Liquid Synthetic Rubber Market Future Revenues to Take Flight as Market Size Continues to Expand

According to a report by Allied Market Research, the global market for liquid synthetic rubber was worth $20.3 billion in 2019 and is projected to reach $28.8 billion by 2027, growing at a CAGR of 4.5% from 2020 to 2027. The report offers a comprehensive analysis of the market, covering aspects such as changing market dynamics, key segments, value chain, investment opportunities, competitive landscape, and regional outlook.

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The increase in tire production worldwide and the growing use of liquid synthetic rubber in the adhesive industry are driving the market. However, fluctuations in raw material prices are acting as a barrier to market growth. On the positive side, the rising use of liquid synthetic rubber in industrial rubber manufacturing is expected to create new growth opportunities in the coming years.

The COVID-19 pandemic has had a significant impact on the market. Lockdowns and restrictions on manufacturing activities in the tire, adhesive, and automotive sectors led to a decrease in demand for liquid synthetic rubber. Disruptions in the supply chain, both locally and internationally, resulted in a gap between supply and demand. The report predicts that as manufacturing activities resume post-lockdown, demand for liquid synthetic rubber will gradually recover.

The report offers detailed segmentation of the market based on product type, application, and region. In 2019, liquid styrene butadiene rubber held the largest market share and is expected to continue its dominance during the forecast period. However, liquid isoprene rubber is expected to grow at the fastest rate.

In terms of application, the tire manufacturing segment held the largest share in 2019 and is projected to remain dominant in terms of revenue. The adhesives segment, however, is expected to grow at the fastest rate.

Geographically, Asia-Pacific held the largest share of the market in 2019 and is expected to continue its dominance. The region is also projected to have the highest growth rate.

The report also profiles key players in the market, including Evonik Industries, Synthomer PLC, H.B. Fuller, Kuraray Co., Ltd., Asahi Kasei Corporation, Saudi Aramco, Efremov Synthetic Rubber, Sibur International GmbH, Nippon Soda Co., Ltd., and Puyang Linshi Chemical New Material Co., Ltd.

Obtain Report Details: https://www.alliedmarketresearch.com/liquid-synthetic-rubber-market-A10357

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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