Report

The global rubber market size is expected to grow at a CAGR of 5.00% during the period 2025-2034. The market is expected to be driven by important uses of rubber in different industries, including aerospace, medical, defence, printing, automotive, agriculture, etc. North America, Europe and Asia are likely to be key markets.

Rubber Market Growth

Rubber is a versatile material known for its elasticity, waterproof properties, and resilience. It can be natural or synthetic and has a wide range of applications in various industries. Natural rubber is a polymer of isoprene, typically harvested from the latex sap of rubber trees, whereas synthetic rubber is made from petroleum byproducts through a process called polymerisation, which involves bonding together small chemical units called monomers.

Its unique properties like elasticity, durability, and resistance to water and chemicals make it an essential material in many products and processes. The most well-known use of rubber, particularly natural rubber, is in the production of automobile tires. Rubber provides the necessary grip, durability, and resilience required for tires.

The rubber market outlook looks favourable due to the increasing demand in the automotive and footwear industries. Additionally, the growing application of rubber in the chemical and textile industries, as well as technological advancements, are contributing to the market's expansion. Furthermore, the growing economies of countries like India and China are supporting the demand for natural rubber, which is used in various products such as tyres , latex goods, and industrial durables.

Key Trends and Developments

Increasing demand from the automotive sector, growing demand for synthetic rubber, and advancements in rubber manufacturing technologies are factors boosting the rubber market expansion

June 2024

Liberia has established a National Board for Rubber to ensure an equitable determination of the monthly price of rubber. The move enables the country to enforce a ban on the exportation of unprocessed rubber. It will also protect small rubber farmers and create a stable environment for the sector.

June 2024

Weir introduced new sheet branding to validate the authenticity of its Linatex premium rubber. The branding features four rows of black Linatex logos along the length of the rubber roll, ensuring customers of authenticity of their premium rubber products.

June 2024

The Rubber Tapping Training Centre was inaugurated at TOKA MPCS Ltd. in Dimapur, Nagaland by the the Rubber Board of India. It will provide hands-on training to rubber farmers in the region, equipping them with the necessary skills to efficiently tap rubber trees and increase their productivity.

Increasing demand from the automotive sector

The rising popularity of electric vehicles (EVs) and the expansion of manufacturing bases by major automakers are expected to drive rubber market growth as rubber is primarily used in the production of automotive tires due to its toughness and tear resistance.

Growing demand for synthetic rubber

The demand for synthetic rubber is increasing due to its versatility and durability. Synthetic rubber is used in various applications, including tires, belts, hoses, and other industrial products.

Focus on sustainable rubber products

Another notable trend influencing rubber market development is the growing emphasis on eco-friendly rubber products. Manufacturers like Michelin and Bridgestone are launching bio-based rubber derived from renewable sources and implementing advanced recycling methods to reuse rubber products.

Technological advancements

New manufacturing techniques and materials are also driving the growth of the market as it improves the quality of rubber produced. For example, the use of nanotechnology and 3D printing is enhancing the properties of rubber, making it more suitable for various applications.

Rubber Market Trends

One of the crucial trends in market is the increased implementation of natural rubber in high-performance tyres for race cars, buses, and aircraft. It is also used in automotive parts, foam mattresses, battery boxes, rubber stamps, belts, medical devices, waterproof shoes, surfing wetsuits, swimming caps, and dishwasher hoses.

As per rubber market analysis, Thailand, Indonesia, Vietnam, India, China, Malaysia, the Philippines, and Guatemala are major producers of natural rubber (NR). According to the International Rubber Study Group (IRSG), world NR production during 2022 was 14.609 million tonnes compared to 13.804 million tonnes produced in 2021. Moreover, owing to its strength and compressibility, natural rubber is now being employed in engineering applications, like anti-vibration mounts, drive couplings, springs, bearings, rubber bands, and adhesives.

