How Key Players Are Competing In Industrial Rubber Market? New Study Opines
Industrial Rubber Market, Forecast, Trend, Analysis & Competition Tracking – Global Market Insights 2020 to 2030
In a recently published report of Fact.MR, insights regarding key factors fueling market growth have been offered for the next ten years. The report tracks trends in 20+ high-growth countries, with the regions of Asia, North America, and Europe leading the way.
The impact of the COVID-19 pandemic has also been detailed in the report, with exhaustive insights into what the years ahead will offer.
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Key Takeaways from Industrial Rubber Market Study
- The global industrial rubber market is anticipated to add 1.3X value in 2030 as compared to 2020.
- Synthetic rubber captures a major chunk of the market, equivalent to the two-third, and is set to create US$ 44.3 Bn through 2030.
- East Asia is set to hold a leading share by the end of FY2030, and will the fastest-growing region over the long-run forecast period.
- The automotive & transportation sector is anticipated to lose around 366 BPS by 2030, with demand the highest for tires and tubes.
- The injection molding segment under processing method is anticipated to gain around 172 BPS by 2030.
- Due to the COVID-19 pandemic, growth of the market was -2.1 in 2020, with recover expected to be equal to 4.4% growth in 2021.
- The market in the U.S. is projected to expand at a CAGR of over 5%, while that in the U.K. at close to 6%, through 2030.
“Fluctuations in the automotive industry will cascade the effect to the industrial rubber market,”
says a Fact.MR analyst.
Prominent Key players of the Industrial Rubber market survey report:
- JSR Corporation
- Sumitomo Chemical Co. Ltd
- ExxonMobil
- Ube Industries, Ltd
- LANXESS
- Asahi Kasei Corporation
- Zeon Corporation
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Key Market Segments Covered in the Report
Product
- Natural Rubber
- Synthetic rubber
- Polybutadiene Rubber
- Butyl Rubber
- Nitrile Rubber
- Chloroprene Rubber
- Ethylene-propylene Rubber
- Silicone Rubber
- Others
Processing Method
- Injection Molding
- Compression Molding
- Extrusion
- Others
Application
- Tires & Tubes
- Hoses, Gaskets & Seals
- Conveyor Belts
- Wires & Cables
- Others
End-use Industry
- Automotive & Transportation
- Building & Construction
- Industrial Machinery & Equipment
- Others
Region
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Players in the Fragmented Market are Strengthening their Footprint
The industrial rubber industry is highly fragmented in nature due to the presence of numerous small- to medium-sized players. These players occupy nearly seven-tenth of the market share from all regions. Fragmented markets usually have the highest competition among players, which leads to the espousal of more strategies in the market.
Players in the regions of East Asia and North-America are implementing price strategies to strengthen their regional dominance. For instance, players such as Zeon Corporation, Ube Industries, Ltd., and Sumitomo Chemical Co. Ltd. in the markets of East Asia are dominating the global market by producing industrial rubber at lower cost which ultimately leads to cost competency in the global market.
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Questionnaire answered in the Industrial Rubber Market report include:
- How the market for Industrial Rubber has grown?
- What is the present and future outlook of the global Industrial Rubber on the basis of region?
- What are the challenges and opportunities for the Industrial Rubber?
- Why the consumption of Industrial Rubber highest in region?
- In which year segment is expected to overtake segment?
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