Industrial Rubber Market Size Expands Steadily at a CAGR of 5.5% by 2033, States Fact.MR

Industrial Rubber Market By Product (Natural Rubber, Synthetic rubber), By Processing Method (Injection Molding, Compression Molding, Extrusion), By Application, By End-use Industry

Rockville, May 30, 2023 (GLOBE NEWSWIRE) -- On the basis of analysis by Fact.MR, the global industrial rubber market is estimated to be valued at US$ 36.3 billion in 2023 and is expected to grow at a CAGR of 5.5% during the forecast period of 2023-2033.

Industrial rubber offers a combination of unique properties that make it highly desirable for many applications across numerous end-use industries such as automobile, construction, and others. Rubber is known for its excellent elasticity, flexibility, and resilience, allowing it to deform and recover its shape under stress. These properties make rubber ideal for sealing, vibration damping, shock absorption, and providing a reliable barrier against fluids, gases, and electrical conductivity.

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Industrial rubber is a versatile material that is formulated and processed to meet specific requirements. It can be molded, extruded, or fabricated into various shapes, sizes, and configurations, making it adaptable for a wide range of applications across different industries. Rubber products can be customized to withstand extreme temperatures, chemicals, weathering, and mechanical stresses, enhancing their utility in diverse environments.

The automotive industry is a major consumer of industrial rubber products. As the automotive sector continues to expand, due to the increasing vehicle production and demand for electric and autonomous vehicles, the demand for industrial rubber components such as tires, seals, hoses, and belts are expected to grow, thus, driving the industrial rubber market.

Key Takeaways from Market Study

The global industrial rubber market size reported by Fact.MR for 2022 was US$ 34.4 billion

The global industrial rubber market size is estimated to reach US$ 62.0 billion in 2033

The projected CAGR for the global industrial rubber market from 2023 to 2033 will be 5.5%

Application in automobiles accounts for a major share in industrial rubber as compared to the other industries

Synthetic rubber captures the highest share for industrial rubber

Unleashing the Power of Industrial Rubber, Versatility, Resilience, and Adaptability are likely to fuel the market growth, says a Fact.MR analyst.

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Market Growth StratagemsManufacturers focus on developing new and improved rubber products to meet customer demands and address market needs. This involves investing in research and development to enhance product performance, durability, and functionality. Innovation also involves the development of eco-friendly and sustainable rubber materials or the integration of advanced technologies into rubber products.

Key Companies Profiled

JSR Corporation

Sumitomo Chemical Co. Ltd

ExxonMobil

Ube Industries, Ltd

LANXESS

Asahi Kasei Corporation

Zeon Corporation

Key Market Segments Covered in the Report

Product

Natural Rubber

Synthetic rubber

Polybutadiene Rubber

Butyl Rubber

Nitrile Rubber

Chloroprene Rubber

Ethylene-propylene Rubber

Silicone Rubber

Others

Processing Method

Injection Molding

Compression Molding

Extrusion

Others

Application

Tires & Tubes

Hoses, Gaskets & Seals

Conveyor Belts

Wires & Cables

Others

End-use Industry

Automotive & Transportation

Building & Construction

Industrial Machinery & Equipment

Others

Region

North America

Latin America

Europe

East Asia

South Asia & Oceania

Middle East & Africa

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More Valuable Insights on OfferFact.MR, in its new offering, presents an unbiased analysis of the industrial rubber market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of product (natural rubber, synthetic rubber (polybutadiene, butyl, nitrile, chloroprene, ethylene-propylene, silicone, and others)), processing method (injection molding, compression molding, extrusion, and others), application (tires & tubes, hoses, gaskets & seals, conveyor belts, wires & cables, and others), end-use industry (automotive & transportation, building & construction, industrial machinery & equipment, and others), and across major regions of the world (North America, Latin America, Europe, East Asia, South Asia, and Oceania, Middle East & Africa).

Key Questions Covered in the Industrial Rubber Market Report

What will be the estimated size of the Market in 2023?

At what rate will the global Industrial Rubber sales grow until 2033?

Which are the factors hampering the Industrial Rubber demand?

Which region will spearhead the growth in the global industry by 2033?

Which are the factors driving sales in the Industrial Rubber Market during the forecast period?

Check out more related studies published by Fact.MR Research: Rubber Processing Chemicals Sale : Rubber processing chemicals sale was valued at US$ 5.15 Billion in FY 2022, and is likely to exhibit a Y-o-Y expansion rate of 3.1% to reach US$ 5.31 Billion in 2022. Overall, the market is forecast to register a CAGR of over 3%.

Rubber Vulcanization Market Share : The global rubber vulcanization market share stands at US$ 2.5 billion in 2023. Global demand for rubber vulcanization is forecasted to reach a market valuation of US$ 4.2 billion by the end of 2033, increasing at a CAGR of 5.3% from 2023 to 2033.

Hydrogenated Nitrile Butadiene Rubber Market Size : The hydrogenated nitrile butadiene rubber market size was valued at US$ 10,582.4 Mn in 2017. The market is forecast to expand at a CAGR of 7.6% by value during the forecast period, 2018-2027. Hydrogenated Nitrile Butadiene Rubber is the synthetic rubber having retention properties and physical strength after the long term exposure to chemicals, oils and heat.

Rubber Accelerators Market Revenue : The global rubber accelerators market revenue is expected to witness a single-digit CAGR over the forecast period of 2019-2029. Increasing rubber production across the globe and rapidly growing application industries are some of the major factors propelling the market growth over the forecast period.

Rubber Cement Demand : Rubber cement demand is set to witness steady growth during 2021-2031. Demand for rubber cement will witness growth in coming years, owing to increase in awareness about rubber cement globally. Evolving end-user demand for quick & fix adhesive and easy to use adhesive for fixing rubber products, metals and plastic etc. continues to drive the demand for rubber cement.

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