Rubber Products Global Market Report 2024

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 expansion observed in the historical period can be ascribed to the growth of the automotive industry, the progress of industrialization and manufacturing, the evolution of the tire industry, the manufacturing of consumer goods, the growth of the healthcare sector, and the inherent 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 anticipated growth in the forecast period can be associated with a focus on sustainable and recyclable materials, the development of smart and intelligent rubber products, investments in infrastructure, the expansion of the renewable energy sector, and advancements in sealing solutions. Major trends expected in the forecast period encompass smart rubber technologies, tailor-made rubber solutions, rubber recycling, 3D printing of rubber components, and innovations in rubber formulations.

Technological advancement is poised to continue driving market growth in this period. Industries, particularly those involving technology, have benefited from this trend. For example, technologies such as Green Tires, which have a significant impact on a vehicle’s fuel consumption (20-30%), gained traction. Green Tires offer enhanced wet grip, durability, and low rolling resistance, resulting in a 5-7% reduction in fuel consumption. Thus, technological advancements contributing to improved performance and reduced fuel consumption have played a role in market growth.

The expansion of the construction and infrastructure sectors is a key factor propelling the demand for the rubber products market in the foreseeable future. The construction and infrastructure sectors are crucial in creating and maintaining physical structures and systems that support modern society. Rubber products, including seals, gaskets, and waterproof membranes, are essential in construction for establishing watertight and airtight seals. These components play a vital role in preventing water infiltration, air leakage, and damage to buildings and structures. For instance, in September 2021, reports by Oxford Economics, a UK-based economic information services company, indicated that global construction output was $10.7 trillion in 2020. It is projected to increase by 42% (or $4.5 trillion) between 2020 and 2030, reaching USD 15.2 trillion. Therefore, the growth of the construction and infrastructure sectors is a driving force behind the rubber products market.

The outbreak of the COVID-19 Disease (COVID-19) had a substantial negative impact on the rubber products manufacturing market in 2022, disrupting supply chains due to trade restrictions and leading to a decline in consumption during government-imposed lockdowns worldwide. COVID-19, an infectious disease with symptoms such as fever, cough, and breathing difficulties, was first identified in Wuhan, China, in 2019 and spread globally. Government measures to contain the transmission halted manufacturing activities and resulted in an economic downturn, with countries entering lockdowns. The outbreak significantly affected businesses throughout 2021 and into 2022. However, it is expected that the rubber products manufacturing market will recover from this shock over the forecast period, considering it as a '‘black swan'’ event unrelated to ongoing or fundamental weaknesses in the market or the global economy.

The rubber product manufacturing industry is poised to be significantly influenced by computer simulation and 3D printing technology. A growing number of companies are embracing 3D technology for the design and development of rubber products. Software-assisted systems provide 3D representations of production line processes, highlighting potential fault lines and offering control over the manufacturing process. For instance, Stratasys is at the forefront of developing 3D printing technologies for customizable automotive tires, allowing adjustments to different levels of hardness and elongation.

Leading companies in the rubber products market are strategically focusing on the development of sustainable and environmentally friendly rubber tires to establish a robust market position. In July 2023, Schwalbe Tires, a Germany-based manufacturer of pneumatic tires for bicycles and wheelchairs, introduced Green Marathon, a tire crafted from 100% recycled black rubber. Green Marathon tires are made from 100% recycled rubber sourced from used bike, car, and truck tires. With 70% recycled and renewable materials, including recycled steel, this innovative tire significantly reduces the use of new rubber, resulting in a tire that is 98% pollutant-free. Green Marathon tires produce 34% fewer emissions than Schwalbe's previous best-seller, the Marathon tire. Schwalbe aims to further enhance emission reduction by an additional 10% in the upcoming year through refining recycling methods.


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,

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. The countries covered in the rubber products market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The primary categories of rubber products include tires, hoses and belting, and miscellaneous rubber items. Tires, also referred to as tyres, are circular components that encase the rim of a wheel, supporting a vehicle's weight from the axle to the ground while ensuring traction on the surface over which the wheel travels. These rubber products undergo diverse manufacturing processes such as molding, extrusion, fabrication, latex-based methods, and others. The utilization of rubber products spans across different sectors, including construction and infrastructure, automotive, electrical and electronics, and various other industries.

The rubber products market research report is one of a series of new reports that provides rubber products market statistics, including rubber products industry global market size, regional shares, competitors with a rubber products market share, detailed rubber products market segments, market trends and opportunities, and any further data you may need to thrive in the rubber products industry. This rubber products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rubber products market consists of sales of pacifiers, clothes, mastication, tapping, and compression. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.