Rubber Compound Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Rubber Compound Market
The rubber compound market size was valued at USD 32.93 billion in 2022, and the market is now projected to grow from USD 34.11 billion in 2023 to USD 44.24 billion by 2030, exhibiting a CAGR of 3.8% during the forecast period of 2023-2030.
The Associate Cabinets of automotive, construction, aerospace, electronics, etc. were most affected by the COVID-19 outbreak because of the active disruption of the supply chain and temporarily shutdowns. Several large industries demonstrated reduced production rates. However, mitigating measures, operational contingency measures, and government policies cropped up and averted the situation. Therefore, it is believed that the market will begin to rise in the upcoming years gradually.
The market is expected to generate a tremendous amount of growth in the coming years of the forecast period, largely due to the increasing demand across the automotive sector. Rubber finds its application in many automotive parts such as tires, automobile seats, rubber hoses for automobiles, and gaskets. Automotive industry was identified to be the biggest consumer of rubber where approximately 75 percent of total rubber production is used in manufacturing tires.
Increase in the usage of rubber compounds in footwear is forecast to drive the growth of the market. With the concomitant increase in demand for such types of shoes, there is a similar increase in the demand for more tenacious and high-performance rubber formulations to blend for such specific forms of shoes. This trend is beneficial in terms of growing the total curve for the industry overall.
Comprehensive Analysis of Rubber Compound Market
The rubber compound market growth is rising at an exponential rate due to its market segmentation. This market expansion rightfully provides a detailed local perspective of the market operating forces such as supply and demand forces that shape the industry. These segmentations are methodically segregated by type analysis, and by application analysis. By type analysis include styrene butadiene rubber, nitrile butadiene rubber, silicone rubber, EPDM rubber, and others. By application analysis include tires, hose and belts, wire and cable insulation, footwear, and others.
The Asia Pacific region lead the rubber compound market share by benefitting a market size of USD 17.70 billion in 2022 due to growing demand for consumer goods.
The role of the top players that we can see in the field of chemicals & advanced materials is highly important for causing the industrial prospectus development and identifying the corresponding market trends. These players include Synthos S.A., Apcotex Industries Ltd., Exxon Mobil Corporation, SABIC, SIBUR, DOW Chemical Company, ENEOS Holdings, Inc., Reliance Industries Limited, Kumho Petrochemical Co., Ltd., China Petrochemical Corporation these market players provide a level-playing competitive landscape.
In December 2022, Dow launched the SILASTIC SA 994X Liquid Silicone Rubber (LSR) series for automotive applications, expanding its product portfolio in the mobility and transportation industry.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 3.8% from 2023-2030
Unit Value (USD Billion) and Volume (Kiloton)
Segmentation By Type
Styrene Butadiene Rubber
Nitrile Butadiene Rubber
Silicone Rubber
EPDM Rubber
Others
By Application
Tires
Hose and Belts
Wire and Cable Insulation
Footwear
Others
By Geography
North America (By Type, Application and Country)
U.S. (By Application)
Canada (By Application)
Europe (By Type, Application and Country)
Germany (By Application)
U.K. Italy (By Application)
France (By Application)
Italy (By Application)
Russia (By Application)
Rest of Europe (By Application)
Asia Pacific (By Type, Application and Country)
China (By Application)
India (By Application)
Japan (By Application)
South Korea (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Type, Application and Country)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Type, Application and Country)
Saudi Arabia (By Application)
South Africa (By Application)
Rest of the Middle East & Africa (By Application)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Regions
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 5. Qualitative Insights – Impact of COVID-19 on Global Rubber Compound Market
- 5.1. Supply Chain Challenges
- 5.2. Steps taken by Government/Companies to overcome this impact
- 5.3. Potential opportunities due to COVID-19 outbreak
- 6. Global Rubber Compound Market Analysis, Insights and Forecast, 2019-2030
- 6.1. Key Findings / Summary
- 6.2. By Type (Value and Volume)
- 6.2.1. Styrene Butadiene Rubber
- 6.2.2. Nitrile Butadiene Rubber
- 6.2.3. Silicone Rubber
- 6.2.4. EPDM Rubber
- 6.2.5. Others
- 6.3. By Application (Value and Volume)
- 6.3.1. Tires
- 6.3.2. Hose and Belts
- 6.3.3. Wire and Cable Insulation
- 6.3.4. Footwear
- 6.3.5. Others
- 6.4. By Region (Value and Volume)
- 6.4.1. North America
- 6.4.2. Europe
- 6.4.3. Asia Pacific
- 6.4.4. Latin America
- 6.4.5. Middle East & Africa
- 7. North America Rubber Compound Market Analysis, Insights and Forecast, 2019-2030
- 7.1. Key Findings / Summary
- 7.2. By Type (Value and Volume)
- 7.2.1. Styrene Butadiene Rubber
- 7.2.2. Nitrile Butadiene Rubber
- 7.2.3. Silicone Rubber
- 7.2.4. EPDM Rubber
- 7.2.5. Others
- 7.3. By Application (Value and Volume)
- 7.3.1. Tires
- 7.3.2. Hose and Belts
- 7.3.3. Wire and Cable Insulation
- 7.3.4. Footwear
- 7.3.5. Others
- 7.4. By Country (Value and Volume)
- 7.4.1. U.S.
