PUBLISHER: Roots Analysis | PRODUCT CODE: 1821518
PUBLISHER: Roots Analysis | PRODUCT CODE: 1821518
As per Roots Analysis, the global rubber market size is estimated to grow from USD 48.49 billion in the current year to USD 88.06 billion by 2035, at a CAGR of 5.57% during the forecast period, till 2035.
The opportunity for rubber market has been distributed across the following segments:
Type of Rubber
Type of Application
Type of Enterprise
Type of Grade
Type of Distribution Channel
Geographical Regions
Rubber Market: Growth and Trends
Rubber plays an essential role in the industrial sector, providing numerous benefits such as flexibility, thermal shrinkage, and durability. Moreover, rubbers offer distinct functional elasticity that includes thermal shrinkage and durability. It can primarily be divided into two types, namely, synthetic and natural rubber. It is important to note that natural rubber comes from the latex sap of the Para rubber tree, resulting in high tensile strength and good resistance to wear fatigue.
On the other hand, synthetic rubber, often referred to as manmade polymer, is created by polymerizing monomers into polymers. Rubber finds applications in a variety of industries, such as automotive, aerospace, electronics, marine, and energy sectors. Additionally, ongoing improvements in lubricants and technological advancements are leading to the development of more efficient and higher-performing rubbers. Notably, this domain is increasingly embracing sustainability, with a trend towards bio-based rubber sourced from natural materials.
This transformation has resulted in the creation of rubbers with enhanced efficiency. As a result, owing to the above-mentioned factors, the global rubber market is expected to experience significant growth during the forecast period.
Rubber Market: Key Segments
Based on type of rubber, the global rubber market is segmented into natural and synthetic. According to our estimates, currently, the asphalt shingles segment captures the majority of the market share. Moreover, this segment is anticipated to grow at a faster pace throughout the forecast period. Key factors driving this growth include high demand from the tire, automotive, and footwear sectors. Additionally, the constrained supply of natural rubber is likely to boost the synthetic rubber market.
Based on type of application, the global rubber market is segmented into large and small and medium enterprise. According to our estimates, currently, the large enterprises capture the majority of the market share. In contrast, the small and medium enterprises are projected to grow at a higher CAGR throughout the forecast period. This can be attributed to their flexibility, creativity, concentration on specialized markets, and capacity to adjust to evolving customer demands and market dynamics.
Based on type of grade, the global rubber market is segmented into commercial grade, food grade, industrial grade and medical grade. According to our estimates, currently, the medical grade segment captures the majority of the market share. This trend can be linked to the rising healthcare requirements and advancements in medical technology.
Based on type of distribution channel, the global rubber market is segmented into direct sales, distributors, online retail and specialty stores. According to our estimates, currently, the direct sales segment captures the majority of the market share. In contrast, the online retail segment is projected to grow at a higher CAGR throughout the forecast period. This can be attributed to growing inclination toward online shopping and the digital transformation of trade.
Based on geographical regions, the rubber market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia captures the majority share of the market, driven by the increased industrialization, robust automotive demand in countries such as China and India.
Rubber Market: Research Coverage
The report on the rubber market features insights on various sections, including:
Key Questions Answered in this Report
Reasons to Buy this Report
Additional Benefits