Global Industrial Rubber Products Industry

4% over the analysis period 2020 through 2027. The 2020 year is likely to witness reduced production and demand for natural rubber (NR) due to the COVID-19 pandemic. NR production during the first two quarters of 2020 recorded significant decline due to the pandemic. Geopolitical issues are further aggravating business and trade woes. Hong Kong’s national security legislation and its response to COVID-19 are already impacting NR consumption and production. Rubber consumption is being impacted in countries such as India, Thailand, Vietnam and Indonesia, which are facing travel restrictions, lockdowns and economic hurdles. Given that automotive industry is among the leading end-use markets for rubber, the closure of automotive manufacturing plants in various countries has significant implications for the rubber industry. Downstream manufacturing demand for industrial rubber products has taken a severe beating amid supply chain disruptions, plant closures & recession induced muted demand in consumer markets. In addition, the hiatus in construction projects both as a result of logistics & material disruptions and recession induced cutbacks in spending on new projects has and will continue to impact opportunities in this sector.

Rubber is an indispensable part of the contemporary world. Rubber plays a pivotal role in transportation industry and is a significant production material for sealing and packaging devices, medical supplies, as well as construction equipment. The modern-day high performance elastomers share few things in common with materials derived from natural rubber. Faster machinery, high application temperatures, stringent demands for energy and cost efficiency are forcing engineers to opt for special types of rubber.

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