Synthetic Rubber Market: Price Volatility of Natural Rubber owing to Lack of Raw Material to Boost Demand for Synthetic Rubber

Albany, New York: Market Research Reports Search Engine (MRRSE) has announced the addition of a new report, titled “ Synthetic Rubber (SBR, BR, EPDM, NBR, and Others) Market for Tires, Industrial Goods, Footwear, and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023 .” The report, by Transparency Market Research, forecasts that the global synthetic rubber market was estimated at US$29,121.2 million in 2014 and is predicted to reach US$45,767.1 million by 2023, growing at a CAGR of 5.1% between 2015 and 2023.

The report presents the estimated size of the synthetic rubber market for 2015 and provides forecast for the coming eight years. This report forecasts and evaluates the synthetic rubber market at both the regional as well as the global level. The estimate of the market is presented in terms of both revenue and volume during the forecast horizon. At the start of the report, evaluation of the value chain is presented, thus providing an extensive view of the market for synthetic rubber. The report combines aspects such as the evaluation of the market attractiveness, encompassing the benchmarking of the end users on the basis of their growth rate, general attractiveness, and market size.

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The report includes information on market dynamics such as restraints, drivers, opportunities, and trends prevalent in the global market for synthetic rubber. The report states that synthetic rubbers are extensively utilized as an alternative to natural rubbers due to price volatility of natural rubber because of lack of raw material. The report provides a meticulous view on the market for synthetic rubber by providing segmentation on the basis of end users and products. In terms of products, the synthetic rubber market is segmented into nitrile butadiene rubber (NBR), styrene butadiene rubber (SBR), ethylene propylene (EPDM), polybutadiene (BR), and others. The report states that among these product segments, in 2014, styrene butadiene rubber emerged as the biggest product segment in the synthetic rubber market and represented a share of over 30% in the market.

The regional segmentation presents the future and present demand in Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa. Amongst these, on the basis of region, in 2014, Asia Pacific was the biggest segment of the global market for synthetic rubbers owing to increasing demand for tires from the automotive industry. On the basis of volume, Asia Pacific represented a share of over 50% in the market.

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The report also studies the prominent companies dominant in the global market for synthetic rubber. China Petroleum & Chemical Corporation (Sinopec Corporation), LANXESS AG, China National Petroleum Corporation (CNPC), TSRC Corporation, KUMHO PETROCHEMICAL, Asahi Kasei Corporation, DuPont, Dynasol Elastomers, The Dow Chemical Company, Sumitomo Chemical Co., Ltd., Versalis S.p.A., and ExxonMobil Corporation (ExxonMobil) are amongst the key companies operating in this market.

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