PUBLISHER: The Business Research Company | PRODUCT CODE: 1659171
PUBLISHER: The Business Research Company | PRODUCT CODE: 1659171
Industrial rubber encompasses a range of rubber materials used in the production of various industrial goods, spanning industries like mining and power generation. These rubber products must meet diverse performance criteria, including resistance to fluids, conductivity, friction levels, permeability, and dynamic properties. The specific form of rubber utilized in manufacturing significantly impacts the strength, durability, and capabilities of the end product.
Within the realm of industrial rubber, two primary types are natural industrial rubber and synthetic industrial rubber. Natural industrial rubber finds application across diverse industrial sectors, including medical devices, surgical gloves, aircraft and automobile tires, clothing, and more. Derived from the latex sap of rubber trees, it undergoes processes like injection molding, compression molding, extrusion, and others to create a spectrum of products, from mechanical rubber goods to rubber hoses, belts, roofing materials, and more. Its utilization spans industries such as automotive, construction, manufacturing, polymer modification, electrical and electronics, wire and cable, bitumen modification, coatings, sealants, adhesives, healthcare, and beyond.
The industrial rubber market research report is one of a series of new reports from The Business Research Company that provides industrial rubber market statistics, including industrial rubber industry global market size, regional shares, competitors with a industrial rubber market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the industrial rubber industry. This industrial rubber market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial rubber market size has grown strongly in recent years. It will grow from $44.58 billion in 2024 to $47.61 billion in 2025 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 $62.95 billion in 2029 at a compound annual growth rate (CAGR) of 7.2%. 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.
The anticipated growth in the automotive industry is expected to significantly boost the industrial rubber market moving forward. The automotive sector includes industries involved in the manufacturing, wholesale, retail, and repair of automobiles. Rising living standards and a growing economy have changed purchasing power, while the economic impact of COVID-19 has led to a substantial increase in demand for personal mobility worldwide. Additionally, concerns over climate change and the push for net-zero emissions are driving a global transition toward emission-free transportation. This shift has resulted in heightened production of electric vehicles (EVs) and hybrid models. The surge in automotive demand has consequently increased the production and need for industrial rubber, which is utilized in various vehicle interiors and exteriors. For example, in 2023, the Organisation Internationale des Constructeurs d'Automobiles (OICA), a France-based international association of automobile manufacturers, reported that total vehicle production in the global automotive industry reached 84.83 million units in 2022, up from 80 million units in 2021. This 6% year-over-year growth highlights the industry's resilience and its capacity to recover despite challenging economic circumstances. Therefore, the growth in the automotive sector is set to drive the industrial rubber market.
The growing demand within the building and construction industry is projected to drive the growth of the industrial rubber market in the future. This industry encompasses the sector of the economy engaged in the planning, design, development, construction, and maintenance of structures and infrastructure. Industrial rubber plays a crucial role in this sector by offering durability, weather resistance, waterproofing, sealing, insulation, sound dampening, shock absorption, and vibration isolation. For instance, in July 2024, the US Census Bureau, a government agency, reported that the value of construction operations increased from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. Therefore, the rising demand in the building and construction sector is significantly propelling the growth of the industrial rubber market.
A prominent trend shaping the industrial rubber market is the rapid advancement in technology. Key players in this market are introducing innovative products and technologies, emphasizing sustainability and environmental responsibility to fortify their market presence. For instance, in August 2022, Global Rubber Industries (GRI), a tire manufacturer from Sri Lanka, unveiled the Green XLR Earth series of radial agricultural tires. This groundbreaking product represents the industry's first sustainable tire series for the agricultural sector, integrating sustainable technology. Comprising 37.5% sustainable materials and a high percentage of recycled carbon black to reduce its carbon footprint, these tires also feature soybean oil, a renewable resource. This formulation ensures that natural rubber retains its original properties, enhancing overall tire performance while prioritizing sustainability.
Prominent players within the industrial rubber market are directing their focus towards pioneering products like industrial rubber tracks to drive revenue growth. These tracks, consisting of continuous rubber and steel belts, find application across various tracked vehicles like bulldozers, excavators, and tractors. Notably, in April 2023, Balkrishna Industries Limited, an Indian tire manufacturer, introduced the Multiforce BK T91. Featuring an aggressive C-shaped tread pattern with numerous edges, this product offers exceptional traction on diverse terrains, both on and off-road, encompassing surfaces like sand, gravel, clay, and mud. Rubber tracks have proven highly beneficial, enhancing vehicle and machinery mobility and stability in challenging environments. The Multiforce BK T91 stands out as an ideal solution, providing heightened resistance against cuts, tears, and abrasions that significantly impact product performance and durability. Its tread is crafted from a high-performance compound, ensuring optimal performance.
In May 2023, AFC Industries, a US-based company specializing in industrial solutions, acquired EAP International Limited for an undisclosed amount. This strategic acquisition aims to enhance AFC Industries' service delivery in the U.K. by leveraging synergies, expanding market presence, and providing local access to high-quality rubber sealing products for manufacturers. EAP International, a UK-based manufacturing company, is recognized for its expertise in rubber sealing products within the industrial sector. This move is expected to strengthen AFC Industries' position in the market and improve its overall service offerings.
Major companies operating in the industrial rubber market 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.
Asia-Pacific was the largest region in the industrial rubber market share in 2024. The regions covered in the industrial rubber market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the industrial rubber market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial rubber market consists of sales of hand gloves, industrial footwear, waterproof bags, door stoppers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Rubber Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial rubber market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial rubber ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial rubber market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.