Saudi Arabia Industrial Rubber Market to grow with a CAGR of 5.16%

Growth in research and development related to industrial rubber are the major drivers for the Saudi Arabia Industrial Rubber Market.

According to TechSci Research report, “Industrial Rubber Market – Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, the Saudi Arabia Industrial Rubber Market is valued at 207.23 million and is expected to grow with a CAGR of 5.16% through 2028. This can be ascribed to collaborations and partnerships among leading companies with a diverse approach to merge the expertise of individual companies and to strengthen their position in the market.

Industrial rubber is widely used for electrical insulation in cables, wires, and electronic components. Rubber-based materials, such as silicone rubber, provide excellent electrical insulation properties, ensuring the safe transmission and distribution of electricity. Insulation materials made from rubber prevent electrical leakage, protect against short circuits, and enhance the overall safety and efficiency of electrical systems. In addition to this, industrial rubber is used for vibration damping and shock absorption purposes in electronic equipment, such as servers, control panels, and sensitive instruments. Rubber mounts, pads, and bushings help minimize vibrations, reduce noise levels, and protect electronic components from damage caused by mechanical stress. For instance, Arkema introduced Sartomer (meth)acrylate coagents are high-performance functional additives that are used in various rubber applications like wire, cables, etc. All these factors are anticipated to boost the market growth in the projected years.

In an era where innovation is the cornerstone of progress, the industrial rubber sector in Saudi Arabia is leveraging R&D to unlock new horizons of growth, product diversification, and enhanced competitiveness. R&D initiatives are leading to the development of novel rubber formulations with enhanced properties, such as improved durability, resistance to extreme temperatures, and optimized performance under specific conditions. These innovations empower industries to achieve higher levels of efficiency and reliability in their operations. R&D efforts are driving the adoption of cutting-edge manufacturing techniques, such as additive manufacturing (3D printing) and precision molding.

These techniques optimize production processes, reduce waste, and enable the creation of intricate rubber components. Through R&D, the potential applications of industrial rubber are expanding. From automotive components to medical devices, rubber's versatility is being harnessed in innovative ways, broadening its presence across diverse industries. Collaborations allow industry players to tap into each other's specialized knowledge. Manufacturers with expertise in rubber compounding, formulation, or processing can partner with experts in engineering, material science, or polymer technology to create cutting-edge solutions. Collaborative endeavors enable the co-creation of tailor-made rubber products that address specific industry needs. By pooling knowledge and resources, partners can develop bespoke solutions for diverse sectors such as automotive, construction, oil, and gas, and more. Collaborations often provide access to new markets and customer segments.

Partnering with distributors, suppliers, or businesses in complementary industries can open doors to a wider customer base, fostering market growth and penetration. Partnerships can help mitigate risks associated with market fluctuations, supply chain disruptions, or regulatory changes. Diversified partnerships create a more resilient ecosystem capable of adapting to challenges. For instance, ARLANXEO, a leading company in synthetic elastomers, has successfully increased its sales of EPDM (Ethylene Propylene Diene Monomer) rubber in the Kingdom of Saudi Arabia. This rubber is marketed under the brand name Keltan® KSA and has shown promising results throughout 2019. The marketing and sales of the new EPDM grades are a result of an agreement between ARLANXEO and Saudi Aramco, which was concluded in 2018. The collaboration has been further strengthened by Saudi Aramco's full ownership of ARLANXEO since the beginning of 2019.

However, lack of availability and fluctuations in prices of industrial rubber are expected to slow down the growth of the market in the coming years.

The Saudi Arabia Industrial Rubber Market segmentation is based on Type, Product, Application, End User, By Company, and Region.

Some of the major companies operating in the Saudi Arabia Industrial Rubber Market include:

·         Saudi Basic Industries Corporation

·         Arkema Chemicals Saudi Arabia

·         Evonik Tasnee Marketing LLC

·         eni Saudi Arabia

·         Saudi Aramco

·         General Industries Co. Ltd

·         Saudi Rubber Products Co.

·         Saudi Arabian Amiantit Co.

“Certain regions, particularly the Northern and Central region, are projected to exert significant demand for industrial rubber in the country. The growth in the competitive landscape and the presence of well-established companies in the market, committed to enhancing their productivity of industrial rubber each year, are expected to contribute to a remarkable growth of the Saudi Arabia Industrial Rubber Market in the forecast period," said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

Saudi Arabia Industrial Rubber Market, By Type (Natural Rubber, Synthetic Rubber), By Product (Mechanical Rubber Good, Rubber Belt, Rubber Hose, Rubber Roofing, Others), By Application (Automotive, Construction, Manufacturing, Medical & Healthcare, Electrical & electronics, Others), By End User (Commercial, Industrial, Residential), By Region, Competition, Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of Saudi Arabia Industrial Rubber Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide innovative market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia Industrial Rubber Market.

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