About Synthetic Rubber
A Synthetic Rubber is an artificial elastomer. They are polymers synthesized from petroleum byproduct. synthetic rubber is an artificially produced material having properties similar to natural rubber. Most synthetic rubbers are obtained by polymerization or polycondensation of unsaturated monomers. There are wide varieties of different synthetic rubbers are neoprene, Buna rubbers and butyl rubbers. The reflecting the various different applications such as floor coverings, medical equipment. Co-polymerization of different monomers leads to the material properties of synthetic rubber to be varied across a wide range. Increasing use of synthetic rubber in Tire Industry such as car, aircraft and bicycle. The growing demand for tire industry is the drive the synthetic rubber market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.6% |
Synthetic Rubber market is highly competitive with the presence of several regional and international players. The players are focusing on planning strategic activities like partnerships, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Synthetic Rubber market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sinopec (China), DuPont (United States), Dow Chemical Company (United States), ExxonMobil (United States), Kumho Petrochemical (China), Saudi Arabian Oil Co. (Saudi Arabia), TSRC (Taiwan), Goodyear (United States), Apcotex (India), China Petrochemical Corp. (China), Reliance Industries Ltd. (India) and Trinseo (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Denka Company Ltd (Japan) and JSR Corp. (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Synthetic Rubber market by Type (Styrene Butadiene Rubber (SBR), Fluroelastomer (FKM), Chlorosulfonated polyethylene (CSM), Acrylic Rubber, Isoprene Rubber, Silicone Rubber, Butyl Rubber and Others) and Region.
On the basis of geography, the market of Synthetic Rubber has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Automotive Industry will boost the Synthetic Rubber market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The growing biodegradation of synthetic rubber.
Market Growth Drivers:
The growing demand for tire industry., The growing demand for sport shoes market., Recovery of automotive sector in APAC region. and Rising popularity of electrical vehicles.
Challenges:
Overcapacity of synthetic rubber. and Rubber recycling
Restraints:
Health hazardous in synthetic rubber manufacturing industry. and Stringent environmental regulation in synthetic rubber manufacturing industry.
Opportunities:
Growing demand for high performance and eco-friendly tires. and Increasing demand in developing region.
Market Leaders and their expansionary development strategies
In April 2023, Sinopec’s Styrene Butadiene Copolymer (SBC) project with 170,000 tones/year production capacity goes into operation, Sinopec has launched production of its Styrene Butadiene Copolymer (SBC) project in China and Hainan. The project’s SBC Plant produces 170,000 tones of SBC and SEBS products annually, The plant has 13 units including refining, polymerization, recycling and post treatment, as well as supporting production and public facilities. Thus, this has enhanced the global presence of the company.
In September 2023, ExxonMobil’s Bengaluru Research and Development Technology Centre (BRDTC) its celebrating 25years of innovation and ingenuity. The centre has evolved and its plan to adapt to the demands of the future. The BRDTC initially focused on butyl rubber used in tyres, including researching ways for improving tyre pressure to keep two and four wheeler on the road for longer. Thus, this has enhanced the global presence of the company.
Key Target Audience
Synthetic Rubber Manufacturer, Synthetic Rubber Provider, Stakeholders, Research and Development and Regulatory Bodies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.