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Synthetic Rubber: Global Strategic Business Report

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    Report

  • 278 Pages
  • February 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338630

Global Synthetic Rubber Market to Reach $24.6 Billion by 2030

The global market for Synthetic Rubber estimated at US$18.5 Billion in the year 2022, is projected to reach a revised size of US$24.6 Billion by 2030, growing at a CAGR of 3.6% over the analysis period 2022-2030. Styrene-Butadiene Rubber, one of the segments analyzed in the report, is projected to record a 3.4% CAGR and reach US$8.8 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Polybutadiene Rubber segment is readjusted to a revised 3.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $5 Billion, While China is Forecast to Grow at 6% CAGR

The Synthetic Rubber market in the U.S. is estimated at US$5 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2030 trailing a CAGR of 6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.2 Billion by the year 2030.

Select Competitors (Total 52 Featured) -

  • ARLANXEO
  • Asahi Kasei Chemicals Corp.
  • Chongqing Changshou Chemical Co. Ltd.
  • Denka Co. Ltd.
  • Dow Inc.
  • Dynasol Elastomers
  • ExxonMobil Chemical Company
  • Firestone Polymers LLC
  • Goodyear Tire & Rubber Company
  • JSR Corporation
  • Korea Kumho Petrochemical Company
  • Lanxess AG
  • LG Chem Ltd.
  • Lion Elastomers
  • Shanxi Synthetic Rubber Group Co. Ltd.
  • Showa Denko K.K
  • SIBUR Holding JSC
  • SINOPEC Qilu Petrochemical Co. Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Synthos S.A.
  • Tosoh Corporation
  • TSRC Corporation
  • UBE Industries Ltd.
  • Versalis S.p.A.
  • Zeon Corporation

What's New?

  • Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and Research Platform
  • Complimentary updates for one year

Frequently Asked Questions about the Global Market for Synthetic Rubber

What is the estimated value of the Global Market for Synthetic Rubber?

The Global Market for Synthetic Rubber was estimated to be valued at $18.5 Billion in 2022.

What is the growth rate of the Global Market for Synthetic Rubber?

The growth rate of the Global Market for Synthetic Rubber is 3.6%, with an estimated value of $24.6 Billion by 2030.

What is the forecasted size of the Global Market for Synthetic Rubber?

The Global Market for Synthetic Rubber is estimated to be worth $24.6 Billion by 2030.

Who are the key companies in the Global Market for Synthetic Rubber?

