Industrial Rubber Market

Global Industrial Rubber Market Overview

Industrial Rubber Market Size was valued at USD 26.98 Billion in 2023. The Industrial Rubber industry is projected to grow from USD 28.22 Billion in 2024 to USD 38.67 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.02% during the forecast period (2024 - 2032). Increased usage of rubber in various industries and the rise in demand for rubber in automotive applications are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Industrial Rubber Market Trends

• The growing adoption of rubber in the automotive industry is driving the market growth.

Market CAGR for industrial rubber is driven by the rising adoption of rubber in automotive applications. The automotive sector demands rubber components with excellent durability, reliability, and performance to meet the stringent requirements of vehicle safety, comfort, and efficiency. Rubber is extensively used in tires, belts, hoses, seals, gaskets, and other critical automotive parts. With the increasing demand for electric and hybrid vehicles, there is a growing need for specialized rubber materials that can withstand the unique operating conditions of these vehicles, such as high torque, temperature variations, and prolonged battery life. Moreover, the increasing focus on light-weighting vehicles to improve fuel efficiency has led to the development of advanced rubber compounds that offer weight reduction and enhanced performance.

Additionally, with a rising emphasis on sustainability and environmental consciousness, manufacturers and consumers alike are seeking rubber materials that are sourced and processed in an environmentally responsible manner. Stringent carbon emission regulations drive the market, growing consumer awareness about sustainable products and the need to reduce the environmental impact of industrial operations. As a result, there has been a rise in the development and adoption of bio-based rubber materials, recycled rubber products, and sustainable manufacturing processes.

Rapid technological innovations have enabled manufacturers to enhance rubber products' quality, efficiency, and customization capabilities. Advanced manufacturing processes, such as injection molding, extrusion, and compression molding, have revolutionized the production of rubber components, allowing for complex geometries, improved precision, and faster production cycles. Additionally, automation and robotics have played a vital role in optimizing production processes, reducing labor costs, and ensuring consistent product quality. Integrating digital technologies, such as artificial intelligence and machine learning, has further enhanced manufacturing capabilities by enabling predictive maintenance, real-time monitoring of production parameters, and data-driven decision-making.

For instance, the industrial rubber market is experiencing notable trends, such as the growing demand for eco-friendly rubber products, advancements in manufacturing technologies, and the increasing adoption of rubber in automotive applications. These trends reshape the industry landscape and present new opportunities for manufacturers, driving the Industrial Rubber market revenue.

Deesawala Rubber Industries announced the opening of their fourth manufacturing facility in Hyderabad in May 2024. The mfg unit covers an area of 40,000 sqft on a 1.50-acre piece of land, and it has various machinery and a testing lab. A fully operational unit will triple the current output from 8 tonnes to 25 tonnes per day. The Company has three manufacturing units in the city, employing 200 people. According to the manufacturers for the new site, recruitment will be done in phases with just two hundred employees this time, while for a full-fledged plant, five hundred staff members will be required.

Industrial Rubber Market Segment Insights

Industrial Rubber Type Insights

The Industrial Rubber market segmentation, based on type, includes natural and synthetic. The synthetic segment dominated the market, producing it through various processes such as polymerization and copolymerization. Synthetic rubber offers advantages such as better resistance to heat, chemicals, and abrasion than natural rubber. The rising demand for synthetic rubber in the automotive industry and the growth of the manufacturing sector are propelling the synthetic rubber segment.

Industrial Rubber Product Insights

The Industrial Rubber market segmentation, based on product, includes tires, seals, and hoses. The tires category generated the most income. As vehicles on the road increase, the tire demand also rises. Moreover, introducing advanced tire technologies, such as low rolling resistance and run-flat tires, has fueled the demand.

Industrial Rubber Product Processing Insights

The Industrial Rubber market segmentation, based on product processing, includes extrusion and calendaring. The extrusion category generated the most income. It is commonly used to produce rubber hoses, seals, and gaskets. The advantages of extrusion include high production efficiency, consistency, and the ability to manufacture complex shapes.

Figure 1: Industrial Rubber Market, by Product Processing, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Industrial Rubber Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Industrial Rubber market area will have significant market growth due to the presence of major automotive manufacturers, its advanced manufacturing infrastructure, and the high demand for industrial rubber products. The increasing emphasis on sustainable and eco-friendly rubber products in North America is expected to drive market growth in the region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: INDUSTRIAL RUBBER MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Industrial Rubber market accounts for the dominating market share due to the growth of various end-use industries such as automotive, construction, and healthcare. Implementing stringent product quality and safety regulations further enhances the demand for high-performance industrial rubber products in the region. Further, the German Industrial Rubber market held the largest market share, and the UK Industrial Rubber market was the rapid-growing market in the European region.

