The might of the US rubber industry over the years has grown by leaps and bounds. Changing with the times, the region continues to be a major force in terms of rubber and tyre consumption apart from being a major producer and consumer of synthetic rubber (SR), a host of speciality rubber chemicals and home to a booming US$130 billion medical devices market, the largest in the world. The region is also fiercely competitive in all aspects of the wider tyre market -- passenger car tyres, truck and bus tyres, agricultural tyres and OTR tyres.
The United States’ rubber industry has an eventful past, a pulsating present and a challenging future. During the late 19th century, Ohio emerged as the leader of rubber production in the United States. Numerous rubber companies operated in or near Akron, Ohio, making this city the ‘Rubber Capital of the World.’ Among the large-scale rubber producers that had factories in the area were the B.F. Goodrich Company, the Goodyear Tire and Rubber Company, and the Firestone Tire and Rubber Company. The advent of the bicycles first and then the automobiles allowed these companies to earn tremendous wealth.
Chemicals and industrial products
The US synthetic rubber industry reports more than $4.5 billion in annual shipments, and it exports substantial amounts of these materials. The production and sales of rubber-based products constitute major market opportunities. According to the latest research reports, global rubber processing chemicals market was valued at over USD 3.71 billion in 2015, is expected to reach above USD 5.10 billion in 2021 and is anticipated to grow at a CAGR of slightly above 5.2% between 2016 and 2021.
After a slight slump, the industrial rubber product demand in the US has been on a recovery path since 2013. Advances will benefit from a turnaround in motor vehicle production and there is an ongoing process of recovery in the manufacturing sector. However, these areas, including Australia and Canada, will continue to be the most intensive users of industrial rubber products because of the advanced industrial and technological nature of their economies.
Tyre industry: Challenges aplenty
This story is from the January - February 2018 edition of Rubber Asia.
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This story is from the January - February 2018 edition of Rubber Asia.
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