Increasing demand for tires in the automotive industry is expected to drive market expansion in the near future at a CAGR of 5.20% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Rubber Market”.

The Rubber market is estimated to register a CAGR of 5.20% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Rubber market— Arlanxeo (Saudi Arabian Oil Co.), Kumho Petrochemical Co. Ltd., LG Chem Ltd., Southland Holdings LLC, Sri Trang Agro-Industry Plc, TSRC Corporation, Unitex Rubber Co. Ltd., Vietnam Rubber Group, Von Bundit Co. Ltd.

Market Highlights

The global Rubber market is accounted to register a CAGR of 5.20% during the forecast period and is estimated to reach USD 26.98 billion by 2032.

The construction industry relies on rubber products for various applications, including seals, gaskets, and vibration control materials. As construction and infrastructure development activities continue to expand worldwide, the demand for rubber in these applications rises. Moreover, the healthcare sector is another significant driver, with the medical and pharmaceutical industries requiring rubber components for medical devices, gloves, and pharmaceutical packaging. This diversification of applications contributes to the overall growth of the rubber market, making it an integral part of various industries globally.

Segment Analysis

The global Rubber market has been segmented based on type and application.

On the basis of type, the market is segmented into Synthetic Rubber and Natural Rubber. The synthetic rubber segment was attributed to holding the largest market share in 2022, as synthetic rubber can be tailored to meet precise specifications, offering a level of customization and versatility that natural rubber cannot match.

Based on application, the global Rubber market has been segmented into Non-Tire Automotive, Footwear, Industrial Goods and Others. The tire segment was expected to hold the largest market share in 2022, due to its sheer volume and critical role within the automotive industry.

Regional Analysis

The global Rubber market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Rubber market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Rubber market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Rubber market comprises of Middle East, Africa, and Latin America.

The largest market share for Rubber was maintained by the North American regional sector. This increase is attributed to the automotive industry's insatiable demand for tires and rubber components. The continent's large and established automotive sector, coupled with consumer preferences for various types of vehicles, ensures a steady requirement for rubber-based products. Furthermore, the construction industry plays a significant role in propelling the rubber market, as the region continuously invests in infrastructure development, relying on rubber materials for various construction applications such as seals, roofing, and insulation.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for Rubber is driven by the robust automotive industry, where rubber is essential for manufacturing tires, gaskets, and various automotive components. Additionally, the region's emphasis on sustainability and environmental responsibility is fostering the development and use of eco-friendly and recycled rubber products.

Additionally, Asia Pacific is anticipated to experience the quickest growth over the forecast period due to the region's rapid industrialization, booming automotive industry, and a growing construction and infrastructure sector. As Asia Pacific nations experience urbanization and economic growth, the demand for rubber products such as tires, industrial components, and building materials has surged to support the increasing manufacturing and construction activities.

Furthermore, the rest of the world's Rubber market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the region's robust construction and infrastructure development activities. As urbanization and industrialization continue to expand across MEA, the demand for rubber products in construction materials, infrastructure components, and industrial applications such as seals and gaskets is on the rise, supporting the growth of the rubber market in the region.

Key Findings of the Study

• The global Rubber market is expected to reach USD 26.98 billion by 2032, at a CAGR of 5.20% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market due to the region's rapid industrialization, booming automotive industry, and a growing construction and infrastructure sector


• Based on application, the tire segment was attributed to holding the largest market in 2022, with an approximate market share of 45–65%.


• Arlanxeo (Saudi Arabian Oil Co.), Kumho Petrochemical Co. Ltd., LG Chem Ltd., Southland Holdings LLC, Sri Trang Agro-Industry Plc, TSRC Corporation, Unitex Rubber Co. Ltd., Vietnam Rubber Group, Von Bundit Co. Ltd.