Synthetic Rubber Market Share, Size, Trends, Industry Analysis Report By Product Type (SBR, EPDM, IR, PBR, & Others), By Application (Tire & Tire Components, Non-Tire Automobile Applications, Footwear, Industrial Goods, & Others), By Regions, Segments & Forecast, 2019 – 2026
The Global Synthetic Rubber Market is estimated to grow at a CAGR of 5.7% during the forecast period 2019-2026. As per the analysis, the Global Synthetic Rubber Market was valued at $29.90 billion in 2018.
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Synthetic rubber is artificial rubber derived from petroleum products. Various raw materials are used to create synthetic rubber like isobutylene, styrene, acrylonitrile, propylene, butadiene, isoprene acrylonitrile, chloroprene. Toughness, elasticity and resilience are its properties which make synthetic rubber the primary choice to make tires fir automobiles. Automobile products in Bicycles, Aircrafts and Automotive industries are driving the growth of the global synthetic rubber market. Growth in middle class population and industrialization has stimulated the footwear sector hence boosting the synthetic rubber market growth. Due to dying plantation in the world and high cost of natural rubber; synthetic rubber has dominated the market boosting the growth of Global Synthetic Rubber Market.
Nitrile butadiene rubber (NBR) is leading the market and is in demand in automotive applications. Global synthetic rubber market is getting more push as Government is more focused to replace internal combustion vehicles with electric vehicle types. Synthetic rubber marker is witnessing the growth in all parts of the world due to high demand in automobile industry. Synthetic rubber market could get impacted because of crude oil prices fluctuations and move to substitute the synthetic rubber with natural rubber.
Styrene Butadiene Rubber (SBR) is leading the segment due to its unique properties of high tensile strength, ageing ability and abrasion resistance. Modern standard of living and increased level of income of consumers has shown an increase in demand of consumer durables globally in return increasing the intake of goods and utilization of synthetic rubber in manufacturing sector.
Segmentation Overview of the Synthetic Rubber Market
The Global Synthetic Rubber Market is segmented on the basis of Application and Product. These segments are further categorized into various sub-segments to study the market in detail.
The Application Segment of Synthetic Rubber Market is Sub-Segmented into:
- Industrial Goods
- Non-Tire Automobile Applications
- Tire and Tire components
The Product Segment of Synthetic Rubber Market is Sub-Segmented into:
Geographical Overview of the Global Synthetic Rubber Market
As per the geographical segmentation, the global market was analysed across North America (U.S., Canada); Europe (Germany, UK, Belgium, France, Italy, Russia, Spain, Netherlands); Asia Pacific (China, India, Japan, Korea, Thailand, Australia, Indonesia, Philippines, Malaysia, Singapore); Latin America (Argentina, Brazil, Mexico); Middle East & Africa (Saudi Arabia, South Africa, UAE). As per the analysis, Asia Pacific especially China dominated the market for Synthetic Rubber Market however, North American and Western Europe may see deteriorating growth throughout the forecast period.
Key Players Insights
Sinopec, Sibur, JSR Corporation, LANXESS, China National Petroleum Corporation (CNPC), Kumho Petrochemical, Asahi Kasei Chemical Corporation, Trinseo, Ashland Inc. and Eastman Chemical Corporation are some of the key players operating in the industry. Companies are adopting various competitive strategies through innovation and R&D to withhold the market position for the long-term and acquire majority of market share by producing affordable products in market to cater to different consumer base.
Key Topics Covered
1.Overview and Scope
1.1.Research goal & scope
1.3.1.Primary data sources
1.3.2.Secondary data sources
3.Synthetic rubber Market Insights
3.1.Synthetic rubber industry snapshot
3.2.Synthetic rubber value chain & distribution analysis
3.3.Synthetic rubber production trends and further capacity expansion analysis
3.4.Synthetic rubber market dynamics
3.4.1.Synthetic rubber Market driver analysis
3.4.2.Synthetic rubber Market restraint/challenges analysis
3.4.3.Synthetic rubber Market opportunity analysis
3.5.Industry analysis – Porter’s five force
3.6.Synthetic rubber market PEST analysis
3.7.Synthetic rubber industry trends
3.8.Competitive company ranking analysis
4.Synthetic rubber Market Size and Forecast, By Product
5.Synthetic rubber Market Size and Forecast, By Application
5.2.Tire & Tire Components
5.3.Non-Tire Automobile Applications
6.Synthetic rubber Market Size and Forecast by Regions
6.6.Middle East & Africa
7.3.China National Petroleum Corporation (CNPC)
7.7.Trinseo, Eastman Chemical Corporation
7.8.Asahi Kasei Chemical Corporation
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