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.
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- 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.
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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.
Key Manufacturers Operating in Rubber Block Market
Key manufacturers operating in the global rubber block market include:
- Exxon Mobil Corporation
- 3M
- TSRC
- Kumho Petrochemical
- Sinopec
- JSR Corporation
- Maxx Rubber
- Ballistic Rubber
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