Synthetic Rubber Market

Introduction of the Synthetic Rubber Market Report

Synthetic rubber refers to an artificial elastomer synthesized from petroleum by-products and other minerals. The synthetic rubber has the property of undergoing elastic deformation under stress and can also return to its previous size without permanent deformation. Various synthetic rubbers including butadiene rubber, styrene-butadiene rubber, neoprene, the polysulfide rubbers, butyl rubber, and the silicones are used for making industrial goods.

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Market Dynamic

Key Drivers and Emerging Trends

Increasing demand of synthetic rubbers in various industries including footwear, electronics, aerospace, and energy, and the growing use of synthetic rubber in automobiles primarily to reduce vehicle weight for fuel efficiency is expected to drive the growth of the synthetic rubber market size over the forecast period. In addition, synthetic rubbers offer advantages, such as better resistance to aging and weathering; higher thermal stability and resistance to oils, greases, and related compounds and superior flexibility at low temperatures as compared to natural rubbers. This is further expected to augment the growth of the market.

There has been a rapid demand of synthetic rubbers in the manufacturing of tire, tire components, and other automobile parts including door and window profiles, O-rings, gaskets, hoses, belts, matting, flooring, body sealing systems, transmission systems, automotive anti-vibration system, and fluid transfer systems among others. Moreover, according to the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales globally with 40% year-on-year increase and accounted for 2.6% of the global car sales. This is expected to augment the growth of the synthetic rubber market share during the forecast period.

Restraint in the Synthetic Rubber Market

However, the disruption in the supply chain, low synthetic rubber production, and decline in end-use industries due to the outbreak of COVID 19 pandemic has adversely impacted the synthetic rubber market, which is expected to limit the growth of the market over the forecast period. Moreover, synthetic rubber is non-biodegradable because it consists of inorganic materials, this may further hamper the market growth.

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Type – Segment Analysis

Based on the type, styrene butadiene rubber (SBR) segment is expected to account for a prominent share in the market owing to its various advantageous features including abrasion resistance, perfect impact strength, good resilience, high tensile strength, low rolling resistance, high traction during braking, and low abrasion among others. Additionally, styrene butadiene rubber is used in a wide range of application that includes tires and tire products, automotive parts, lightweight vehicles tires, hoses, belts, gaskets, seals, roll covers, coated fabrics, and electrical wire insulation. Moreover, SBR is significantly used in footwear manufacturing for rubber sole compounds owing to its abrasion and flex resistance, hardness, traction, shape retention. These factors are expected to propel the market growth.

Application – Segment Analysis

Based on the application, tire and tire component application is expected to hold a notable market share over the forecast period. This can be attributed to the greater durability and longevity; high resistance to damage and degradation from chemicals; high and low temperature, ozone, sunlight, and weathering resistance properties of synthetic rubber. Moreover, according to the U.S. tire manufacturers association, butadiene rubber and styrene butadiene rubber are the two main synthetic rubber polymers that are used in tire manufacturing owing to their rolling resistance, wear and traction properties.

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Regional – Segment Analysis:

Based on region, Asia-Pacific is expected to account for a notable share in the market primarily due to the growing investment towards the manufacturing of automotive including electric vehicles and natural gas vehicles (NGV). Moreover, according to the International Energy Agency (IEA), China accounted for 47% of the global electric car sales in 2019. This is expected to boost the synthetic rubber market growth in the Asia-Pacific owing to their widespread use in tire, engine seals, bumper, air bag, mats, hose, and others automobile parts.

Top Market Players

Several Synthetic Rubber market leaders operating in the market, include, JSR Corporation, Dow, Inc., Exxon Mobil Corporation, Zeon Corporation, The Goodyear Tire and Rubber Company, Apcotex Industries Limited, Denka Company Ltd., Asahi Kasei Corporation, Reliance Industries Limited, and Trinseo S.A. among others. 

Key Developments: 

• • In 2019, Trinseo S.A., one of the leading manufacturers of plastics, latex binders, and synthetic rubber, launched a new grade of multifunctionalized S-SBR (Styrene Butadiene Rubber), SPRINTANTM 918S. The SPRINTANTM 918S offers physical stability, safety, high fuel efficiency, and easy processability for the tread of Ultra High Performance tires to be used in SUVs and light trucks.

Segments covered in the Report:

The global Synthetic Rubber market has been segmented on the basis of type, application, and key regions. Based on type, the market is segmented into Styrene Butadiene Rubber (SBR), Ethylene Propylenediene Rubber (EPDM), Polyisoprene (IR), Polybutadiene Rubber (BR), and others. Based on application, the market is segmented into tire and tire component, non-tire automobile application, footwear, industrial goods, and others. 

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Key questions answered in this research report:

• • At what pace is global Synthetic Rubber Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Synthetic Rubber Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Synthetic Rubber Market?
  • Which type generated maximum revenues in 2020 and identify the most promising type during the forecast period?
  • What are the various applications of global Synthetic Rubber Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2020
Market Forecast Period	2021-2028
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	JSR Corporation, Dow, Inc., Exxon Mobil Corporation, Zeon Corporation, The Goodyear Tire and Rubber Company, Apcotex Industries Limited, Denka Company Ltd., Asahi Kasei Corporation, Reliance Industries Limited, and Trinseo S.A. among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Synthetic Rubber Market by Type

• • Styrene Butadiene Rubber (SBR)
  • Ethylene Propylenediene Rubber (EPDM)
  • Polyisoprene (IR)
  • Polybutadiene Rubber (BR)
  • Others

Global Synthetic Rubber Market by Application

• • Tire and Tire Component
  • Non-tire Automobile Application
  • Footwear
  • Industrial Goods
  • Others

Global Synthetic Rubber Market by Region

• • North America Synthetic Rubber Market (Option 1: As a part of the free 25% customization)
    • North America Synthetic Rubber Market by Type
    • North America Synthetic Rubber Market by Application
    • US Synthetic Rubber Market All-Up
    • Canada Synthetic Rubber Market All-Up
  • Europe Synthetic Rubber Market (Option 2: As a part of the free 25% customization)
    • Europe Synthetic Rubber Market by Type
    • Europe Synthetic Rubber Market by Application
    • UK Synthetic Rubber Market All-Up
    • Germany Synthetic Rubber Market All-Up
    • France Synthetic Rubber Market All-Up
    • Spain Synthetic Rubber Market All-Up
    • Rest of Europe Synthetic Rubber Market All-Up
  • Asia-Pacific Synthetic Rubber Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Synthetic Rubber Market by Type
    • Asia-Pacific Synthetic Rubber Market by Application
    • China Synthetic Rubber Market All-Up
    • India Synthetic Rubber Market All-Up
    • Japan Synthetic Rubber Market All-Up
    • Rest of APAC Synthetic Rubber Market All-Up
  • RoW Synthetic Rubber Market (Option 4: As a part of the free 25% customization)
    • RoW Synthetic Rubber Market by Type
    • RoW Synthetic Rubber Market by Application
    • Brazil Synthetic Rubber Market All-Up
    • South Africa Synthetic Rubber Market All-Up
    • Saudi Arabia Synthetic Rubber Market All-Up
    • UAE Synthetic Rubber Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Synthetic Rubber Market All-Up

Major Players Operating in the Synthetic Rubber Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • JSR Corporation
  • Dow, Inc.
  • Exxon Mobil Corporation
  • Zeon Corporation
  • The Goodyear Tire and Rubber Company
  • Apcotex Industries Limited
  • Denka Company Ltd.
  • Asahi Kasei Corporation
  • Reliance Industries Limited
  • Trinseo S.A.