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Synthetic Rubber Market

Market Insights on Synthetic Rubber covering sales outlook, demand forecast & up-to-date key trends

Synthetic Rubber Market : Global Industry Analysis 2015-2019 and Opportunity Assessment 2020-2030

Synthetic Rubber Market: Overview

Synthetic rubber is a type of artificial polymer and made form petroleum products as by-products. Synthetic rubber is an alternative to natural rubbers owing to its advantages and easy production process. While natural rubber required tropical climate as well as many precautions for cropping.  Therefore, many countries such as China, Russia, U.S., and among others are preferring synthetic rubber to various rubber products.

According to synthetic rubber experts: synthetic rubber can be stiff like a bowling ball or as elastic as a rubber band or even soft like a sponge. Therefore, the application purview of synthetic rubber is broader.

Tire manufacturing companies have made huge strides in the use of synthetic rubber market as a vital ingredient in the manufacturing of tires and its accessories. Buna rubbers are commonly used for tire manufacturing. While, Butyl rubber, since it is gas- impenetrable, is usually used for inner tubes. To make rubber products, nearly 70% of industries are preferring to use synthetic rubber as raw material due to its low-cost and other advantages over natural rubber.

Synthetic rubber is manufactured by four key types of producers: chemical companies, government entities, petroleum and natural gas companies, and tire companies. Upstream producers and downstream producers are also playing a crucial role in the market as these producers provide the required raw materials for synthetic rubber i.e. monomer, crude petroleum, and natural gas extraction.

Synthetic Rubber Market: Dynamics

The rising application of synthetic rubber coupled with growing penetration of synthetic rubber in the automotive industry is projected to provide a fillip to the demand of synthetic rubber market over the coming decades. Furthermore, rapid industrialization, growth in personal income & manufacturing output, among others, are also expected to impact the demand of synthetic rubber market in the future.

Moreover, growing production and demand for consumer goods and industrial goods are also estimated to shape up the global demand of the synthetic rubber market over the coming years.

Fluctuations in the price of crude oil which provides the raw material to make synthetic rubber, may hamper the future demand of synthetic rubber market over the stipulated time period. Furthermore, trade tensions between large economies such as China and the U.S. could also create headwinds for the global synthetic rubber market in the coming decades.   

Leading automotive tire manufacturers are making hefty investments in research and development to make eclectic rubber which will be more resilient and stiff as compared to synthetic rubbers.

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Synthetic Rubber Market: Regional Outlook

Europe is expected to command a significant share of the global synthetic rubber market due to the presence of numerous automotive tire manufacturing companies in the region.  However, Brexit may affect the synthetic supply-demand scenario between the European Union and Britain in the future.

North America region is projected to grow with a considerable growth rate in the global market as a consequence of rising demand form sport and consumer goods over the forecast period. The Asia Pacific region is projected to grow with an high growth rate in the global synthetic rubber market owing to rapid growth in industrial sectors coupled with healthy growth in on-road vehicle population which in turn is expected to boom the sales of synthetic rubber by the end of the forecast period.

Additionally, countries such as India, Indonesia, Thailand and Malaysia are creating a new opportunity avenues in the market due to healthy growth in industrial sectors and aftermarket automotive sectors over the last five to ten years.

Synthetic Rubber Market: Key Participants

Some of the market participants in the Synthetic Rubber market identified across the value chain:

  • Arlamxeo
  • China Petroleum & Chemical Corporation
  • Kumho Petrochemical Co., Ltd.
  • TSRC
  • Exxon Mobil Corporation
  • The Goodyear Tire & Rubber Company
  • Nizhnekamskneftekhim
  • JSR Corporation
  • SIBUR
  • LG Chem

The research report on the Synthetic Rubber market presents a comprehensive assessment, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Synthetic Rubber market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to mentioned market segments.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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The report covers exhaustive analysis on

  • Synthetic Rubber Market Segments
  • Synthetic Rubber Market Dynamics
  • Synthetic Rubber Market Size
  • New Sales of Synthetic Rubber
  • Current Trends/Issues/Challenges in the Synthetic Rubber Market
  • Competition & Companies Involved in Synthetic Rubber
  • New Technology for Synthetic Rubber
  • Value Chain of the Synthetic Rubber Market

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico, Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC Countries, S. Africa, Northern Africa)

The global Synthetic Rubber market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.

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Synthetic Rubber Market: Segmentation

By Product Type, Synthetic Rubber market can be segmented as:

  • Isoprene rubber (IR)
  • Styrene butadiene rubber
  • Chloroprene rubber (CR)
  • Acrylonitrile butadiene rubber (NBR)
  • Polybutadiene rubber (BR)
  • Butyl rubber (IIR)
  • Others

By End Use, Synthetic Rubber market can be segmented as:

  • Automotive
  • Consumer Goods
  • Industrial Goods
  • Chemical
  • Medical
  • Pulp & Paper

By Application, synthetic rubber market can be segmented as:

  • Tires
  • Passenger Cars
  • Commercial Vehicles
  • Electric Vehicles
  • Agriculture Vehicles
  • Others
  • Industrial Goods
  • Hoses
  • Belts
  • Tubes
  • Seals
  • Gaskets
  • Rubber coated cloth
  • Consumer Goods
  • Footwear
  • Sporting Goods
  • Adhesives & foams
  • Cable & wire cover
  • Medical goods
  • Paper & fabric coating

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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