Market Reports

The market is expected to experience significant growth, primarily influenced by the increasing prices of new tires, particularly for sports utility vehicles. This trend can be attributed to the rise in natural rubber costs and the volatility of crude oil prices. Additionally, the expanding number of commercial vehicles in operation worldwide is projected to be a major driving force for market growth

According to a research report from MarketsandMarkets, the advanced tires market size is estimated to grow from USD 1.3 billion in 2023 to reach USD 3.2 billion by 2030 at a CAGR of 14.4% over the forecast period.

Malaysia holds the credit for being the biggest maker of rubber gloves, thereby manufacturing volumes of more than 200 Bn every single year. The country is also known for exporting ~182 Bn gloves in the year 2019, with MARGMA (Malaysian Rubber Glove Manufacturers Association) estimating this figure to reach 240 Bn pieces in the year 2020. The figure never came down after that due to the reasons mentioned above.

By 2028, the global industrial hose assemblies market is expected to be worth US$ 19,973.7 million and US$ 37,556.7 million, expanding at a 6.5% CAGR according to Future Marke Insights. China is anticipated to dominate the global industrial hose assemblies market for the duration of the forecast period. Participants in the Chinese market benefit from economies of scale and lower steel and synthetic polymer manufacturing costs.

Connected Tires Market size is projected to grow from USD 4 million in 2023 to USD 54 million by 2028, at a CAGR of 67.1%, according to a new report by MarketsandMarkets™. Growing demand for road safety, increased vehicle features are driving the demand for connected tires. With features like tire pressure monitoring, tread wear analysis, and temperature sensing, connected tires offer enhanced safety on the road. Drivers and fleet managers can receive timely alerts and notifications about tire issues, enabling them to take immediate action and prevent accidents. Additionally, connected tires can contribute to vehicle security by providing valuable data for tracking and recovering stolen vehicles.

BlueWeave Consulting in its recent study, estimated the global nitrile butadiene rubber (NBR) latex market size at USD 2.9 billion in 2022. During the forecast period between 2023 and 2029, the global nitrile butadiene rubber (NBR) latex market size is projected to grow at a CAGR of 6.12% reaching a value of USD 4.14 billion by 2029. The robust automotive industry and the expanding usage of NBR products including seals & O-rings, hoses, belts, molded products, cables, and others are major growth factors for the global nitrile butadiene rubber (NBR) latex market. The expansion of the automotive industry is forecast to continue in the coming years by the trend toward electric vehicles and the development of autonomous vehicles, which would consequently boost demand for NBR latex products.

The global conductive silicone rubber market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023 – 2035. The global conductive silicone rubber market size is expected to reach ~USD 30 Billion by the end of 2035.

The global automotive silicone market size is projected to reach USD 3.1 billion by 2027 growing at a CAGR of 7.1% from 2022 to 2027, as per the recent study by MarketsandMarkets™. Rising demand from emerging markets and growth of transportation industry globally are driving the market for automotive silicone.