The Global Synthetic Rubber Market Size Was Valued At USD 28.89 Billion In 2021. The Market Is Projected To Grow From USD 29.86 Billion In 2022 To USD 41.73 Billion By 2029, Exhibiting a CAGR Of 4.9% During The Forecast Period. Global Synthetic Rubber Market Reports give a Key study on the industry status of the Synthetic Rubber Industry Manufacturer with the specific statistics, meaning, definition, SWOT Analysis, expert opinion, and recent development across the globe. The research report also covers the Market Size, Price, Sales, Revenue, Market share, Gross Margin, growth rate, and cost structure. The report aims to give an additional sample of the latest scenario, economic slowdown, and Covid-19 impact on overall Industry.
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The COVID-19 pandemic has been shocking and has never happened before. Compared to what it was before the pandemic, demand is lower than expected in all areas. Our research shows that the world market was 8.0% smaller in 2020 than in 2019.
Synthetic rubber is a type of rubber that is made in a lab. It is made, among other things, from coal, oil, natural gas, and acetylene. The product has a lot of good qualities, like being able to be recycled, having a higher tensile strength, and being resistant to swelling and wear. More and more companies are doing research and development to make their products better, which will increase the demand for rubber products. The fast growth of the aerospace, automotive, and construction industries, as well as the growing demand for rubber from the tyre and electronics industries, will drive the growth of the market.
Competitive Landscape and Global Market Share Analysis:
Indian Synthetic Rubber Private Limited (India), Apcotex Industries Limited (India), Reliance Industries Limited. (India), Trinseo (U.S.), Goodyear Tire and Rubber Company (U.S.), Sinopec (China), LANXESS (Germany), TSRC Corporation (Taiwan), JSR Corporation (Japan), Kumho Petrochemical (South Korea), Nizhnekamskneftekhim (Russia), Others
Market Segmentation:
By Type:
- Styrene Butadiene Rubber
- Nitrile Rubber
- Polybutadiene Rubber
- Butyl Rubber
- Others
By Application:
- Tire
- Non-tire Automotive
- Industrial Rubber Goods
- Footwear
- Others
The report on the Synthetic Rubber market covers the following region (country) analysis:
- North America (U.S., Canada)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
- South America (Mexico, Brazil, Argentina, Columbia, Rest of South America)
- Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
Regional Insights:
In the Asia-Pacific region, the size of the market in 2021 was USD 15.13 billion. Styrene-butadiene rubber and nitrile rubber are being used more in construction, which is a big reason for the growth. The market will also grow because products will get better and infrastructure will get better. China has the largest share of the market for synthetic rubber in this area. This is because they make more kinds of tyres and other products that don’t have to do with cars than any other country.
The second largest market in the world is in Europe. The fast growth of the automotive industry and the rising demand for tyres, belts, and hoses will drive the growth of the market in this area.
The rapid use of nitrile rubber in industrial goods and the rising demand for synthetic rubber caulk, crossword, and adhesives in the top applications will drive the market growth in North America. The fast growth of the electrical and electronic and tyre industries will also help the market grow in this area.
Industrial rubber mats are used a lot in the oil and gas industry. More and more man-made rubber is being used in these mats. This will make people in the Middle East and Africa more likely to buy the product. Butyl rubber is being used to make more and more shoes and other rubber goods in Latin America.
Following are the major TOC of the Synthetic Rubber Market:
Chapter 1: Synthetic Rubber Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Global Synthetic Rubber Market Competition by Manufacturers
Chapter 4: Global Production, Profits (Value) by Region
Chapter 5: Global Supply (Production), Import, Export, Consumption, by Regions
Chapter 6: Global Price Trend by Type, Revenue (Value), Production
Chapter 7: Manufacturing Cost Analysis
Chapter 8: Global Market Analysis by Application
Chapter 9: Industrial Chain and Downstream Buyers, Sourcing Strategy
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Market Effect Factors Analysis
Chapter 12: Global Synthetic Rubber Market Forecast
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Key Reasons to Purchase Synthetic Rubber Market report:
The report provides a thorough examination of the manufacturing methods, as well as ideas to reduce development risk, major market growth challenges and strategic inputs to overcome the market threats.
In-depth market analysis and an overview of the global Synthetic Rubber Market trend and commercial landscape are included in the report. In addition, the report discusses the effect of COVID-19 on the market.
Reader can acquire a better interpretation of the Synthetic Rubber Market forecast’s future view and opportunities from the report.
The report contains an analysis of recent developments as well as profiles of important market leaders and key players.
To gain an understanding of the market strategies by the leading market players in the Synthetic Rubber
The report analyses the most important driving and restraining factors in the industry, as well as their impact on global market growth.
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