Global synthetic rubber market is projected to register growth at formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the growing trends in automotive to reduce the weight of vehicles for better fuel efficiency and rising use of synthetic rubber in the tire and non-tire automotive applications. Besides, shifting consumer preferences towards electric vehicles and changing regulatory frameworks are contributing to the growth of the global synthetic rubber market. Additionally, rising popularity of car rentals and ridesharing, owing to rapid urbanization, and growing working population are some of the factors contributing to the growth of the global synthetic rubber market. Moreover, rising demand for high-performance and eco-friendly tires as a growing concern over deteriorating environmental conditions is anticipated to fuel the global synthetic rubber market in the coming years. Furthermore, surging demand for green tires and increasing focus of participants on key revenue-generating end uses such as tires, adhesives, and consumer goods is expected to fuel the growth of the global synthetic rubber market in the coming years.
The global synthetic rubber market is segmented on the basis of type, application, and region. Based on type, the market has been categorised into styrene butadiene rubber, ethylene propylene diene monomer, polybutadiene rubber, nitrile butadiene rubber, butyl rubber, ethylene propylene diene monomer and others. In 2021, the SBR dominated the market since it is widely used in automobile & truck tires and manufacturing of carpets globally and the SBR is also expected to dominate the market during the forecast period as well. Based on application, the market has been categorised into tire, non-tire, industrial, footwear and others. In 2021, the tire segment dominated the market and is expected to maintain its dominance over the next five years as well owing to growing automotive industry and growing demand from tire industry due to its various feature for tires like grip control, safety, high fuel efficiency, weather resistance and comfort. APAC region dominated the market in 2021, and is expected to grow at a highest CAGR during the forecast period owing to growing automobile production & sales.
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Some of the leading players in the global synthetic rubber market are Sinopec, The Goodyear Tire and Rubber Company, JSR Corporation, Versalis S.p.A., ZEON Corporation, LANXESS, Kumho Petrochemical, TSRC Corporation, LG Chem, Nizhnekamskneftekhim, etc.
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Attribute
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Details
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Historic Data
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2017 – 2020
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Estimated Year
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2022
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Forecast Period
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2023 – 2027
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Quantitative Units
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Revenue in USD Million, Volume in Units, CAGR for
2017-2021 and 2022-2027
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Report coverage
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Revenue Forecast, Volume Forecast, Company
Share, Competitive Landscape, Growth Factors, And Trends
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Segments covered
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By Type
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By Application
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Region scope
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Asia Pacific; Europe & CIS; North
America; South America; Middle East & Africa
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Country scope
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China, India, Japan, South Korea, Australia, Singapore,
Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico,
Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar
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Key companies profiled
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Sinopec, The Goodyear Tire and Rubber
Company, JSR Corporation, Versalis S.p.A., ZEON Corporation, LANXESS, Kumho
Petrochemical, TSRC Corporation, LG Chem, Nizhnekamskneftekhim
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Customization scope
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10% free report customization with purchase.
Addition or alteration to regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to
meet your exact research needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email (We can also provide the
editable version of the report in PPT/Word format on special request)
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