Rubber Industry Segmentation

The EMR's report titled "Rubber Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

- Natural Rubber
- Synthetic Rubber

Market Breakup by Application

- Auto-Tyre Sector
- Non-Tyre Automotive
- Footwear
- Electrical and Electronics
- Others

Market Breakup by Region

- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa

Rubber Market Share

Natural and synthetic rubbers have different uses across different industries, which is driving their market share

Natural rubber (also known as India or gum rubber) is extracted from the milky liquid (latex) found in the Hevea Brasiliensis tree. The material is mainly used in flooring and roofing, gloves, adhesives, insulation, and tyres. Natural rubber is also widely used in production of footwear, automobiles, and other automotive components due to its high tear and tensile strength, resilience, and resistance to abrasion, friction, extreme temperatures, and water swell.

Synthetic rubber comes in various forms, such as styrene butadiene rubber (SBR), polybutadiene (BR), ethylene propylene (EPDM), nitrile BUTADIENE RUBBER (NBR), and acrylonitrile butadiene styrene (ABS), among others. According to rubber market report, the demand for these synthetic rubbers is driven by its extensive use in tire manufacturing. It offers enhanced properties like better wear resistance, lower rolling resistance, and improved performance under varying temperatures, which are crucial for tire performance.

Auto tyre segment is witnessing rapid growth due to rising number of passenger and commercial vehicles on roads

The auto tyre sector holds a major rubber market share. A significant portion of both natural and synthetic rubber produced globally is used for tire manufacturing. As the automotive sector grows, particularly with rising vehicle ownership in emerging economies, the demand for auto tyres, and consequently for rubber, increases. As per industry reports, China is a significant consumer of rubber, with 76% of its rubber used in tyre manufacturing.

Moreover, continuous innovation in tyre technology, such as the development of eco-friendly tyres, all-season tires, and high-performance tyres, drives the demand for different types of rubber. Innovations in rubber compounds, aimed at improving fuel efficiency, grip, and wear resistance of tyres, also influence market demand.

Leading Companies in the Rubber Market

Market players are focused on collaborations to gain a competitive advantage, with many companies investing in new product launches and mergers and acquisitions to expand their product portfolios

Arlanxeo

Arlanxeo�is a world-leading synthetic rubber company with a significant presence globally. Founded in 1990, it has its headquarters in Germany and employs around 3,900 people. Arlanxeo operates at 12 production sites worldwide, making it a significant player.

Kumho Petrochemical

Kumho Petrochemical�is a major petrochemical company based in Seoul, South Korea. Established in 1970, it has a strong presence in the production of synthetic rubbers. Its product portfolio includes synthetic rubbers, synthetic resins, speciality chemicals, electronic materials, nanocarbon, energy, and building materials.

LG Chem

LG Chem�is a major chemical company based in Seoul, South Korea. Founded in 1958, it has a strong focus on expanding its production capacity for nitrile butadiene latex (NBL) to become the world's top latex maker. The company aims to increase its annual capacity to over 1 million tonnes by 2025, further impacting the rubber market growth.

TSRC Corporation

TSRC Corporation�is a leading manufacturer of synthetic rubber and applied polymers in the Asia-Pacific region. Founded in 1973 and headquartered in Taiwan, East Asia. TSRC operates across Asia, North America, and Europe, with production bases in China, Thailand, and Taiwan itself.

Other key players in the global rubber market include Von Bundit Co., Ltd., Sri Trang Agro-Industry Plc., and Southland Holding Company, among others.

Rubber Market Analysis by Region

North America leads the market due to the presence of major rubber manufacturers and the high demand for rubber products

North America is a significant player in the market, with the United States being the largest consumer of rubber products. The region is home to several major rubber manufacturers, including Goodyear Tire & Rubber Company, Michelin, and Bridgestone. The demand for rubber products in North America is driven by the growth of the automotive industry, with the region being a major hub to produce tires and other rubber components. Additionally, the region's strong infrastructure and construction sectors also contribute to the demand for rubber products.

Asia-Pacific is the largest consumer of rubber products globally, accounting for major global production. The region is home to several major rubber-producing countries, including India, Thailand, Vietnam, Indonesia, and Malaysia. As per industry reports, India produced 839,000 tonnes of NR during 2022-23, a growth of 8.3% compared to 775,000 tonnes in 2021-22. The demand for rubber products in Asia-Pacific is further driven by the growth of the automotive and construction industries, as well as the increasing demand for consumer goods such as belts.

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