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The global rubber market size is expected to grow at a CAGR of 5.0% during the period 2024-2032. The market is expected to be driven by important uses of rubber in different industries, including aerospace, medical, defence, printing, automotive, agriculture, etc. North America, Europe and Asia are likely to be key markets.
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Rubber is a versatile material known for its elasticity, waterproof properties, and resilience. It can be natural or synthetic and has a wide range of applications in various industries. Natural rubber is a polymer of isoprene, typically harvested from the latex sap of rubber trees, whereas synthetic rubber is made from petroleum byproducts through a process called polymerisation, which involves bonding together small chemical units called monomers.
Its unique properties like elasticity, durability, and resistance to water and chemicals make it an essential material in many products and processes. The most well-known use of rubber, particularly natural rubber, is in the production of automobile tires. Rubber provides the necessary grip, durability, and resilience required for tires.
The rubber market outlook looks favourable due to the increasing demand in the automotive and footwear industries. Additionally, the growing application of rubber in the chemical and textile industries, as well as technological advancements, are contributing to the market's expansion. Furthermore, the growing economies of countries like India and China are supporting the demand for natural rubber, which is used in various products such as tyres, latex goods, and industrial durables.
Increasing demand from the automotive sector, growing demand for synthetic rubber, and advancements in rubber manufacturing technologies are factors boosting the rubber market expansion
June 2024
Liberia has established a National Board for Rubber to ensure an equitable determination of the monthly price of rubber. The move enables the country to enforce a ban on the exportation of unprocessed rubber. It will also protect small rubber farmers and create a stable environment for the sector.
June 2024
Weir introduced new sheet branding to validate the authenticity of its Linatex premium rubber. The branding features four rows of black Linatex logos along the length of the rubber roll, ensuring customers of authenticity of their premium rubber products.
June 2024
The Rubber Tapping Training Centre was inaugurated at TOKA MPCS Ltd. in Dimapur, Nagaland by the the Rubber Board of India. It will provide hands-on training to rubber farmers in the region, equipping them with the necessary skills to efficiently tap rubber trees and increase their productivity.
Increasing demand from the automotive sector
The rising popularity of electric vehicles (EVs) and the expansion of manufacturing bases by major automakers are expected to drive rubber market growth as rubber is primarily used in the production of automotive tires due to its toughness and tear resistance.
Growing demand for synthetic rubber
The demand for synthetic rubber is increasing due to its versatility and durability. Synthetic rubber is used in various applications, including tires, belts, hoses, and other industrial products.
Focus on sustainable rubber products
Another notable trend influencing rubber market development is the growing emphasis on eco-friendly rubber products. Manufacturers like Michelin and Bridgestone are launching bio-based rubber derived from renewable sources and implementing advanced recycling methods to reuse rubber products.
Technological advancements
New manufacturing techniques and materials are also driving the growth of the market as it improves the quality of rubber produced. For example, the use of nanotechnology and 3D printing is enhancing the properties of rubber, making it more suitable for various applications.
One of the crucial trends in market is the increased implementation of natural rubber in high-performance tyres for race cars, buses, and aircraft. It is also used in automotive parts, foam mattresses, battery boxes, rubber stamps, belts, medical devices, waterproof shoes, surfing wetsuits, swimming caps, and dishwasher hoses.
As per rubber market analysis, Thailand, Indonesia, Vietnam, India, China, Malaysia, the Philippines, and Guatemala are major producers of natural rubber (NR). According to the International Rubber Study Group (IRSG), world NR production during 2022 was 14.609 million tonnes compared to 13.804 million tonnes produced in 2021. Moreover, owing to its strength and compressibility, natural rubber is now being employed in engineering applications, like anti-vibration mounts, drive couplings, springs, bearings, rubber bands, and adhesives.
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The EMR’s report titled “Rubber Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by Region
Natural and synthetic rubbers have different uses across different industries, which is driving their market share
Natural rubber (also known as India or gum rubber) is extracted from the milky liquid (latex) found in the Hevea Brasiliensis tree. The material is mainly used in flooring and roofing, gloves, adhesives, insulation, and tyres. Natural rubber is also widely used in production of footwear, automobiles, and other automotive components due to its high tear and tensile strength, resilience, and resistance to abrasion, friction, extreme temperatures, and water swell.
Synthetic rubber comes in various forms, such as styrene butadiene rubber (SBR), polybutadiene (BR), ethylene propylene (EPDM), nitrile BUTADIENE RUBBER (NBR), and acrylonitrile butadiene styrene (ABS), among others. According to rubber market report, the demand for these synthetic rubbers is driven by its extensive use in tire manufacturing. It offers enhanced properties like better wear resistance, lower rolling resistance, and improved performance under varying temperatures, which are crucial for tire performance.
Auto tyre segment is witnessing rapid growth due to rising number of passenger and commercial vehicles on roads
The auto tyre sector holds a major rubber market share. A significant portion of both natural and synthetic rubber produced globally is used for tire manufacturing. As the automotive sector grows, particularly with rising vehicle ownership in emerging economies, the demand for auto tyres, and consequently for rubber, increases. As per industry reports, China is a significant consumer of rubber, with 76% of its rubber used in tyre manufacturing.
