Pune, May 11, 2023 (GLOBE NEWSWIRE) -- Maximize Market Research, a global market research firm has published a competitive intelligence market research report on the “Rubber Market“. The Rubber market size was valued at USD 48.83 Billion in 2022. The total Rubber Market revenue is expected to grow at a CAGR of 6 percent from 2022 to 2029, reaching USD 73.42 Bn by 2029 during the forecast period.
| Market Size in 2022 | USD 48.83 Bn |
| Market Size in 2029 | USD 73.42 Bn |
| CAGR | 6 percent (2023-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 265 |
| No. of Tables | 129 |
| No. of Charts and Figures | 121 |
| Segment Covered | By Type, Application, Sales Channel, End-User Industry and region |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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Rubber Market Scope and Research Methodology
The Rubber market is segmented based on Type, Application, Sales Channel, End-Use Industry, and region. The growth of various segments helps clients in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The research study provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.
Bottom-up approaches were used to estimate the Rubber market size. Major Key Players in the Rubber market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research involved a study of the top manufacturers' annual and financial reports, while primary research was done through interviews with key opinion leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives. The study gives insight into the growth dynamics of the Rubber market in regions such as the Middle East and Africa, Asia Pacific, Europe, North America, and Latin America.
Rubber Market Overview
Natural rubber is produced from the sap of rubber trees, primarily grown in Southeast Asia. Rubber is a versatile material that is used in a wide range of products, including tires, automotive parts, footwear, medical devices, and consumer goods. The production and export of natural rubber are dominated by countries like Thailand, Indonesia, and Vietnam. The rubber market is highly competitive, with a large number of small and large players operating in the market. Key players in the Rubber market are Bridgestone Corporation, Michelin, Goodyear Tire and Rubber Company, and Continental AG. These companies are investing heavily in research and development to develop new and innovative rubber products and technologies.
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The automotive sector is expected to be a key driver in the rubber market
Rubber is a key material used in the production of tires and other automotive components. The tire industry accounts for approximately 70% of global rubber consumption. The demand for tires is expected to rise because of the growing automotive industries in China and India. The tire industry is expected to continue innovating and developing new technologies such as sustainable and smart tires, further increasing demand for rubber and creating new growth opportunities. Furthermore, the shift towards electric and autonomous vehicles is also expected to drive growth in the rubber market during the forecast period.
Supply Chain Disruptions are expected to hamper the Rubber market
Supply chain disruptions have the potential to impact rubber industry trends by affecting the availability of raw materials, increasing costs, and causing delays and disruptions in the production and transportation of rubber products. weather conditions such as floods or droughts in rubber-producing regions may impact the supply of natural rubber and lead to price fluctuations. Political instability, trade wars, or changes in government policies have also impacted the supply and demand of rubber. Thus, the price volatility in the rubber market creates uncertainty for both producers and consumers and makes it challenging to plan and invest in the industry.
Asia Pacific region held the largest market share
Asia Pacific region held the largest market for Rubber. The growth of the automotive industry and infrastructure development in the Asia Pacific region is expected to drive the demand for rubber products, particularly for tires and construction materials. The region's favorable government policies such as tax incentives and investment in infrastructure are expected to drive the rubber industry during the forecast period.
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Rubber Market Segmentation
Based on the Type
- Natural Rubber
- Synthetic Rubber
- Butyl Rubber
- Silicone Rubber
- Nitrile Rubber
- Chloroprene Rubber
- EPDM Rubber
- Polybutadiene Rubber
- Styrene Butadiene Rubber
Based on the Application
- Manufacturing Tyres
- Tubes
- Industrial Products
- Rubber and Canvas Footwear
- Pharmaceutical Goods
- Rubber hoses
- Cots
- Aprons
- Belts
- Sheeting
Based on the Sales Channel
- Online
- Offline
Based on the End Use Industry
- Automotive
- Construction
- Industrial
- Healthcare
- Consumer goods
- Packaging
Rubber Market Key Players Include:
- Sri Trang Agro-Industry Plc
- Ceyenar
- Southland Global
- KA-Glove
- Thai Hua Rubber PCL
- Von Bundit Co., Ltd
- THAI RUBBER LATEX GROUP PUBLIC COMPANY LIMITED
- Goodyear Rubber Company of Southern California
- Duratuf Products Private Limited
- Rolex Reclaim Pvt. Ltd
- Kent Elastomer Products
- Unitex Rubber Co., Ltd
- HALCYON AGRI
- SINOCHEM GROUP CO
- Firestone Natural Rubber
- Apcotex Industries Ltd.
- Rubfila International Ltd.
- GRP Ltd.
- S&H Rubber
- RD Rubber Technology Corporation
- ARLANXEO
- TSRC Corporation
- LG Chem
- Vietnam Rubber Group
- Tradewinds Plantation Berhad
- TONG THAI RUBBER group
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Key questions answered in the Rubber Market are:
- What is Rubber?
- What was the Rubber market size in 2021?
- What is the expected Rubber market size by 2029?
- What is the growth rate of the Rubber Market?
- Which are the factors expected to drive the Rubber market growth?
- Which factors are expected to restrain the Rubber market growth?
- Which segment dominated the Rubber market growth?
- What is the demand pattern for the Rubber market?
- Which region held the largest share in the Rubber market?
- Who are the key players in the Rubber market?
Key Offerings:
- Past Market Size and Market Competitiveness (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, Challenges, and Key Trends by Region
- Market Segmentation – A detailed analysis by Type, Application, Sales Channel, End-Use Industry, and region.
- Competitive Landscape –A detailed scenario of the competitive environment in the global market
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region based on Type, Application, Sales Channel, End-Use Industry, and region.
- Market Consolidations – Mergers, Acquisitions, Joint Ventures, Partnerships.
- Company Profiles – Business Overview, Financial Overview, Business Strategy, SWOT Analysis, Recent Development.
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Key Takeaways
- Industry Recommendations
Maximize Market Research is leading research firm, has also published the following reports:
- Rubber Tire Market: The total market size was valued at USD 141.27 Bn in 2021 and the total revenue is expected to grow at a CAGR of 3.99 percent from 2022 to 2029, reaching USD 193.18 Bn. The growth of the automotive industry and the increasing demand for tires from both the original equipment manufacturers (OEMs) are expected to drive the Rubber Tire Market.
- Rubber Internal Mixers Market: The total market size was valued at USD 464.8 Mn. in 2021 at a CAGR of 2.8 percent and is expected to reach USD 579.71 Mn by 2029. The Increasing Use of Rubber in Electrical Devices is expected to influence market growth.
- Tires Market: The total Tires Market size was valued at US$ 121.64 Bn in 2021 and is expected to grow by 4.2 percent from 2022 to 2029, reaching USD US$ 169.06 Bn by 2029. The market is primarily driven by rising vehicle production and sales all over the world.
- Tire Testing Machine Market: The total market size was valued at USD 468.00 Mn in 2021 and the total revenue is expected to grow at a CAGR 4.7 percent from 2022 to 2029. The need for tire balancing testing in automobile service centres and tire manufacturing is driving up demand for the tire testing machines market.
- Plastic Films and Sheets Market: The total market size was valued at USD 130.9 Bn. in 2022. The Growing demand for bi-axially oriented films across the world is the major factor driving the growth of the global Plastic Films and Sheets Market during the forecast period.
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