The industrial rubber market is projected to reach US$33.82 billion by 2022

April 6, 2018

industrial-rubberThe industrial rubber market is projected to grow from US$26.99 billion in 2017 to US$33.82 billion by 2022, at a CAGR of 4.6% between 2017 and 2022.

The application segment of the industrial rubber market includes automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, coating, sealant & adhesive, and medical & healthcare. The growth of the industrial rubber market can be attributed to the robust economic outlook for the Asia Pacific, and the increased motor vehicle production and sales across the globe.

The industrial rubber market is expected to witness significant growth in a number of emerging economies, such as India, Thailand, Malaysia, and Brazil. The industrial rubber market in developed economies, such as the US and Japan, will witness market gains below the global average, owing to sluggish growth in durable goods consumption and automotive production.

One of the major restraints for the industrial rubber market growth is environmental regulations and the health hazards associated with the industrial rubber and its manufacturing. There are a number of regulations for industrial rubber manufacturing; for example, butadiene was listed as a toxic substance under the Canadian Environmental Protection Act, 1999 (CEPA 1999). Such regulations have restricted the growth of the global industrial rubber market.

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(Last Updated: 22 Jan 2019)

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