HOME Top Market Reports Industrial Rubber Market by Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification), Type, Product, and Region - Global Forecast to 2022

Industrial Rubber Market by Application (Automotive, Building & Construction, Industrial Manufacturing, Polymer Modification, Wire & Cable, Electrical & Electronics, Bitumen Modification), Type, Product, and Region - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: March 2018
Report Code: CH 6092

 

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The industrial rubber market was valued at USD 25.68 Billion in 2016 and is projected to grow at a CAGR of 4.6% to reach USD 33.82 Billion during the forecast period. Factors driving the global industrial rubber market are the growing demand for automotive and its components, and significant investments made in infrastructural development in the Asia Pacific region.

The objectives of this study are:

  • To define, describe, and forecast the industrial rubber market based on application, type, product, and region
  • To forecast the size of the industrial rubber market with respect to 5 main regions, namely Asia Pacific, Europe, North America, the Middle East & Africa, and South America, along with their key countries
  • To strategically analyze micromarkets (further segments and subsegments of the industrial rubber market included in the report) with respect to individual growth trends, future prospects, and contribution to the overall industrial rubber market
  • To analyze opportunities in the industrial rubber market for stakeholders and draw a competitive landscape for the market leaders
  • To analyze competitive developments such as contracts & agreements, expansions, acquisitions, and joint ventures undertaken by the leading players in the industrial rubber market
  • To strategically profile the key players operating in the industrial rubber market and comprehensively analyze their core competencies

Years that have been considered for this study on the industrial rubber market are as follows:

  • Base Year – 2016
  • Estimated Year – 2017
  • Projected Year – 2022
  • Forecast Period – 2017 to 2022

For company profiles, 2016 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered.

Research Methodology

This study aims to estimate the size of the industrial rubber market for 2017 and projects the demand for industrial rubber till 2022. It also provides a detailed qualitative and quantitative analysis of the industrial rubber market. Various secondary sources that include directories, industry journals, and various associations, such as the International Natural Rubber Organization (INRO) and the International Rubber Association (IRA) have been considered to identify and collect information useful for this extensive commercial study of the industrial rubber market. Primary sources such as experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess future growth prospects of the industrial rubber market. The breakdown of profiles of primaries has been represented in the figure below:

Industrial Rubber Market

To know about the assumptions considered for the study, download the pdf brochure

The value chain of the industrial rubber market includes raw material suppliers, manufacturers, and distributors. LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corporation (Japan), among others, are the key players operating in the industrial rubber market.

Key Target Audience

  • Manufacturers, Dealers, and Suppliers of Industrial Rubber
  • Government Bodies
  • End Users
  • Feedstock Suppliers
  • Industrial Associations
  • Investment Banks
  • Consulting Companies/Consultants in the Chemicals & Materials Sector

Scope of the Report:

This research report categorizes the industrial rubber market based on application, type, product, and region. The report forecasts revenues and analyzes trends in each of these submarkets.

Industrial Rubber Market, By Type:

  • Natural Rubber
  • Synthetic Rubber

Industrial Rubber Market, By Application:

  • Automotive
  • Building & Construction
  • Industrial Manufacturing
  • Polymer Modification
  • Wire & Cable
  • Electrical & Electronics
  • Bitumen Modification
  • Coating, Sealant, & Adhesive
  • Medical & Healthcare
  • Others

Industrial Rubber Market, By Product

  • Mechanical Rubber Good
  • Rubber Hose
  • Rubber Belt
  • Rubber Roofing
  • Others

Industrial Rubber Market, By Region:

  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

Available Customizations

Along with the market data, MarketsandMarkets offers customizations according to the specific needs of companies. The following customization options are available for the report:

  • End User Analysis
    • Further breakdown of the type and application segments of the industrial rubber market into various subsegments

  • Table of Contents

    1 Introduction (Page No. - 15)
        1.1 Objectives of the Study
        1.2 Market Definition
        1.3 Market Scope
               1.3.1 Years Considered for the Study
        1.4 Currency
        1.5 Unit Considered
        1.6 Limitations
        1.7 Stakeholders

    2 Research Methodology (Page No. - 19)
        2.1 Research Data
               2.1.1 Secondary Data
                        2.1.1.1 Key Data From Secondary Sources
               2.1.2 Primary Data
                        2.1.2.1 Key Data From Primary Sources
                        2.1.2.2 Breakdown of Primary Interviews
        2.2 Market Size Estimation
               2.2.1 Bottom-Up Approach
               2.2.2 Top-Down Approach
        2.3 Data Triangulation
        2.4 Assumptions

