Synthetic Rubber Market expected to reach US$ 46.3 billion by 2030 - Business Market Insights

The market crossed US$ 31.1 billion mark in 2022 and is expected to hit US$ 46.3 billion by 2030, recording a CAGR of 5.1% during the forecast period.

Synthetic rubber materials are extensively used in the manufacturing of abrasive and temperature resistive tire & tire components. Therefore, rising synthetic rubber's demand in automobile industry is expected to drive the market growth. In addition, increasing anti-slip property-based rubber materials for the production of flooring mats and bicycle paddles is likely to favor the material's demand globally. Furthermore, technological advancements in the development of abrasive resistance-property-based synthetic rubbers are anticipated to support in the future development of the synthetic rubber market.

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The report offers in-depth assessment of the growth and other aspects of the Synthetic Rubber Market in important regions. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2022 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

Major key players covered in this Synthetic Rubber Market report:
LyondellBasell Industries Holdings B.V.
Chevron Phillips Chemical Company
China Petroleum & Chemical Corporation
DuPont de Nemours, Inc.
Eastman Chemical Company

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Synthetic Rubber Market: Competitive Landscape
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, during the forecast period of 2022 to 2030.

In this report, the market has been segmented on the basis of:
Type:
Styrene Butadiene Rubber
Ethylene Propylene diene Rubber
Butyl Rubber
Nitrile Rubber
Others

Application:
Tire and Tire Component
Non-tire Automobile Application
Footwear
Industrial Goods
Others

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Leading market players and manufacturers are studied to help give a brief idea about them in the report. The challenges faced by them and the reasons they are on that position is explained to help make a well informed decision. Competitive landscape Synthetic Rubber Market is given presenting detailed insights into the company profiles, developments, merges, acquisitions, economic status and best SWOT analysis.

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