Synthetic rubber, a versatile polymer, is engineered to mimic natural rubber. Created through processes like polymerization, it offers resilience and elasticity, making it ideal for tire production, footwear, and industrial applications. Unlike natural rubber, it’s not dependent on plant cultivation, ensuring a stable supply. With variations like styrene-butadiene and neoprene, synthetic rubber plays a pivotal role in diverse industries, contributing to durability and performance.
As per the recent research conducted by a leading market insights provider FMI, the global Synthetic Rubber market size will expand at a healthy CAGR over the forecast period between 2023 and 2033. The aim of this study is to analyze key market dynamics affecting the sales of Synthetic Rubber and provide vital insights to business owners to get benefited from forthcoming opportunities.
The report conducts an in-depth analysis into factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for the demand and sales across seven major regions. It also provides refines sales projections and assist market players in identifying the remunerative segments among the verticals.
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Upsurge in the Trend of Green Chemistry to Facilitate the Growth in the Synthetic Rubber Market
Governments of several countries are emphasizing on implementing regulations on chemicals that are hazardous for environment, owing to the rising concerns regarding environment sustainability. Hence, growing trend of green chemistry or sustainable chemistry is being witnessed across the chemical industry.
Citing this trend, chemical manufacturers are reviewing their business strategies and shifting their focus towards adopting eco-friendly practices for the production of sustainable alternatives or less toxic chemicals. This is expected to favor the growth in the Synthetic Rubber market.
Key Synthetic Rubber Market Takeaways and Projections
- The US will lead the North America Synthetic Rubber market, projecting the fastest growth in the region between forecast period
- Germany will collectively hold the largest share in the Europe market over the assessment period.
- India will emerge as a highly remunerative market in South Asia, contributing significant revenue share in the region through forecast period.
- China will dominate the East Asia market, accounting for the largest demand share during the forecast period.
- In terms of segments, will hold the lion’s share in the market, expanding at a robust CAGR during the next ten years.
Competitive Landscape Analysis
The survey offers insights into critical trends and opportunities across technology industry and studies their impact on demand-supply forces in the Synthetic Rubber market. It also profiles a list of prominent companies including
- Arlamxeo
- China Petroleum & Chemical Corporation
- Kumho Petrochemical Co., Ltd.
- TSRC
- Exxon Mobil Corporation
- The Goodyear Tire & Rubber Company
- Nizhnekamskneftekhim
- JSR Corporation
- SIBUR
- LG Chem
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Key Segments Profiled in the Synthetic Rubber Industry Survey
By Product Type, Synthetic Rubber market can be segmented as:
- Isoprene rubber (IR)
- Styrene butadiene rubber
- Chloroprene rubber (CR)
- Acrylonitrile butadiene rubber (NBR)
- Polybutadiene rubber (BR)
- Butyl rubber (IIR)
- Others
By End Use, Synthetic Rubber market can be segmented as:
- Automotive
- Consumer Goods
- Industrial Goods
- Chemical
- Medical
- Pulp & Paper
By Application, synthetic rubber market can be segmented as:
- Tires
- Passenger Cars
- Commercial Vehicles
- Electric Vehicles
- Agriculture Vehicles
- Others
- Industrial Goods
- Hoses
- Belts
- Tubes
- Seals
- Gaskets
- Rubber coated cloth
- Consumer Goods
- Footwear
- Sporting Goods
- Adhesives & foams
- Cable & wire cover
- Medical goods
- Paper & fabric coating
Why Buy FMI’s Report?
- Extensive analysis on high growth niche markets across major regions
- Detailed assessment on key segments and sub-segments
- Recent and upcoming strategies tracked of manufacturers for the Synthetic Rubber market
- Reliable information on new product launches, technological advancements, and more
- Valuable insights on the impact of regulatory framework on the global Synthetic Rubber market
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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