The new report by Expert Market Research titled, ‘Global Rubber Market Price, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global rubber market, assessing the market based on its segments like types, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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Rubber Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.0%
The global rubber market is expected to be driven by industrial applications of rubber. Natural rubber is employed in applications demanding high degrees of wear and heat resistance. The global market is expected to be driven by important rubber uses in different industries, including aerospace, medical, defence, printing, automotive, and agriculture.
The demand for the manufacturing of rubber is expected to rise as the automotive market expands internationally. The demand for automobiles is rising as a result of the strong expansion of developing economies and rising per capita incomes among customers in these nations.
The demand for rubber in these areas is consequently rising. In addition, the rising popularity of latex products like catheters, gloves, and belts is another element that is likely to support the expansion of the rubber market.
Rubber Industry Definition and Major Segments
Numerous everyday items, such as rubber stamps, water-resistant footwear, swimming caps, surfing wetsuits, dishwashing hoses, and many others, contain rubber. Rubber is produced artificially in chemical facilities and from natural sources. Major rubber producers include Thailand, Indonesia, Vietnam, India, China, Malaysia, the Philippines, and Guatemala.
By type, the market is segmented into:
• Natural Rubber
• Synthetic Rubber
The major applications of the market are:
• Auto-Tyre Sector
• Non-Tyre Automotive
• Electrical and Electronics
On the basis of region, the market is segmented into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Rubber Market Trends
The rubber demand is increasing due to its characteristic properties, such as adhesion to metals and resistance to abrasion, which make it suitable for manufacturing seals and tyres, among other products. The properties of natural rubber, such as high tensile strength, vibration dampening, and tear resistance, are making it ideal and more preferred than synthetic rubber for its application in the automobile industry and in large constructions.
These properties are anticipated to drive the demand for rubber globally. The footwear industry is another major sector contributing to the increasing demand for rubber. Rubber is used in footwear manufacturing due to its properties such as durability, slip resistance, and tensile resistance.
The footwear industry uses natural rubber to produce different types of footwear, including casual, formal protective footwear. Hence, the increased rubber applications are increasing the demand for rubber, leading to the growth of the rubber market.
Key Market Players
The major players in the market are:
- Kumho Petrochemical
- TSRC Corporation
- LG Chem, Von Bundit Co., Ltd.
- Sri Trang Agro-Industry Plc.
- Southland Holding Company
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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