According to Zion Market Research, the global rubber compound market size is projected to reach USD 15.69 billion by 2030 from its value of USD 8.90 billion in 2022, at a CAGR of 7.34% during the forecast period.
NEW YORK, USA, Oct. 03, 2023 (GLOBE NEWSWIRE) — Zion Market Research has published a new research report titled “Rubber Compound Market By End-User (Building & Construction, Automotive & Transportation, Industrial Machinery Equipment, And Others), By Processing Method (Compression Molding, Injection Molding, And Other Methods), By Product Type (Synthetic Rubber And Natural Rubber), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the global rubber compound market size was valued at about USD 8.90 billion in 2022. The market is expected to grow at a CAGR of 7.34% and is anticipated to reach a value of USD 15.69 billion by 2030.”
Rubber Compound Market Overview:
The rubber compound industry is the market segment within the broader chemicals and materials industry that is concerned with the production, distribution, and consumption of rubber compounds. They are produced by combining natural rubber with other chemical substances that improve the rubber’s overall properties and performance. For instance, sulfur is applied during the vulcanization process to aid in the formation of hardened crosslinks. Sulfur facilitates the improvement of rubber’s elasticity.
Rubber does not have specific applications in the commercial sector due to its lack of elasticity and other limitations imposed by its mechanical properties. However, the process of rubber compounding can enhance its overall properties, including elasticity. Compounding rubber is a complicated process that must always be conducted under the guidance and supervision of technical experts to prevent loss of personnel and other resources. The rubber compound industry is anticipated to expand at a rapid rate due to the expansion of research and development.
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 8.90 Billion |
| Market Forecast in 2030 | USD 15.69 Billion |
| Growth Rate | CAGR of 7.34% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Zeon Corporation, Huntsman Corporation, Kraiburg TPE, LANXESS AG, Sumitomo Chemical, Polyone Corporation, Kumho Petrochemical, Dynasol Group, Sibur, Kuraray Co. Ltd., Arlanxeo, Elastomeric Specialties Inc. (ESI), Trinseo, Shin-Etsu Polymer, Parker Hannifin Corporation., and others. |
| Segments Covered | By End-User, By Processing Method, By Product Type, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
Key Insights from Primary Research
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Rubber Compound Market: Growth Drivers
The global rubber compound market is anticipated to expand due to the expanding use of compounded rubber in the automotive industry, which is one of the fastest-growing commercial sectors. The rising disposable income of the general population and the rising number of automotive vehicle manufacturers catering to a diverse audience by releasing both affordable and prestige vehicles are two of the primary reasons for the industry’s accelerating growth rate.
In addition, as a result of the rising number of road accidents, regional governments have enacted new safety regulations for automobile manufacturers, resulting in increased demand for enhanced rubber compounds to prevent vehicle skidding.
Rubber Compound Market: Restraints
The development of the global rubber compound market is likely to be hampered by the negative environmental impact of rubber compounding. The process is extremely resource-intensive, particularly in terms of energy usage. There is an increasing demand on fuel suppliers to satisfy the basic needs of the general population, and players may experience a lack of energy for rubber compounding procedures. Other environmental factors, such as excessive waste generation and the use of harsh chemicals in the production process, could function as growth barriers.
Rubber Compound Market: Segmentation
The global rubber compound industry market is segmented based on end-user, processing method, product type, and region.
Based on end-user, the global market segments are building & construction, automotive & transportation, industrial machinery equipment, and others. In 2022, the highest growth was witnessed in the automotive & transportation segment driven by higher production and sale of automotive vehicles that are a part of personal consumption and for public transport.
Based on processing, the rubber compound industry is divided into compression molding, injection molding, and other methods.
Based on product type, the global market is segmented into synthetic rubber and natural rubber. The revenue was higher in the synthetic rubber segment as the demand for chemically produced rubber is higher in end-user verticals. Natural rubber production is limited and the supply chain is typically volatile depending on trading relationships, especially in international collaborations.
Browse the full “Rubber Compound Market By End-User (Building & Construction, Automotive & Transportation, Industrial Machinery Equipment, And Others), By Processing Method (Compression Molding, Injection Molding, And Other Methods), By Product Type (Synthetic Rubber And Natural Rubber), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/rubber-compound-market
Regional Analysis:
Asia-Pacific will dominate the global rubber compound market during the forecast period. Several factors work in favor of the region’s global dominance. For example, Thailand is the world’s largest producer of natural rubber. Indonesia and China are the second and third foremost nations, respectively. In 2022, approximately 3 million metric tons of natural rubber were produced in Indonesia. In addition to having an abundance of natural rubber, Asia is also home to many of the world’s largest rubber compounding companies. China’s production line is extensive, and regional market participants are consistently investing more resources in production expansion.
On the other hand, Asian companies also dominate the automotive industry. China and Japan are the world’s leading automobile manufacturers. These nations have both international and domestic demand for fuel-efficient automobiles and other vehicles. Investments are increasing in India’s regional automotive industry. According to official reports, the country plans to increase its automotive industry to INR 15 lakh crore by 2024.
Competitive Players:
The report contains qualitative and quantitative research on the global Rubber Compound market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Rubber Compound market include;
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The global Rubber Compound market is segmented as follows:
By End-User
By Processing Method
By Product Type
By Region
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