The research report focuses on top companies and crucial drivers, current growth dynamics, futuristic opportunities, and new product/project launches

NEW YORK, April 13, 2023 /PRNewswire/ -- The rubber market is set to grow by 8,795.35 MT from 2022 to 2027, progressing at a CAGR of 5.28% during the forecast period. The market growth will be driven by the increasing demand for rubber from the automotive industry. The automotive industry has the largest share of the global market in terms of consumption. Automotive tires are generally made from rubber. PBD rubber is an ideal elastomer for making tires owing to its properties, such as high resilience, improved abrasion resistance, and increased cut growth resistance. PBD rubber is typically combined with other elastomers, such as SBR or natural rubber, during the manufacturing of tires. As PBD rubber is highly resistant to cold temperatures, it is also for non-tire applications such as hoses, belts, gaskets, and other automotive components. Therefore, PBD rubber is expected to be used for various applications during the forecast period, which will drive the growth of the global market. Make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio report. View a sample PDF report!

Vendor landscape

The rubber market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The market is moderately diverse due to the presence of dominant vendors. The global rubber market is highly competitive as vendors compete to increase their market shares. Intense competition, continuous developments in technology, and frequent changes in government policies and environmental regulations are driving the global rubber market. Moreover, the competitive environment of the market is expected to intensify due to technological innovations, product extensions, and M&A during the forecast period. Such factors are expected to intensify the competition in the global rubber market. Some of the key vendors and their offerings are listed below:

• Advance Multitech Ltd. - The company offers rubber-coated fabrics that are used for applications such as abrasion resistance, barrier protection, air retention, flex resistance, and resistance to chemical gases and fuels.

• Asahi Kasei Corp. - The company offers alpha Tec rubber cuff, which is used for the manufacturing of chemical protective suits.

• Bridgestone Corp. - The company offers styrene butadiene rubber, which is used for applications related to car tires, shoe soles and heels, drive couplings, automotive parts, and mechanical rubber goods.

• Dow Inc. - The company offers natural rubber, which is used as a primary material for tire production.

• Exxon Mobil Corp. - The company offers synthetic rubber, which is used for applications related to tires, clutches, engine bearings, conveyor belts, and various industrial goods.

• Kumho Petrochemical Co Ltd

• Lanxess AG

• LG Electronics Inc.

• Michelin Group

• Saudi Arabian Oil Company

• Southland Holding Co.

• Sri Trang Agro-Industry Plc

• Synthos SA

• Thai Rubber Latex Group Public Co. Ltd.

• TSRC Corp.

For market's vendor landscape highlights with a comprehensive list of vendors and their offerings - View a Sample Now.

Key market segmentation

• Application

The tires segment will account for a significant share of the market growth during the forecast period. Rubber is one of the key raw materials that are used to make tires for automobiles. The tire segment is expected to experience significant growth in terms of revenue during the forecast period due to the extensive use of rubber products in the automotive industry. This is due to an increase in demand for automobiles worldwide.

• Type

The synthetic rubber segment has grown significantly in the last few years. Different forms of synthetic rubber are used for various purposes. For example, Buna rubbers, butadiene, and styrene-butadiene are frequently used to manufacture tires. Polybutadiene (PBD) rubber is supplied in solid and liquid forms and is an important raw material in the automotive industry. Polyisoprene rubber is likely to witness considerable growth owing to the increasing demand for synthetic rubber from industries such as automotive, consumer goods, sports goods, medical, and other mechanical goods. Nitrile butadiene rubber is also expected to witness substantial growth due to the growing demand for synthetic rubber. Such factors are expected to drive the growth of the synthetic segment during the forecast period.

• Region

View a sample report for more highlights of the various market segments.

Regional Market Outlook

APAC will account for 46% of the growth of the global market during the forecast period. The region was the largest producer of rubber compared in 2022, with China, India, and Japan being the key revenue contributors to the regional market. This is because the demand for rubber from industries such as automotive, construction, oil and gas, and aerospace is increasing in these countries. This demand is anticipated to increase during the forecast period. Such factors will boost the regional market growth.

For more key highlights on the regional market share of most of the above-mentioned countries - View a sample PDF report

The rubber market covers the following areas:

Rubber Market Sizing
Rubber Market Forecast
Rubber Market Analysis

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The nitrile butadiene rubber market size is estimated to surge by USD 319.03 million from 2021 to 2026 at an accelerating CAGR of 4.5%. The market is segmented by application (HB and C, seals and O-rings, industrial and medical gloves, and molded and extruded products) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The increasing consumption from automotive and aeronautical industries is notably driving the nitrile butadiene rubber market growth, although factors such as fluctuating raw material prices may impede the market growth.

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.2 Market segment analysis

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

• 4.1 Global rubber market 2017 - 2021

• 4.2 By Application Segment Analysis 2017 - 2021

• 4.3 By Type Segment Analysis 2017 - 2021

• 4.4 Geography Segment Analysis 2017 - 2021

• 4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.2 Bargaining power of buyers

• 5.3 Bargaining power of suppliers

• 5.4 Threat of new entrants

• 5.5 Threat of substitutes

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Application

• 6.1 Market segments

• 6.2 Comparison by Application

• 6.3 Tires - Market size and forecast 2022-2027

• 6.4 Non-tires - Market size and forecast 2022-2027

• 6.5 Market opportunity by Application

7 Market Segmentation by Type

• 7.1 Market segments

• 7.2 Comparison by Type

• 7.3 Synthetic rubber - Market size and forecast 2022-2027

• 7.4 Natural rubber - Market size and forecast 2022-2027

• 7.5 Market opportunity by Type

8 Customer Landscape

• 8.1 Customer landscape overview

9 Geographic Landscape

• 9.1 Geographic segmentation

• 9.2 Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027

• 9.4 Europe - Market size and forecast 2022-2027

• 9.5 North America - Market size and forecast 2022-2027

• 9.6 Middle East and Africa - Market size and forecast 2022-2027

• 9.7 South America - Market size and forecast 2022-2027

• 9.8 China - Market size and forecast 2022-2027

• 9.9 US - Market size and forecast 2022-2027

• 9.10 India - Market size and forecast 2022-2027

• 9.11 Japan - Market size and forecast 2022-2027

• 9.12 Malaysia - Market size and forecast 2022-2027

• 9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.3 Landscape disruption

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.2 Market positioning of vendors

• 12.3 Advance Multitech Ltd.

• 12.4 Ansell Ltd.

• 12.5 Asahi Kasei Corp.

• 12.6 Bridgestone Corp.

• 12.7 China National Petroleum Corp.

• 12.8 Dow Inc.

• 12.9 Exxon Mobil Corp.

• 12.10 Lanxess AG

• 12.11 LG Electronics Inc.

• 12.12 Michelin Group

• 12.13 NISHIKAWA RUBBER CO. LTD.

• 12.14 Sri Trang Agro-Industry Plc

• 12.15 Synthos SA

• 12.16 Thai Rubber Latex Group Public Co. Ltd.

• 12.17 Eni S.p.A.

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist

• 13.3 Currency conversion rates for US$

• 13.4 Research methodology

• 13.5 List of abbreviations

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