The latest research study “Synthetic Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global synthetic rubber market size reached a value of US$ 30.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 38.51 Billion by 2027, exhibiting a CAGR of 3.70% during 2022-2027.
What is Synthetic Rubber?
Synthetic rubber, also known as rubber or artificial elastomer, is produced from petroleum by-products. It is produced from raw materials, such as coal, natural gas, oil, acetylene, and other hydrocarbons. Ethylene propylene diene, isobutylene isoprene, styrene-butadiene, and polybutadiene are some commonly used synthetic rubbers. It provides better abrasion resistance, elasticity, flexibility at low temperatures, and suitability for utilization in environments exposed to chemicals, oils and greases. Owing to these properties, it finds application in footwear, seals, tires, hoses, belts, and matting.
Request a PDF Sample for more detailed market insights: https://www.imarcgroup.com/synthetic-rubber-market/requestsample
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Synthetic Rubber Market Trends and Drivers:
The market is primarily driven by the expanding automotive industry. In addition, various product innovations, such as the introduction of chemically optimized synthetic rubber with tailor-made silica, improve wear efficacy and rolling resistance.
It also decreases fuel consumption and carbon dioxide emissions, thereby contributing to the market growth. In line with this, rapid development of the manufacturing sector in emerging economies is creating a positive outlook for market growth. Moreover, the introduction of bio-based feedstock for synthetic rubber and the widespread adoption of electric vehicles (EVs) is accelerating the product adoption rate.
Along with this, the use of styrene-butadiene rubber (SBR) for manufacturing tires due to its resistance to water, silicone oil, grease and weak acids is anticipated to drive the market further.
Synthetic Rubber Market Report Scope
Report Coverage
Details
Market size value in 2021
US$ 30.64 Billion
Market forecast in 2027
US$ 38.51 Billion
Growth Rate
CAGR of 3.70% from 2022 to 2027
Base year for estimation
2021
Historical data
2016-2021
Forecast period
2022-2027
Global Synthetic Rubber Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Synthetic Rubber Companies:
Apcotex Industries Limited (NSE: APCOTEXIND)
Asahi Kasei Corporation (OTCMKTS: AHKSY)
China Petrochemical Corporation
Denka Company Limited (OTCMKTS: DENKF)
Exxon Mobil Corporation (NYSE: XOM)
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
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/synthetic-rubber-market
The report has segmented the market on the basis of region, type, distribution channel and application.
Breakup by Type:
Breakup by Distribution Channel:
Breakup by Application:
Breakup by Region:
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Browse More Trending Industry Research Reports (Book Now With 10% Discount + COVID-19 Scenario):
Solid State Drive (SSD) Market Share Estimated to Garner US$ 95.51 Billion by 2027 with a CAGR of 15.60%
Automated Guided Vehicles Market Size, Report, Share, Growth, Analysis and Forcast till 2022-2027
Predictive Maintenance Market By Component, Technique, Deployment Type, Organization Size, Industry Vertical, Global Opportunity Analysis and Industry Forecast, 2022-2027
Pharmaceutical Robots Market By Type, Application, End User, Global Opportunity Analysis and Industry Forecast, 2022-2027
Automated Guided Vehicles Market By Type, Mode of Operation, Navigation Technology, Application, Industry 2022-2027
Medical Tubing Market By Product, Structure, Application, End User, Global Opportunity Analysis and Industry Forecast, 2022-2027
Rigid Plastic Packaging Market By Product, Material, Production Process, End Use Industry, Global Opportunity Analysis and Industry Forecast, 2022-2027
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Media ContactCompany Name: IMARC GroupContact Person: Elena AndersonEmail: Send EmailPhone: +1-631-791-1145Address:30 N Gould St Ste R City: SheridanState: WYCountry: United StatesWebsite: https://www.imarcgroup.com