The global synthetic rubber market size is expected to reach USD 24.90 Billion at a revenue CAGR of 3.8% in 2028, according to latest analysis by Emergen Research. Steady global synthetic rubber market growth can be attributed to increasing cost of natural rubber and various benefits provided by synthetic rubber over natural rubber. Synthetic rubber possesses better durability and extended service life as compared to natural rubber due to greater endurance to degradation and damage caused by chemicals and improved resistance to low and high temperatures, UV radiation, ozone, and weathering. Also, synthetic rubber displays excellent elasticity at low temperatures and insulation to electricity. In comparison to natural rubber, synthetic rubber offers ease of production in diverse variations at lower cost, making it appropriate for use in a variety of end-use applications with very specific requirements. Custom-made formulations of synthetic rubber can be produced to improve or add particular material properties, including flame resistance.
Furthermore, the report provides a comprehensive analysis of the impact of the COVID-19 crisis on the market. It offers detailed insights into the impact of COVID-19 on the industry at a regional level and industry level. The report also covers the developments and government regulations related to COVID-19. The report further analyzes the current and future impact of COVID-19 on the global market and provides an insight into the post-COVID-19 situation.
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The Global Synthetic Rubber Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
The report offers insightful information about the market dynamics of the Synthetic Rubber market. It offers SWOT analysis, PESTEL analysis, and Porter’s Five Forces analysis to present a better understanding of the Synthetic Rubber market, competitive landscape, factors affecting it, and to predict the growth of the industry. It also offers the impact of various market factors along with the effects of the regulatory framework on the growth of the Synthetic Rubber market.
Furthermore, the report includes an in-depth analysis of the competitive landscape. The segment covers a comprehensive overview of the company profiles along with product profiles, production capacities, products/services, pricing analysis, profit margins, and manufacturing process developments. The report also covers strategic business measures undertaken by the companies to gain substantial market share. The report provides insightful information about recent mergers and acquisitions, product launches, collaborations, joint ventures, partnerships, agreements, and government deals.
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Some Key Highlights from the Report
- In May 2021, Trinseo made an announcement about signing an agreement with Synthos SA to sell its synthetic rubber business unit (located in Germany) for around USD 491.0 million.
- Amon the product type segments, the styrene butadiene rubber segment accounted for largest revenue share in 2020. Styrene butadiene rubber is a general-purpose rubber exhibiting improved abrasion resistance, better resistance to heat and aging, lower elasticity, and exceptional electrical insulation. It finds considerable use in tire manufacturing, and for seals, conveyor belts, and various other technical products.
- Among the application segments, the automotive tire segment contributed largest revenue share to the global market in 2020. Synthetic rubber deforms on application of stress and when stress is removed, it returns back to its original shape. This characteristic is immensely beneficial in production of automotive tires for an improved grip on road surfaces. It also offers improved durability and better rolling resistance. Styrene butadiene rubber is the most commonly used material type in light application automotive tires.
Some major companies in the market are DuPont, SABIC, SIBUR International, Exxon Mobil Corporation, Asahi Kasei Corporation, LG Chem Ltd., Goodyear Tire & Rubber Company, Lanxess AG, Mitsui Chemicals Inc., and JSR Corporation.
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Emergen Research has segmented the global synthetic rubber market on the basis of product type, application, and region:
Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Styrene Butadiene Rubber
- Styrene Block Copolymer
- Polybutadiene Rubber
- Butyl Rubber
- Ethylene Propylene Diene Rubber
- Acrylonitrile Butadiene Rubber
Application Outlook (Revenue, USD Billion; 2018–2028)
- Automotive Tire
- Automotive Non-Tire
- Industrial Goods
- Consumer Goods
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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