Synthetic Rubber Market Expected to Garner $45.72 Billion by 2020 at a CAGR of 4.6% | Nova Chemicals Corporation, Mitsubishi Chemical Corporation, SABIC, etc.

The Global Synthetic Rubber Market is expected to reach USD 45.72 Billion by 2027, according to a new report by Reports and Data. The growth of the market is attributed to the increasing end-use applications of synthetic rubber.

Increasing demand of synthetic rubber for tire production is one of the significant factors influencing the market growth. The benefits of synthetic rubber comprises exceptional abrasion resistance and adhesion to metals, thereby making it suitable in making of seals, gaskets, and other products. Also, synthetic rubber provides optimum performance in harsh temperatures owing to better heat resistance quality.

Some leading players profiled in the report are:- DuPont, Eastman Chemical Company, INEOS, ExxonMobil Corporation, Chevron Phillips Chemical Company, Nova Chemicals Corporation, Mitsubishi Chemical Corporation, SABIC, Sinopec, and Goodyear, among others.

It has been found that tires manufactured from synthetic rubber lose around 30.0% less mass as compared to tires produced from natural rubber. Moreover, the advancement in production technology has transformed the automobile industry, which is expected to experience increased sales in the upcoming years, thus creating an increase in the demand for tires, and in turn, would drive the growth of the market.

Ask for Sample Report at: https://www.reportsanddata.com/sample-enquiry-form/2824

Growing demand for synthetic rubber from the footwear industry is fuelling the market demand. The footwear industry using a wide variety of materials that are used to make footwear ranging from casual footwear to technical products, including protective and safety footwear. Synthetic rubber possesses several superior physical characteristics appropriate for producing shoe sole; specifically, abrasion resistance, durability, tensile resistance, slip resistance, tear strength resistance, oil resistance, and the capacity to be molded in different shades.

For the purpose of this report, Reports and Data have segmented the global synthetic rubber market on the basis of product type, application, distribution channel, and region:

Product Type Outlook (Volume, Kilo Tons; 2020-2027 and Revenue, USD Million; 2020-2027)
• Styrene-Butadiene Rubber
• Ethylene Propylenediene Rubber
• Polyisoprene
• Polybutadiene Rubber
• Others

Application Outlook (Volume, Kilo Tons; 2020-2027 and Revenue, USD Million; 2020-2027)
• Automotive
• Footwear
• Industrial Goods
• Others

Distribution Channel Outlook (Volume, Kilo Tons; 2020-2027 and Revenue, USD Million; 2020-2027)
• Online
• Offline

Regional Outlook (Volume, Kilo Tons; 2020-2027 and Revenue, USD Million; 2020-2027)
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

Download Summary @ https://www.reportsanddata.com/download-summary-form/2824

Further key findings from the report suggest:
By product type, styrene-butadiene rubber contributed to the largest market share in 2020. Styrene-butadiene rubber polymer substitutes natural rubber because it is more environmental friendly and provides various benefits. For example, this product type provides crack endurance, exceptional abrasion resistance, and usually ages well. Furthermore, it offers excellent water resistance and compression set resistance.

By application, footwear application is estimated to grow at a rate of 3.7% in the forecast period.

By distribution channel, the online distribution channel is projected to grow at a faster rate of 7.1% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.

The market in the Asia Pacific region dominated the market in 2019 and is projected to grow at a rate of 5.4% in the forecast period. The market dominance of the APAC region is attributed to the rapid urbanization, rise in the level of disposable income, and growth of the end-use industries, particularly the automotive and footwear industry.

The research offers an evaluation of leading players operating in the Global Synthetic Rubber Market. It also provides a summary and sheds light on the current competitive scenario in the market. This research report gives an exhaustive study to the investors and stakeholders engaged in the Synthetic Rubber market. Moreover, the report offers key information about buyers, suppliers, and manufacturers in the market. It also includes a comprehensive analysis of production, consumption, market share, and growth rate of each application assessed in the report.

This study highlights the current scenario of the Global Synthetic Rubber Market, market forecast, growth opportunities, key market segments, and emerging players. The study aims to analyze the Synthetic Rubber growth in the key regions. In order to offer valuable insights relating to the key factors of the market, the report assesses the market segments included in the study extensively. Emerging market players are attempting to establish their presence in the market. Strategic alliances will potentially change the existing industry dynamics.

Table of contents:

Chapter 1 analyzes the Synthetic Rubber Introduction, product offerings, and scope, complete market overview, growth opportunities, market risks, driving forces, and others.

Chapter 2 presents a detailed study of the key manufacturers of Synthetic Rubber, along with sales, revenue, and the price of Synthetic Rubber.

Chapter 3 includes the competitive scenario among the major manufacturers and vendors.

Chapter 4 studies the global Synthetic Rubber market by regions, clubbed with sales, revenue, and market share of Synthetic Rubber, for each region from 2016 to 2026.

Chapters 5, 6, 7, 8 and 9, study the market by region, by type, by application, and by manufacturers, with the sales, revenue, and market share included based on key countries in these regions.

Browse the Full Report @ https://www.reportsanddata.com/report-detail/synthetic-rubber-market

The Synthetic Rubber Market report is updated with the latest economic scenario with the value, drivers, constraints, demand and supply ratio, production capacity, import/export status, growth rate, and others. Additionally, the report also undertakes SWOT Analysis and Porter’s Five Forces Analysis to assess the leading companies.

Thank you for reading our report. For further details or to inquire about customization, please let us know and we will offer you the report as per your needs.

Contact Us:

John Watson
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
th floor.

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

This release was published on openPR.