve supply chain stability. The tyre sector consumes the majority of the rubber, accounting for over 52% of India’s total production. Despite being one of the main producers of rubber, India still buys rubber from other countries. India imports 50000 tonnes of rubber every year approximately.

Rubber Market Competitive Landscape

The industry is growing significantly as its facing huge demand because of the increase in research and development projects with technological development in Rubber industry across the globe. . The Rubber key players has a strong product portfolio and hold control over the region of Asia Pacific and countries in the region specially India. The strategies adopted by the major player, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance the Rubber market penetration. In April 2021, Bridgestone announced the launch of its new flagship tire, the Potenza Sport, which features advanced technologies to improve handling and performance. The company has also been investing in sustainable natural rubber production and has launched a pilot program in Indonesia to promote sustainable rubber farming practices. In September 2020, Michelin announced a new sustainability plan, which includes a commitment to sourcing 100% sustainable natural rubber by 2050. The company has also been investing in research and development to develop more sustainable tire materials and processes. In March 2021, Continental announced a new strategic partnership with Brazilian agricultural company SLC Agrícola to promote sustainable natural rubber production in Brazil. The company has also been investing in research and development to develop new tire materials and technologies, including airless tires and intelligent tires. In February 2021, Lanxess announced the launch of its new sustainable rubber production program, which aims to reduce the carbon footprint of rubber production by up to 80%. The company has also been investing in research and development to develop new rubber materials and technologies, including bio-based rubber compounds.

Rubber Market Segment Analysis

Based on Application, the market is segmented by Manufacturing Tyres, Tubes, Industrial Products, Rubber and Canvas Footwear, Pharmaceutical Goods, Rubber hoses, Cots, Aprons, Belt, and Sheeting. Manufacturing tyre segment dominate the Rubber market in 2023 an dis expected to continue the dominance over the forecast period. Curcial properties of rubber, with abrasion resistance, tear resistance, and flexibility have high demand for rubber in tyre manufacturing companies. Automotive industry is expected to boost the tyre segment in the market. Non tyre segment held the second largest market share in the market including pedals, hoses, bushings, and others. Footwear application is expected to boost the rubber market growth with increasing demand for lightweight footwear and offering protection from water, chemicals, and electricity. All theses factors increase the consumption of rubber footwear in rubber industry.rubber market1Based on Type, the market is segmented into Natural Rubber, Synthetic Rubber, Butyl Rubber, Silicone Rubber, Nitrile Rubber, Chloroprene Rubber, EPDM Rubber, Polybutadiene Rubber, and Styrene Butadiene Rubber. Synthetic Rubber dominated the market in 2023 and is expected to continue the dominance over the forecast period. Increasing application of rubber such as tires, footwear, and industrial goods due to its superior properties is expected to boost the synthetic rubber segment growth in the market. Synthetic rubber have properties such as abrasion resistance, high heat resistance, elasticity, and toughness. The synthetic rubber is widely used in commercial applications.rubber market2Based on End use industry, the market is segmented by Automotive, Construction, Industrial, Healthcare, Consumer good, and Packaging. Automotive segment is most dominant segment in the rubber market is expected to dominate the market over the forecast period. Rubber are used for filling gaps between components, minimizing damage, and leakage of liquids or gases.

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Rubber Market
Report Coverage Details
Base Year: 2023 Forecast Period: 2024-2030
Historical Data: 2018 to 2023 Market Size in 2023: USD 51.75 Bn
Forecast Period 2024 to 2030 CAGR: 6% Market Size in 2030: USD 77.82 Bn
Segments Covered: by Type Natural Rubber Synthetic Rubber Butyl Rubber Silicone Rubber Nitrile Rubber Chloroprene Rubber EPDM Rubber Polybutadiene Rubber Styrene Butadiene Rubber
byApplication Manufacturing Tyres Tubes Industrial Products Rubber and Canvas Footwear Pharmaceutical Goods Rubber hoses Cots Aprons Belts Sheeting
by Sales Channel Online Offline
by End Use Industry Automotive Construction Industrial Healthcare Consumer goods Packaging

Rubber Market by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Rubber key players include

