Trends In The Rubber Industry

Rubber is existence from time immemorial and the local population has been using rubber for over thousands of years. Rubber products are best suitable for making tires and other products. In the year 1839, vulcanized rubber was invented by Charles Goodyear and it is the most modern form of rubber used so far. Before the vulcanizing process, rubber tends to change its characteristics based on the weather conditions. Rubber becomes sticky if it is hot and brittle while cold. Rubber is a natural product yet the tire and the rubber industry depend on synthetic rubber products for certain uses.

Synthetic rubber was invented in the United States during the Second World War as the natural rubber was limited during the war period. There are 20 different types of synthetic rubber made from crude oil. These are used in various products.

Statistics on the rubber industry

  •         There are over 1.6 million units sold by the rubber industry for light commercial vehicles and cars in 2018, whereas the units sold in 2012 was around 1.33 billion.
  •         There are nearly 111 businesses operating within the rubber and tire industry in the US. They are expected to provide 42,000 direct employment opportunities in the country.
  •         Every year the rubber industry makes $18 billion and this includes motor vehicle tires, aircraft, repair materials and inner tubing. In the last 5 years, the industry saw annual dip of 3.3%.
  •         In Europe alone over 31,600 are directly employed in the rubber industry as per statistics from 2016. The figures calls for 1% rise in the employment opportunity in 2015.
  •         Meanwhile the companies operating in the European division of rubber and tire industry has experienced a cut by 2% since the year 2015, putting the total to 4,300 organisations.
  •         In Europe alone, over 4.94 million tons of tires are traded which is 1% increase in the 2015 figures. There are around 14 million units sold particularly for light commercial vehicles and 289 million units for cars.
  •         Roughly 60% of rubber supply in the world is consumed by the tire industry. The reminder is used for mulch, boots, rubber bands and other consumables.
  •         Around 27.5% metric tons is being consumed every year. The consumption was aove the production levels in the year 2016 touching 27.2 million metric tons.
  •         The global production accounts for lower than half the total rubber procution in the world. Around 12.4 million metric tons natural rubber items were manufactured in the year 2016.
  •         The Asia-Pacific domain is renowned for being the largest synthetic rubber production in the world. It is estimated that around 4 million metric tons are produced in this region every year.
  •         The revenue generated every year by car tires is put at $32.1 billion. The passenger vehicle tires amounts to the largest in the industry accounting to $21.8 billion in terms of revenue.
  •         Farming tires contributes to $502 million and have higher value in the rubber industry when compared to off-road tires that is estimated to be $401 million.