Technological Advancements Driving Innovation and Growth in the Industrial Rubber Industry
Category: Chemicals & Materials Published Date : Oct-23 ID: CVC01106 Format: PDF Pages: 300
Industrial Rubber Industry Outlook
As per rigorous research by Chem View Consulting, our analysts forecast that the global industrial rubber market is expected to reach a valuation of USD 59050 million and will grow at a 5.1% CAGR during 2023 to 2033.
Key Findings on the Industrial Rubber Sector
The biggest market for industrial rubber is East Asia. As per our analysis, East Asia holds nearly 37.4% industry share.
As per Chem View Consulting, the largest segment by end-use industry is automotive. As per our analysis, this segment accounts for nearly 45.4% of total revenues.
The industry is expected to grow at a CAGR of 5.1% during the period of 2023–2033.
The key companies in the marketplace are BKT, Cabot Corporation, The Kauchuk Company, Sinopec Corporation, LG Chem Ltd., The Goodyear Tire & Rubber Company, Lotte Chemical Corporation, Arkema S.A., Celanese Corporation, Toyo Tire & Rubber Co., Ltd., Braskem S.A., UBE Corporation, United Rubber Industries India Private Limited, THE YOKOHAMA RUBBER CO., LTD., Rondex Co., Ltd., Parker Hannifin Corporation, Bridgestone Corporation, Nok Corporation, Carlisle Companies Inc., Sumitomo Riko Company Limited, and China Petrochemical Corporation.
Key Drivers for Industrial Rubber Demand
Key Challenges Inhibiting Demand for Industrial Rubber
Key Challenges & Opportunities for Industrial Rubber Market Manufacturers
US Industrial Rubber Industry Forecast
Europe Industrial Rubber Market Outlook
Japan Industrial Rubber Market Forecast
China & India Industrial Rubber Industry Overview
Industrial Rubber Business Outlook & Forecast by Segmentation
Based on type, the natural segment is expected to remain at the forefront of the share over the assessment period. The growth is mainly because natural rubber is obtained from the latex of rubber trees (Hevea brasiliensis) and is a sustainable resource. Natural rubber is a desirable option for environmentally conscious consumers and enterprises due to its durability and renewability.
In addition, natural rubber has exceptional properties such as high tensile strength, outstanding tear resistance, and flexibility. These qualities make it appropriate for a wide range of applications, including tire production, automotive components, industrial hoses, conveyor belts, and many more products.
By End-use Industry
Based on the end-use industry, the automotive segment is set to account for 45.4% of the industrial rubber market share over the assessment period. The growth is because the automobile sector is one of the main consumers of industrial rubber, mostly in the form of tires, hoses, gaskets, seals, and numerous other components. There will always be a need for rubber products as long as there is a market for automobiles.
In addition, with growing populations and rising incomes in many parts of the world, automobile ownership is on the rise. This increases the demand for new cars and replacement parts, which pushes the demand for industrial rubber.
Which Company Owns the Largest Share in the Industrial Rubber Industry?
The key companies in the industrial rubber market are BKT, Cabot Corporation, The Kauchuk Company, Sinopec Corporation, LG Chem Ltd., The Goodyear Tire & Rubber Company, Lotte Chemical Corporation, Arkema S.A., Celanese Corporation, Toyo Tire & Rubber Co., Ltd., Braskem S.A., UBE Corporation, United Rubber Industries India Private Limited, THE YOKOHAMA RUBBER CO., LTD., Rondex Co., Ltd., Parker Hannifin Corporation, Bridgestone Corporation, Nok Corporation, Carlisle Companies Inc., Sumitomo Riko Company Limited, and China Petrochemical Corporation.
As per our analysis, the companies that hold the largest share of the market are
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Founded in 2000 and with headquarters in Beijing, China, it is the world’s largest conglomerate of oil refining, gas, and petrochemical companies.
LG Chem Ltd.
Founded in 1947 and headquartered in Seoul, South Korea, it was the world’s ninth-largest chemical firm by revenue in 2021.
The Goodyear Tire & Rubber Company
Established in 1898 with headquarters in Akron, Ohio, United States, it is a worldwide tire manufacturer.
Toyo Tire & Rubber Co., Ltd.
Founded in 1945 and located in Itami, Hyogo, Japan, it is a multinational manufacturer of tires and rubber products.
Founded in 2004 and with headquarters in Colombes, Paris, France, it is a publicly traded multi-national manufacturer of specialty materials.
What Makes this Report More Insightful than Others?
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The industrial rubber market is projected to reach a significant value of USD 59050.0 million by 2033, driven by a robust 5.1% CAGR during the period 2023–2033. Key industry players actively contributing to its growth are BKT, Cabot Corporation, The Kauchuk Company, Sinopec Corporation, LG Chem Ltd., The Goodyear Tire & Rubber Company, Lotte Chemical Corporation, Arkema S.A., Celanese Corporation, Toyo Tire & Rubber Co., Ltd., Braskem S.A., UBE Corporation, United Rubber Industries India Private Limited, THE YOKOHAMA RUBBER CO., LTD., Rondex Co., Ltd., Parker Hannifin Corporation, Bridgestone Corporation, Nok Corporation, Carlisle Companies Inc., Sumitomo Riko Company Limited, and China Petrochemical Corporation. The largest market segment by end-use industry is automotive, while East Asia emerges as the dominant region in this market.
