Synthetic Rubber Market to Exceed US$ 45 Billion by 2023

New York, January 12: Market Research Engine has published a new report titled as “Synthetic Rubber Market by Product Type (Nitrile Butadiene Rubber, Ethylenean Propylene, Polybutadiene, Styrene Butadiene Rubber), by End-Users and by Geography - Global Industry Analysis and Forecast 2015 - 2023”

How Big is the Global Synthetic Rubber Market?

The global synthetic rubber market is expected to exceed more than US$ 45 Billion by 2023; Growing at a CAGR of more than 5% in the given forecast period.

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Synthetic rubber is any of various products which include nitrile rubber, butyl rubber, neoprene and GR-S. These resemble natural rubber more closely or less closely particular in physical properties. And having skill to be processed that is created typically by polymerization of butadiene, isoprene and related unsaturated hydrocarbons. It also has property of copolymerization of such hydrocarbons with acrylonitrile, isobutylene, styrene or other polymerizable compounds. These have uses similar to that of natural rubber however are superior for few applications and inferior for others and are usually utilized in combination with natural rubber.

The major driving factors of synthetic rubber market are as follows:

Growing demand in automotive industry expected to drive synthetic rubber market.
Rising footwear market likely to drive global synthetic rubber market.

The restraining factors of synthetic rubber market are as follows:

Oversupply due to consistent capability additions projected to restrain the growth of synthetic rubber market.
Growing replacement of synthetic rubber by natural rubber.

Browse Full Report: https://www.marketresearchengine.com/reportdetails/synthetic-rubber-market-report

The synthetic rubber market is segmented on the lines of its product segment, end user and regional. Based on product segmentation it covers nitrile butadiene rubber (NBR), ethylenean propylene (EPDM), polybutadiene (BR), styrene butadiene rubber (SBR) and others. Under end user segmentation the synthetic rubber market covers footwear, industrial goods, tires and others such as adhesives, asphalt overlay, etc. The synthetic rubber marketis geographic segmentation covers various regions such as North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Each geographic market is further segmented to provide market revenue for select countries such as the U.S., Canada, U.K. Germany, China, Japan, India, Brazil, and GCC countries.

This report provides:

1) An overview of the global market for synthetic rubber and related technologies.

2) Analyses of global market trends, with data from 2013, estimates for 2014 and 2015, and projections of compound annual growth rates (CAGRs) through 2023.

3) Identifications of new market opportunities and targeted promotional plans for synthetic rubber.

4) Discussion of research and development, and the demand for new products and new applications.

5) Comprehensive company profiles of major players in the industry.

REPORT SCOPE:

The scope of the report includes a detailed study of global and regional markets for synthetic rubber with the reasons given for variations in the growth of the industry in certain regions.

The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global market. Key players profiled in the report include LANXESS AG, China Petroleum & Chemical Corporation (Sinopec Corporation), China National Petroleum Corporation (CNPC), KUMHO PETROCHEMICAL, TSRC Corporation, Asahi Kasei Corporation DuPont, Dynasol Elastomers, Sumitomo Chemical Co., Ltd., , Exxon Mobil Corporation (ExxonMobil),The Dow Chemical Company, and Versalis S.p.A. Company profile includes assign such as company summary, financial summary,business strategy and planning, SWOT analysis and current developments.

The Top Companies Report is intended to provide our buyers with a snapshot of the industry’s most influential players.

The Synthetic Rubber Market has been segmented as below:

By Product Segment Analysis

Nitrile butadiene rubber (NBR)
Ethylenean propylene (EPDM)
Polybutadiene (BR)
Styrene butadiene rubber (SBR)
Others

By End-user Analysis

Footwear
Industrial goods
Tires
Others (adhesives, asphalt overlay, etc)

By Regional Analysis

North America
Europe
Asia-Pacific
Rest of the World

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This release was published on openPR.