    3 Executive Summary (Page No. - 26)

    4 Premium Insights (Page No. - 29)
        4.1 Attractive Opportunities in Industrial Rubber Market
        4.2 Asia Pacific Industrial Rubber Market, By Application and Country
        4.3 Industrial Rubber Market, By Application
        4.4 Industrial Rubber Market, By Type
        4.5 Industrial Rubber Market, By Region

    5 Market Overview (Page No. - 32)
        5.1 Introduction
        5.2 Market Dynamics
               5.2.1 Drivers
                        5.2.1.1 Increasing Demand From the Automotive Industry
                        5.2.1.2 Growing Demand in Asia Pacific
               5.2.2 Restraints
                        5.2.2.1 Environmental Regulations and Health Hazards Associated With Industrial Rubber
               5.2.3 Opportunities
                        5.2.3.1 Growing Demand for Eco-Friendly Rubber
               5.2.4 Challenges
                        5.2.4.1 Volatility in Raw Material Prices
                        5.2.4.2 Overcapacity in Asia Pacific
        5.3 Porter’s Five Forces Analysis
               5.3.1 Threat of Substitutes
               5.3.2 Bargaining Power of Suppliers
               5.3.3 Bargaining Power of Buyers
               5.3.4 Intensity of Competitive Rivalry
               5.3.5 Threat of New Entrants
        5.4 Macroeconomic Indicators
               5.4.1 GDP Growth Rate Forecast of Major Economies
               5.4.2 Automotive Industry Analysis
               5.4.3 Rubber Industry Analysis

    6 Industrial Rubber Market, By Type (Page No. - 40)
        6.1 Introduction
        6.2 Natural Rubber
        6.3 Synthetic Rubber

    7 Industrial Rubber Market, By Product (Page No. - 44)
        7.1 Introduction
        7.2 Mechanical Rubber Good
        7.3 Rubber Hose
        7.4 Rubber Belt
        7.5 Rubber Roofing
        7.6 Others

    8 Industrial Rubber Market, By Application (Page No. - 50)
        8.1 Introduction
        8.2 Automotive
        8.3 Building & Construction
        8.4 Industrial Manufacturing
        8.5 Polymer Modification
        8.6 Wire & Cable
        8.7 Electrical & Electronics
        8.8 Bitumen Modification
        8.9 Coating, Sealant & Adhesive
        8.10 Medical & Healthcare
        8.11 Others

    9 Industrial Rubber Market, By Region (Page No. - 61)
        9.1 Introduction
        9.2 North America
               9.2.1 US
               9.2.2 Canada
               9.2.3 Mexico
        9.3 Europe
               9.3.1 Germany
               9.3.2 France
               9.3.3 UK
               9.3.4 Italy
               9.3.5 Russia
               9.3.6 Rest of Europe
        9.4 Asia Pacific
               9.4.1 China
               9.4.2 Japan
               9.4.3 South Korea
               9.4.4 India
               9.4.5 Thailand
               9.4.6 Malaysia
               9.4.7 Rest of APAC
        9.5 South America
               9.5.1 Brazil
               9.5.2 Argentina
               9.5.3 Chile
               9.5.4 Rest of South America
        9.6 Middle East & Africa
               9.6.1 Saudi Arabia
               9.6.2 UAE
               9.6.3 Qatar
               9.6.4 Kuwait
               9.6.5 South Africa
               9.6.6 Rest of Middle East & Africa

    10 Competitive Landscape (Page No. - 115)
         10.1 Overview
         10.2 Market Share Analysis
         10.3 Competitive Scenario
                 10.3.1 Expansions
                 10.3.2 Joint Ventures
                 10.3.3 Acquisitions
                 10.3.4 Agreements

    11 Company Profiles (Page No. - 120)
    (Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
         11.1 Lanxess
         11.2 Sinopec
         11.3 The Goodyear Tire and Rubber Company
         11.4 Kumho Petrochemical
         11.5 TSRC Corporation
         11.6 Nizhnekamskneftekhim
         11.7 JSR Corporation
         11.8 LG Chem
         11.9 Versalis S.P.A.
         11.10 Zeon Corporation
         11.11 Other Key Market Players
                 11.11.1 Petrochina
                 11.11.2 Exxonmobil
                 11.11.3 Sibur
                 11.11.4 Group Dynasol
                 11.11.5 Kraton Corporation
                 11.11.6 Synthos
                 11.11.7 Trinseo
                 11.11.8 Asahi Kasei Advance Corporation
                 11.11.9 American Synthetic Rubber Company
                 11.11.10 Lion
                 11.11.11 Firestone Polymers
                 11.11.12 Indian Synthetic Rubber Private Limited
                 11.11.13 Rishiroop
                 11.11.14 UBE Industries
                 11.11.15 Tosoh Corporation