- 7.4.1.1. By Application (Value and Volume)
- 7.4.1.1.1. Tires
- 7.4.1.1.2. Hose and Belts
- 7.4.1.1.3. Wire and Cable Insulation
- 7.4.1.1.4. Footwear
- 7.4.1.1.5. Others
- 7.4.2. Canada
- 7.4.2.1. By Application (Value and Volume)
- 7.4.2.1.1. Tires
- 7.4.2.1.2. Hose and Belts
- 7.4.2.1.3. Wire and Cable Insulation
- 7.4.2.1.4. Footwear
- 7.4.2.1.5. Others
- 8. Europe Rubber Compound Market Analysis, Insights and Forecast, 2019-2030
- 8.1. Key Findings / Summary
- 8.2. By Type (Value and Volume)
- 8.2.1. Styrene Butadiene Rubber
- 8.2.2. Nitrile Butadiene Rubber
- 8.2.3. Silicone Rubber
- 8.2.4. EPDM Rubber
- 8.2.5. Others
- 8.3. By Application (Value and Volume)
- 8.3.1. Tires
- 8.3.2. Hose and Belts
- 8.3.3. Wire and Cable Insulation
- 8.3.4. Footwear
- 8.3.5. Others
- 8.4. By Country (Value and Volume)
- 8.4.1. Germany
- 8.4.1.1. By Application (Value and Volume)
- 8.4.1.1.1. Tires
- 8.4.1.1.2. Hose and Belts
- 8.4.1.1.3. Wire and Cable Insulation
- 8.4.1.1.4. Footwear
- 8.4.1.1.5. Others
- 8.4.2. U.K.
- 8.4.2.1. By Application (Value and Volume)
- 8.4.2.1.1. Tires
- 8.4.2.1.2. Hose and Belts
- 8.4.2.1.3. Wire and Cable Insulation
- 8.4.2.1.4. Footwear
- 8.4.2.1.5. Others
- 8.4.3. France
- 8.4.3.1. By Application (Value and Volume)
- 8.4.3.1.1. Tires
- 8.4.3.1.2. Hose and Belts
- 8.4.3.1.3. Wire and Cable Insulation
- 8.4.3.1.4. Footwear
- 8.4.3.1.5. Others
- 8.4.4. Italy
- 8.4.4.1. By Application (Value and Volume)
- 8.4.4.1.1. Tires
- 8.4.4.1.2. Hose and Belts
- 8.4.4.1.3. Wire and Cable Insulation
- 8.4.4.1.4. Footwear
- 8.4.4.1.5. Others
- 8.4.5. Spain
- 8.4.5.1. By Application (Value and Volume)
- 8.4.5.1.1. Tires
- 8.4.5.1.2. Hose and Belts
- 8.4.5.1.3. Wire and Cable Insulation
- 8.4.5.1.4. Footwear
- 8.4.5.1.5. Others
- 8.4.6. Rest of Europe
- 8.4.6.1. By Application (Value and Volume)
- 8.4.6.1.1. Tires
- 8.4.6.1.2. Hose and Belts
- 8.4.6.1.3. Wire and Cable Insulation
- 8.4.6.1.4. Footwear
- 8.4.6.1.5. Others
- 9. Asia-Pacific Rubber Compound Market Analysis, Insights and Forecast, 2019-2030
- 9.1. Key Findings / Summary
- 9.2. By Type (Value and Volume)
- 9.2.1. Styrene Butadiene Rubber
- 9.2.2. Nitrile Butadiene Rubber
- 9.2.3. Silicone Rubber
- 9.2.4. EPDM Rubber
- 9.2.5. Others
- 9.3. By Application (Value and Volume)
- 9.3.1. Tires
- 9.3.2. Hose and Belts
- 9.3.3. Wire and Cable Insulation
- 9.3.4. Footwear
- 9.3.5. Others
- 9.4. By Country (Value and Volume)
- 9.4.1. China
- 9.4.1.1. By Application (Value and Volume)
- 9.4.1.1.1. Tires
- 9.4.1.1.2. Hose and Belts
- 9.4.1.1.3. Wire and Cable Insulation
- 9.4.1.1.4. Footwear
- 9.4.1.1.5. Others
- 9.4.2. India
- 9.4.2.1. By Application (Value and Volume)
- 9.4.2.1.1. Tires