The Asia-Pacific Industrial Rubber Market is expected to grow at the fastest CAGR from 2023 to 2032. It is due to the significant industrialization, urbanization, and infrastructure development that drive the demand for industrial rubber products. The rising disposable income and changing patterns in the region also enhance the growth of the automotive and construction sectors, thereby driving the demand for industrial rubber products. Moreover, China’s Industrial Rubber market held the largest market share, and the Indian Industrial Rubber market was the rapid-growing market in the Asia-Pacific region.

Industrial Rubber Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Industrial Rubber market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Industrial Rubber industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Industrial Rubber industry to benefit clients and increase the market sector. In recent years, the Industrial Rubber industry has offered some of the most significant advantages to medicine. Major players in the Industrial Rubber market, including Sinopec (China), LANXESS (Germany), LG Chemical (South Korea), Bridgestone Corporation (Japan), Kumho Petrochemical (South Korea), The Goodyear Tire & Rubber Company (U.S.), JSR Corporation (Japan), ZEON CORPORATION (Japan), Versalis S.P.A. (Italy), TSRC (Taiwan), PJSC "Nizhnekamskneftekhim" (Russia), and others, are attempting to increase market demand by investing in research and development operations.

Kumho Petrochemical Company Ltd., founded in 1970, and located in Seoul, South Korea, is a Korean international company that manufactures synthetic rubbers, synthetic resins, specialty chemicals, energy, electronic chemicals, and advanced materials as core businesses. In June 2018, Kumho Petrochemical announced the NB Latex production capacity expansion from 400 to 550 KT per annum at its manufacturing plant in Ulsan. The spreading is expected to be completed by the first quarter of 2019.

Cabot Corporation, founded in 1882, and located in Boston, Massachusetts, USA, is an American international company specializing in chemicals and performance materials. It operates in over 20 countries with over 30 manufacturing plants, several research & development facilities, and sales offices. In February 2023, Cabot Corporation launched its new E2C DX9660 solution designed to deliver significantly increased rubber durability through high abrasion resistance. The new product provides a 30% increase in abrasion resistance compared to a conventional compound. It expands Cabot's portfolio of E2C solutions for use in a wide range of on-road commercial tire applications and industrial rubber products.

EVOLVE Sustainable Solutions powers Cabot Corporation’s first ever ISCC PLUS certified black masterbatch products introduced by ISCC PLUS certified black masterbatches are made from recycled carbon content according to EN ISO/IEC 17033 as well as ASTM D7856-13 standard requirements. The world does not commonly witness such an occurrence, especially among start-ups, because these firms lack the resources needed for consistency when it comes to supply lines that support recycling efforts within them. Great news for the recycling industry then when one of the world’s largest suppliers in the plastic industry and a major player in the rubber sector, Cabot Corporation, comes up with sustainable products that can be accepted by manufacturers. The Company announced its products – the REPLASBLAK range of circular black masterbatches, which are supplied with certified material. The firm has just brought three new items to market.

Key Companies in the Industrial Rubber market include

• Sinopec (China)
• LANXESS (Germany)
• LG Chem (South Korea)
• Bridgestone Corporation (Japan)
• KUMHO PETROCHEMICAL (South Korea)
• The Goodyear Tire & Rubber Company (U.S.)
• JSR Corporation (Japan)
• ZEON CORPORATION (Japan)
• Versalis S.P.A. (Italy)
• TSRC (Taiwan)
• PJSC "Nizhnekamskneftekhim" (Russia)

Industrial Rubber Industry Developments

January 2022: Bolder Industries, a forerunner in advanced sustainable chemical manufacture derived from end-of-life tires, provides huge environmental savings to the rubber and plastics industries and their customers. In this process, 98% of the tire's components are used, and 75% of the liquids and solids are recycled into new tyres, manufactured rubber goods and plastics. A minimum of 70 new employment will be generated, with a total investment value of 100 million euros for these two new participants. The intention is to begin operations by 2024 after receiving the necessary approvals.

September 2021: The capacity of nitrile latex at Apcotex Industries' current plants in India would grow by 60 kilotonnes annually, the company recently stated. The projects should be finished by the third quarter of 2022, the company said in a statement sent to ERJ on September 9th. The business claims that because the demand for nitrile gloves is expected to develop fast over the next years, capacity will be boosted by 30 ktpa in the upcoming phase. According to Apcotex, it has produced nitrile latex from its current plants for a number of years and has created a distinctive, superior product that is also reasonably priced. In addition to paper, construction, tyres, textiles, footwear, automotive components, hoses, and industrial rubber, these goods are used in many other sectors as well.