Key companies in the Global Market for Synthetic Rubber include ARLANXEO, Asahi Kasei Chemicals Corp., Chongqing Changshou Chemical Co. Ltd., Denka Co. Ltd., Dow Inc., Dynasol Elastomers, ExxonMobil Chemical Company, Firestone Polymers LLC, Goodyear Tire & Rubber Company and JSR Corporation.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Rubber Industry - A Prelude
  • Recent Market Activity
  • Synthetic Rubber Market: A Review
  • Synthetic Rubber Consumption: Current and Future Analysis
  • SBR: A Major Type of Synthetic Rubber Product
  • Tire-Related Industries Continue to Spur Demand for Synthetic Rubber
  • Asia-Pacific at the Forefront of Growth in Synthetic Rubber Market
  • Pricing Scenario
  • Butadiene (BD): Major Feedstock for Synthetic Rubber
  • Synthetic Rubber - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
  • Asahi Kasei Chemicals Corp. (Japan)
  • Chongqing Changshou Chemical Co., Ltd. (China)
  • Denka Co., Ltd. (Japan)
  • Dow Chemical Company (USA)
  • Dynasol Elastomers (Mexico)
  • ExxonMobil Chemical Company (USA)
  • Firestone Polymers LLC (USA)
  • Goodyear Tire & Rubber Company (USA)
  • JSR Corporation (Japan)
  • Korea Kumho Petrochemical Company (Korea)
  • Lanxess AG (Germany)
  • ARLANXEO (Netherlands)
  • LG Chem Ltd. (Korea)
  • Lion Elastomers (USA)
  • Shanxi Synthetic Rubber Group Co., Ltd. (China)
  • Showa Denko K.K (Japan)
  • SIBUR Holding JSC (Russia)
  • SINOPEC Qilu Petrochemical Co. Ltd. (China)
  • Sumitomo Chemical Company Ltd (Japan)
  • Synthos S.A. (Poland)
  • TSRC Corporation (Taiwan)
  • Tosoh Corporation (Japan)
  • UBE Industries Ltd. (Japan)
  • Versalis S.p.A. (Italy)
  • Zeon Corporation (Japan)
  • Zeon Chemicals LP (USA)
3. MARKET TRENDS & DRIVERS
  • Synthetic Rubber Indispensable to Automobile Tires
  • Tires: The Most Important Part of the Automobile
  • World Auto Production to Exhibit STable Gains: Positive Outlook for Synthetic Rubber Market
  • Increasing Average Vehicle Life Drives Replacement Tires Demand
  • Innovation in Green Tire Construction Vital for Sustainable Growth of Tires Market
  • High-Performance Tires to Drive Growth
  • Growing Role of Nanotechnology Offers Benefits to Cover Entire Life-Cycle of Tires
  • Wide Price Differential Leads to Interchangeability of Synthetic and Natural Rubber
  • Tight Supply of Synthetic Rubber (SR), Higher Prices Squeeze Manufacturer Profit Margins
  • Increasing Footwear Sales Augur Well for Synthetic Rubber Market
  • Review of Select Product Segments
  • Styrene-Butadiene Elastomers (SBR)
  • Ethylene-Propylene Rubber (EPR)
  • Nitrile Butadiene Rubber (NBR)
  • Chloroprene Rubber
  • Polybutadiene Rubber
  • Butyl Rubber
  • Rubber Alternatives Threaten Demand
  • Thermoplastic Elastomers: An Alternative to Synthetic and Natural Rubber
  • R&D - Critical for Competitiveness of Synthetic Rubber Producers
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Synthetic Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 2: World Historic Review for Synthetic Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 3: World 18-Year Perspective for Synthetic Rubber by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2012, 2023 & 2030
  • Table 4: World Recent Past, Current & Future Analysis for Styrene-Butadiene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 5: World Historic Review for Styrene-Butadiene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 6: World 18-Year Perspective for Styrene-Butadiene Rubber by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Polybutadiene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 8: World Historic Review for Polybutadiene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 9: World 18-Year Perspective for Polybutadiene Rubber by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 10: World Recent Past, Current & Future Analysis for Ethylene Propylene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 11: World Historic Review for Ethylene Propylene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 12: World 18-Year Perspective for Ethylene Propylene Rubber by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 13: World Recent Past, Current & Future Analysis for Nitrile Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 14: World Historic Review for Nitrile Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 15: World 18-Year Perspective for Nitrile Rubber by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 16: World Recent Past, Current & Future Analysis for Polyisoprene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 17: World Historic Review for Polyisoprene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 18: World 18-Year Perspective for Polyisoprene Rubber by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 19: World Recent Past, Current & Future Analysis for Polychloroprene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 20: World Historic Review for Polychloroprene Rubber by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 21: World 18-Year Perspective for Polychloroprene Rubber by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 22: World Recent Past, Current & Future Analysis for Other Product Segments by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 23: World Historic Review for Other Product Segments by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 24: World 18-Year Perspective for Other Product Segments by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 25: World Recent Past, Current & Future Analysis for Tire by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 26: World Historic Review for Tire by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 27: World 18-Year Perspective for Tire by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 28: World Recent Past, Current & Future Analysis for Non-Tire Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 29: World Historic Review for Non-Tire Automotive by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 30: World 18-Year Perspective for Non-Tire Automotive by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 31: World Recent Past, Current & Future Analysis for Industrial Rubber Goods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 32: World Historic Review for Industrial Rubber Goods by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 33: World 18-Year Perspective for Industrial Rubber Goods by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 34: World Recent Past, Current & Future Analysis for Footwear by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 35: World Historic Review for Footwear by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 36: World 18-Year Perspective for Footwear by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 37: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2022 through 2030 and % CAGR
  • Table 38: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Million for Years 2012 through 2021 and % CAGR
  • Table 39: World 18-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2012, 2023 & 2030
  • Table 40: World Synthetic Rubber Market Analysis of Annual Sales in US$ Million for Years 2012 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
CANADA
JAPAN
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2023 (E)
CHINA
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
EUROPE
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
FRANCE
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2023 (E)
GERMANY
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2023 (E)
ITALY
UNITED KINGDOM
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2023 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
AUSTRALIA
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2023 (E)
INDIA
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2023 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Synthetic Rubber Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • ARLANXEO
  • Asahi Kasei Chemicals Corp.
  • Chongqing Changshou Chemical Co. Ltd.
  • Denka Co. Ltd.
  • Dow Inc.
  • Dynasol Elastomers
  • ExxonMobil Chemical Company
  • Firestone Polymers LLC
  • Goodyear Tire & Rubber Company
  • JSR Corporation
  • Korea Kumho Petrochemical Company
  • Lanxess AG
  • LG Chem Ltd.
  • Lion Elastomers
  • Shanxi Synthetic Rubber Group Co. Ltd.
  • Showa Denko K.K
  • SIBUR Holding JSC
  • SINOPEC Qilu Petrochemical Co. Ltd.
  • Sumitomo Chemical Co., Ltd.
  • Synthos S.A.
  • Tosoh Corporation
  • TSRC Corporation
  • UBE Industries Ltd.
  • Versalis S.p.A.
  • Zeon Corporation