Industrial Rubber Global Market Size, Share, Trend Analysis, By Type, By Application, By End User, By Region, And Segment Forecasts, 2024-2033

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Overview and Scope
Industrial rubber refers to rubber used in manufacturing various rubber-related industrial products ranging from mining to power generation. These industrial rubber goods have different performance standards, including fluid resistance, conductivity, friction coefficient, permeation, and dynamic qualities. The form of rubber materials used during manufacturing influences the product’s strength, durability, and capacity.

Sizing and Forecast
The industrial rubber market size has grown strongly in recent years. It will grow from $42.01 billion in 2023 to $44.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to industrialization, automotive industry growth, construction boom, advancements in material science, safety and performance requirements.

The industrial rubber market size is expected to see strong growth in the next few years. It will grow to $58.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to customization and innovation, supply chain optimization, healthcare and medical sector, industry 4.0 integration, evolving material science. Major trends in the forecast period include adherence to regulatory standards, strategic collaborations, product innovations, advanced material technologies..

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Segmentation & Regional Insights
The industrial rubber market covered in this report is segmented –
1) By Rubber Type: Natural Industrial Rubber, Synthetic Industrial Rubber
2) By Processing Type: Injection Melding, Compression Melding, Extrusion, Others Processing
3) By Product: Mechanical Rubber Good, Rubber Hose, Rubber Belt, Rubber Roofing, Others Products
4) By Application: Automotive, Building and Construction, Industrial Manufacturing, Polymer Modification, Wire and Cable, Electrical and Electronics, Bitumen Modification, Coating, Sealant, and Adhesive, Medical and Healthcare, Others Applications

Asia-Pacific was the largest region in the industrial rubber market share in 2023. The regions covered in the industrial rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growth in the automotive industry is expected to propel the industrial rubber market going forward. The automotive industry comprises industries involved in manufacturing, wholesale, retailing, and repairing automobiles. The improving level of living and expanding economy have altered purchasing power. Furthermore, the economic impact of COVID-19 has resulted in a dramatic spike in demand for personal mobility worldwide. Moreover, climate change and the desire to attain net-zero emissions are drive the global shift to emission-free transportation. These adoptions have increased production of EVs and hybrid vehicles. Such a surge in automotive demand has led to increased production and demand for industrial rubber used in a wide range of vehicle interiors and exteriors. For instance, in April 2022, a report published by European Automobile Manufacturers Association, 79.1 million motor vehicles were produced worldwide in 2021. Therefore, the growth in the automotive industry will drive the industrial rubber market.

Key Industry Players
Major companies operating in the industrial rubber market report are LANXESS AG, Bridgestone Corporation, Taiwan Synthetic Rubber Corporation, JSR Corporation, Zeon Corporation, LG Chem Co. Ltd., Toyo Tire & Rubber Co. Ltd., The Yokohama Rubber Co. Ltd., Kumho Petrochemical Co. Ltd., Cooper-Standard Holdings Inc., The Gates Corporation, Asahi Kasei Corporation, Exxon Mobil Corporation, Continental AG, Greenville Industrial Rubber & Gasket Co. Inc., ITT Corporation, Mitsubishi Chemical Corporation, NOK Corporation, Parker Hannifin Corporation, Pirelli & C. S.p.A., PolyOne Corporation, Qingdao Huahan Machinery Co. Ltd., R.D. Abbott Company Inc., Rubberlite Inc., Saint-Gobain S.A., Shin-Etsu Chemical Co. Ltd., Sumitomo Riko Company Limited, Trelleborg AB, Trinseo S.A., U.S. Rubber Corp., Veyance Technologies Inc.

The industrial rubber market report table of contents includes:
1. Executive Summary