Industrial Rubber Product Market Size, Share, Trends, Growth and Forecast 2028

Table Of Content

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.

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.