    *Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

    12 Appendix (Page No. - 143)
         12.1 Discussion Guide
         12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
         12.3 Introducing RT: Real-Time Market Intelligence
         12.4 Available Customizations
         12.5 Related Reports
         12.6 Author Details


    List of Tables (131 Tables)

    Table 1 Trends and Forecasts of GDP Growth Rates, 2016–2022
    Table 2 Automotive Production Statistics of Key Countries in 2016
    Table 3 Rubber Production/Consumption Ratio in APAC
    Table 4 Industrial Rubber Market Size, By Type, 2015–2022 (Kilotons)
    Table 5 Industrial Rubber Market Size, By Type, 2015–2022 (USD Million)
    Table 6 Natural Rubber: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 7 Natural Rubber: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 8 Synthetic Rubber: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 9 Synthetic Rubber: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 10 Industrial Rubber Market Size, By Product, 2015–2022 (Kilotons)
    Table 11 Industrial Rubber Market Size, By Product, 2015–2022 (USD Million)
    Table 12 Mechanical Rubber Good: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 13 Mechanical Rubber Good: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 14 Rubber Hose: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 15 Rubber Hose: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 16 Rubber Belt: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 17 Rubber Belt: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 18 Rubber Roofing: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 19 Rubber Roofing: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 20 Others: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 21 Others: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 22 Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 23 Industrial Rubber Market Size, By Application, 2015–2022 (USD Million)
    Table 24 Automotive: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 25 Automotive: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 26 Building & Construction: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 27 Building & Construction: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 28 Industrial Manufacturing: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 29 Industrial Manufacturing: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 30 Polymer Modification: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 31 Polymer Modification: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 32 Wire & Cable: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 33 Wire & Cable: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 34 Electrical & Electronics: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 35 Electrical & Electronics: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 36 Bitumen Modification: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 37 Bitumen Modification: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 38 Coating, Sealant & Adhesive: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 39 Coating, Sealant & Adhesive: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 40 Medical & Healthcare: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 41 Medical & Healthcare: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 42 Others: Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 43 Others: Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 44 Industrial Rubber Market Size, By Region, 2015–2022 (Kilotons)
    Table 45 Industrial Rubber Market Size, By Region, 2015–2022 (USD Million)
    Table 46 North America: Industrial Rubber Market Size, By Country, 2015–2022 (Kilotons)
    Table 47 North America: Market Size, By Country, 2015–2022 (USD Million)
    Table 48 North America: Market Size, By Type, 2015–2022 (Kilotons)
    Table 49 North America: Market Size, By Type, 2015–2022 (USD Million)
    Table 50 North America: Market Size, By Application, 2015–2022 (Kilotons)
    Table 51 North America: Market Size, By Application, 2015–2022 (USD Million)
    Table 52 US: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 53 US: Market Size, By Application, 2015–2022 (USD Million)
    Table 54 Canada: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 55 Canada: Market Size, By Application, 2015–2022 (USD Million)
    Table 56 Mexico: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 57 Mexico: Market Size, By Application, 2015–2022 (USD Million)
    Table 58 Europe: Industrial Rubber Market Size, By Country, 2015–2022 (Kilotons)
    Table 59 Europe: Market Size, By Country, 2015–2022 (USD Million)
    Table 60 Europe: Market Size, By Type, 2015–2022 (Kilotons)
    Table 61 Europe: Market Size, By Type, 2015–2022 (USD Million)
    Table 62 Europe: Market Size, By Application, 2015–2022 (Kilotons)
