The Worldwide Cellular Rubber Industry is Expected to Reach $10.8 Billion by 2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Cellular Rubber Market Forecast to 2028 - COVID-19 Impact and Global Analysis" report has been added to ResearchAndMarkets.com's offering.

The cellular rubber market was valued at US$ 8,115.83 million in 2021 and is projected to reach US$ 10,884.41 million by 2028; it is expected to grow at a CAGR of 4.3% from 2021 to 2028.

Cellular rubber is a type of foam rubber with a cell structure, wherein the cells are not interconnected. It is lightweight and compressible, and the rubber sheet is generally combined with microporosity cells to create the microcellular rubber sheet. These rubber sheets are commonly used to make the soles of shoes and slippers, and are primarily designed for comfort, flexibility, and durability. Cellular rubber is used in the automobile industry for a variety of applications, including sealing doors and tubes, and manufacturing tires, along with protecting vehicle body parts from harsh weather.

Based on end user, the global cellular rubber market is segmented into automotive, electronics, aerospace, and others. The automotive segment held the largest share in 2020. Cellular rubber is widely used in the automotive industry for sealing door and tubes for vehicles as well as for making tires, protecting the body part of the vehicles form extreme weather conditions by providing a strong shield. It is also used to manufacture body parts and chassis parts as well as weather stripping among others. The EPDM cellular rubber is often used in the automotive industry due to its valuable sealing properties and noise isolation properties. The EPDM bonds present in the cellular rubber combines with metal which gives a strong barrier against the weather as well as the environment, road surface and engine vibration. EPDM is also UV-resistant and waterproof. Thus, the versatility of EPDM cellular rubber enables it to be used in various automotive applications.

In terms of geography, the cellular rubber market is primarily segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SAM), and Middle East & Africa (MEA). South and Central America is expected to register the highest CAGR in the market during 2021-2028. Growth prospects for the market players are ascribed to the escalating sales of consumer electronics on this region. The expanding automobile sector in Brazil and Argentina is driving up demand for cellular rubber. The automobile sector has grown primarily as a result of foreign investments. The sector in Argentina is expanding at a steady pace. Argentina plans to manufacture one million vehicles per year by 2023. These developments are eventually expected to propel the demand for cellular rubber in South and Central America in the coming years.

An interrupted supply of raw materials such as polyethylene and polypropylene, affecting production processes, has been a prime factor limiting the cellular rubber market growth during the COVID-19 pandemic. Additionally, a hike in crude oil prices have led to fluctuations in raw material prices, creating hurdles in the steady market growth. However, the cellular rubber market has witnessed a continuous demand from end-user industries such as automotive, construction, HVAC, and consumer goods. Moreover, as a part of economic recovery efforts, several sectors are strategically planning to invest in advanced and bio-based materials, such as cellular rubber, to address the growing need for environment friendly products.

The automotive sector has started to gain momentum and is expected to witness significant growth in the coming years with the increasing sale of electric vehicles, eventually providing significant growth opportunities for the cellular rubber market players. Further, the demand for various medicines and COVID-19 vaccines has also surged during the COVID-19 pandemic across the world. The trade of these entities is propelling the need for suitable storage facilities and systems, eventually adding to the demand for cellular rubber as a sealant and insulator.

Reasons to Buy

• Highlights key business priorities to assist companies realign their business strategies.
• Features key findings and crucial progressive industry trends in the global cellular rubber market, thereby allowing players to develop effective long-term strategies.
• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
• Scrutinizes in-depth market trends as well as key market drivers and restraints.
• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

Market Dynamics

Drivers

• Wide Application Base
• Rising Demand for Cellular Rubber in Automotive Industry

Restraints

• Fluctuating Raw Material Prices

Opportunities

• Rising Investments in Cold Chain Infrastructure

Future Trends

• Launch of Bio-based Products

Companies Mentioned

• NDS-SEALS
• Pana Foamtec Gmbh
• Eriks
• Ridderflex
• Polymax Ltd
• Rogers Corporation
• W. KOPP GmbH & Co. KG
• SEDO Chemicals Neoprene GmbH
• Kautschuk- und Kunststoffteile GmbH.
• Oskar Pahlke GmbH

For more information about this report visit https://www.researchandmarkets.com/r/54646g