According to IMARC Group’s latest research report, titled “Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the rubber market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global rubber market size reached US$ 42.97 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 57.45 Billion by 2028, exhibiting a growth rate (CAGR) of 4.87% during 2023-2028.
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Rubber Market Outlook:
Rubber is a synthetically created natural polymer derived from the sap of the Hevea brasiliensis tree. It is manufactured of polyisoprene and contains additional components, including proteins, resins, and inorganic compounds. It offers flexibility, toughness, low density, high tensile strength, and resistance to chemicals and water. It is also capable of stretching and regaining its normal form without suffering long-term damage. It is widely utilized in the development of conveyor belts to move goods uphill or downhill in a straight line. Additionally, it is also utilized in the creation of boots and shoe bottoms to cushion and support the feet.
Significant growth in the automotive industry majorly drives the global market. This can be supported by the rising product utilization to manufacture numerous vehicle components, such as tires, gaskets, belts, engines, hoses, seals, and exhaust systems, to improve the performance and durability of the vehicle. Along with this, the increasing use of rubber for roofing, flooring, soundproofing, insulation, and waterproofing is growing the demand. In addition, a growing number of medical devices and equipment, including respirators, face masks, and gowns, requiring rubber due to the material’s many benefits is also contributing to the market. Furthermore, the widespread integration of advanced technologies, such as sensors, actuators, microcontrollers, and communication systems is creating a positive market outlook.
Key Market Segmentation:
Competitive Landscape with Key Players:
- Arlanxeo (Saudi Arabian Oil Co.)
- Kumho Petrochemical Co. Ltd.
- LG Chem Ltd.
- Southland Holdings LLC
- Sri Trang Agro-Industry Plc
- TSRC Corporation
- Unitex Rubber Co. Ltd.
- Vietnam Rubber Group
- Von Bundit Co. Ltd.
- Synthetic Rubber
- Natural Rubber
- Non-Tire Automotive
- Industrial Goods
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.