Synthetic Rubber Market to Witness Huge Growth by Key Players: Sinopec, DuPont, The Dow Chemical Company, ExxonMobil, Kumho Petrochemical Company Ltd, Trinseo, Zeon Corporation and more.

According to Market Study Report, Synthetic Rubber Market provides a comprehensive analysis of the Synthetic Rubber Market segments, including their dynamics, size, growth, regulatory requirements, competitive landscape and emerging opportunities of global industry. This report also provides market landscape and market share information in the Synthetic Rubber Market.
An exclusive data offered in this report is collected by research and industry experts team.

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The global synthetic rubber market size is estimated to be USD 19.1 billion in 2021 and is projected to reach USD 23.2 billion by 2026, at a CAGR of 4.0% between 2021 and 2026. This report spread across 200 pages, profiling 17 companies and supported with 169 tables and 66 figures are now available in this research.

Top Key Players Profiled in the Synthetic Rubber Market:
• Sinopec (China)
• DuPont (U.S)
• The Dow Chemical Company (U.S)
• ExxonMobil (U.S)
• Kumho Petrochemical Company Ltd (South Korea)
• Trinseo (U.S)
• Zeon Corporation (Japan)
• Nizhnekamskneftekhim (Russia)
• The Goodyear Tire and Rubber Company (U.S)
• SIBUR (Russia)
• Mitsui Chemical Inc. (Japan)
• LG Chemical (South Korea)
• LANXESS (Germany)
• JSR Corporation (Japan)
• SABIC (Saudi Arabia)
• Denka Company Ltd. (Japan)
• Asahi Kasei Corporation (Japan)

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Synthetic rubber is manufactured by the polymerization of monomers. Typically, styrene and butadiene are polymerized to produce Styrene-Butadiene Rubber (SBR) and Polybutadiene Rubber (BR). Subsequent developments have introduced other monomers such as ethylene and propylene, which are used in the production of EPDM. The synthetic rubber market is driven by the demand from the tire industry.

“Tire: the largest application of synthetic rubber market.”
Tire is the largest application in the synthetic rubber market. Synthetic rubber offers various extraordinary features to tires, such as safety, control, grip, and comfort. Likewise, it provides the tire with various other features, such as directional stability, rolling resistance, wet traction, puncture resistance, steering response, speed and run-flat capability, impact resistance, high fuel efficiency, and weather resistance, to function in challenging conditions.

“APAC is estimated to be the fastest-growing market for synthetic rubber market.”
APAC accounted for the largest share in terms of volume and value of the synthetic rubber market in 2020, followed by Europe and North America. The use of synthetic rubber is expected to witness the highest growth in the APAC region during the forecast period. The market in this region is driven by the recovery of the automotive sector in China and Southeast Asian countries. Global automobile manufacturers are investing in APAC countries to establish their production plants to enhance their market presence in the region.

“Synthetic rubber market declined in 2020.”
The synthetic rubber market in 2020 declined by 11.2%, in terms of volume, compared to 2019 due to the COVID-19 pandemic. The automotive industry is a significant consumer of synthetic rubber. The effect of COVID-19 on the automotive industry led to declining car sales and the layoff of employees.

Breakdown of primary participants’ profile:
• By Company Type - Tier 1 – 25%, Tier 2 – 42%, and Tier 3 – 33%
• By Designation – C level – 20%, Director level – 30%, and Others* – 50%
• By Region – North America– 40%, Europe – 10%, APAC – 20%, South America– 10%, and Middle East & Africa- 20%

Competitive Landscape of Synthetic Rubber Market:
1 Introduction
2 Market Share Analysis
3 Market Evaluation Framework
4 Competitive Scenario
5 Revenue Analysis Of Top Players

Research Coverage:
This research report categorizes the synthetic rubber market on the basis of type, application and region. The report includes detailed information regarding the major factors influencing the growth of the synthetic rubber market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, new product developments, agreements, and recent developments associated with the market.

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