Synthetic rubber type is likely to gain popularity in industrial rubber market and surging automotive sector is expected to drive the sales of this product. Demand for light-weight vehicles, fuel-efficiency and environment-friendly automotive components has been influencing automotive industry in adopting eco-friendly industrial rubber.
Rapidly increasing demand from building and construction coupled with automotive industries in Asia-Pacific acts as an important growth driver for industrial rubber market during the forecast period. Asia-pacific holds comparatively higher number of automotive manufacturing plants across the globe and has been witnessing significant rise in infrastructural developments.
Automotive market is anticipated to take the lead in industrial rubber market over the forecast period owing to rapid growth in automotive and automobile component production in emerging nations such as South Korea, China and India along with other South-Asian countries. China is witnessed as the major contributor in Asia-Pacific industrial rubber market. Furthermore, growing industrial production capabilities in China as well as rising investments in automotive industry of Indonesia, Thailand and India have been projected to drive the growth of Asia-Pacific industrial rubber market. Constant increase in tire production companies in Asia-Pacific is expected to further support the growth of industrial rubber market in the region.
Industrial equipment and machinery sector is likely to generate extensive incremental opportunity for industrial rubber market in the near future owing to rising usage of the industrial rubber in the conveyor belts. Industrial rubber products is likely to gain significant traction across construction and agriculture machinery as well.
Rubber industry is more than 100 years old. Industrial rubber industry is dominated by one major product tires. Tires are used in large numbers on bicycles, trucks, aircrafts, and automobiles. Automobile tires, inflatable rafts, conveyor belts, rain coats and waterproof cloth tents are produced by impregnating fabrics with rubber, using calendaring process. Molding is another important process in the tire production. Tires are the principal product of industrial rubber industry. It accounts for approximately three-fourth of total rubber tonnage.
Production of rubber goods comprises of two stages- first stage is the production of rubber, either by the natural rubber (which is an agricultural crop) or from the petroleum products. Second stage is processing of the rubber so produced into the finished goods form. Processing of rubber into the finished goods like tires and other products is usually designated as rubber industry. Synthetic rubbers are produced from petrochemicals by polymerization method.
Rapidly growing automotive sector in developing economies and increased demand for high-performance tires, sealing products, and tire adhesive are expected to contribute to the growth of the global industrial rubber market. As on date, Asia Pacific is the largest producer and consumer of industrial rubber, with its tire sector exhibiting promising growth rate. Manufacturers have shifted their production facilities to emerging economies, due to the low labor and operating costs.
In the industrial rubber industry, construction market is estimated to post the strongest gain during the forecast period. Other construction-related products like rubber roofing are projected to register the healthy growth. Mechanical goods is expected to account for the largest share of total demand. Suppliers of hose and belts will gain benefits from increased consumer demand of the durable goods, particularly machinery and equipment.
Industrial Rubber Market: Drivers & Restraints
Growing automotive industry, rising construction output and manufacturing activities are some of the key factors driving the growth of the industrial rubber market.
Volatility of the oil prices, environmental concerns and associated government regulations, limited number of suppliers and increasing threat from the substitutes are probable factors negatively impacting the growth of the industrial rubber market.
Industrial Rubber Market: Overview
With rising automotive sales, growing population, increasing disposable income and rising urbanization the need for industrial rubber products are increasing. The global industrial rubber market is expected to expand at a promising CAGR during the forecast period (2015-2025).
Industrial Rubber Market: Region-wise Outlook
The global industrial rubber market is expected to register a double-digit CAGR for the forecast period. Depending on geographic regions, global industrial rubber market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, North America dominated the global industrial rubber market in terms of market revenue followed by Europe. Asia Pacific & Japan are projected to expand at a substantial growth and will contribute to the global industrial rubber market value exhibiting a robust CAGR during the forecast period, 2015?2025.
Industrial Rubber Market: Key Players
Some of the key market participants in global industrial rubber market are Goodyear Tire and Rubber Company, Greenville Industrial Rubber & Gasket Co, Industrial Rubber & Gasket Inc, Continental AG, Bridgestone Corp, Yokohama Rubber Company Ltd, Toyo Tire and Rubber Co. Ltd.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Industrial Rubber Market: Segmentation
The global industrial rubber market is broadly classified on the basis of product type, market and geographies.
Based on product type, the global industrial rubber market is segmented into:
- Conveyor belts
- Sealing products
Based on market, the global industrial rubber market is segmented into:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.