Synthetic Rubber Market Present Scenario And The Growth Prospects 2030

Synthetic Rubber Market Trends, Business Strategies, Regional Outlook, Challenges and Analysis Through 2030

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The global synthetic rubber market revenue stood at $31.0 billion in 2020, and the market is expected to exhibit huge expansion in the coming years. The market is being propelled by the rising demand for automotive tires, mushrooming requirement for long-lasting rubber, ballooning production capacity of many rubber manufacturers, and surging investments being made by them. Additionally, the booming automotive industry and the implementation of initiatives by several governments for increasing disposable income of citizens, facilitating industrialization, and fueling economic progress are also driving the market.

The soaring manufacturing and sales of automobiles, especially in developing nations, such as India and China, is fueling the expansion of the automotive industry. For instance, as per the India Brand Equity Foundation (IBEF), the automotive industry in India is predicted to reach a revenue of INR 16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. As rubber and rubber products are extensively used in the automobile industry in various applications, such as body sealing systems, vehicle anti-vibration systems, suspension systems, fluid transport systems, fused components, flat seals, O rings, and adhesives and sealants, the surge in the industry is positively impacting their demand.

In addition, many components in the engine compartment, such as engine seals and hoses in air conditioning systems, are produced from high-grade synthetic rubber. Owing to these factors, the expansion of the automotive industry is propelling the synthetic rubber market across the globe. Depending on product type, the market is divided into polybutadiene rubber (BR), butyl rubber (IIR), acrylonitrile-butadiene rubber (NBR), styrene-butadiene rubber (SBR), ethylenepropylene-diene rubber (EPDM), and styrene block copolymer (SBC).

Browse detailed report on Synthetic Rubber Market Analysis and Growth Forecast to 2030 Amongst these, the SBR category contributed the highest revenue to the market in the past, and it will demonstrate rapid expansion in the upcoming years as well, according to the market research firm, P&S Intelligence. This is credited to the abrasion resistance of SBR, which is desirable in the healthcare, footwear, and building and construction industries. When application is taken into consideration, the synthetic rubber market is classified into footwear, non-tire automotive, tire, adhesives and sealants, industrial components, and paints and coatings. Among these, the tire category dominated the market in 2020, and it is predicted to generate high revenue in the coming years as well.

This is ascribed to the ballooning requirement for replacement tires, owing to the soaring sales of two-wheelers and four-wheelers all over the world.

Geographically, the Asia-Pacific (APAC) region contributed the highest revenue to the synthetic rubber market in the years gone by. This was because of the

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high requirement for synthetic rubber in the tire and construction industries.

Moreover, leading automakers are rapidly setting up their manufacturing facilities in the APAC countries in order to strengthen their position in the industry. Currently, the automotive industry is surging in China, on account of the growing demand for clean automobiles, which is also fueling the expansion of the regional market.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/syntheticrubber-market/report-sample Hence, the market will exhibit rapid expansion in the forthcoming years, mainly because of the booming sales of automobiles all over the world.

Market Segmentation by Form Type •

Solid

•

Liquid

Market Segmentation by Product Type •

Styrene Butadiene Rubber (SBR)

•

Butadiene Rubber (BR)

•

Styrenic Block Copolymer (SBC)

•

Ethylene Propylene Diene Monomer (EPDM) Rubber

•

Butyl Rubber (IIR)

•

Nitrile Rubber (NBR)

•

Others

Market Segmentation by Application •

Tire

•

Non-Tire Automotive

•

Footwear

•

Industrial Components

•

Adhesives & Sealants

•

Paints & Coatings

•

Others

Market Segmentation by Region •

North America Synthetic Rubber Market o

By form type

o

By product type

o

By application

o

By country – U.S. and Canada

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•

•

•

•

Europe Synthetic Rubber Market o

By form type

o

By product type

o

By application

o

By country – Germany, France, U.K., Italy, Spain, and Rest of Europe

Asia-Pacific (APAC) Synthetic Rubber Market o

By form type

o

By product type

o

By application

o

By country – Japan, China, India, Australia, South Korea, and Rest of APAC

Latin America (LATAM) Synthetic Rubber Market o

By form type

o

By product type

o

By application

o

By country – Brazil, Mexico, and Rest of LATAM

Middle East and Africa (MEA) Synthetic Rubber Market o

By form type

o

By product type

o

By application

o

By country – Saudi Arabia, South Africa, and Rest of MEA

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