The industrial rubber market is projected to grow at a CAGR of 4.6% from 2017 to 2022

The industrial rubber market is projected to grow from USD 26.99 billion in 2017 to USD 33.82 billion by 2022, at a CAGR of 4.6% between 2017 and 2022. The application segment of the industrial rubber market includes automotive, building & construction, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, bitumen modification, coating, sealant & adhesive, and medical & healthcare. The growth of the industrial rubber market can be attributed to the robust economic outlook for the Asia Pacific, and the increasing motor vehicle production and sales across the globe.

The industrial rubber market is expected to witness significant growth in a number of emerging economies, such as India, Thailand, Malaysia, and Brazil. The industrial rubber market in developed economies, such as the US and Japan will witness market gains below the global average, owing to sluggish growth in durable goods consumption and automotive production.

One of the major restraints for the industrial rubber market growth is environmental regulations and health hazards associated with the industrial rubber and its manufacturing. There are a number of regulations for the industrial rubber manufacturing; for example, butadiene was listed as a toxic substance under the Canadian Environmental Protection Act, 1999 (CEPA 1999). Such regulations have restricted the growth of the global industrial rubber market.

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