Rising Road Traction of Automobiles Boosts Synthetic Rubber Industry Growth

There are various types of synthetic rubbers such as Buna rubbers, neoprene, and butyl rubbers. These synthetic rubbers posses specific properties for various specialist applications. The butadiene rubber, and styrene-butadiene rubber are widely used for tire manufacturing. Butyle rubber is massivel used for inner tubes due to gas-impermeability.

Nitrile rubber is a synthetic rubber. It's manufacturing involves the acrylonitrile polymerization with the butadiene. It is also known as acrylonitrile-butadiene rubber, nitrile-butadiene rubber, and acrylonitrile rubber. It possess high tensile strength, poorer cold flexibility, and high compression set on acrylonitrile content.

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It offers high resistivity to oils and fuels, and utilized in packaging, oil seals, blankets and diaphragms. NBR is utilized in a wide variety of applications. Therefore, high flame resistance holds a great importance.

The synthetic rubber industry is projected to rise in the coming years, ascribed to the surging automotive tire replacement, the increasing requirement for long-lasting rubber, the advancing production capacity of rubber manufacturers with growing capital investment, and the expansion of the automotive industry.

In addition, the government initiatives, surging disposable income, and rising industrialization boost the industry growth.

The companies operating in the industry are participating in partnerships and acquisitions to enhanceto portfolio and expand their consumerbase. For instance, Cooper Tire & Rubber Company was acquired by the The Goodyear Tire & Rubber Company, in February 2021.

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Under the product type segment, styrene-butadiene rubber captures the largest industry share, and it is projected to experience the higher growth in the coming years. It is ascribed to low-cost of styrene-butadiene rubber, and its strong abrasion resistance, that makes it suitable for operations of various sectors such as footwear, healthcare, building and construction.

Under the application segment, the tire category dominates the industry, and it is projected to experience the fastest growth in the coming years. It is ascribed to surging demand for replacement tires, led by surging sales of two-wheeled and four-wheeled vehicles.

APAC captures the largest share of the synthetic rubber industry, in terms of both value, and volume. It is led by surging demand for synthetic rubber in the tire and construction industries. In
addition, automobile manufacturers are continuing to invest in the APAC countries to set-up production facilities, to improve their position in the industry.

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