- 9.4.2.1.2. Hose and Belts
- 9.4.2.1.3. Wire and Cable Insulation
- 9.4.2.1.4. Footwear
- 9.4.2.1.5. Others
- 9.4.3. Japan
- 9.4.3.1. By Application (Value and Volume)
- 9.4.3.1.1. Tires
- 9.4.3.1.2. Hose and Belts
- 9.4.3.1.3. Wire and Cable Insulation
- 9.4.3.1.4. Footwear
- 9.4.3.1.5. Others
- 9.4.4. South Korea
- 9.4.4.1. By Application (Value and Volume)
- 9.4.4.1.1. Tires
- 9.4.4.1.2. Hose and Belts
- 9.4.4.1.3. Wire and Cable Insulation
- 9.4.4.1.4. Footwear
- 9.4.4.1.5. Others
- 9.4.5. Southeast Asia
- 9.4.5.1. By Application (Value and Volume)
- 9.4.5.1.1. Tires
- 9.4.5.1.2. Hose and Belts
- 9.4.5.1.3. Wire and Cable Insulation
- 9.4.5.1.4. Footwear
- 9.4.5.1.5. Others
- 9.4.6. Rest of Asia Pacific
- 9.4.6.1. By Application (Value and Volume)
- 9.4.6.1.1. Tires
- 9.4.6.1.2. Hose and Belts
- 9.4.6.1.3. Wire and Cable Insulation
- 9.4.6.1.4. Footwear
- 9.4.6.1.5. Others
- 10. Latin America Rubber Compound Market Analysis, Insights and Forecast, 2019-2030
- 10.1. Key Findings / Summary
- 10.2. By Type (Value and Volume)
- 10.2.1. Styrene Butadiene Rubber
- 10.2.2. Nitrile Butadiene Rubber
- 10.2.3. Silicone Rubber
- 10.2.4. EPDM Rubber
- 10.2.5. Others
- 10.3. By Application (Value and Volume)
- 10.3.1. Tires
- 10.3.2. Hose and Belts
- 10.3.3. Wire and Cable Insulation
- 10.3.4. Footwear
- 10.3.5. Others
- 10.4. By Country (Value and Volume)
- 10.4.1. Brazil
- 10.4.1.1. By Application (Value and Volume)
- 10.4.1.1.1. Tires
- 10.4.1.1.2. Hose and Belts
- 10.4.1.1.3. Wire and Cable Insulation
- 10.4.1.1.4. Footwear
- 10.4.1.1.5. Others
- 10.4.2. Mexico
- 10.4.2.1. By Application (Value and Volume)
- 10.4.2.1.1. Tires
- 10.4.2.1.2. Hose and Belts
- 10.4.2.1.3. Wire and Cable Insulation
- 10.4.2.1.4. Footwear
- 10.4.2.1.5. Others
- 10.4.3. Rest of Latin America
- 10.4.3.1. By Application (Value and Volume)
- 10.4.3.1.1. Tires
- 10.4.3.1.2. Hose and Belts
- 10.4.3.1.3. Wire and Cable Insulation
- 10.4.3.1.4. Footwear
- 10.4.3.1.5. Others
- 11. Middle East & Africa Rubber Compound Market Analysis, Insights and Forecast, 2019-2030
- 11.1. Key Findings / Summary
- 11.2. By Type (Value and Volume)
- 11.2.1. Styrene Butadiene Rubber
- 11.2.2. Nitrile Butadiene Rubber
- 11.2.3. Silicone Rubber
- 11.2.4. EPDM Rubber
- 11.2.5. Others
- 11.3. By Application (Value and Volume)
- 11.3.1. Tires
- 11.3.2. Hose and Belts
- 11.3.3. Wire and Cable Insulation
- 11.3.4. Footwear
- 11.3.5. Others
- 11.4. By Country (Value and Volume)
- 11.4.1. GCC
- 11.4.1.1. By Applucation (Value and Volume)
- 11.4.1.1.1. Tires
- 11.4.1.1.2. Hose and Belts
- 11.4.1.1.3. Wire and Cable Insulation
- 11.4.1.1.4. Footwear
- 11.4.1.1.5. Others
- 11.4.2. South Africa
- 11.4.2.1. By Application (Value and Volume)
