Rubber Market Insight, Outlook, 2022-2028

1. Rubber Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2021-2028

2. Global Rubber Market- Industry Trends & Forecast Report 2028 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global rubber market was worth USD 36.5 billion in the year 2021 and is projected to surpass USD 50 billion by 2028. The global rubber market is flourishing at a high rate owing to the expanding production of automobiles, propelling demand for tires and other automotive parts such as shock absorbers, protective pads, etc. Furthermore, the expanding use of rubber in the production of non-industrial goods such as cooking spatulas, shower mats, dishwashing gloves, etc. However, the negative impact of synthetic rubber on the environment may act as a huge restraining factor for the growth of the global rubber market growth.

3. Growth Drivers  Expanding Production of Natural Rubber The rising demand for rubber is also fueling the production of natural rubber in the market. The negative impact of synthetic rubber on the environment is prompting the users to shift towards natural rubber, which is directly influencing the production of natural rubber. Countries such as Thailand, Indonesia, Malaysia, etc., that are major producers of natural rubber are significantly investing in expanding the production to meet the surging global demand, which is anticipated to drive the market growth in the forecast period.

4. Restraints Negative Impact of Synthetic Rubber on Environment Synthetic rubber is very useful as well as low in cost compared to natural rubber. However, it also poses dangers to the environment, which acts as a major restraining factor for the global rubber market. SBR and butadiene, which are in the family of synthetic rubber and are used in manufacturing, are primary sources of pollution. These compounds are not biodegradable, which means when the wastewater is discharged into the water bodies, it affects the oxygen level in the water and increases the toxin levels, eventually harming marine life.

5. Impact of COVID-19 on China Construction Machinery Market The unprecedented COVID-19 pandemic outbreak tremendously halted the growth of the global rubber market. This is mainly due to the disruptions in the manufacturing and supply chains of the end-user industries including tires, automotive, footwear, industrial goods, etc. Furthermore, several countries including China, India, Brazil, etc., imposed a complete nationwide lockdown due to which production and processing of rubber were also hindered during this period. However, the demand for latex rubber registered significant growth owing to the spike in demand for medical products such as surgical gloves and PPE kits.

6. Competitive Landscape The leading market players of the global rubber market are ARLANXEO, Unitex Rubber, Kumho Petrochemical Co. Ltd., Halcyon Agri, PetroChina, Ravasco, TSRC Corporation, Tong Thai Rubber Group, LG Chem, Sinopec, ZEON Corporation, Goodyear Tire, and Rubber Company, VersalisS.p.A., Nizhnekamskneftekhim, Sri Trang Agro-Industry, Indolatex Jaya Abadi, Tradewinds Plantation Berhad, Yunnan Goshen Rubber, Kuala Lumpur Kepong Berhad, Sinochem International, Guangdong Guangken Rubber, and other prominent players. Sample Copy of the Report: https://www.blueweaveconsulting.com/report/global-rubber-market/report-sample

7. Regional Insights Geographically, the global rubber market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific region dominates the global rubber market owing to the leading products in countries including Thailand, China, India, etc. The flourishing manufacturing industry and increasing construction activities in these emerging economies such as China, Japan, South Korea, etc., are also fueling the growth of the market. However, North America and Europe also cover a substantial portion of the global rubber market.

8. Recent Development In September 2021, Weir Minerals, a European premium natural rubber band, along with its partnership with Henkel, a German chemicals company, announced to have developed a mining industry-first solvent-free adhesive for rubber lining applications with zero volatile organic compounds.

9. Key Players ARLANXEO, Unitex Rubber, Kumho Petrochemical Co. Ltd., Halcyon Agri, PetroChina, Ravasco, TSRC Corporation, Tong Thai Rubber Group, LG Chem, Sinopec, ZEON Corporation, Goodyear Tire and Rubber Company, VersalisS.p.A., Nizhnekamskneftekhim, Sri Trang Agro-Industry, Indolatex Jaya Abadi, Tradewinds Plantation Berhad, Yunnan Goshen Rubber, Kuala Lumpur Kepong Berhad, Sinochem International, Guangdong Guangken Rubber, and other prominent players.

10. About Us: Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well-informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavors successful.

11. Contact Us:  +1 866 658 6826 +1 425 320 4776 +44 1865 60 0662  info(@)blueweaveconsulting.com  www.blueweaveconsulting.com