1.Sri Trang Agro-Industry Plc 2.Ceyenar 3.Southland Global 4. KA-Glove 5.Thai Hua Rubber PCL 6. Von Bundit Co., Ltd 7. THAI RUBBER LATEX GROUP PUBLIC COMPANY LIMITED 8.Goodyear Rubber Company of Southern California 9. Duratuf Products Private Limited 10.Rolex Reclaim Pvt. Ltd 11.Kent Elastomer Products 12.Unitex Rubber Co., Ltd 13.HALCYON AGRI 14.SINOCHEM GROUP CO 15. Firestone Natural Rubber 16.Apcotex Industries Ltd. 17.Rubfila International Ltd. 18.GRP Ltd. 19.S&H Rubber 20.RD Rubber Technology Corporation 21. ARLANXEO 22.TSRC Corporation 23.LG Chem 24.Vietnam Rubber Group 25. Tradewinds Plantation Berhad 26.TONG THAI RUBBER group Frequently Asked Questions: 1] What is the growth rate of the Global Rubber Market? Ans. The Global Rubber Market is growing at a significant rate of 6% over the forecast period. 2] Which region is expected to dominate the Global Rubber Market? Ans. North America region is expected to dominate the Rubber Market over the forecast period. 3] What is the expected Global Rubber Market size by 2030? Ans. The market size of the Rubber Market is expected to reach USD 77.82 Bn by 2030. 4] Who are the top players in the Global Rubber Industry? Ans. The major key players in the Global Rubber Market are Sri Trang Agro-Industry Plc, Ceyenar, Southland Global, KA-Glove, and Thai Hua Rubber PCL. 5] Which factors are expected to drive the Global Rubber Market growth by 2030? Ans. Automotive industry is expected to drive the Rubber Market growth over the forecast period (2024-2030)
1. Global Rubber Market: Research Methodology 2. Global Rubber Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Rubber Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entrants 3. Global Rubber Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by Region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Rubber Market Segmentation 4.1 Global Rubber Market, by Type (2023-2030) • Natural Rubber • Synthetic Rubber • Butyl Rubber • Silicone Rubber • Nitrile Rubber • Chloroprene Rubber • EPDM Rubber • Polybutadiene Rubber • Styrene Butadiene Rubber 4.2 Global Rubber Market, by Application (2023-2030) • Manufacturing Tyres • Tubes • Industrial Products • Rubber and Canvas Footwear • Pharmaceutical Goods • Rubber hoses • Cots • Aprons • Belts • Sheeting 4.3 Global Rubber Market, by Sales Channel (2023-2030) • Online • Offline 4.4 Global Rubber Market, by End Use Industry (2023-2030) • Automotive • Construction • Industrial • Healthcare • Consumer goods • Packaging 5. North America Rubber Market(2023-2030) 5.1 North America Rubber Market, by Type (2023-2030) • Natural Rubber • Synthetic Rubber • Butyl Rubber • Silicone Rubber • Nitrile Rubber • Chloroprene Rubber • EPDM Rubber • Polybutadiene Rubber • Styrene Butadiene Rubber 5.2 North America Rubber Market, by Application (2023-2030) • Manufacturing Tyres • Tubes • Industrial Products • Rubber and Canvas Footwear • Pharmaceutical Goods • Rubber hoses • Cots • Aprons • Belts • Sheeting 5.3 North America Rubber Market, by Sales Channel (2023-2030) • Online • Offline 5.4 North America Rubber Market, by End Use Industry (2023-2030) • Automotive • Construction • Industrial • Healthcare • Consumer goods • Packaging 5.5 North America Rubber Market, by Country (2023-2030) • United States • Canada • Mexico 6. Europe Rubber Market (2023-2030) 6.1. European Rubber Market, by Type (2023-2030) 6.2. European Rubber Market, by Application (2023-2030) 6.3. European Rubber Market, by Sales Channel (2023-2030) 6.4. European Rubber Market, by End Use Industry (2023-2030) 6.5. European Rubber Market, by Country (2023-2030) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Rubber Market (2023-2030) 7.1. Asia Pacific Rubber Market, by Type (2023-2030) 7.2. Asia Pacific Rubber Market, by Application (2023-2030) 7.3. Asia Pacific Rubber Market, by Sales Channel (2023-2030) 7.4. Asia Pacific Rubber Market, by End Use Industry (2023-2030) 7.5. Asia Pacific Rubber Market, by Country (2023-2030) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Rubber Market (2023-2030) 8.1 Middle East and Africa Rubber Market, by Type (2023-2030) 8.2. Middle East and Africa Rubber Market, by Application (2023-2030) 8.3. Middle East and Africa Rubber Market, by Sales Channel (2023-2030) 8.4. Middle East and Africa Rubber Market, by End Use Industry (2023-2030) 8.5. Middle East and Africa Rubber Market, by Country (2023-2030) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Rubber Market (2023-2030) 9.1. South America Rubber Market, by Type (2023-2030) 9.2. South America Rubber Market, by Application (2023-2030) 9.3. South America Rubber Market, by Sales Channel (2023-2030) 9.4. South America Rubber Market, by End Use Industry (2023-2030) 9.5. South America Rubber Market, by Country (2023-2030) • Brazil • Argentina • Rest Of South America Company Profile: Key players 10.1. Sri Trang Agro-Industry Plc 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Ceyenar 10.3.Southland GlobalKA-Glov 10.4. Thai Hua Rubber PCL 10.5. Von Bundit Co., Ltd 10.6. THAI RUBBER LATEX GROUP PUBLIC COMPANY LIMITED 10.7. Duratuf Products Private Limited 10.8. Rolex Reclaim Pvt. Ltd 10.9. Kent Elastomer Products 10.10. Unitex Rubber Co., Ltd 10.11. HALCYON AGRI 10.12. SINOCHEM GROUP CO 10.13. Firestone Natural Rubber 10.14. Apcotex Industries Ltd. 10.15. Rubfila International Ltd. 10.16. GRP Ltd. 10.17. S&H Rubber 10.18. RD Rubber Technology Corporation 10.19. ARLANXEO 10.20. TSRC Corporation 10.21. LG Chem 10.22. Vietnam Rubber Group 10.23. Tradewinds Plantation Berhad 10.24. TONG THAI RUBBER group 11. Key Findings 12. Industry Recommendation
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