The global synthetic rubber market is expected to reach USD 45.72 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the increasing end-use applications of synthetic rubber.
Increasing demand of synthetic rubber for tire production is one of the significant factors influencing the market growth. The benefits of synthetic rubber comprises exceptional abrasion resistance and adhesion to metals, thereby making it suitable in making of seals, gaskets, and other products. Also, synthetic rubber provides optimum performance in harsh temperatures owing to better heat resistance quality. It has been found that tires manufactured from synthetic rubber lose around 30.0% less mass as compared to tires produced from natural rubber. Moreover, the advancement in production technology has transformed the automobile industry, which is expected to experience increased sales in the upcoming years, thus creating an increase in the demand for tires, and in turn, would drive the growth of the market.
Growing demand for synthetic rubber from the footwear industry is fuelling the market demand. The footwear industry using a wide variety of materials that are used to make footwear ranging from casual footwear to technical products, including protective and safety footwear. Synthetic rubber possesses several superior physical characteristics appropriate for producing shoe sole; specifically, abrasion resistance, durability, tensile resistance, slip resistance, tear strength resistance, oil resistance, and the capacity to be molded in different shades.
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Leading Companies operating in the Global Synthetic Rubber Market:
DuPont, Eastman Chemical Company, INEOS, ExxonMobil Corporation, Chevron Phillips Chemical Company, Nova Chemicals Corporation, Mitsubishi Chemical Corporation, SABIC, Sinopec, and Goodyear, among others.
The Global Synthetic Rubber Market is witnessing a tremendous growth owing to the rapidly rising demands, a surge in industrialization, consumer awareness, emerging industries, and technological advancements. The industry has reported exponential revenue growth and sales volume. Factors driving the growth of the market are anticipated to boost the market size and boost the growth of the market throughout the forecast period.
For the purpose of this report, Reports and Data have segmented the global synthetic rubber market on the basis of product type, application, distribution channel, and region:
Product Type Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Styrene-Butadiene Rubber
- Ethylene Propylenediene Rubber
- Polybutadiene Rubber
Application Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
- Industrial Goods
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027 and Revenue, USD Million; 2017-2027)
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Market Segmentation by key geographical regions:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Germany, France, Italy, Spain, Rest of EU)
Asia-Pacific (India, China, Japan, South Korea, Australia, Rest of APAC)
Latin America (Brazil, Argentina, Peru, Chile, Rest of Latin America)
Middle East & Africa (U.A.E., Saudi Arabia, South Africa, Rest of MEA)
Table of Contents
Chapter 1. Report Overview
1.1 Research Scope
1.2 Key Synthetic Rubber market segments
1.3 Major players
1.4 Market analysis by product
1.5 Market analysis by application
1.6 Report timeline
Chapter 2. Global Growth Trends
2.1 Global Synthetic Rubber market size
2.2 Latest Synthetic Rubber market trends
2.3 Key growth trends
Chapter 3. Competitive Landscape
3.1 Global Synthetic Rubber market key players
3.2 Global Synthetic Rubber size by manufacturers
3.3 Products of major players
3.4 Entry barriers in the Synthetic Rubber market
3.5 Mergers, acquisitions, joint ventures, and strategic alliances
Major offerings of the Synthetic Rubber market report:
- In-depth analysis of the Synthetic Rubber market along with present and emerging trends
- Forecast estimations to assist in formulating investment strategies
- Assessment of key drivers, restraints, opportunities, challenges, and risks of the market
- SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis
- Financial analysis and market position of the dominant players of the market
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