Global flexible rubber sheets market forecast at $25.3 billion by 2030

Pune, India – The global flexible rubber sheets market is expected to grow from $17.8 billion in 2022 to $25.3 billion by 2030, at a CAGR of 4.5% during the projection period 2023-2030.

The report from GreyViews provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, application and region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.

The significant players operating in the global flexible rubber sheets market are West American Rubber Company, LLC, ZENITH RUBBER, TOGAWA RUBBER CO., LTD., Hanna Rubber Company, Aero Rubber Company, Inc., ContiTech AG, BRP Manufacturing, SANHE GREAT WALL RUBBER CO., LTD, F.B. Wright, Semperform, Rubberteck International Inc., Kiran Rubber Industries., American Biltrite, Nanjing Parkinson Rubber Products Co., Ltd, Vertex Rubber among others. To achieve a substantial market share in the worldwide flexible rubber sheets market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.

The production of flexible rubber sheets involves processing a variety of base materials, including recycled rubber, reclaimed rubber, natural rubber, and synthetic rubber. Among the notable properties of rubber sheets are high wear resistance, high substance resistance, higher sturdiness, scraped spot resistance, high flexibility, high and low temperature resistance, which makes them an ideal material to be used in various end-user industries. In addition to HVAC systems, plumbing pipes, refrigeration systems, automotive parts, oil & gas pipelines, and more, this product is used in a number of other applications as well. Its flexibility makes it a great choice for these applications because it does not crack or break under pressure like other materials.

The base material segment is a synthetic rubber, recycled rubber, natural rubber, and reclaimed rubber. The synthetic rubber segment is expected to witness the highest growth rate during the forecast period. A variety of raw resources are used to produce synthetic rubber in an industrial setting. Synthetic rubber is an artificial polymer created using petroleum as a base. It comes as square blocks and compressed bales. In addition to its natural rubber-like properties, it can be enhanced if necessary (such as thermal stability and oil resistance).

The automotive segment is expected to be the fastest-growing segment in 2022.

The end-user segment is the construction industry, chemicals industry, military & defense, automotive industry, aerospace industry, marine industry, and mining industry. The automotive industry segment is expected to witness the highest growth rate during the forecast period. The flexible rubber sheets are durable, possess good mechanical strength due to which they are widely used in the automotive sector.

The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analysed for the flexible rubber sheets include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.

The North America region witnessed a major share. Due to the expansion of the aerospace and automotive industries in the North American region, which demand high-quality materials, the flexible rubber sheets market will experience robust growth over the forecast period.

Germany’s flexible rubber sheets market size was valued at USD 0.062 billion in 2022 and is expected to reach USD 0.072 billion by 2030, at a CAGR of 2% from 2023 to 2030.
Developments in the marine and automotive sector in the country will boost the market growth.

China’s flexible rubber sheets market size was valued at USD 0.136 billion in 2022 and is expected to reach USD 0.186 billion by 2030, at a CAGR of 4% from 2023 to 2030. Taking advantage of the extensive use of rubber sheets in the automobile industry, OICA estimates that China produced about 25.75 million vehicles in 2019 and 25.23 million in 2020, a decline of just over 2%.

India’s flexible rubber sheets market size was valued at USD 0.102 billion in 2022 and is expected to reach USD 0.129 billion by 2030, at a CAGR of 3% from 2023 to 2030. It is expected that the growing automotive and construction industries will increase the demand for corrosion-resistant and sealing materials in the country, driving the demand for flexible rubber sheets.

The sheets are used in many different industries, including chemical, marine, automotive, military, aerospace etc. Additionally, these sheets do not resist hydrocarbons, oils and fats, nor do they possess good weather characteristics. Moreover, rubber production causes many environmental issues, which are hampering the growth of the market. The market growth is mainly driven by the presence of major key players and huge investment in the research and development segment. But, there are some factors which are hampering the market growth such as rising environmental issues and limited strength of the product.