Synthetic Rubber Market Poised to Reach Approx. USD 42.9 Billion by 2030; Steady Growth from EVs, Industrial & Medical Applications

Introduction

The global synthetic rubber market, valued at around USD 34.8 billion in 2025, is projected to climb to USD 42.88 Billion by 2030, growing at a CAGR of 4.21% between 2025 & 2030. This report offers a clear view into how synthetic rubber demand is being shaped by electric vehicle (EV) adoption, industrial manufacturing, and healthcare needs.

The Asia-Pacific region leads in both volume and growth rate, driven by expanding automotive and production infrastructure

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Key Trends:

Electric Vehicle Boom Driving Specialized Grades

As EVs hit the mainstream, manufacturers are demanding rubber compounds that tackle the heavier battery load and the instant torque typical of electric motors. Solution-polymerized styrene-butadiene rubber (S-SBR) is gaining traction because it helps reduce rolling resistance and extend tire lifespan-essential for EV performance

Broadening Industrial Applications

Synthetic rubber is no longer just for tires. It's increasingly used in conveyor belts, hoses, and seals within renewable energy setups and heavy industries. Industrial applications are becoming the fastest-growing segment, reinforcing steady demand outside automotive sectors.

Growth in Healthcare Segments

Medical and consumer goods, especially gloves and other medical items, have shown strong upticks. The pandemic spotlighted the need for synthetic rubber in healthcare applications-demand that continues to support market volume.

Transition to Bio-Based Inputs

A shift toward bio-based feedstocks, such as isoprene derived from plant sources, is underway. Biobased isoprene is already ahead with an 8.4% CAGR forecast from 2025 to 2030, reflecting sustainability commitments from producers

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Market Segmentation

By Type

Styrene-Butadiene Rubber (SBR): Holds roughly 40% market share in 2024; derived from both emulsion and solution polymerization. SBR is the workhorse of the industry, balancing cost and performance

Ethylene Propylene Diene Monomer (EPDM): Projected to grow faster than SBR with 5.8% CAGR, driven by demand for weather-resistant electrical insulation and automotive components

By Manufacturing Process

Emulsion Polymerization: Dominates with 60% of revenue in 2024

Solution Polymerization: Gaining traction, particularly for high-performance polymers suited to EV tires, set to grow at ~5.5% CAGR

By Raw Material

Petroleum-derived butadiene: Accounts for around 50% of feedstock usage

Bio-based isoprene: Fastest-growing subsegment with ~8.4% CAGR, aligning with net-zero and green chemistry goals

By Application

Tires: Largest category at ~45% market share in 2024

Industrial Goods: Fastest-growing end use, with critical roles in hose systems, seals, and conveyor systems

Healthcare & Consumer Products: Includes medical gloves and other goods with rising demand trends.

By Region

Asia-Pacific: Holds about 57% global market share and grows at roughly 4.4% CAGR, driven by China, India, Japan, Korea, and Southeast Asia's manufacturing boom.

Europe & North America: Smaller in volume but notable for adoption of bio-based feedstocks, strict regulations, and higher demand for technical rubber variants

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Key Players:

The leather chemicals market is characterized by the presence of several global and regional manufacturers that focus on developing high-performance, cost-efficient, and environmentally compliant chemical solutions. These companies invest heavily in R&D to improve the safety and performance of leather treatment processes while reducing environmental impacts.

Lanxess AG: A leading global supplier known for its broad portfolio of leather chemicals, including chrome-free tanning agents and environmentally safe finishing products.

Stahl Holdings BV: Offers a wide range of specialty chemicals for leather processing, with a strong focus on sustainable and circular solutions.

Sisecam Group: Engages in the production of various chemicals, including those used in the tanning process.

TFL Ledertechnik GmbH: Provides system solutions for the treatment and finishing of leather, with emphasis on performance and sustainability.

Texapel: Focuses on beamhouse and finishing chemicals with a growing international presence.

These companies are continuously working to meet evolving regulatory requirements and customer demands for safer, more effective leather chemicals, particularly in environmentally sensitive markets like Europe and North America.

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Conclusion:

The leather chemicals market is witnessing stable growth, underpinned by the ongoing demand from end-user sectors such as footwear, automotive, and fashion, and reinforced by regulatory requirements for environmentally sound chemical processing. The shift to chrome-free tanning and the adoption of biodegradable chemicals present growth opportunities for players that can innovate and scale sustainable offerings.

Additionally, Asia-Pacific's dominant position as a manufacturing hub ensures a strong supply chain for leather production, further supporting market expansion. With a balanced mix of performance demands, regulatory shifts, and regional manufacturing strengths, the market is poised for consistent progress over the forecast period.

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About Mordor Intelligence:

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With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

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Mordor Intelligence is a trusted partner for businesses seeking comprehensive and actionable market intelligence. Our global reach, expert team, and tailored solutions empower organizations and individuals to make informed decisions, navigate complex markets, and achieve their strategic goals.

With a team of over 550 domain experts and on-ground specialists spanning 150+ countries, Mordor Intelligence possesses a unique understanding of the global business landscape. This expertise translates into comprehensive syndicated and custom research reports covering a wide spectrum of industries, including aerospace & defense, agriculture, animal nutrition and wellness, automation, automotive, chemicals & materials, consumer goods & services, electronics, energy & power, financial services, food & beverages, healthcare, hospitality & tourism, information & communications technology, investment opportunities, and logistics.

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