The latest research study “Synthetic Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global synthetic rubber market size reached a value of US$ 30.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 38.51 Billion by 2027, exhibiting a CAGR of 3.70% during 2022-2027.
What is Synthetic Rubber ?
Synthetic rubber, also known as rubber or artificial elastomer, is produced from petroleum by-products. It is produced from raw materials, such as coal, natural gas, oil, acetylene, and other hydrocarbons. Ethylene propylene diene monomer, isobutylene isoprene, styrene-butadiene, and polybutadiene are some commonly used synthetic rubbers. It provides better abrasion resistance, elasticity, flexibility at low temperatures, and suitability for utilization in environments exposed to chemicals, oils and greases. Owing to these properties, it finds application in footwear, seals, tires, hoses, belts, and matting.
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Synthetic Rubber Market Trends and Drivers:
The market is primarily driven by the expanding automotive industry. In addition, various product innovations, such as the introduction of chemically optimized synthetic rubber with tailor-made silica, improve wear efficacy and rolling resistance.
It also decreases fuel consumption and carbon dioxide emissions, thereby contributing to the market growth. In line with this, rapid development of the manufacturing sector in emerging economies is creating a positive outlook for market growth. Moreover, the introduction of bio-based feedstock for synthetic rubber and the widespread adoption of electric vehicles (EVs) is accelerating the product adoption rate.
Along with this, the use of styrene-butadiene rubber (SBR) for manufacturing tires due to its resistance to water, silicone oil, grease and weak acids is anticipated to drive the market further.
Global Synthetic Rubber Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Synthetic Rubber Companies:
Apcotex Industries Limited, Asahi Kasei Corporation, China Petrochemical Corporation, Denka Company Limited, Exxon Mobil Corporation, JSR Corporation, Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), The Goodyear Tire & Rubber Company, TSRC Corporation and Zeon Corporation.
The report has segmented the market on the basis of region, type, distribution channel and application.
Breakup by Type:
- Styrene Butadiene Rubber
- Ethylene Propylene Diene Rubber
- Polybutadiene Rubber
- Isobutylene Isoprene Rubber
Breakup by Distribution Channel:
Breakup by Application:
- Tire and Tire Component
- Non-Tire Automobile Application
- Industrial Goods
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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