RUBBER MANUFACTURING INDUSTRY:

Rubber is dominantly used as a raw material in the automotive end-use industry for the production of a wide variety of products, such as tires, crap tubes, adhesives, hoses, pipes, gaskets, and roll coverings. The increasing demand for tire and non-tire automotive parts is expected to influence market growth. It is further used in various applications, such as footwear, industrial goods, construction, textiles, and other consumer products. The amalgamation of rubber in footwear gives protection from water, chemicals, electricity, impact, and low temperatures. It is also used in a variety of consumer products, such as protective covers, mats, and others. The rising usage in textiles and industrial goods is expected to act as a driving factor for the growth of the market. The rubber industry is one of the key sectors of the Asia-Pacific economy. The economies like China, India, and Japan are contributing significantly toward the growth of the market.

RUBBER PRODUCTS MARKET ANALYSIS:

The Rubber Products Market consists of sales of rubber products by entities (organizations, sole traders and partnerships) that produce tires and retreading, rubber hoses and belting, rubber sealants and all other rubber products which have domestic and industrial applications. The rubber products market is segmented into tires; hoses and belts and other rubber products. The global rubber products market is expected to grow at a compound annual growth rate (CAGR) of 9%. Asia Pacific was the largest region in the global rubber products market, accounting for 48% of the market in 2020.North America was the second largest region, accounting for 20% of the global rubber products market. Africa was the smallest region in the global rubber products market. 

INDIAN MARKET OUTLOOK:

India Rubber Market is expected to grow at a substantial CAGR. India is considered to be fourth largest producer of natural rubber. The rubber industry of India has been evolved considerably to tailor the increase in needs of the domestic market. Currently, the country has been changing itself into a major rubber product exporter. All these factors are expected to offer growth opportunity to the industrial rubber market. Indian rubber industry has been growing in along with the strength and importance, as a part of India’s burgeoning role in the global economy. With a stable annual growth rate of 8-9%, rising foreign exchange reserves, rapid expansion in the capital markets and FDI inflow, India proudly stakes its claim as the second fastest growing major economy in the world. Such factors combined with high concentration of automobile production and the presence of large and medium industries in South India, Production of rubber in the world was considered to be very unstable during the last few years. Comparatively, with the world India’s production of rubber is consistent at the rate of 6% per annum. The Indian rubber industry has been growing tremendously over the years.

GLOBAL MARKET OUTLOOK:

The Global Rubber Market is projected to reach a CAGR of 5.3%. Due to its superior properties like greater heat resistance, abrasion resistance, and lower aging effects, the demand for synthetic rubber is rapidly rising and driving the overall growth of the global rubber market. A large number of consumers are encouraged to adopt synthetic rubber over natural rubber due to the unstable prices of natural rubber. However, the rebound of rubber prices is expected to create a positive outlook for the natural rubber market in the future. Rubber has a high demand from the tire manufacturing companies due to its crucial properties, namely, abrasion resistance, tear resistance, and flexibility. The tire segment would ensure to hold the highest rubber market share owing to the rising production of tires in various regions. This rising production is associated with the growing demand for tires from the automotive industry. Non-tire automotive applications hold the second-largest share in terms of consumptions. These applications include the production of gaskets, floor mats, pads on pedals, crap tubes, adhesives, hoses, bushings, and others. The demand for the product in the footwear application is increasing owing to its properties, such as lightweight and also offers protection against water, chemicals, electricity,. The rubber used in footwear provides comfort, durability, and traction. These factors increase the consumption of the product in the footwear application. In industrial applications, rubber is highly used to manufacture various material handling equipment, such as elevator belts, hoses, seismic bearings, and tubes. On basis of product, the rubber market is segmented as natural, synthetic, and reclaimed rubber. Synthetic rubber is further classified into styrene butadiene (SBR), butyl (BR), nitrile (NR), ethylene propylene diene (EPDM), silicone, chloroprene polyurethane, fluorocarbon, and others such as acrylic, epichlorohydrin, polysulfide, etc.

TOP PLAYERS WORLDWIDE:

• Exxonmobil
• Apollo Tyres Ltd.
• Michelin SCA
• Hydril Pressure Control
• Goodyear Tire & Rubber Co.
• Apcotex Ind
• Mrf Ltd.
• Rubfila International Limited
• Harrisons Malayalam Ltd
• Bridgestone Corp