Synthetic Rubber Market Continues to Experience Strong Growth With A CAGR Of 4.7%

The global synthetic rubber market size was valued at USD 28.89 billion in 2021 and is projected to grow from USD 29.83 billion in 2023 to USD 41.71 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period.



Market scope and overview:

· This research report provides an in-depth analysis of the Global Synthetic Rubber Market from 2023 to 2030.

· The report covers various types of synthetic rubber, including Styrene Butadiene Rubber, Ethylene Propylenediene Rubber, Polyisoprene, Polybutadiene Rubber, and others, along with different applications such as tire and tire components, non-tire automobile applications, footwear, industrial goods, and others.


· The report includes key statistics on the state of the industry, helping companies and individuals interested in the market to make informed decisions and develop effective growth strategies.

· The report also provides a list of key players in the market, including Exxon Mobil Corporation, TSRC, Goodyear, INEOS, Chevron Phillips Chemical Company, SABIC, DuPont de Nemours, Inc., LyondellBasell Industries Holdings BV, Eastman Chemical Company, Mitsubishi Chemical Corporation (MCC), Sinopec, Kumho Petrochemical, Saudi Aramco, Hexion, and Nova Chemicals Corporation.


· The report analyzes the impact of COVID-19 on the global Synthetic Rubber market and provides recommendations to companies in the industry on how to deal with the pandemic's impact.

· The report also provides a detailed analysis of the leading 20 countries in the market, along with a strategic analysis of the impact of COVID-19 on the industry.


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Market segmentation:

Key Companies Profile in the Report:
Lanxess
Sinopec
Goodyear
Kumho Petrochemical
TSRC
NKNK
JSR
LG Chem
Versalis
Zeon

By Type:
Styrene Butadiene Rubber (SBR)
Polybutadiene Rubber (BR)
Styrenic Block Copolymer (SBC)
Ethylene Propylene Diene Monomer (EPDM)
Butyl Rubber (IIR)

By Application:
Tire
Non-Tire Automotive
Footwear
Industrial




Premium Insights:

· There is Growing Demand for Tire Applications to Drive Market

· SBR Segment and China Accounted for the Largest Shares

· Saudi Arabia to Register Highest CAGR




Case studies:

1. Bridgestone Corporation: The company is one of the largest tire manufacturers in the world and uses synthetic rubber as a key component in its tire production. Bridgestone has invested in research and development to improve the performance of its tires, which has resulted in the use of advanced synthetic rubber compounds.

2. Dow Chemical Company: Dow Chemical is a major player in the synthetic rubber market and produces various types of synthetic rubber, including butadiene rubber, styrene-butadiene rubber, and nitrile rubber. The company has collaborated with various players in the automotive industry to develop high-performance tires and other products.

3. ExxonMobil Chemical: ExxonMobil Chemical produces a range of synthetic rubber products, including butyl rubber and halo butyl rubber, which are used in various industries such as automotive, construction, and healthcare. The company has invested in research and development to develop new products and improve the performance of existing products.



Growth of related markets:

· The South American synthetic rubber market was worth US$ 1,365.45 million in 2022 and is expected to reach US$ 1,896.50 million by 2031 at a CAGR of 4.15% during the forecast period.

· The global industrial rubber market size is expected to grow from $39.29 billion in 2022 to $42 billion in 2023 at a compound annual growth rate (CAGR) of 6.92%.

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Key Indicators Analyzed:

· Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2015-2022 & Sales by Product Types.

· Global and Regional Market Analysis: The report includes Global & Regional market status and outlook for 2021-2030. Further, the report provides breakdown details about each region & country covered in the report. Identifying its production, consumption, import & export, sales volume & revenue forecast.


· Market Analysis by Product Type: The report covers the majority of Product Types in the Synthetic Rubber Industry, including its product specifications by each key player, volume, sales by Volume, and Value (M USD).

· Market Analysis by Application Type: Based on the Synthetic Rubber Industry and its applications, the market is further sub-segmented into several major Applications of its industry. It provides you with the market size, CAGR & forecast by each industry application.


· Market Trends: Market key trends include Increased Competition and Continuous Innovations.

· Opportunities and Drivers: Identifying the Growing Demands and New Technology.


· Porter's Five Force Analysis: The report will provide the state of competition in an industry that depends on five basic forces: the threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.




Points Covered in The Report:

> The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.

> The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analyzed 12 years of data history and forecast.

> The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.

> Data and information by market player, region, type, application and etc, and custom research can be added according to specific requirements.

> The report contains a SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.




Key Reasons to Purchase:

> To gain insightful analyses of the market and have a comprehensive understanding of the global market and its commercial landscape.

> Assess the production processes, major issues, and solutions to mitigate the development risk.
> To comprehend the industry's most important driving and restraining forces and their influence on the global market.

> Learn about the market strategies the most successful companies use in their fields.

> To understand the future outlook and prospects for the market.

Besides the standard structure reports, we also provide custom research according to specific requirements.

The report focuses on the Global, Top 10 Regions, and Top 50 Countries' Market Size of Synthetic Rubber 2015-2022, and development forecast for 2021-2030 including industries, major players/suppliers worldwide, and market share by regions, with company and product introduction, position in the market including their market status and development trend by types and applications which will provide its price and profit status, and marketing status & market growth drivers and challenges, with the base year as 2021.

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This release was published on openPR.