Global Synthetic Rubber Market is valued at USD 39.3 billion in 2022 and is projected to reach a value of USD 56.0 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 6.10% over the forecast period 2023-2032.
The Synthetic Rubber Market is one of the most important economic sectors, and growth is expected to continue here over the coming years. Despite the industry’s volatility, a range of factors could influence its growth or decrease. This report examines present trends and potential developments to provide a comprehensive overview of the industry. It also provides details on the key industry players and their expansion strategies.
A type of polymers known as synthetic rubber has been designed to have resistance as well as particular qualities, including elasticity or viscosity. Synthetic rubbers are frequently derived chemically from hydrocarbons derived from petroleum and are used in the manufacture of consumer goods like conveyor belts, shoe soles, and tyres. Styrene-Butadiene Rubber (SBR) is one such type of synthetic rubber that was unintentionally discovered in Germany. It is also frequently referred to as SBR or SB rubber since it is made of styrene and butadiene units joined by a single carboxyl group. Because to their high modulus, styrene-butadienes exhibit good resistance to abrasion damage.
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The Synthetic Rubber market report is a perfect foundation for people looking out for a comprehensive study and analysis of the Synthetic Rubber market. On the basis of historic growth analysis and current scenario of Synthetic Rubber market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Synthetic Rubber market. This further helps user with their developmental strategy.
This report examines all the key factors influencing growth of global Synthetic Rubber market, including demand-supply scenario, pricing structure, profit margins, production and value chain analysis. Regional assessment of global Synthetic Rubber market unlocks a plethora of untapped opportunities in regional and domestic market places. Detailed company profiling enables users to evaluate company shares analysis, emerging product lines, scope of NPD in new markets, pricing strategies, innovation possibilities and much more.
Global Synthetic Rubber Market: Major Players
Chevron Phillips Chemical Company
DuPont de Nemours, Inc.
TSRC
Goodyear
Sinopec
Saudi Aramco
Nova Chemicals Corporation
Hexion
Kumho Petrochemical
Exxon Mobil Corporation
Eastman Chemical Company
LyondellBasell Industries Holdings BV
SABIC
Mitsubishi Chemical Corporation (MCC)
INEOS
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Global Synthetic Rubber Market: Types
Styrene Butadiene Rubber (SBR)
Ethylene Propylenediene Rubber (EPDM)
Polyisoprene (IR)
Polybutadiene Rubber (BR)
Other Types
Global Synthetic Rubber Market: Applications
Tire and Tire Component
Non-tire Automobile Application
Footwear
Industrial Goods
Other Applications
Global Synthetic Rubber Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Synthetic Rubber market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
The market will expand as a result of the increased demand for synthetic rubber from the automobile industry. Because it resists wear and changes in temperature, synthetic rubber is preferred in the automotive industry. Artificial rubber is perfect for usage in vehicle pedals and interior flooring mats due to its outstanding anti-slip qualities. Additionally, given that rubber products are used to make a variety of motorcycles and vehicles, it is projected that the rising demand for cars on a global scale would enhance product consumption. Due to the rapid growth of the automotive industry and expanding R&D activities, demand for the product will rise during the projection period.
One of the key end-use industries boosting demand for synthetic rubber is the aeroplane industry. Rubber has a significant role in the aerospace sector, which includes both aviation and spaceflight. Synthetic rubber, often known as silicone, has been used to create heat shields, adhesives, and seals. The creation and improvement of many types of synthetic rubber have fueled industrial expansion. Synthetic rubber is needed for thermal insulation, LED gaskets and seals, O-rings, window and door seals, vibration dampening, and other parts and components. In the upcoming years, it is projected that growing aircraft industry expansion will raise demand for synthetic rubber.
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