Dublin, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The "Global Rubber Market 2023-2027" report has been added to ResearchAndMarkets.com's offering.
The global rubber market is poised for robust growth, with a projected surge of 8795.35 metric tons during the forecast period from 2022 to 2027. This growth is expected to accelerate at a substantial Compound Annual Growth Rate (CAGR) of 5.28%.
These insights are derived from an exhaustive report on the rubber market, offering a comprehensive analysis of market trends, size, forecasts, growth drivers, challenges, and a vendor analysis covering approximately 25 vendors.
The report provides a contemporary analysis of the current market scenario, delivering insights into the latest trends, driving factors, and the overall market environment. Key drivers fueling this growth include the increasing demand from the automotive industry, the rising rate of industrialization, and heightened production of polybutadiene-based plastics.
Market Segmentation:
The rubber market is segmented as follows:
By Application:
- Tires
- Non-tires
By Type:
- Synthetic rubber
- Natural rubber
By Geographical Landscape:
- APAC
- Europe
- North America
- Middle East and Africa
- South America
Driving Factors and Market Growth:
The study identifies the gaining popularity of bio-adhesives as a significant driver behind the projected growth of the rubber market in the coming years. Moreover, the utilization of bio-based materials in tire manufacturing and the expansion of production capacity for polybutadiene are expected to contribute to the substantial demand in the market.
Vendor Analysis and Future Outlook:
The report presents an in-depth analysis of leading vendors within the rubber market, featuring prominent names such as Advance Multitech Ltd., Asahi Kasei Corp., Bridgestone Corp., Dow Inc., Exxon Mobil Corp., Kumho Petrochemical Co Ltd, Lanxess AG, LG Electronics Inc., Michelin Group, NISHIKAWA RUBBER CO. LTD., Saudi Arabian Oil Company, Southland Holding Co., Sri Trang Agro-Industry Plc, Synthos SA, Thai Rubber Latex Group Public Co. Ltd., TSRC Corp., Eni S.p.A., Von Bundit Co. Ltd., Ansell Ltd., and China National Petroleum Corp.
Furthermore, the report explores upcoming trends and challenges poised to impact market growth. This information empowers businesses to devise effective strategies and capitalize on emerging growth opportunities.
Methodology:
The study was conducted using a comprehensive blend of primary and secondary data sources, incorporating insights from key industry participants. The report offers a comprehensive depiction of the market and vendor landscape, coupled with an in-depth analysis of pivotal vendors. The provided data is a result of rigorous research, combining primary and secondary sources to ensure accuracy and comprehensiveness.
Future Prospects for the Rubber Market:
In summary, the global rubber market is set for rapid expansion, projected to achieve a growth of 8795.35 metric tons by 2027, driven by a notable CAGR of 5.28%. The comprehensive vendor analysis and detailed market insights within the report empower businesses to enhance their market positions and capitalize on emerging growth prospects.
A selection of companies mentioned in this report includes
- Advance Multitech Ltd.
- Asahi Kasei Corp.
- Bridgestone Corp.
- Dow Inc.
- Exxon Mobil Corp.
- Kumho Petrochemical Co Ltd
- Lanxess AG
- LG Electronics Inc.
- Michelin Group
- NISHIKAWA RUBBER CO. LTD.
- Saudi Arabian Oil Company
- Southland Holding Co.
- Sri Trang Agro-Industry Plc
- Synthos SA
- Thai Rubber Latex Group Public Co. Ltd.
- TSRC Corp.
- Eni S.p.A.
- Von Bundit Co. Ltd.
- Ansell Ltd.
- China National Petroleum Corp.
For more information about this report visit https://www.researchandmarkets.com/r/sfhx4h
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