Synthetic Rubber Market to increase by USD 12.76 billion from 2022 to 2027 | Asahi Kasei Corp., Bridgestone Corp., China Petrochemical Corp. among key companies- Technavio

NEW YORK, Oct. 4, 2023 /PRNewswire/ -- The synthetic rubber market size is expected to grow by USD 12.76 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of  5.67% during the forecast period, according to Technavio. Increasing demand for tires from rising sales of electric vehicles is notably driving the synthetic rubber market. However, factors such as the replacement of rubber by polyurethanes in some applications may impede market growth. The market is segmented by Type (Solid and Liquid), Application (Tire, Automotive components, Footwear, Industrial goods, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa). We provide a detailed analysis of 20 companies operating in the synthetic rubber market including Asahi Kasei Corp., Bridgestone Corp., China Petrochemical Corp., Dow Chemical Co., Eni SpA, Exxon Mobil Corp., JSR Corp., Lanxess AG, LG Electronics Inc., Michelin Group, Saudi Arabian Oil Co., Saudi Basic Industries Corp., Southland Holdings Inc., Sri Trang Agro-Industry Plc, Sumitomo Chemical Co. Ltd., Synthos SA, Ube Corp., Von Bundit Co. Ltd., Kumho Tire Co. Inc., and Reliance Industries Ltd. The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request Free Sample Report.

Synthetic Rubber Market 2023-2027: Company Analysis

• Von Bundit Co. Ltd.: The company offers synthetic rubber such as Emulsion styrene butadiene rubber for the manufacture of tires and technical rubber goods, such as conveyor belts, cables, industrial hoses, and anti-vibration parts for the automotive industry.

This report provides a full list of key companies, their strategies, and the latest developments. Buy Now for detailed company information

Synthetic Rubber Market 2023-2027: Segmentation

• The solid segment is estimated to witness significant growth during the forecast period. Economic growth and increased manufacturing and industrial activities typically result in a heightened demand for solid synthetic rubber. This versatile material finds extensive use in various industries, including automotive, construction, electronics, manufacturing, and consumer goods. Key industry players like Exxon Mobil provide products like butyl rubber and halo butyl rubber, which are essential for applications such as seals and gaskets, where robust resistance to moisture, heat, and chemicals is crucial. Given the broad spectrum of products employed across diverse industries, this segment is anticipated to be a major catalyst for the growth of the global synthetic rubber market during the forecast period. 
• APAC is estimated to contribute 50% to the growth of the global market during the forecast period. The synthetic rubber market in the APAC region is experiencing substantial growth due to significant investments made by car manufacturers in countries like South Korea, Japan, China, and India. Additionally, Western manufacturers are establishing production facilities in emerging economies within the region, particularly in India and China. This trend is being driven by infrastructure and construction development in the APAC region, with China's emergence as a global manufacturing hub playing a pivotal role in increasing synthetic rubber consumption. Numerous market participants have made substantial investments to meet the demands of various end-user sectors, including automotive, construction, textiles, and footwear. The rapid expansion of the footwear and construction industries in the APAC region further contributes to the overall growth of the synthetic rubber market in this area. Consequently, these factors are poised to be the driving forces behind market growth in the APAC throughout the forecast period.

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View Free PDF Sample Report

Synthetic Rubber Market 2023-2027: Key Highlights

• Historic Market Size 2017-2021
• CAGR of the market during 2023-2027
• Detailed information on factors that will assist synthetic rubber market growth during the next five years
• Estimation of the synthetic rubber market and its contribution to the parent market
• Forecasts on upcoming trends and changes in consumer behavior
• The growth of the synthetic rubber market
• Analysis of the competitive landscape and detailed information on companies
• Comprehensive details of factors that will impede the growth of synthetic rubber market companies

Related Reports:

The liquid synthetic rubber market size is estimated to grow at a CAGR of 4.36% between 2022 and 2027. The market size is forecast to increase by USD 5,184.78 million.

The polyisoprene rubber market share is expected to increase to USD 172.54 million from 2021 to 2026, at a CAGR of 6.7%.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type 

Market Segmentation by Application 

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio