Liquid Synthetic Rubber Market to Garner $28.8 Billion, Globally, By 2027 at 4.5% CAGR, Says Allied Market Research

PORTLAND, Ore., May 26, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Liquid Synthetic Rubber Market by Product (Liquid Isoprene Rubber, Liquid Butadiene Rubber, Liquid Styrene Butadiene Rubber, and Others) and Application (Adhesives, Industrial Rubber, Tyre Manufacturing, Polymer Modification, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". As per the report, the global liquid synthetic rubber industry was pegged at $20.3 billion in 2019, and is projected to reach $28.8 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027.

Drivers, restraints, and opportunities

Increase in use of liquid synthetic rubber across the adhesive industry and rise in tyre production across the globe have boosted the growth of the global liquid synthetic rubber market. However, fluctuating raw material prices hinder the market growth. On the contrary, surge in product penetration in industrial rubber manufacturing is expected to open lucrative opportunities for the market players in the future.

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Covid-19 scenario:

• The Covid-19 outbreak resulted in partial or complete closure of production facilities. Moreover, the prolonged lockdown led to a shortage of liquid synthetic rubbers.
• On the other hand, the demand for tyres, automotive parts, and new construction has declined across the globe, which hampered the market growth.
• The lockdown across the countries and ban on international travel resulted in a gap in supply and demand. The lack of raw material hampered the production rate of liquid synthetic rubber.

The liquid styrene butadiene rubber segment dominated the market

By resin type, the liquid styrene butadiene rubber segment held the lion's share in 2019, accounting for more than two-fifths of the global liquid synthetic rubber market, due to rise in focus on durability and performance of tyres along with the adoption of tyre labeling regulations. However, the liquid isoprene rubber segment is projected to register the highest CAGR of 6.3% during the forecast period, as rise in infrastructure development and construction activities across developing countries such as India and China.

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The adhesives segment to manifest the highest CAGR through 2027

By application, the adhesives segment is estimated to showcase the highest CAGR of 5.0% during the forecast period, owing to growing construction industry across developing countries such as China and India that has led to surge in demand for adhesives. However, the tyre manufacturing segment held the largest share in 2019, contributing to more than two-fifths of the global liquid synthetic rubber market, due to presence of major tyre manufacturing companies in China, Japan, and India due to abundant availability of raw materials, low manufacturing cost, and wide scope of application industries.

Asia-Pacific, followed by Europe and North America, to register the highest CAGR by 2027

By region, the market across Asia-Pacific, followed by Europe and North America, is estimated to register the highest CAGR of 4.8% during the forecast period. In addition, the region dominated in 2019, accounting for nearly three-fifths of the global liquid synthetic rubber market, due to rapid development of the manufacturing and construction sector across China, India, and Japan.

Key Market Players

• H.B. Fuller
• Evonik Industries
• Asahi Kasei Corporation
• Synthomer PLC
• Efremov Synthetic Rubber Kuraray Co., Ltd.
• Nippon Soda Co., Ltd.
• Saudi Aramco
• Puyang Linshi Chemical New Material Co., Ltd.
• Sibur International GmbH

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