Thermoset Rubber Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Natural Rubber, Synthetic Rubber), By End User (Automotive, Consumer Goods, Medical, Others), By Region and Competition, 2020-2030F
Global Thermoset Rubber market was valued at USD 36.37 Billion in 2024 and is expected to reach USD 49.13 Billion by 2030 with a CAGR of 5.10%. The global thermoset rubber market is currently experiencing a significant surge in demand, driven by various end-use industries seeking its versatile properties. One of the key drivers for this market is the automotive industry, which extensively utilizes thermoset rubber due to its exceptional durability, heat resistance, and outstanding sealing properties. With the increasing production of vehicles worldwide and the implementation of stringent emission norms, the demand for this material has witnessed a remarkable upturn.
Market Overview
Forecast Period
2026-2030
Market Size 2024
USD 36.37 Billion
Market Size 2030
USD 49.13 Billion
CAGR 2025-2030
5.10%
Fastest Growing Segment
Automotive
Largest Market
Asia-Pacific
Technological advancements have played a pivotal role in the industry, resulting in the development of new, high-performance grades of rubber. These innovations have not only expanded the application possibilities of thermoset rubber in the automotive sector but have also contributed to its growing demand.
Key Market Drivers
Growing Demand of Thermoset Rubber in Automotive Industry
Thermoset rubber, known for its exceptional durability, heat resistance, and outstanding sealing properties, has established itself as a fundamental material in the automotive industry. Due to its remarkable characteristics, it finds extensive usage in a wide range of automobile components, including tires, hoses, belts, gaskets, and seals. Its superior properties make it an excellent choice for applications that demand resistance to extreme temperatures, oils, and chemicals.
The global automotive production has been witnessing a steady rise, with the Asia-Pacific region leading the way. This substantial increase in vehicle production directly contributes to the growing demand for thermoset rubber, considering its widespread use in numerous automotive applications. In 2024, the Asia-Pacific region recorded the production of over 27.5 million passenger vehicles, reinforcing its position as a global automotive manufacturing hub. China dominated regional output and demand, with over 27.5 million passenger cars sold cementing its status as the largest automotive market in Asia-Pacific. India also demonstrated strong market performance, contributing significantly with sales of 4.27 million passenger vehicles, reflecting growing consumer demand and an expanding middle class.
Recent advancements in thermoset rubber technology have propelled the development of new, high-performance grades of rubber. These significant breakthroughs have expanded the potential applications of thermoset rubber in the automotive industry, further stimulating the demand for this versatile material.
With governments worldwide implementing stricter emission regulations, there is an escalating need for vehicles that are more fuel-efficient. Thermoset rubber plays a pivotal role in this context, as it helps reduce vehicle weight, consequently enhancing fuel efficiency and reducing emissions.
The surging demand for thermoset rubber in the automotive industry serves as a significant driver for the global thermoset rubber market. As vehicle production continues to soar and emission norms become increasingly stringent, the demand for thermoset rubber is expected to witness further growth, thereby driving the overall expansion of the thermoset rubber market.
Key Market Challenges
Volatility in Prices of Raw Materials
Thermoset rubber, a material primarily derived from petrochemicals, is susceptible to price volatility due to the fluctuating costs of raw materials. These price fluctuations are influenced by a range of factors, including geopolitical developments, changes in supply-demand dynamics, and fluctuations in oil prices, which directly impact the production costs of thermoset rubber.
The increasing costs of raw materials pose a challenge for manufacturers as they squeeze profit margins. To offset these rising production costs, manufacturers often pass on the costs to the end consumers, resulting in higher product prices.
The uncertainty created by price volatility in the thermoset rubber market makes it difficult for companies to plan and forecast accurately. This uncertainty can hinder investment in research and development, impeding innovation within the industry.
Companies heavily reliant on these volatile raw materials may face a competitive disadvantage when compared to companies that utilize alternative materials with lower price volatility.
Key Market Trends
Rise in Sustainability and Environmental Concerns
In recent years, sustainability and environmental concerns have emerged as significant trends influencing various industries, including the global thermoset rubber market. This trend is driven by a growing awareness of environmental issues and the increasing prominence of eco-friendly consumer behavior.
As the world grapples with challenges such as global warming, biodiversity loss, and waste production, the thermoset rubber market has witnessed a notable shift towards sustainable practices. Manufacturers are now focusing on developing environmentally friendly thermoset rubber products to address these concerns.
Furthermore, consumers are becoming increasingly conscious of their carbon footprint and are making deliberate choices to support sustainable products. This heightened environmental awareness is driving the demand for sustainable thermoset rubber products, pushing the market further towards sustainability.
Key Market Players
Dow Chemical Company
Reliance Industries Limited
3M Company
LANXESS AG
TSRC Corporation
Exxon Mobil Corporation
Sumitomo Chemical Co. Ltd.
Evonik Corporation
Huntsman International LLC
Bayer AG
Report Scope:
In this report, the Global Thermoset Rubber Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Thermoset Rubber Market, By Type:
Natural Rubber
Synthetic Rubber
Thermoset Rubber Market, By End User:
Automotive
Consumer Goods
Medical
Others
Thermoset Rubber Market, By Region:
North America
United States
Canada
Mexico
Europe
France
United Kingdom
Italy
Germany
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
South America
Brazil
Argentina
Colombia
Middle East & Africa
South Africa
Saudi Arabia
UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Thermoset Rubber Market.
Available Customizations:
Global Thermoset Rubber Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
Detailed analysis and profiling of additional market players (up to five).
