Report Overview

Global Rubber Market- Industry Trends & Forecast Report 2028

The global rubber market was worth USD 36.5 billion in 2021 and is further projected to reach USD 50.0 billion by the year 2028, growing at the CAGR of 4.70% in the forecast period. The growth of the global rubber market is attributed to the wide application of rubber in various manufacturing industries including tires, adhesives, shock absorbers, protective pads, etc., due to its useful properties such as tear resistance, water resistance, insulation property, flexibility, etc.

Global Rubber - Overview

Rubber is an elastic substance obtained from the exudations of certain tropical flora or derived from petroleum and natural gasoline. Rubber made from natural sources is called natural rubber while those made from petroleum are called synthetic fibers. Natural rubber possesses useful characteristics such as a large stretch ratio and high resilience and is also water-proof. On the other hand, synthetic fibers also have a wide range of chemical and physical properties such as thermal stability and resistance to oils and related compounds.

Global Rubber Market Forecast and Trends

Growth Drivers

Expanding Production of Natural Rubber

The rising demand for rubber is also fueling the production of natural rubber in the market. The negative impact of synthetic rubber on the environment is prompting the users to shift towards natural rubber, which is directly influencing the production of natural rubber. Countries such as Thailand, Indonesia, Malaysia, etc., that are major producers of natural rubber are significantly investing in expanding the production to meet the surging global demand, which is anticipated to drive the market growth in the forecast period.

Increasing Production of Tires And Automotive Products

With the increasing disposable income of consumers, the demand for automobiles is also increasing at a high rate. Due to this, the major tire manufacturers are significantly expanding their production capacities. Tire brands such as Bridgestone, Cooper Tires, Yokohama, Michelin, etc., are significantly investing in expansion by establishing new production plants in different geographical locations. With increasing tire and other automotive parts production, the demand for natural and synthetic rubber is projected to surge in the forecast period, propelling the overall market growth.

Restraints

Negative Impact of Synthetic Rubber on Environment

Synthetic rubber is very useful as well as low in cost compared to natural rubber. However, it also poses dangers to the environment, which acts as a major restraining factor for the global rubber market. SBR and butadiene, which are in the family of synthetic rubber and are used in manufacturing, are primary sources of pollution. These compounds are not biodegradable, which means when the wastewater is discharged into the water bodies, it affects the oxygen level in the water and increases the toxin levels, eventually harming marine life.

Impact of COVID-19 on Global Rubber Market

The unprecedented COVID-19 pandemic outbreak tremendously halted the growth of the global rubber market. This is mainly due to the disruptions in the manufacturing and supply chains of the end-user industries including tires, automotive, footwear, industrial goods, etc. Furthermore, several countries including China, India, Brazil, etc., imposed a complete nationwide lockdown due to which production and processing of rubber were also hindered during this period. However, the demand for latex rubber registered significant growth owing to the spike in demand for medical products such as surgical gloves and PPE kits.

Global Rubber Market - By Type

Based on type, the global rubber market is segmented into natural rubber and synthetic rubber. The synthetic rubber segment because of its wide range of applications in various industries. Synthetic rubber is prominently used in the production of footwear, tires, industrial goods such as conveyor belts, etc., due to its properties such as temperature resistance, aging resistance, and resistance to abrasion. However, the natural rubber segment also covers a substantial market share as it offers a high level of heat and wear resistance.

Global Rubber Market - By Application

Based on application, the global rubber market is segmented into the tire, non-tire automotive, footwear, industrial goods, and others. The tire segment accounts for the largest market share. The expanding tire production owing to the rising demand for automobiles worldwide acts as a major driving factor for the increasing demand for rubber. The leading tire manufacturers are significantly investing in expanding their production and establishing their manufacturing plants in new geographical locations to boost their market presence, which is anticipated to fuel the growth of the global rubber market in the forecast period.

Global Rubber Market - Regional Insights

Geographically, the global rubber market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific region dominates the global rubber market owing to the leading products in countries including Thailand, China, India, etc. The flourishing manufacturing industry and increasing construction activities in these emerging economies such as China, Japan, South Korea, etc., are also fueling the growth of the market. However, North America and Europe also cover a substantial portion of the global rubber market.

Competitive Landscape

The leading market players of the global rubber market are ARLANXEO, Unitex Rubber, Kumho Petrochemical Co. Ltd., Halcyon Agri, PetroChina, Ravasco, TSRC Corporation, Tong Thai Rubber Group, LG Chem, Sinopec, ZEON Corporation, Goodyear Tire, and Rubber Company, Versalis S.p.A., Nizhnekamskneftekhim, Sri Trang Agro-Industry, Indolatex Jaya Abadi, Tradewinds Plantation Berhad, Yunnan Goshen Rubber, Kuala Lumpur Kepong Berhad, Sinochem International, Guangdong Guangken Rubber, and other prominent players.

The market is highly competitive and fragmented with the presence of several industry participants. The companies significantly invest towards expanding their production capacities and establish their presence in new markets to expand their boost. They also focus on improving their distribution channel, which is favoring the growth of the market. Furthermore, the adoption of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc., is also prominent in this market.

Recent Development

• In September 2021, Weir Minerals, a European premium natural rubber band, along with its partnership with Henkel, a German chemicals company, announced to have developed a mining industry-first solvent-free adhesive for rubber lining applications with zero volatile organic compounds.

