Synthetic Rubber Market Size Will Exceed US$ 38.51 Billion by 2027: IMARC Group

IMARC Group has recently released a new research study titled "Synthetic Rubber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global synthetic rubber market reached a value of US$ 30.64 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 38.51 Billion by 2027, exhibiting a CAGR of 3.70% during 2022-2027.

Synthetic rubber refers to a man-made artificial polymer that resembles natural rubber in certain physical properties. It is manufactured primarily by polymerizing butadiene and isoprene or by copolymerizing hydrocarbons with styrene and acrylonitrile. It is commercially available in various rubbers, such as neoprene, ethylene propylene diene monomer (EPDM), styrene-butadiene rubber (SBR), butyl rubber, silicone, and Bune N Rubber. It offers excellent temperature and chemical resistance and is also resistant to ozone and sunlight. It is an efficient electrical insulator and offers better flexibility at lower temperatures as compared to natural rubber. Furthermore, as synthetic rubber can undergo extreme elastic deformation and still return to its original shape, its demand is increasing around the world.

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Synthetic Rubber Market Trends and Drivers:

At present, the increasing demand for synthetic rubber in the automotive industry to manufacture a wide variety of automotive parts, such as tires, doors, gaskets, and safety belts, represents one of the key factors supporting the growth of the market.

Besides this, the rising adoption of sustainable measures in the production process of synthetic rubber to reduce the carbon footprint is prolling the growth of the market. In addition, the growing employment of synthetic rubber in electrical devices to improve insulation is offering a favorable market outlook.

Apart from this, the increasing demand for synthetic rubber in the apparel industry to manufacture high-quality and water-resistant footwear is contributing to the growth of the market.

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Global Synthetic Rubber Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Apcotex Industries Limited, Asahi Kasei Corporation, China Petrochemical Corporation, Denka Company Limited, Exxon Mobil Corporation, JSR Corporation, Kumho Petrochemical Co. Ltd., Lanxess AG, LG Chem Ltd., PJSC Nizhnekamskneftekhim, Reliance Industries Limited, Saudi Basic Industries Corporation (Saudi Arabian Oil Co.), The Goodyear Tire & Rubber Company, TSRC Corporation and Zeon Corporation.

The report has segmented the market on the basis of region, type, distribution channel and application.

Breakup by Type:
• Styrene Butadiene Rubber
• Ethylene Propylene Diene Rubber
• Polyisoprene
• Polybutadiene Rubber
• Isobutylene Isoprene Rubber
• Others

Breakup by Distribution Channel:
• Online
• Offline

Breakup by Application:
• Tire and Tire Component
• Non-Tire Automobile Application
• Footwear
• Industrial Goods
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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This release was published on openPR.