Table of Contents
1. Product Overview
1.1. Market Definition
1.2. Scope of the Market
1.2.1. Markets Covered
1.2.2. Years Considered for Study
1.2.3. Key Market Segmentations
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends
4. Voice of Customer
5. Thermoset Rubber Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Type (Natural Rubber, Synthetic Rubber)
5.2.2. By End User (Automotive, Consumer Goods, Medical, Others)
5.2.3. By Region
5.2.4. By Company (2024)
5.3. Market Map
6. North America Thermoset Rubber Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Type
6.2.2. By End User
6.2.3. By Country
6.3. North America: Country Analysis
6.3.1. United States Thermoset Rubber Market Outlook
6.3.1.1. Market Size & Forecast
6.3.1.1.1. By Value
6.3.1.2. Market Share & Forecast
6.3.1.2.1. By Type
6.3.1.2.2. By End User
6.3.2. Canada Thermoset Rubber Market Outlook
6.3.2.1. Market Size & Forecast
6.3.2.1.1. By Value
6.3.2.2. Market Share & Forecast
6.3.2.2.1. By Type
6.3.2.2.2. By End User
6.3.3. Mexico Thermoset Rubber Market Outlook
6.3.3.1. Market Size & Forecast
6.3.3.1.1. By Value
6.3.3.2. Market Share & Forecast
6.3.3.2.1. By Type
6.3.3.2.2. By End User
7. Europe Thermoset Rubber Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type
7.2.2. By End User
7.2.3. By Country
7.3. Europe: Country Analysis
7.3.1. Germany Thermoset Rubber Market Outlook
7.3.1.1. Market Size & Forecast
7.3.1.1.1. By Value
7.3.1.2. Market Share & Forecast
7.3.1.2.1. By Type
7.3.1.2.2. By End User
7.3.2. United Kingdom Thermoset Rubber Market Outlook
7.3.2.1. Market Size & Forecast
7.3.2.1.1. By Value
7.3.2.2. Market Share & Forecast
7.3.2.2.1. By Type
7.3.2.2.2. By End User
7.3.3. Italy Thermoset Rubber Market Outlook
7.3.3.1. Market Size & Forecast
7.3.3.1.1. By Value
7.3.3.2. Market Share & Forecast
7.3.3.2.1. By Type
7.3.3.2.2. By End User
7.3.4. France Thermoset Rubber Market Outlook
7.3.4.1. Market Size & Forecast
7.3.4.1.1. By Value
7.3.4.2. Market Share & Forecast
7.3.4.2.1. By Type
7.3.4.2.2. By End User
7.3.5. Spain Thermoset Rubber Market Outlook
7.3.5.1. Market Size & Forecast
7.3.5.1.1. By Value
7.3.5.2. Market Share & Forecast
7.3.5.2.1. By Type
7.3.5.2.2. By End User
8. Asia-Pacific Thermoset Rubber Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Type
8.2.2. By End User
8.2.3. By Country
8.3. Asia-Pacific: Country Analysis
8.3.1. China Thermoset Rubber Market Outlook
8.3.1.1. Market Size & Forecast
8.3.1.1.1. By Value
8.3.1.2. Market Share & Forecast
8.3.1.2.1. By Type
8.3.1.2.2. By End User
8.3.2. India Thermoset Rubber Market Outlook
8.3.2.1. Market Size & Forecast
8.3.2.1.1. By Value
8.3.2.2. Market Share & Forecast
8.3.2.2.1. By Type
8.3.2.2.2. By End User
8.3.3. Japan Thermoset Rubber Market Outlook
8.3.3.1. Market Size & Forecast
8.3.3.1.1. By Value
8.3.3.2. Market Share & Forecast
8.3.3.2.1. By Type
8.3.3.2.2. By End User
8.3.4. South Korea Thermoset Rubber Market Outlook
8.3.4.1. Market Size & Forecast
8.3.4.1.1. By Value
8.3.4.2. Market Share & Forecast
8.3.4.2.1. By Type
8.3.4.2.2. By End User
8.3.5. Australia Thermoset Rubber Market Outlook
8.3.5.1. Market Size & Forecast
8.3.5.1.1. By Value
8.3.5.2. Market Share & Forecast
8.3.5.2.1. By Type
8.3.5.2.2. By End User
9. South America Thermoset Rubber Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Type
9.2.2. By End User
9.2.3. By Country
9.3. South America: Country Analysis
9.3.1. Brazil Thermoset Rubber Market Outlook
9.3.1.1. Market Size & Forecast
9.3.1.1.1. By Value
9.3.1.2. Market Share & Forecast
9.3.1.2.1. By Type
9.3.1.2.2. By End User
9.3.2. Argentina Thermoset Rubber Market Outlook
9.3.2.1. Market Size & Forecast
9.3.2.1.1. By Value
9.3.2.2. Market Share & Forecast
9.3.2.2.1. By Type
9.3.2.2.2. By End User
9.3.3. Colombia Thermoset Rubber Market Outlook
9.3.3.1. Market Size & Forecast
9.3.3.1.1. By Value
9.3.3.2. Market Share & Forecast
9.3.3.2.1. By Type
9.3.3.2.2. By End User
10. Middle East and Africa Thermoset Rubber Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Type
10.2.2. By End User
10.2.3. By Country
10.3. MEA: Country Analysis
10.3.1. South Africa Thermoset Rubber Market Outlook
10.3.1.1. Market Size & Forecast
10.3.1.1.1. By Value
10.3.1.2. Market Share & Forecast
10.3.1.2.1. By Type
10.3.1.2.2. By End User
10.3.2. Saudi Arabia Thermoset Rubber Market Outlook