Market Size of Industrial Rubber Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 15.73 Billion |
| Market Size (2029) | USD 18.96 Billion |
| CAGR (2024 - 2029) | 3.81 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Industrial Rubber Market Analysis
The Industrial Rubber Market size is estimated at USD 15.73 billion in 2024, and is expected to reach USD 18.96 billion by 2029, growing at a CAGR of 3.81% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the industrial rubber market in 2020 because of the disruptions in the supply chain of raw materials and finished products. However, the market recovered in 2021 and marked year-on-year growth later on.
- 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.
- Strict rules about the environment are likely to decelerate the growth of the market studied.
- 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.