Scope of the Report

By Type

• Natural Rubber

• Synthetic Rubber

By Application

• Tire

• Non-Tire Automotive

• Footwear

• Industrial Goods

• Others

By Region

• North America

• Europe

• Asia-Pacific (APAC)

• Latin America (LATAM)

• Middle East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Rubber Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Rubber Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
         1. Natural
         2. Synthetic
      2. By Application
         1. Tire
         2. Non-Tire
         3. Automotive
         4. Footwear
         5. Industrial Goods
         6. Others
      3. By Region
         1. North America
         2. Europe
         3. The Asia Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Rubber Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Country
         1. United States
         2. Canada
7. Europe Rubber Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. The Asia Pacific Rubber Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia Pacific
9. Latin America Rubber Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Type
      2. By Application
      3. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. The Middle East & Africa Rubber Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Type
       2. By Application
       3. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of COVID-19 on Global Rubber Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. APRANXEO
    2. Kumho Petrochemical Co. Ltd.
    3. PetroChina
    4. TSRC Corporation
    5. Versalis
    6. Dow Chemical Company
    7. Sri Trang Agro Industry
    8. South Land Holding Lonza
    9. Vietnam Rubber Group
    10. Ravasco
    11. Halcyon Agri
    12. Unitex Rubber
    13. Other Prominent Players
14. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

List of Figures

Figure 1        Global Rubber Segmentation

Figure 2        Global Rubber Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Rubber Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Rubber Market Share, By Type, By Value, 2018-2028

Figure 6        Global Rubber Market Share, By Application, By Value, 2018-2028

Figure 7        Global Rubber Market Share, By Region, By Value, 2018-2028

Figure 8        North America Rubber Market Size, By Value (USD Million), 2018-2028

Figure 9        North America Rubber Market Share, By Type, By Value, 2018-2028

Figure 10       North America Rubber Market Share, By Application, By Value, 2018-2028

Figure 11       North America Rubber Market Share, By Country, By Value, 2018-2028

Figure 12       Europe Rubber Market Size, By Value (USD Million), 2018-2028

Figure 13       Europe Rubber Market Share, By Type, By Value, 2018-2028

Figure 14       Europe Rubber Market Share, By Application, By Value, 2018-2028

Figure 15       Europe Rubber Market Share, By Country, By Value, 2018-2028

Figure 16       The Asia-Pacific Rubber Market Size, By Value (USD Million), 2018-2028

Figure 17       The Asia-Pacific Rubber Market Share, By Type, By Value, 2018-2028

Figure 18       The Asia-Pacific Rubber Market Share, By Application, By Value, 2018-2028

Figure 19       The Asia-Pacific Rubber Market Share, By Country, By Value, 2018-2028

Figure 20       Latin America Rubber Market Size, By Value (USD Million), 2018-2028

Figure 21       Latin America Rubber Market Share, By Type, By Value, 2018-2028

Figure 22       Latin America Rubber Market Share, By Application, By Value, 2018-2028

Figure 23       Latin America Rubber Market Share, By Country, By Value, 2018-2028

Figure 24       The Middle East & Africa Rubber Market Size, By Value (USD Million), 2018-2028

Figure 25       The Middle East & Africa Rubber Market Share, By Type, By Value, 2018-2028

Figure 26       The Middle East & Africa Rubber Market Share, By Application, By Value, 2018-2028

Figure 27       The Middle East & Africa Rubber Market Share, By Country, By Value, 2018-2028

List of Table

Table 1         Global Rubber Market Size, By Type, By Value, 2018-2028

Table 2         Global Rubber Market Size, By Application, By Value, 2018-2028

Table 3         Global Rubber Market Size, By Region, By Value, 2018-2028

Table 4         North America Rubber Market Size, By Type, By Value, 2018-2028

Table 5         North America Rubber Market Size, By Application, By Value, 2018-2028

Table 6         North America Rubber Market Size, By Country, By Value, 2018-2028

Table 7         Europe Rubber Market Size, By Type, By Value, 2018-2028

Table 8         Europe Rubber Market Size, By Application, By Value, 2018-2028

Table 9         Europe Rubber Market Size, By Country, By Value, 2018-2028

Table 10        The Asia-Pacific Rubber Market Size, By Type, By Value, 2018-2028

Table 11        The Asia-Pacific Rubber Market Size, By Application, By Value, 2018-2028

Table 12        The Asia-Pacific Rubber Market Size, By Country, By Value, 2018-2028

Table 13        Latin America Rubber Market Size, By Type, By Value, 2018-2028

Table 14        Latin America Rubber Market Size, By Application, By Value, 2018-2028

Table 15        Latin America Rubber Market Size, By Country, By Value, 2018-2028

Table 16        The Middle East & Africa Rubber Market Size, By Type, By Value, 2018-2028

Table 17        The Middle East & Africa Rubber Market Size, By Application, By Value, 2018-2028

Table 18        The Middle East & Africa Rubber Market Size, By Country, By Value, 2018-2028

Table 19        APRANXEO Company Overview

Table 20        APRANXEO. Financial Overview

Table 21        Kumho Petrochemical Co. Ltd. Company Overview

Table 22        Kumho Petrochemical Co. Ltd. Financial Overview

Table 23        PetroChina Corporation Company Overview

Table 24        PetroChina Financial Overview

Table 25        TSRC Corporation Company Overview

Table 26        TSRC Corporation Financial Overview

Table 27        Versalis Company Overview

Table 28        Versalis Financial Overview

Table 29        Dow Chemical Company Overview

Table 30        Dow Chemical Financial Overview

Table 31        Sri Trang Agro Industry Company Overview

Table 32        Sri Trang Agro Industry Overview

Table 33        South Land Holding Lonza Company Overview

Table 34        South Land Holding Lonza Financial Overview

Table 35        Vietnam Rubber Group. Company Overview

Table 36        Vietnam Rubber Group Financial Overview

Table 37        Ravasco Company Overview

Table 38        Ravasco Financial Overview

Table 39        Halcyon Agri. Company Overview

Table 40        Halcyon Agri. Financial Overview

Table 41        Unitex Rubber. Company Overview

Table 42        Unitex Rubber . Financial Overview