    Table 63 Europe: Market Size, By Application, 2015–2022 (USD Million)
    Table 64 Germany: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 65 Germany: Market Size, By Application, 2015–2022 (USD Million)
    Table 66 France: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 67 France: Market Size, By Application, 2015–2022 (USD Million)
    Table 68 UK: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 69 UK: Market Size, By Application, 2015–2022 (USD Million)
    Table 70 Italy: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 71 Italy: Market Size, By Application, 2015–2022 (USD Million)
    Table 72 Russia: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 73 Russia: Market Size, By Application, 2015–2022 (USD Million)
    Table 74 Rest of Europe: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 75 Rest of Europe: Market Size, By Application, 2015–2022 (USD Million)
    Table 76 APAC: Industrial Rubber Market Size, By Country, 2015–2022 (Kilotons)
    Table 77 APAC: Market Size, By Country, 2015–2022 (USD Million)
    Table 78 APAC: Market Size, By Type, 2015–2022 (Kilotons)
    Table 79 APAC: Market Size, By Type, 2015–2022 (USD Million)
    Table 80 APAC: Market Size, By Application, 2015–2022 (Kilotons)
    Table 81 APAC: Market Size, By Application, 2015–2022 (USD Million)
    Table 82 China: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 83 China: Market Size, By Application, 2015–2022 (USD Million)
    Table 84 Japan: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 85 Japan: Market Size, By Application, 2015–2022 (USD Million)
    Table 86 South Korea: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 87 South Korea: Market Size, By Application, 2015–2022 (USD Million)
    Table 88 India: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 89 India: Market Size, By Application, 2015–2022 (USD Million)
    Table 90 Thailand: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 91 Thailand: Market Size, By Application, 2015–2022 (USD Million)
    Table 92 Malaysia: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 93 Malaysia: Market Size, By Application, 2015–2022 (USD Million)
    Table 94 Rest of APAC: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 95 Rest of APAC: Market Size, By Application, 2015–2022 (USD Million)
    Table 96 South America: Industrial Rubber Market Size, By Country, 2015–2022 (Kilotons)
    Table 97 South America: Market Size, By Country, 2015–2022 (USD Million)
    Table 98 South America: Market Size, By Type, 2015–2022 (Kilotons)
    Table 99 South America: Market Size, By Type, 2015–2022 (USD Million)
    Table 100 South America: Market Size, By Application, 2015–2022 (Kilotons)
    Table 101 South America: Market Size, By Application, 2015–2022 (USD Million)
    Table 102 Brazil: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 103 Brazil: Market Size, By Application, 2015–2022 (USD Million)
    Table 104 Argentina: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 105 Argentina: Market Size, By Application, 2015–2022 (USD Million)
    Table 106 Chile: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 107 Chile: Market Size, By Application, 2015–2022 (USD Million)
    Table 108 Rest of South America: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 109 Rest of South America: Market Size, By Application, 2015–2022 (USD Million)
    Table 110 Middle East & Africa: Industrial Rubber Market Size, By Country, 2015–2022 (Kilotons)
    Table 111 Middle East & Africa: Market Size, By Country, 2015–2022 (USD Million)
    Table 112 Middle East & Africa: Market Size, By Type, 2015–2022 (Kilotons)
    Table 113 Middle East & Africa: Market Size, By Type, 2015–2022 (USD Million)
    Table 114 Middle East & Africa: Market Size, By Application, 2015–2022 (USD Million)
    Table 115 Middle East & Africa: Market Size, By Application, 2015–2022 (Kilotons)
    Table 116 Saudi Arabia: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 117 Saudi Arabia: Market Size, By Application, 2015–2022 (USD Million)
    Table 118 UAE: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 119 UAE: Market Size, By Application, 2015–2022 (USD Million)
    Table 120 Qatar: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 121 Qatar: Market Size, By Application, 2015–2022 (USD Million)
    Table 122 Kuwait: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 123 Kuwait: Market Size, By Application, 2015–2022 (USD Million)
    Table 124 South Africa: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 125 South Africa: Market Size, By Application, 2015–2022 (USD Million)
    Table 126 Rest of Middle East & Africa: Industrial Rubber Market Size, By Application, 2015–2022 (Kilotons)
    Table 127 Rest of Middle East & Africa: Industrial Rubber Market Size, By Application, 2015–2022 (USD Million)
    Table 128 Expansions, 2011–2017
    Table 129 Joint Ventures, 2011–2017
    Table 130 Acquisitions, 2011–2017
    Table 131 Agreements, 2011–2017


