Rubber Products Market Expected To Reach $398.29 billion in 2028

Overview and Scope
Rubber products refers to a collective term for all the goods made from a flexible material that can be vulcanized and polished into a variety of items and is made from the latex sap of trees, particularly those in the genera Hevea and Ficus. Rubber products are used to produce tires and retreading, rubber hoses and belting, rubber sealants, and all other rubber products which have domestic and industrial applications.

Sizing and Forecast
The rubber products market size has grown strongly in recent years. It will grow from $398.29 billion in 2023 to $424.55 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to automotive industry growth, industrialization and manufacturing, tire industry evolution, consumer goods manufacturing, healthcare sector growth, elasticity and versatility of rubber.

The rubber products market size is expected to see strong growth in the next few years. It will grow to $536.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to focus on sustainable and recyclable materials, smart and intelligent rubber products, infrastructure investments, renewable energy sector growth, advanced sealing solutions. Major trends in the forecast period include smart rubber technologies, customized rubber solutions, rubber recycling, 3d printing of rubber components, innovations in rubber formulations.

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Segmentation & Regional Insights
The rubber products market covered in this report is segmented –

1) By Type: Tire, Hoses And Belting, Other Rubber Product
2) By Process: Molded, Extruded, Fabricated, Latex-based, Other Processes
3) By End-User Industry: Construction & Infrastructure, Automotive, Electrical & Electronics, Other End Users

Subsegments Covered: Radial Tires, Bias Tires, Rubber Hoses, Rubber Belts

Asia-Pacific was the largest region in the rubber products market in 2023. North America was the second largest region in the rubber products market. The regions covered in the rubber products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
Technological advancement is expected to be a continued driver of market growth during this period. Industries that involve technology, such as this one, benefited from this trend during this period. For example, technologies such as Green Tires, where 20-30% of a vehicle’s fuel consumption is related to tire performance, took off during this period. Green Tires offer wet grip, durability and low rolling resistance, reducing fuel consumption by 5-7%. Thus, technological advancement which enabled improved performance, reduced fuel consumption contributed to the market growth.

Key Industry Players
Major companies operating in the rubber products market report are U.S. Rubber Supply Co., KA-Glove, Allstates Rubber & Tool Corp., Continental AG, Bridgestone Corporation, The Michelin Group, The Goodyear Tire & Rubber Company, GRT Rubber Technologies, Quick Cut Gasket & Rubber Corp., Yokohama Rubber Company Ltd., Hankook Tire & Rubber Co. Ltd., Toyota Tsusho Corp., Pirelli & C SpA, Trelleborg AB, Toyo Tire & Rubber Co. Ltd., Sri Trang Agro-Industry plc, Cooper Tire & Rubber Company, Southland Global, Myers Industries Inc., Alliance Rubber, HBD Industries Inc., Sumitomo Rubber Group, Ceyenar Chemicals, Thai Hua Rubber PCL, Goodyear Rubber Company of Southern California, Soucy Baron Inc., Redwood Plastics and Rubber, THAI RUBBER LATEX GROUP PUBLIC COMPANY LIMITED, Duratuf Products Private Limited, Von Bundit Co. Ltd., Rolex Reclaim Pvt. Ltd., AirBoss Rubber Solutions

The rubber products market report table of contents includes:

1. Executive Summary

2. Rubber Products Market Characteristics

3. Rubber Products Market Trends And Strategies

4. Rubber Products Market – Macro Economic Scenario

5. Global Rubber Products Market Size and Growth

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32. Global Rubber Products Market Competitive Benchmarking

33. Global Rubber Products Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Rubber Products Market

35. Rubber Products Market Future Outlook and Potential Analysis

36. Appendix