Industrial Rubber Market Segmentation

Industrial Rubber Type Outlook

• Natural
• Synthetic

Industrial Rubber Product Outlook

• Tires
• Seals
• Hoses

Industrial Rubber Product Processing Outlook

• Extrusion
• Calendering

Industrial Rubber Regional Outlook

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Australia
  • Rest of Asia-Pacific
• Rest of the World
  • Middle East
  • Africa
  • Latin America

Industrial Rubber Type Outlook (USD Billion, 2018-2032)

• Natural

• Synthetic

Industrial Rubber Product Outlook (USD Billion, 2018-2032)

• Tires

• Seals

• Hoses

Industrial Rubber Product Processing Outlook (USD Billion, 2018-2032)

• Extrusion

• Calendering

Industrial Rubber Regional Outlook (USD Billion, 2018-2032)

• North America Outlook (USD Billion, 2018-2032)

  • North America Industrial Rubber by Type

    • Natural

    • Synthetic

  • North America Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • North America Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • US Outlook (USD Billion, 2018-2032)

  • US Industrial Rubber by Type

    • Natural

    • Synthetic

  • US Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • US Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • CANADA Outlook (USD Billion, 2018-2032)

  • CANADA Industrial Rubber by Type

    • Natural

    • Synthetic

  • CANADA Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • CANADA Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

• Europe Outlook (USD Billion, 2018-2032)

  • Europe Industrial Rubber by Type

    • Natural

    • Synthetic

  • Europe Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Europe Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Germany Outlook (USD Billion, 2018-2032)

  • Germany Industrial Rubber by Type

    • Natural

    • Synthetic

  • Germany Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Germany Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • France Outlook (USD Billion, 2018-2032)

  • France Industrial Rubber by Type

    • Natural

    • Synthetic

  • France Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • France Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • UK Outlook (USD Billion, 2018-2032)

  • UK Industrial Rubber by Type

    • Natural

    • Synthetic

  • UK Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • UK Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • ITALY Outlook (USD Billion, 2018-2032)

  • ITALY Industrial Rubber by Type

    • Natural

    • Synthetic

  • ITALY Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • ITALY Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • SPAIN Outlook (USD Billion, 2018-2032)

  • Spain Industrial Rubber by Type

    • Natural

    • Synthetic

  • Spain Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Spain Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Rest Of Europe Outlook (USD Billion, 2018-2032)

  • Rest Of Europe Industrial Rubber by Type

    • Natural

    • Synthetic

  • Rest Of Europe Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Rest Of Europe Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

• Asia-Pacific Outlook (USD Billion, 2018-2032)

  • Asia-Pacific Industrial Rubber by Type

    • Natural

    • Synthetic

  • Asia-Pacific Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Asia-Pacific Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • China Outlook (USD Billion, 2018-2032)

  • China Industrial Rubber by Type

    • Natural

    • Synthetic

  • China Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • China Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Japan Outlook (USD Billion, 2018-2032)

  • Japan Industrial Rubber by Type

    • Natural

    • Synthetic

  • Japan Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Japan Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • India Outlook (USD Billion, 2018-2032)

  • India Industrial Rubber by Type

    • Natural

    • Synthetic

  • India Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • India Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Australia Outlook (USD Billion, 2018-2032)

  • Australia Industrial Rubber by Type

    • Natural

    • Synthetic

  • Australia Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Australia Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)

  • Rest of Asia-Pacific Industrial Rubber by Type

    • Natural

    • Synthetic

  • Rest of Asia-Pacific Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Rest of Asia-Pacific Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

• Rest of the World Outlook (USD Billion, 2018-2032)

  • Rest of the World Industrial Rubber by Type

    • Natural

    • Synthetic

  • Rest of the World Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Rest of the World Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Middle East Outlook (USD Billion, 2018-2032)

  • Middle East Industrial Rubber by Type

    • Natural

    • Synthetic

  • Middle East Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Middle East Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Africa Outlook (USD Billion, 2018-2032)

  • Africa Industrial Rubber by Type

    • Natural

    • Synthetic

  • Africa Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Africa Industrial Rubber by Product Processing

    • Extrusion

    • Calendering

  • Latin America Outlook (USD Billion, 2018-2032)

  • Latin America Industrial Rubber by Type

    • Natural

    • Synthetic

  • Latin America Industrial Rubber by Product

    • Tires

    • Seals

    • Hoses

  • Latin America Industrial Rubber by Product Processing

    • Extrusion

    • Calendering