Moreover, continuous innovation in tyre technology, such as the development of eco-friendly tyres, all-season tires, and high-performance tyres, drives the demand for different types of rubber. Innovations in rubber compounds, aimed at improving fuel efficiency, grip, and wear resistance of tyres, also influence market demand.
Market players are focused on collaborations to gain a competitive advantage, with many companies investing in new product launches and mergers and acquisitions to expand their product portfolios
Arlanxeo is a world-leading synthetic rubber company with a significant presence globally. Founded in 1990, it has its headquarters in Germany and employs around 3,900 people. Arlanxeo operates at 12 production sites worldwide, making it a significant player.
Kumho Petrochemical is a major petrochemical company based in Seoul, South Korea. Established in 1970, it has a strong presence in the production of synthetic rubbers. Its product portfolio includes synthetic rubbers, synthetic resins, speciality chemicals, electronic materials, nanocarbon, energy, and building materials.
LG Chem is a major chemical company based in Seoul, South Korea. Founded in 1958, it has a strong focus on expanding its production capacity for nitrile butadiene latex (NBL) to become the world's top latex maker. The company aims to increase its annual capacity to over 1 million tonnes by 2025, further impacting the rubber market growth.
TSRC Corporation is a leading manufacturer of synthetic rubber and applied polymers in the Asia-Pacific region. Founded in 1973 and headquartered in Taiwan, East Asia. TSRC operates across Asia, North America, and Europe, with production bases in China, Thailand, and Taiwan itself.
Other key players in the global rubber market include Von Bundit Co., Ltd., Sri Trang Agro-Industry Plc., and Southland Holding Company, among others.
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North America leads the market due to the presence of major rubber manufacturers and the high demand for rubber products
North America is a significant player in the market, with the United States being the largest consumer of rubber products. The region is home to several major rubber manufacturers, including Goodyear Tire & Rubber Company, Michelin, and Bridgestone. The demand for rubber products in North America is driven by the growth of the automotive industry, with the region being a major hub to produce tires and other rubber components. Additionally, the region's strong infrastructure and construction sectors also contribute to the demand for rubber products.
Asia-Pacific is the largest consumer of rubber products globally, accounting for major global production. The region is home to several major rubber-producing countries, including India, Thailand, Vietnam, Indonesia, and Malaysia. As per industry reports, India produced 839,000 tonnes of NR during 2022-23, a growth of 8.3% compared to 775,000 tonnes in 2021-22. The demand for rubber products in Asia-Pacific is further driven by the growth of the automotive and construction industries, as well as the increasing demand for consumer goods such as belts.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Trade Data Analysis |
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Price Analysis |
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Competitive Landscape |
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Companies Covered |
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Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
Rubber Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Region
7 Opportunities and Challenges in the Market
8 Global Rubber Market Analysis
8.1 Key Industry Highlights
8.2 Global Rubber Historical Market (2018-2023)
8.3 Global Rubber Market Forecast (2024-2032)
8.4 Global Rubber Market by Type
8.4.1 Natural Rubber
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Synthetic Rubber
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Rubber Market by Application
8.5.1 Auto-Tyre Sector
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Non-Tyre Automotive
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Footwear
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Electrical and Electronics
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Rubber Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Rubber Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Rubber Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Rubber Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Rubber Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Rubber Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Data Analysis
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Arlanxeo
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Kumho Petrochemical
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 TSRC Corporation
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 LG Chem
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 Von Bundit Co., Ltd.
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Sri Trang Agro-Industry Plc.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Southland Holding Company
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Rubber Market: Key Industry Highlights, 2018 and 2032
2. Global Rubber Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Rubber Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Rubber Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Rubber Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Rubber Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Rubber Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Rubber Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Rubber Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Rubber Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Rubber Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Rubber Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Rubber Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Rubber Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Rubber Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Rubber Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Rubber Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Major Importing Countries by Value
19. Major Exporting Countries by Value
20. Major Importing Countries by Volume
21. Major Exporting Countries by Volume
22. North America Historical Price Trends and Forecast (2018-2032)
23. Europe Historical Price Trends and Forecast (2018-2032)
24. Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
25. Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
26. Middle East and Africa Historical Price Trend (2018-2023) and Forecast (2024-2032)
27. Global Rubber Market Structure.
The rubber market value is expected to grow at a CAGR of 5.0% between 2024 and 2032.
The major drivers of the market include the rising construction activities, superior properties of rubber, such as abrasion resistance, high heat resistance, and the development of novel products.
The important uses of rubber in different industries such as aerospace, medical, defence, printing, automotives, and agriculture and rising tire production are the key trends propelling the market's growth.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The different types of rubber in the market are natural rubber and synthetic rubber.
The major applications of the market are auto-tyre sector, non-tyre automotive, footwear, electrical and electronics, among others.
Latex, a milky liquid found in the latex vessels (ducts) or in the cells of rubber-producing plants, is the source of natural rubber. Only 2,500 of the approximately 20,000 plant species that produce latex have been found to have rubber in their latex.
Key players in the market are Arlanxeo, Kumho Petrochemical, TSRC Corporation, LG Chem, Von Bundit Co., Ltd., Sri Trang Agro-Industry Plc., and Southland Holding Company, among others.
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