|
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
|
Market Overview
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.
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.
Growing
Demand of Thermoset Rubber in Construction Industry
Thermoset rubber is widely recognized
and valued for its exceptional high impact and tear strength, remarkable
abrasion resistance, and impressive elongation properties. These
characteristics make it an ideal material for a wide range of applications in
the dynamic construction industry. It finds extensive use in various building
materials, including seals, gaskets, and roofing materials, where its
exceptional performance and durability are highly sought after.
The continuous advancements in
technology have paved the way for the development of new and improved grades of
thermoset rubber. These high-performance versions offer even better properties,
expanding the potential uses of thermoset rubber in the construction industry.
With enhanced strength, flexibility, and longevity, these innovative grades
have opened up new possibilities for architects, engineers, and construction
professionals, leading to the creation of more durable and sustainable
structures.
The construction industry is
experiencing a remarkable boom, particularly in the Asia-Pacific region. The
exponential growth in construction activities, driven by rapid urbanization,
infrastructure development, and economic expansion, has resulted in a
substantial increase in the demand for construction materials like thermoset
rubber. As a critical component in the construction sector, thermoset rubber
plays a crucial role in ensuring the integrity, longevity, and performance of
various infrastructure projects. In the fiscal year 2024–25, the government has increased its capital expenditure by 11.1%, allocating USD133 billion representing 3.4% of the national GDP. This strategic infusion of funds is expected to act as a key catalyst for growth in the construction industry, accelerating the rollout of large-scale infrastructure projects across the country. Flagship housing programs such as the Pradhan Mantri Awas Yojana–Urban (PMAY-U) have demonstrated substantial execution momentum. As of September 10, 2024, the initiative has sanctioned 11.8 million urban housing units, with 8.66 million already completed and 11.5 million units under active construction. This underscores the government’s continued emphasis on urban development and inclusive housing, translating into robust demand for construction materials, labor, and related services.
The escalating demand for
thermoset rubber in the construction industry serves as a significant driver of
the global thermoset rubber market. As construction activities continue to
surge and sustainability takes center stage, the demand for thermoset rubber is
expected to rise further, fueling the overall growth and expansion of the
thermoset rubber market. With its exceptional properties and versatile
applications, thermoset rubber remains at the forefront of innovative solutions
for the construction industry, contributing to the development of resilient and
sustainable built environments.
Download Free Sample Report
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.
Segmental Insights
End
User Insights
Based on its end user, Automotive segment is projected to
experience rapid growth during the forecast period. Thermoset rubber is extensively utilized in automotive manufacturing for critical components such as engine mounts, suspension bushings, gaskets, seals, hoses, weatherstrips, brake components, and vibration-dampening systems. These components must endure high temperatures, prolonged mechanical load, corrosive fluids (oils, fuels, coolants), and continuous dynamic stress over the vehicle’s lifespan. Thermoset rubbers particularly EPDM, silicone rubber, and nitrile rubber offer permanent cross-linked structures that ensure long-term performance stability under such demanding conditions, where thermoplastics or natural rubbers would typically fail.
The automotive industry’s shift toward electric and hybrid vehicles (EVs and HEVs) has further solidified this dominance. In 2024, India witnessed a notable shift toward electrification in the mobility sector. Electric vehicles accounted for over 50% of new three-wheeler registrations, around 5% of two-wheeler purchases, and approximately 2% of new car sales signaling growing adoption, particularly in last-mile and urban transport segments. Globally, electric vehicles continue to gain traction, with EVs comprising 14% of all new car sales as of 2022. China remains the dominant force in this transition, both in terms of sales volume and production scale. The global EV fleet expanded sharply, reaching an estimated 60 million units on the road in 2022, reflecting the acceleration of the global mobility shift and increasing regulatory and consumer momentum toward low-emission transportation solutions. EV platforms demand thermally stable, high-dielectric-strength materials to ensure insulation and safety of high-voltage systems. Thermoset rubbers meet these criteria, especially in battery seals, cable jackets, and motor housing insulators. The need for lightweighting in EVs to improve range and energy efficiency is driving manufacturers to use high-performance elastomeric composites that maintain strength without adding weight another area where thermoset rubber outperforms. NVH (Noise, Vibration, and Harshness) reduction has become a priority for automakers seeking to enhance cabin comfort and vehicle refinement. Thermoset rubber’s viscoelastic nature allows it to absorb shocks and dampen vibrations effectively, making it indispensable in powertrain mounts and suspension systems.
Download Free Sample Report
Regional Insights
Asia Pacific emerged as the largest market in the Global Thermoset Rubber Market in 2024, holding the
largest market share in terms of value. Asia Pacific has emerged as the largest market in the global thermoset rubber landscape, underpinned by a confluence of industrial growth, regional manufacturing dominance, and robust end-user demand across key sectors. Countries such as China, India, Japan, and South Korea are at the forefront, driving both consumption and production capacities.
A primary growth driver is the region’s expansive automotive industry. China the world’s largest automotive producer along with rising automotive hubs in India and Southeast Asia, has significantly escalated demand for thermoset rubber components such as gaskets, seals, hoses, and vibration-damping parts. These materials are preferred in critical automotive applications due to their superior heat resistance, dimensional stability, and long-term performance under stress. The Asia Pacific region is witnessing accelerated investment in infrastructure and industrial machinery, particularly in China’s Belt and Road Initiative, India’s “Make in India” campaign, and ASEAN’s industrial corridor developments. These initiatives have triggered a surge in demand for thermoset rubber in construction equipment, insulation materials, and heavy-duty mechanical parts.
Recent Developments
- In January 2025, A recent study published in Nature by Cornell University researchers introduces a high-performance, sustainable alternative to conventional thermoset plastics. Leveraging a bio-based monomer, dihydrofuran (DHF), the newly developed material maintains the structural integrity and mechanical resilience of traditional thermosets, yet offers a critical competitive edge: it is both chemically recyclable and naturally degradable. This innovation directly addresses the escalating environmental liabilities associated with petrochemical-derived, non-recyclable plastics, positioning it as a commercially viable solution for industries under increasing regulatory and sustainability pressure.
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
|
By Type
|
By End User
|
By Region
|
- Natural Rubber
- Synthetic Rubber
|
·
Automotive
·
Consumer Goods
·
Medical
·
Others
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
|
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:
o Natural Rubber
o Synthetic Rubber
- Thermoset Rubber Market, By End User:
o Automotive
o Consumer Goods
o Medical
o Others
- Thermoset Rubber Market, By
Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
o South America
§ Brazil
§ Argentina
§ Colombia
o 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).
Global Thermoset Rubber Market is an upcoming
report to be released soon. If you wish an early delivery of this report or
want to confirm the date of release, please contact us at [email protected]