Summary

Vietnam industrial rubber market is projected to grow at a formidable rate during the forecast period. The market growth can be attributed to the rapidly expanding tire industry and increasing demand for industrial rubber in automobiles for various purposes. As per the Automobile Sector Development Strategy, the Government of Vietnam plans to establish itself as the global supplier of spare parts and high-value items of automobiles, which is expected to drive the growth of the Vietnam industrial rubber market. Besides, the increasing sales of electric vehicles due to enhanced environmental awareness and decrease in prices of electric vehicle parts are propelling the growth of the Vietnam industrial rubber market. Moreover, industrial rubber is increasingly being utilized in automotive, building, industrial manufacturing, polymer modification, wire & cable, electrical & electronics, and other applications, propelling its market growth during the forecast period. Growing environmental awareness and fluctuating petroleum prices are leading to the greater adoption of sustainable and green programs in the industrial rubber industry. Market players are investing huge sums in developing sustainable and environment-friendly products from bio-based products derived from renewable resources streamlined by environmental regulations, which is expected to drive the growth of the Vietnam industrial rubber market. However, stringent regulations aimed at reducing carbon footprint are creating challenges for the industrial rubber manufacturing giants, which might negatively influence the growth of the Vietnam industrial rubber market in the coming years.

Vietnam industrial rubber market is segment based on type, product, application, region, and company. Based on the type, the market has been further divided into mechanical rubber goods, rubber belt, rubber hose, rubber roofing, and others. The mechanical rubber goods segment is expected to register the highest growth in the Vietnam industrial rubber market due to their increased automotive and construction applications. Furthermore, growing innovation in the products manufactured from synthetic rubber is adding to the dominance of the mechanical rubber goods segment.

Leading players in the Vietnam industrial rubber market are Lanxess, TSRC Corporation, The Goodyear Tire and Rubber Company, Sinopec, Zeon Corporation, Nizhnekamskneftekhim, Kumho Petrochemical, JSR Corporation, Versalis S.P.A., LG Chem, Jhao Yang Rubber Industrial Co., Maxrubber Industries Sdn Bhd, etc.

Years considered for this report
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2027
Objective of the Study:
• To analyse and forecast the market size of industrial rubber market, in terms of value and volume.
• To classify and forecast Vietnam industrial rubber market based on type, product, application and regional distribution.
• To identify drivers and challenges for Vietnam industrial rubber market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Vietnam industrial rubber market.
• To conduct the pricing analysis for industrial rubber market.
• To identify and analyse the profile of leading players involved in the manufacturing of Vietnam industrial rubber market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across Vietnam. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the suppliers which could not be identified due to the limitations of secondary research. TechSci Research analysed the service offerings, distribution channels and presence of all major collaboration manufacturer across Vietnam.
TechSci Research calculated the market size of Vietnam Industrial Rubber Market using a bottom-up approach, where data for various end user industries and its application across various product types were recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analysing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also used by TechSci Research.
Key Target Audience:
• Industrial Rubber Manufacturers
• End User
• Distribution utilities
• Government utility providers
• Industry associations and experts
• Research organizations and consulting companies.
• Research Institutes
• Industry associations
• Market research and consulting firm.
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as collaboration manufacturer and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Vietnam Industrial Rubber Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Type:
o Natural Rubber
o Synthetic Rubber (NBR, PBR, SBR, EPDM, Halo Butyl)
• Market, By Product:
o Mechanical Rubber Good
o Rubber Belt
o Rubber Hose
o Rubber Roofing
o Others
• Market, By Application:
o Automotive
o Wire & Cable
o Building & Construction
o Industrial Manufacturing
o Medical & Healthcare
o Medical & Healthcare
o Coating
o Sealant & Adhesive
• Market, by Country:
o Vietnam
 South Vietnam
 North Vietnam
 Central Vietnam
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Industrial Rubber Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according the 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).
Profit Margin Analysis
• Profit margin analysis in case of direct and indirect sales channel.

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