- 11.4.2.1.1. Tires
- 11.4.2.1.2. Hose and Belts
- 11.4.2.1.3. Wire and Cable Insulation
- 11.4.2.1.4. Footwear
- 11.4.2.1.5. Others
- 11.4.3. Rest of Middle East & Africa
- 11.4.3.1. By Application (Value and Volume)
- 11.4.3.1.1. Tires
- 11.4.3.1.2. Hose and Belts
- 11.4.3.1.3. Wire and Cable Insulation
- 11.4.3.1.4. Footwear
- 11.4.3.1.5. Others
- 12. Competitive Landscapes
- 12.1. Company Market Share/Market Ranking Analysis, By Key Players
- 12.2. Company Profiles
- 12.2.1. Apcotex Industries Ltd
- 12.2.1.1. Overview
- 12.2.1.2. Description
- 12.2.1.3. Product Portfolio
- 12.2.1.4. Financials (Data as available in public domain and/or on paid databases)
- 12.2.1.5. Recent Developments
- 12.3. China Petroleum & Chemical Corporation
- 12.3.1. Overview
- 12.3.2. Description
- 12.3.3. Product Portfolio
- 12.3.4. Financials (Data as available in public domain and/or on paid databases)
- 12.3.5. Recent Developments
- 12.4. Kumho Petrochemical Co., Ltd. (KKPC)
- 12.4.1. Overview
- 12.4.2. Description
- 12.4.3. Product Portfolio
- 12.4.4. Financials (Data as available in public domain and/or on paid databases)
- 12.4.5. Recent Developments
- 12.5. KUMHO PETROCHEMICAL
- 12.5.1. Overview
- 12.5.2. Description
- 12.5.3. Product Portfolio
- 12.5.4. Financials (Data as available in public domain and/or on paid databases)
- 12.5.5. Recent Developments
- 12.6. Reliance Industries Limited
- 12.6.1. Overview
- 12.6.2. Description
- 12.6.3. Product Portfolio
- 12.6.4. Financials (Data as available in public domain and/or on paid databases)
- 12.6.5. Recent Developments
- 12.7. SABIC
- 12.7.1. Overview
- 12.7.2. Description
- 12.7.3. Product Portfolio
- 12.7.4. Financials (Data as available in public domain and/or on paid databases)
- 12.7.5. Recent Developments
- 12.8. SIBUR
- 12.8.1. Overview
- 12.8.2. Description
- 12.8.3. Product Portfolio
- 12.8.4. Financials (Data as available in public domain and/or on paid databases)
- 12.8.5. Recent Developments
- 12.9. Synthos S.A.
- 12.9.1. Overview
- 12.9.2. Description
- 12.9.3. Product Portfolio
- 12.9.4. Financials (Data as available in public domain and/or on paid databases)
- 12.9.5. Recent Developments
- 12.10. Dow Chemical Company
- 12.10.1. Overview
- 12.10.2. Description
- 12.10.3. Product Portfolio
- 12.10.4. Financials (Data as available in public domain and/or on paid databases)
- 12.10.5. Recent Developments
- 12.11. ENEOS Holdings, Inc.
- 12.11.1. Overview
- 12.11.2. Description
- 12.11.3. Product Portfolio
- 12.11.4. Financials (Data as available in public domain and/or on paid databases)
- 12.11.5. Recent Developments
- 13. Strategic Recommendations
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