Pune, May 15, 2020 (GLOBE NEWSWIRE) -- The global rubber market is set to gain traction from their ever-increasing usage in a wide range of end user industries. It is mainly occurring because rubber possesses several properties, such as abrasion and heat resistance. It is majorly utilized for the production of roll coverings, gaskets, hoses, adhesives, crap tubes, and tires. This information is given by Fortune Business Insights™ in a published report, titled, “Rubber Market Size, Share & Industry Analysis, By Type (Natural, and Synthetic), By Application (Tire, Non-Tire Automotive, Footwear, Industrial Goods, and Others), and Regional Forecast 2019-2026.” The report further mentions that the rubber market size was USD 40.71 billion in 2018. It is projected to reach USD 60.38 billion by 2026, thereby exhibiting a CAGR of 5.1% during the forecast period.
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This Report Answers the Following Questions:
- Which region is anticipated to lead in terms of revenue in the coming years?
- Which segment is likely to dominate during the forthcoming period by generating the largest share?
- What are the market trends, growth drivers, challenges, and opportunities?
- How will the prominent companies surge sales of rubber to intensify competition?
Drivers & Restraints:
Usage of Rubber in Footwear Industry to Boost Growth
Rubber is predominantly used in the automotive industry as a raw material for manufacturing a broad range of products. Besides, it is experiencing high demand from the non-tire and tire automotive parts sector. It consists of numerous properties, namely, flexibility, insulation properties, and weather resistance. Apart from that, it is used to produce textiles, construction items, industrial goods, footwear, and other similar consumer goods. In footwear, it is used extensively to provide protection against low temperatures, the impact of electricity, chemicals, and water. These factors are likely to propel the rubber market growth in the coming years.
Segmentation:
Tire Segment to Lead Owing to Surging Demand from Automotive Industry
In terms of application, the market is segregated into industrial, footwear, non-tire automotive, tire, and others. Amongst these, the tire segment is expected to lead the market throughout the forthcoming years. This growth is attributable to a surge in the rate of production of tires in several regions worldwide. The main reason behind this is the high demand from the automotive sector. The non-tire automotive segment held 13.4% rubber market share in 2018 and would remain in the second position backed by the usage of rubber in the production of bushings, pads on pedals, and floor mats.
Browse Summary of This Research Report with Detailed Table of Content:
https://www.fortunebusinessinsights.com/industry-reports/rubber-market-101612
Regional Analysis:
Rising Construction Activities to Favor Growth in Asia Pacific
Based on region, the market is divided into Europe, Latin America, North America, the Middle East and Africa, and Asia Pacific. Out of these, North America procured USD 5.95 billion revenue in 2018. This growth is attributable to the increasing demand for footwear and automotive applications. Coupled with this, technological advancements, as well as the rising usage in textile and chemical industries would aid growth in this region. Asia Pacific, on the other hand, is considered to be the largest consumer and producer of rubber. China is the biggest consumer, whereas Thailand is the producer of natural rubber. Also, the rising construction and tire production activities would augment growth in this region.
Competitive Landscape:
Key Players Focus on Investment & Product Launches to Widen Geographic Presence
The market is highly fragmented with the presence of several companies. They are striving persistently to broaden their geographic footprint and product portfolio by adopting the strategies of novel product launches and investment plans.
Below are the Latest Key Industry Developments:
- February 2019: SIBUR, a petrochemical company based in Russia, is set to invest huge sums to improve the efficiency of polybutadiene rubber production at its facility situated in Voronezh. The completion of this project is expected to occur by the end of 2021.
- June 2018: Lanxess AG, a specialty chemicals company headquartered in Germany, unveiled a wide range of additives in Germany for rubber processing. These products will offer unique methods and solutions that would further aid in lowering health risk and accelerating productivity.
Fortune Business Insights™ lists out the names of all the rubber manufacturers present in the market. They are as follows:
- Ravasco
- ARLANXEO
- Petrochina
- Unitex Rubber
- Kumho Petrochemical
- Vietnam Rubber Group
- TSRC Corporation
- Halcyon Agri
- LG Chem
- Tong Thai Rubber Group
- Versalis
- Sri Trang Agro-Industry
- Dow Chemicals
- Tradewinds Plantation Berhad
- Southland Holding Lonza
- Von Bundit
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Trends
- Overview of Global Natural Rubber Production
- Overview of Global Synthetic Rubber Production
- Overview of Global Automotive Production
- Global Rubber Market Analysis, Insights and Forecast, 2014-2025
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Natural Rubber
- Synthetic Rubber
- Market Analysis, Insights and Forecast – By Application
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Have a Look at Related Research Insight:
Rubber Foam Market Size, Share & Industry Analysis, By Rigidity (Rigid Foam, Flexible Foam), By Foam Type (Polyurethane Foam, Cross-linked Polyethylene Foam, Neoprene Foam, Silicone Foam, Polyvinyl Chloride – Nitrile Butadiene Rubber (PVC – NBR blend) Foam, Others), By Application (Household Furnishing, Construction, Automotive) Others and Regional Forecast, 2019-2026
Synthetic Rubber Market Size, Share & Industry Analysis By Type (Polybutadiene Rubber (BR), Styrene-Butadiene Rubber (SBR), Nitrile Rubber (NBR), Ethylene Propylene Diene Monomer (EPDM), Others), By Application (Tire, Non-Tire Automotive, Footwear, Industrial Goods, Others) Others and Regional Forecast, 2019-2026
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