The global synthetic rubber market size reached US$ 32.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 39.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.52% during 2023-2028.
Synthetic rubber is a man-made rubber, or an artificial elastomer, produced from various petroleum-based monomers. It is synthesized from raw materials, such as oil, coal, natural gas and acetylene. Ethylene propylene diene, polyisoprene, polybutadiene, styrene-butadiene and isobutylene isoprene are some of the commonly used synthetic rubbers. It is widely used in belts, hoses, seals, floor coverings, tires, footwear and conveyor belts. As compared to natural rubber, synthetic rubber exhibits better elasticity, toughness, flexibility at low temperatures, adhesiveness, resistance to water, heat, alkalis, acids, abrasion, grease and oil. It also provides high resilience, good tensile strength, durability, and tear resistance.
2. What is the expected growth rate of the global synthetic rubber market during 2023-2028?
3. What are the key factors driving the global synthetic rubber market?
4. What has been the impact of COVID-19 on the global synthetic rubber market?
5. What is the breakup of the global synthetic rubber market based on the type?
6. What is the breakup of the global synthetic rubber market based on the form?
7. What is the breakup of the global synthetic rubber market based on the application?
8. What are the key regions in the global synthetic rubber market?
9. Who are the key players/companies in the global synthetic rubber market?
Synthetic rubber is a man-made rubber, or an artificial elastomer, produced from various petroleum-based monomers. It is synthesized from raw materials, such as oil, coal, natural gas and acetylene. Ethylene propylene diene, polyisoprene, polybutadiene, styrene-butadiene and isobutylene isoprene are some of the commonly used synthetic rubbers. It is widely used in belts, hoses, seals, floor coverings, tires, footwear and conveyor belts. As compared to natural rubber, synthetic rubber exhibits better elasticity, toughness, flexibility at low temperatures, adhesiveness, resistance to water, heat, alkalis, acids, abrasion, grease and oil. It also provides high resilience, good tensile strength, durability, and tear resistance.
Synthetic Rubber Market Trends:
The significant expansion in the automotive industry across the globe is creating a positive outlook for the market growth. Synthetic rubber is widely used in vehicle components, such as tires, doors, window profiles, belts and gaskets, owing to its good ageing stability and high abrasion resistance. In line with this, the widespread utilization of styrene-butadiene rubber (SBR) for the manufacturing of tires due to its resistance with alcohol, silicone oil, grease, water and weak acids is favoring the market growth. Moreover, various product innovations, such as the introduction of chemically optimized synthetic rubber with tailor-made silica that provides enhanced wear efficacy and rolling resistance, while reducing fuel consumption and carbon dioxide emissions, are providing an impetus to the market growth. Additionally, the increasing product demand in dimensionally stable and elastically malleable technical products, such as roller coverings, roof sheeting, conveyor belts and molded parts, is positively impacting the market growth. Apart from this, the widespread adoption of electric vehicles (EVs) and the introduction of bio-based feedstock for synthetic rubber are anticipated to drive the market further.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global synthetic rubber market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, form and application.Breakup by Type:
- Styrene Butadiene Rubber
- Ethylene Propylene Diene Rubber
- Polyisoprene
- Polybutadiene Rubber
- Isobutylene Isoprene Rubber
- Others
Breakup by Form:
- Liquid Synthetic Rubber
- Solid Synthetic Rubber
Breakup by Application:
- Tire and Tire Component
- Non-Tire Automobile Application
- Footwear
- Industrial Goods
- Others
Breakup by Region:
North America
- United States
- Canada
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
Latin America
- Brazil
- Mexico
- Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Apcotex Industries Limited, Asahi Kasei Corporation, China Petrochemical Corporation, Denka Company Limited, Exxon Mobil Corporation, JSR Corporation, Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), The Goodyear Tire & Rubber Company, TSRC Corporation and Zeon Corporation.Key Questions Answered in This Report
1. What was the size of the global synthetic rubber market in 2022?2. What is the expected growth rate of the global synthetic rubber market during 2023-2028?
3. What are the key factors driving the global synthetic rubber market?
4. What has been the impact of COVID-19 on the global synthetic rubber market?
5. What is the breakup of the global synthetic rubber market based on the type?
6. What is the breakup of the global synthetic rubber market based on the form?
7. What is the breakup of the global synthetic rubber market based on the application?
8. What are the key regions in the global synthetic rubber market?
9. Who are the key players/companies in the global synthetic rubber market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Synthetic Rubber Market
6 Market Breakup by Type
7 Market Breakup by Form
8 Market Breakup by Application
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Apcotex Industries Limited
- Asahi Kasei Corporation
- China Petrochemical Corporation
- Denka Company Limited
- Exxon Mobil Corporation
- JSR Corporation
- Kumho Petrochemical Co. Ltd.
- Lanxess AG
- LG Chem Ltd.
- PJSC Nizhnekamskneftekhim
- Reliance Industries Limited
- Saudi Basic Industries Corporation (Saudi Arabian Oil Co.)
- The Goodyear Tire & Rubber Company
- TSRC Corporation
- Zeon Corporation.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | June 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 32 Billion |
| Forecasted Market Value ( USD | $ 39.8 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
