Industrial Rubber occurs naturally or can be commercially synthesized. Natural rubber is obtained from tree Hevea brasiliensis, the polymer content of which depends on a variety of factors such as weather, soil type, geographical area, and others. Various grades of natural rubber are a ribbed smoked sheet, air-dried sheet, and pale crepe rubber. However, synthetic rubber can be formed using crude oil by-products through emulsion polymerization techniques. Also, they contain lesser impurities, and their properties can be adjusted accordingly. Thus, the synthetic type industrial rubber is the leading segment.
The Global Industrial Rubber Market is segmented on the basis of the product into tires, seals, shock-absorbing parts, conveyor belts, hoses, roofing, adhesives & sealants, sports equipment, and others. Among these, the tires segment is leading the Global Industrial Rubber Market owing to the increasing sale of automotive, especially in the emerging economies.
The products formed by the rubber are processed using the various processes such as extrusion, roller dies calendering, coating, molding & casting. Among these, the roller die is the leading segment as it offers the better quality product as compared to the extrusion and calendering process.
The End-User Industry Segment includes automotive, building & construction, industrial manufacturing, electrical & electronics, and others. The high demand for rubber tires from the automotive industry is the major driver of the market growth. Also, the shifting focus towards the manufacturing of tires with increased fuel economy is expected to propel the demand for eco-friendly automotive. Following automotive, the building & construction segment accounts for the second largest market share and is projected to fuel the market growth due to the fast-paced urbanization in the emerging countries.
Some of the manufacturers operating in the Global Industrial Rubber Market are LANXESS (Germany), Bridgestone Corporation (Japan), LG Chem (South Korea), Sinopec (China), The Goodyear Tire & Rubber Company (U.S.), KUMHO PETROCHEMICAL (South Korea), TSRC (Taiwan), JSR Corporation (Japan), Versalis S.p.A. (Italy), PJSC “Nizhnekamskneftekhim” (Russia), and ZEON CORPORATION (Japan).
The Global Industrial Rubber Market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific accounted for the largest market share in 2016 on account of the high demand for industrial rubber from major end-use industries such as automotive, construction, and electronics.
North America accounted for the second largest market in 2016 on account of high demand for industrial rubber from the reviving construction, and automotive industries.
Europe is expected to grow considerably due to high production and sales of automotive parts and the high investment in healthcare.
Latin America and the Middle East & Africa are projected to witness significant growth owing to the growing automotive and infrastructure industry in respective regions.