Industrial Rubber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers Industrial Rubber Manufacturers and the Market is Segmented by application (conveyor belts, transmission belts, pressure hoses, and other applications) and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The market size and forecasts are Provided in terms of revenue (USD million) for all the above segments.

Industrial Rubber Market Size

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Industrial Rubber Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 4.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Industrial Rubber Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Industrial Rubber Market Analysis

The industrial rubber market is projected to register a CAGR of more than 4% during the forecast period.

The COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is expected to grow steadily in the future.

  • The growth of the market is likely to be driven by the increasing use of industrial rubber in conveyors and transmission belts and the growing demand for high-pressure hoses from different end-user industries.
  • On the other hand, strict rules about the environment are likely to slow the growth of the market that was studied.
  • Further, the introduction of new manufacturing techniques to reduce hazardous waste is expected to create market opportunities in the future.
  • The Asia-Pacific region dominated the market for industrial rubber, with India, China, and Japan representing major countries in terms of consumption.

Industrial Rubber Market Trends

Increasing Application as Conveyor and Transmission Belts

  • Industrial rubber finds significant use in the manufacture of conveyor belts and transmission belts. In the material handling industry, conveyor belts act as a continuous loop system for carrying materials like coal, minerals, ore, and others, making these industries dependent on their use.
  • Industrial rubber also has a major application in the automobile industry. They are used as car and worker conveyor belts, belts for conveying metal sheets and plastic parts, transportation within metal stamping and vacuum lines, and making other drive belts.
  • In the first three quarters of 2022, around 50 million passenger cars were manufactured worldwide, up nearly 9% compared to the same quarter in the previous year, as per the European Automobile Manufacturers' Association (ACEA) report.
  • Also, the China Association of Automobile Manufacturing says that the number of New Energy Vehicles made in the country rose by 96.9% from December 2021 to December 2022.Thus, the expanding electric vehicle market is expected to increase market demand during the forecast period.
  • The application of industrial rubber is rapidly increasing in mining and other major industries, with China, Germany, the United Kingdom, the United States, and India playing major roles in this market.
  • According to the United States Geological Survey (USGS), in 2022, non-fuel mineral commodities produced by U.S. mines were worth about USD 98.2 billion. thus boosting the growth of the market.
  • Also, the USGS spent USD 74 million on a number of projects to collect geochemical, geological, and geophysical data in order to improve the mapping of important mineral resources in the US by 2022.thus supporting the demand for industrial rubber during the forecast period.

Therefore, the aforementioned factors are expected to have a significant impact on the market in the coming years.

Industrial Rubber Market: Production of New Energy Vehicles, Y-o-Y (%) January-December, China, 2022

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the market during the forecast period. With the growing application of industrial rubber in countries such as China, India, Japan, South Korea, and Malaysia, its demand has been increasing in the region.
  • In the Asia-Pacific region, countries like India and China account for a significant share of the global mining industry.
  • For example, the Ministry of Mines of the Indian Government said that in the fiscal year 2022, almost half of India's mineral production came from the state of Odisha. Meanwhile, Chhattisgarh provided roughly 16% of the nation's overall mineral production value.
  • The use of industrial rubber has been increasing rapidly because of its wide application in the manufacturing of hose pipes, drive belts, and pneumatic valves, apart from conveyor belts. These products find wide application in the automotive industry.
  • According to the China Association of Automobile Manufacturers (CAAM), China has the largest automotive production base in the world, with a total vehicle production of 27 million units in 2022, registering an increase of 3.4 percent compared to the 26 million units produced last year.
  • Further, in the first 7 months of 2022, the country has produced 14.57 million units of cars, registering a growth rate of 31.5% year on year. thus supporting the demand for industrial rubber in the region.

Therefore, the aforementioned factors are expected to have a significant impact on the market in the coming years.

Industrial Rubber Market - Growth Rate by Region, 2023-2028

Industrial Rubber Industry Overview

The industrial rubber market is fragmented in nature. Some of the major players in the market include THE YOKOHAMA RUBBER CO., LTD., UBE Corporation, Rondex (Thailand) Co., Ltd., Bridgestone Corporation, and China Petrochemical Corporation, among others.

Industrial Rubber Market Leaders

  1. Rondex (Thailand) Co., Ltd.

  2. THE YOKOHAMA RUBBER CO.,LTD.

  3. Bridgestone Corporation

  4. UBE Corporation

  5. China Petrochemical Corporation

*Disclaimer: Major Players sorted in no particular order

Industrial Rubber Market Concentration
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Industrial Rubber Market News

  • March 2023: Yokohama Rubber Co., Ltd. launched the Hamaheat Super 80, a high-temperature heat-resistant conveyor belt from the Hamaheat series. This conveyor belt is suitable for high-temperature conveyance up to an allowable belt surface temperature of 180°C/350.
  • February 2023: Cabot Corporation launched its new E2C DX9660 solution that is 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 and expands Cabot's portfolio of E2C solutions for use in a wide range of on-road commercial tire applications and industrial rubber products.

Industrial Rubber Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Application as Conveyor and Transmission Belts

      2. 4.1.2 Growing Demand for High-pressure Hoses

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Application

      1. 5.1.1 Conveyor Belts

      2. 5.1.2 Transmission Belts

      3. 5.1.3 Pressure Hoses

      4. 5.1.4 Other Applications

    2. 5.2 By Geography

      1. 5.2.1 Asia Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Rest of Asia Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 France

        4. 5.2.3.4 Italy

        5. 5.2.3.5 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle-East and Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%) Analysis**/Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AMMEGA

      2. 6.4.2 Bando Chemical Industries, LTD.

      3. 6.4.3 Bridgestone Corporation

      4. 6.4.4 China Petrochemical Corporation

      5. 6.4.5 Denka Company Limited

      6. 6.4.6 Rondex (Thailand) Co. Ltd.

      7. 6.4.7 SIBUR Holding PJSC

      8. 6.4.8 The Goodyear Tire & Rubber Company

      9. 6.4.9 THE YOKOHAMA RUBBER CO., LTD.

      10. 6.4.10 Trinseo

      11. 6.4.11 TSRC

      12. 6.4.12 UBE Corporation

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Introducing New Manufacturing Techniques to Reduce Hazardous Waste

**Subject to Availability
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Industrial Rubber Industry Segmentation

Industrial rubber is made of polymers and finds its major application in end-user industries, including mining, automotive, and others. In the automotive industry, industrial rubber is mainly used as flexible shaft couplings, drive belts, high-pressure hoses, process control rubber sheets, and others. In the mining industry, it is used to make conveyors and transmission belts to carry minerals. The industrial rubber market is segmented by application and geography. By application, the market is segmented into conveyor belts, transmission belts, pressure hoses, and other applications. The report also covers the market size and forecasts in 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of revenue (USD million).

By Application
Conveyor Belts
Transmission Belts
Pressure Hoses
Other Applications
By Geography
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Industrial Rubber Market Research FAQs

The Industrial Rubber Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)

Rondex (Thailand) Co., Ltd., THE YOKOHAMA RUBBER CO.,LTD., Bridgestone Corporation, UBE Corporation and China Petrochemical Corporation are the major companies operating in the Industrial Rubber Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Industrial Rubber Market.

The report covers the Industrial Rubber Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Rubber Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Industrial Rubber Industry Report

Statistics for the 2024 Industrial Rubber market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Rubber analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Industrial Rubber Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)