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key properties of liquid synthetic rubber market that have incited its adoption

Liquid Synthetic Rubber Market

Liquid Synthetic Rubber Market

Liquid synthetic rubber is a liquid polyurethane casting compound that shows excellent properties for tooling applications. It has exceptional flow properties and is resistant to tear and wear. Given to these beneficial characteristics, liquid synthetic rubber is used on moldings, casting, ducting, rollers, damaged rubber, bins, fixtures, gaskets, expansion joints, mountings & blocks, noise reduction, linings, and conveyor belting.

Based on application, the liquid synthetic rubber market is divided into tire manufacturing, adhesive, polymer modification, industrial rubber manufacturing, and others. Of these, the polymer modification segment is anticipated to record a CAGR of 2.5% in the upcoming years owing to increasing research & development expenditure and robust material experimentation from large firms.

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According to Global Market Insights, Inc., the Latin America (LATAM) liquid synthetic rubber market is expected to witness a CAGR of 3% over the forecast period owing to surging automotive sales. Mexico has become an important destination for investments from all types of manufacturers, mainly from suppliers and automakers, as they can rely on a local labor pool of trained engineers, given to the improved educational system.
Moreover, the number of strategic and financial advantages for parts manufacturers and suppliers is growing and hence is raising Mexico’s position as one of the major players in the global automotive industry. This is likely to increase the deployment of liquid synthetic rubber in the region.

Liquid synthetic rubber also finds immense usage in a number of end-user industries such as building & construction, paints & coatings and electronics. Polymer modification is witnessing heavy demand from the chemical industry which could further propel the adoption of LSR products. Synthetic rubber is preferred over natural rubber by various businesses owing to volatile prices of natural rubber, political tensions that restrict trade between customers and suppliers, regional constraints pertaining to the cultivation of rubber plants and long transport distances.

As a result, the market is shifting towards synthetic rubbers to meet rising demand. Synthetic rubber properties are generally similar to their natural counterpart. Based on such aspects, Global Market Insights, Inc., estimates that the liquid synthetic rubber market might hit USD 12 billion by the year 2026.

Browse complete summary of this research report @ https://www.gminsights.com/industry-analysis/liquid-synthetic-rubber-market

On a regional front, North America is considered to be a promising market for liquid synthetic rubber manufacturers and is expected to register a CAGR of more than 4.5% by the end of 2026. Several tire manufacturers are building their production facilities in the U.S. close to their target customers. Such trends when coupled with positive financial support could massively benefit the adoption of LSR products.

The demand for synthetic rubber has increased at an unprecedented rate due to the pandemic. Numerous manufactures are working towards expanding product count for synthetic rubber gloves amidst hospitals reporting critically low supplies in that domain. As WHO announced a global shortage of personal protective equipment, companies are now trying to manufacture more by adding new machines but are still having to face a delivery lag which is leading to inventory shortages in hospitals and other places.

On a global standpoint, companies like Asahi Kasei Corporation, Evonik Industries, Kuray Co., Synthomer PLC, Nippon Soda Co, HB Fuller, and Efremov Synthetic Rubber are leading the industry landscape by implementing lucrative business strategies like collaborations and product innovations.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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