Increasing demand for rubber in automotive & transportation industry is expected to drive the growth of MEA rubber market
According to TechSci Research report, “MEA Rubber Market By Type (Natural Rubber v/s Synthetic Rubber), By Molecule (Styrene Butadiene, Polybutadiene, Butyl, Ethylene Propylene, Nitrile Elastomers, Natural Rubber, Poly cis isoprene), By Application (Tire, Medical, Industrial Hose, Footwear, Conveyor Belts, Others), By Country, Forecast & Opportunities, 2025”, the MEA rubber market is expected to grow at a steady rate during the forecast period on account of the growing use of rubber and rubber products across various end user industries such as automotive & transportation, building & construction, healthcare, chemical, packaging, textile, among others. Furthermore, technological advancements and new product launches by the major players operating in the market is expected to create lucrative opportunities for the market growth through 2025. However, fluctuating prices of raw material might hamper the market growth until 2025. Additionally, environmental and health concerns due to the release of harmful chemicals such as toluene, styrene, hexane, among others might further restrict the market growth over the next few years.
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The MEA rubber market is segmented based on type, molecule, application, company and country. Based on type, the market can be split into natural rubber and synthetic rubber. Among these, the synthetic rubber segment is expected to dominate the market on account of its properties such as superior heat resistance, abrasion, versatility, flexibility, stability, among others. As a result of all these properties rubber finds application across a wide range of industries. On the other hand, the natural rubber segment is expected to witness significant growth in the market on account of its use in balloons, adhesives, elastic threads, among others. Based on application, the market can be categorized into tire, medical, industrial hose, footwear, conveyor belts and others. Out of these, the footwear segment is expected to witness the highest growth in the market through 2025. This can be attributed to the use of rubber in footwears for providing protection against low temperature, chemicals, water, among others. However, the medical segment is expected to hold a significant market share on account of the growing use of rubber in catheters, stethoscopes, gloves, medical equipment, among others.
ExxonMobil Chemical Middle East & Africa, Trinseo S.A. (Middle East), CNPC Dubai, Sibur Middle East, Lanxess Middle East GmbH, Supreme Rubber LLC, Reliance Industries (Middle East) DMCC, PERFECT RUBBER INDUSTRIES LLC, Middle East Rubber Manufacturing LLC (MER), Enghuat Industries Limited and others are some of the leading players operating in MEA rubber market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“MEA rubber market is expected to witness steady growth during the forecast period. This can be ascribed to the fact that natural rubber is majorly being imported in the region. Besides, growing demand for rubber and rubber products coupled with flourishing automotive industry is further expected to fuel the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“MEA Rubber Market By Type (Natural Rubber v/s Synthetic Rubber), By Molecule (Styrene Butadiene, Polybutadiene, Butyl, Ethylene Propylene, Nitrile Elastomers, Natural Rubber, Poly cis isoprene), By Application (Tire, Medical, Industrial Hose, Footwear, Conveyor Belts, Others), By Country, Forecast & Opportunities, 2025”, has evaluated the future growth potential of MEA rubber market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in MEA rubber market.