1.1. Global Market Outlook
1.2. Technology Roadmap
1.3. Supply and Demand Side Trends
1.4. Strategic Success Factors
1.5. Analysis and Recommendations
2.1. Market Taxonomy
2.2. Market Definitions
2.3. Inclusions & Limitations
3.1. Supply Side Overview
3.2. Demand Side Overview
4.1. Macroeconomic Factors
4.2. Forecast Factors
4.3. PEST Analysis
4.4. Porter’s Five Forces
4.5. Value Chain Analysis
4.6. Market Dynamics
4.7. Patent Analysis
4.8. Trade Analysis
4.9. Investment Feasibility Matrix
4.10. Challenges for New Entrants
4.11. Regulations Overview
4.12. Covid-19 Impact Assessment
4.12.1. Economy/Cluster Projections
4.12.2. Covid-19 Economic Assessment
4.12.3. Potential Impact on Target Market
4.12.4. Recovery Scenario
5.1. Historical Value ($ Mn) and Future Market Value ($ Mn) Projection Analysis
5.2. Demand Y-o-Y Growth Rate Analysis
5.3. Total $ Opportunity Analysis
5.4. Historical Volume (Tons) and Future Market Volume (Tons) Projection Analysis
6.1. Regional Pricing Analysis By Source
6.2. Regional Price Forecast
6.3. Profit Margin Analysis
6.4. Future Price Impact Factors
7.2. Market Trends
7.3. Historical Market Analysis and Market Forecast Analysis
7.4. Market Attractiveness Analysis
8.2. Market Trends
8.3. Historical Market Analysis and Market Forecast Analysis
8.3.4. Electrical & Electronics
8.4. Market Attractiveness Analysis
9.2. Market Trends
9.3. Historical Market Analysis and Market Forecast Analysis
9.3.1. North America
9.3.2. Latin America
9.3.3. Western Europe
9.3.4. Eastern Europe
9.3.5. East Asia
9.3.6. South Asia Pacific
9.3.7. Middle East & Africa
9.4. Market Attractiveness Analysis by Region
10.2. Key Market Trends
10.3. Pricing Analysis
10.4. Historical Market Analysis and Market Forecast Analysis
10.4.1. By Country
10.4.1.1. The U.S.
10.4.2. By Type
10.4.3. By End-use Industry
10.5. Market Attractiveness Analysis
10.5.1. By Country
10.5.2. By Type
10.5.3. By End-use Industry
10.6. Market Participant's Presence Mapping
11.2. Key Market Trends
11.3. Pricing Analysis
11.4. Historical Market Analysis and Market Forecast Analysis
11.4.1. By Country
220.127.116.11. Rest of L.A.
11.4.2. By Type
11.4.3. By End-use Industry
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Type
11.5.3. By End-use Industry
11.6. Market Participants Presence Mapping
12.2. Key Market Trends
12.3. Pricing Analysis
12.4. Historical Market Analysis and Market Forecast Analysis
12.4.1. By Country
18.104.22.168. Rest of Western Europe
12.4.2. By Type
12.4.3. By End-use Industry
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Type
12.5.3. By End-use Industry
12.6. Market Participants Presence Mapping
13.2. Key Market Trends
13.3. Pricing Analysis
13.4. Historical Market Analysis and Market Forecast Analysis
13.4.1. By Country
22.214.171.124. Rest of Eastern Europe
13.4.2. By Type
13.4.3. By End-use Industry
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Type
13.5.3. By End-use Industry
13.6. Market Participants Presence Mapping
14.2. Key Market Trends
14.3. Pricing Analysis
14.4. Historical Market Analysis and Market Forecast Analysis
14.4.1. By Country
126.96.36.199. South Korea
14.4.2. By Type
14.4.3. By End-use Industry
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Type
14.5.3. By End-use Industry
14.6. Market Participants Presence Mapping
15.2. Key Market Trends
15.3. Pricing Analysis
15.4. Historical Market Analysis and Market Forecast Analysis
15.4.1. By Country
188.8.131.52. Rest of SAP
15.4.2. By Type
15.4.3. By End-use Industry
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Type
15.5.3. By End-use Industry
15.6. Market Participants Presence Mapping
16.2. Key Market Trends
16.3. Pricing Analysis
16.4. Historical Market Analysis and Market Forecast Analysis
16.4.1. By Country
184.108.40.206. GCC Countries
220.127.116.11. South Africa
18.104.22.168. Rest of MEA
16.4.2. By Type
16.4.3. By End-use Industry
16.5. Market Attractiveness Analysis
16.5.1. By Country
16.5.2. By Type
16.5.3. By End-use Industry
16.6. Market Participants Presence Mapping
17.1. Market Concentration Analysis
17.2. Tier Structure Breakdown
17.3. Market Share Analysis
17.4. Production Capacity Analysis
17.5. Key Strategies Adopted by Top Players
17.6. Start-up Ecosystem
17.6.1. New Player Entry
17.6.2. Strategies Adopted by New Players
17.7. Company Footprint Analysis
17.7.1. Vehicle Type Footprint
17.7.2. Regional Footprint
17.8. Competitive Dashboard
18.1.1. Company Overview
18.1.2. Product Portfolio
18.1.4. Financial Analysis
18.1.5. Recent Developments
18.1.6. SWOT Analysis
18.1.7. Strategy Overview
18.2. Cabot Corporation
18.3. The Kauchuk company
18.4. Sinopec Corporation
18.5. LG Chem Ltd.
18.6. The Goodyear Tire & Rubber Company
18.7. Lotte Chemical Corporation
18.8. Arkema S.A.
18.9. Celanese Corporation
18.10. Toyo Tire & Rubber Co., Ltd.
18.11. Braskem S.A.
18.12. UBE Corporation
18.13. United Rubber Industries India Private Limited
18.14. THE YOKOHAMA RUBBER CO., LTD.
18.15. Rondex Co., Ltd.
18.16. Parker Hannifin Corporation
18.17. Bridgestone Corporation
18.18. Nok Corporation
18.19. Carlisle Companies Inc.
18.20. Sumitomo Riko Company Limited
18.21. China Petrochemical Corporation.