    List of Figures (36 Figures)

    Figure 1 Industrial Rubber Market: Research Design
    Figure 2 Market Size Estimation: Bottom-Up Approach
    Figure 3 Market Size Estimation: Top-Down Approach
    Figure 4 Industrial Rubber Market: Data Triangulation
    Figure 5 Synthetic Rubber Type Segment is Expected to Lead the Industrial Rubber Market Between 2017 and 2022
    Figure 6 Automotive Application Segment is Expected to Lead the Industrial Rubber Market Between 2017 and 2022
    Figure 7 Asia Pacific Industrial Rubber Market is Expected to Witness Significant Growth During the Forecast Period
    Figure 8 Demand From Automotive Industry is Expected to Drive the Industrial Rubber Market
    Figure 9 China Led the Asia Pacific Industrial Rubber Market in 2016
    Figure 10 Automotive Segment is Expected to Lead the Industrial Rubber Market Between 2017 and 2022
    Figure 11 Synthetic Rubber Segment is Expected to Lead the Industrial Rubber Market Between 2017 and 2022
    Figure 12 Asia Pacific Industrial Rubber Market is Expected to Grow at the Highest CAGR During the Forecast Period
    Figure 13 Overview of Factors Governing the Industrial Rubbers Market
    Figure 14 Porter’s Five Forces Analysis
    Figure 15 Top 10 Automobile Manufacturing Countries in 2015
    Figure 16 Synthetic Rubber Type Segment Accounted for A Larger Share of the Industrial Rubber Market in 2016
    Figure 17 Mechanical Rubber Good Product Segment Accounted for the Largest Share of the Industrial Rubber Market in 2016
    Figure 18 Automotive Application Segment Accounted for the Largest Share of the Industrial Rubber Market in 2016
    Figure 19 Industrial Rubber Market Regional Snapshot
    Figure 20 North America Industrial Rubber Market Snapshot
    Figure 21 Europe Industrial Rubber Market Snapshot
    Figure 22 Asia Pacific Industrial Rubber Market Snapshot
    Figure 23 South America Industrial Rubber Market Snapshot
    Figure 24 Middle East & Africa Industrial Rubber Market Snapshot
    Figure 25 Joint Venture is the Key Strategy Adopted By the Leading Market Players Between 2011 and 2017
    Figure 26 Market Share of Key Players, 2016
    Figure 27 Lanxess: Company Snapshot
    Figure 28 Sinopec: Company Snapshot
    Figure 29 The Goodyear Tire and Rubber Company: Company Snapshot
    Figure 30 Kumho Petrochemical: Company Snapshot
    Figure 31 TSRC Corporation: Company Snapshot
    Figure 32 Nizhnekamskneftekhim: Company Snapshot
    Figure 33 JSR Corporation: Company Snapshot
    Figure 34 LG Chem: Company Snapshot
    Figure 35 Versalis S.P.A.: Company Snapshot
    Figure 36 Zeon Corporation: Company Snapshot

    The industrial rubber market is witnessing growth due to its expanding application area, technological advancements in the industry, and its growing demand in the Asia Pacific. Industrial rubbers are some of the most versatile materials used in almost every industry. Industrial rubber is increasingly being used in the automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, coating, sealant, & adhesive, medical & healthcare, and other applications.

    The global demand for industrial rubber is projected to witness moderate growth of 4.6% between 2017 and 2022. The industrial rubber market is estimated to be USD 26.99 Billion in 2017 and is expected to reach USD 33.82 Billion by 2022. This growth of the market can be attributed to the robust economic outlook for the Asia Pacific, and the increasing motor vehicle production and sales across the globe. The industrial rubber market is expected to witness significant growth in a number of emerging economies, such as India, Thailand, Malaysia, and Brazil. The industrial rubber market in developed economies, such as the US and Japan will witness market gains below the global average, owing to sluggish growth in durable goods consumption and automotive production.

    Based on product, the mechanical rubber good segment is expected to lead the industrial rubber market during the forecast period. This segment will witness steady growth due to the global output of motor vehicles and industrial machinery equipment.

    The use of industrial rubber in the automotive, building & construction, and other applications is expected to increase in the Asia Pacific region, followed by South America and the Middle East & Africa regions over the next 5 years. This growth in the use of the industrial rubber can be attributed to the increasing population and the growing disposable income in these regions. Based on type, the synthetic rubber segment is expected to grow at the highest CAGR between 2017 and 2022, in terms of value.

    Industrial Rubber Market

    APAC is estimated to be the largest industrial rubber market in 2017. High industrial production capacities in China and increasing investments in the automotive industry of India, Thailand, and Indonesia are expected to fuel the growth of the industrial rubber market in APAC. Europe ranked second in the consumption of industrial rubber in 2016; this trend is expected to continue, owing to the recovering economies of the region. The automotive industry contributes a major share to the GDP of several European countries. Therefore, the growing automotive industry, owing to the rising demand for vehicles globally, is driving the industrial rubber market in Europe.

    The growth of the automotive industry is one of the key factors driving the industrial rubber market. Moreover, the growing building & construction industry in the Asia Pacific is also propelling the demand for industrial rubber. Overcapacity of industrial rubber in the Asia Pacific is one of the major challenges faced by the industrial rubber industry. This is mainly related to overinvestments in the production of industrial rubber in China in the past few years.

    Leading players in the industrial rubber market include LANXESS (Germany), Sinopec (China), Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corporation (Japan). These market players are adopting strategies such as expansions, new product developments, and joint ventures to expand their global presence.

    To speak to our analyst for a discussion on the above findings, click Speak to Analyst

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