Global Synthetic Rubber Market

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Global Synthetic Rubber market was valued at USD 28.27 Billion in 2019 and is expected to reach USD 46.58 Billion by 2027, at a CAGR of 6.44%.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

The automotive industry is one of the fastest-growing industries in the world, and which in turn is related to the synthetic rubber industry. About 75% of the world’s rubber production is involved in the production of tires. Increasing consumption of styrene in athletic footwear is anticipated to fuel the demand for synthetic rubber market.

Synthetic rubber market Based on application, tire segment is leading synthetic rubber market. Features such as control, grip, wet traction, puncture resistance, ...
... steering response, directional stability, rolling resistance, and speed are a few key features of synthetic rubber that have led to increasing demand for this product. Along with this, factors like run-flat capability, impact resistance, high fuel efficiency and weather resistance further propel the demand for synthetic rubber especially because of its utility in challenging situations.

Styrene-butadiene rubber is one of the most widely used synthetic rubber. Styrene-butadiene rubber is used in large quantities for manufacturing of truck tires along with other automobiles where abrasion-resistant quality has formed a key factor to drive a styrene-butadiene rubber market. Other than this, styrene-butadiene rubber produced in latex form is also used as a rubbery adherent in carpet manufacturing. Some other applications of styrene-butadiene rubber include haul-off pads, conveyor belts, shoe soles, drive couplings and heels, adhesives, roll coverings along with other molded rubber goods that have also boosted this market.

Asia Pacific region dominates the synthetic rubber with countries like China and India contributing to growth. Automobile manufacturing companies across China and India has been a key factor to boost the overall growth in the Asia Pacific region.
Scope of the report:

Synthetic Rubber Market, by Type:

• Styrene-Butadiene Rubber
• Styrenic Block Copolymer
• Polybutadiene Rubber
• Butyl Rubber
• Nitrile Butadiene Rubber
• Ethylene Propylene Diene Monomer
• Others
Synthetic Rubber Market, by Application:

• Non-tire automotive
• Footwear
• Tire
• Industrial
• Others
Synthetic Rubber Market, by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Key Players Operating in the Synthetic Rubber Market:

• LANXESS (Germany)
• Sinopec (China)
• The Goodyear Tire and Rubber Company (US)
• Kumho Petrochemical (South Korea)
• TSRC Corporation (Taiwan)
• JSR Corporation (Japan)
• LG Chem (South Korea)
• VersalisS.p.A. (Italy)
• ZEON Corporation (Japan)
For More Information Visit: https://www.maximizemarketresearch.com/market-report/synthetic-rubber-market/513/
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