Rubber Block Market: Overview
- Rubber block is produced from field latex as well as latex coagulum, which is also known as cup lump. Tree lace and unsmoked sheets are also used as raw materials in the production of rubber block.
- There are two types of rubber block: natural and synthetic. Both these types of rubber block provide flexibility, high tensile strength, and high tear resistance. Natural rubber has certain advantages over synthetic rubber, as it provides higher tensile strength, higher tear resistance, and low odor compared to synthetic rubber. Demand for both these types of rubber block is high among tire manufacturers owing to their low cost, heat resistance, and lower temperature resistance. Rubber block is used in a wide range of applications. For instance, it is used in the manufacture of gym mats, footwear, conveyor belts, large industrial rollers, tubes, bridge bearings, and automotive and bicycle tires.
- Rubber block can be used in various forms such as sheets, panel, and rolls.
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Opportunities in Global Rubber Block market
- The Rubber Board of India received a grant of US$ 3.309 Mn from the Cabinet Ministry of India to boost the production of rubber block in the country. Currently, manufacturers in India produce rubber block in small quantities, processed from field coagulum. In majority of countries in Southeast Asia, rubber block is processed either from latex or field coagulum (scrap rubber). The Government of India has launched a scheme, which includes a subsidy of Rs.10/kg for latex to small growers. This scheme is estimated to boost the production of latex coagulum (LC)-based rubber block to almost 14,000 tons in the next few years.
Key Drivers of Global Rubber Block Market
- Synthetic rubber blocks such as Styrene-butadiene (SBR), Styrene-isoprene (SIS) and Styrene–ethylene–butylene–styrene (SEBS) are used as raw materials in tire manufacturing. The global automotive industry is shifting toward electric and hybrid vehicles. Therefore, demand for electric vehicles is estimated to increase in the next 15 years. According to the Paris Agreement, almost all member countries of the UN are joining hands to reduce carbon emission and keep the increase in average global temperature to below 2°C. In line with this objective, France is expected to discontinue the sale of petrol and diesel vehicles by 2040 and shift toward electric vehicles. The Netherlands also aims to ban petrol and diesel vehicles by 2025. Majority of countries are shifting toward the production of electric vehicles. This is anticipated to boost the demand for tires in the near future. Increase in demand for tires and electric vehicles is estimated to propel the demand for synthetic rubber block.
- In automotive industry, rubber block is also used as vehicle flooring material, which is employed to protect interior of cars from any spills and stains. It also helps prevent dirt and grime.
- In industrial applications, rubber block is used in damping high frequency vibrations. It can be cut into any shape and placed under the base of machines using an adhesive to reduce sound vibrations and allow better working conditions for those working in close proximity to the machine. The usage of rubber block as sound damping material in various industrial machinery is expected to increase in Asia Pacific, led by growth in the manufacturing industry in the region.
Asia Pacific to be Key Region of Global Rubber Block Market
- In terms of region, the global rubber block market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is a highly promising end-use market. This trend is expected to continue in the near future. China, India, and Southeast Asian countries are estimated to dominate the manufacturing industry in the near future owing to their lower labor as well as raw material costs compared to that in other regions. Rise in the manufacture of rubber blocks for usage in the region and for export purposes is driving the rubber block market in Asia Pacific. Increase in population and expansion of end-use industries have led to innovation and developments in end-use industries, making these strong hubs of application industries across the globe. Furthermore, significant investment in the automotive sector in Asia Pacific is estimated to drive the rubber block market in the region during the forecast period.
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Key Manufacturers Operating in Rubber Block Market
Key manufacturers operating in the global rubber block market include:
- Exxon Mobil Corporation
- Kumho Petrochemical
- JSR Corporation
- Maxx Rubber
- Ballistic Rubber
Global Rubber Block Market: Research Scope
Global Rubber Block Market, by Type
- Natural Rubber
- Synthetic Rubber
Global Rubber Block Market, by Composition
- Styrene-butadiene (SBR)
- Styrene-isoprene (SIS)
- Styrene–ethylene–butylene–styrene (SEBS)
Global Rubber Block Market, by Application
- Energy Absorbers
- Sound Damping Materials
- Tire Manufacturing
Global Rubber Block Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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