Global Synthetic Rubber Market Outlook, 2028

The Global Synthetic Rubber market is anticipated to cross USD 55 Billion by 2028 and increasing from USD 42.52 Billion in 2022.

Featured Companies

  • 1. LG Chem Limited
  • 2. Goodyear Tyres
  • 3. Michelin
  • 4. Sumitomo Chemical
  • 5. Exxonmobil Corporation
  • 6. Arkema S.A.
  • 7. Reliance Industries Limited
  • 8. Saudi Basic Industries Corporation
  • 9. Yokohama
  • More...

Synthetic rubber is a man-made rubber, often known as an elastomer. It is made from basic resources such as coal, oil, natural gas, and acetylene. The product has various advantages, including recyclability, increased tensile strength, and resistance to swelling and abrasion. It is made by polymerizing various petrochemical chemicals, typically from petroleum, utilizing processes such as emulsion, solution, and bulk polymerization. This manufacturing process allows for the material's qualities to be tailored to individual needs, resulting in benefits such as increased durability, resilience to extreme temperatures, and chemical stability. Because of its higher wear resistance and fuel efficiency, synthetic rubber is widely used in the automotive industry for tire production. Moreover, it is utilized in industrial applications, including conveyor belts, hoses, and gaskets, where its resilience and adaptability are highly valued. The two main types of synthetic rubber are styrene-butadiene rubber (SBR), commonly employed in tire treads, and polybutadiene rubber (BR), used for impact-resistant products. The increasing R&D and product enhancement by various producers in the rubber market will drive up product demand. The strong development rate in aerospace, automotive, and construction, combined with rising rubber demand from tire and electronic applications will help to fuel market growth over the projection period. Synthetic rubbers replicate the attractive qualities of natural rubber. The principal raw materials used in the production of synthetic rubber are petrochemical feed-stocks. The primary development of synthetic rubber can be credited to a single event during World War II, when the United States was cut off from all natural rubber sources. To address the country's demands, the government constructed synthetic rubber facilities and sold them to industry in the post-war period, kicking off the commercialization of synthetic rubber. Synthetic rubber is widely used in a number of applications due to its advantageous properties such as improved abrasion resistance, increased elasticity, heat and aging resistance, flame retardancy, and flexibility at low temperatures. End-use industries commonly use butyl rubber (IIR), polybutadiene rubber, styrene-butadiene (SBR) rubber, chloroprene rubber, Ethylene propylene diene monomer rubber (EPDM) rubber, and nitrile rubber.

According to the research report, “Global Synthetic Rubber Market Outlook, 2028” published by Bonafide Research, the market is anticipated to cross USD 55 Billion by 2028, increasing from USD 42.52 Billion in 2022. The market is expected to grow with 5.98% CAGR by 2023-28. The expanding automobile sector and rising building activities around the world have an impact on the global synthetic rubber market. Furthermore, the rising consumer goods industry stimulates demand for synthetic rubber in the production of diverse commodities such as footwear and consumer electronics, which in turn boosts market growth. In accordance with this, the demand for rubber in the energy sector for oil and gas exploration is also contributing to market expansion. Furthermore, the trend toward eco-friendly alternatives stimulates R&D in bio-based synthetic rubber goods, boosting market innovation. Aside from that, constant industrialization progress and robust growth in the healthcare sector are fuelling market growth. With continued research and development, there is no doubt that this market will continue to grow and thrive in the years to come. This expansion can be ascribed to rising demand for vehicles and other rubber products, as well as increased awareness of the advantages of synthetic rubber over natural rubber. As the need for Synthetic Rubber increases, so does the need for new and inventive methods of producing it. Synthetic rubber, for example, is made from sustainable resources such as plant-based oils. This technique not only eliminates reliance on fossil fuels, but it may also be more cost-effective in the long run. This is just one of several innovative ways being investigated for the future of Synthetic Rubber production. Tires, door and window profiles, seals such as O-rings and gaskets, hoses, belts, matting, and flooring are all examples of synthetic rubber's diverse applications in the automotive sector. It has a wide range of physical and chemical qualities that can improve the reliability of a particular product or application. In two essential areas, synthetic rubber beats natural rubber: thermal stability and resistance to oils and similar chemicals. It is more resistant to oxidizing factors such as oxygen and ozone, which can reduce the shelf-life of products such as tires. Increasing R&D and product enhancement by various rubber manufacturers will drive up product demand. Expanding demand for rubber from tire and electronic applications, together with expanding aerospace, automotive, and construction growth, will help fuel market expansion over the forecast period. As the global need for OEM tyres rises as the automotive sector expands, so will the demand for synthetic rubbers, which will eventually fuel market growth.

Synthetic Rubber Market

The Asia-Pacific region is anticipated to experience the highest rise in synthetic rubber use throughout the forecast period owing to the increasing demand for styrene-butadiene rubber and nitrile rubber from the construction industry.
The increasing infrastructure development, coupled with product advancement, will fuel the market growth. In this region, China holds the highest synthetic rubber market share, and this is due to the higher production of different grades of tire and non-automotive products. Currently, Asia Pacific is at the forefront of accounting for the largest revenue share of the global synthetic rubber market and is predicted to do so in the near future as well. The growth of the Asia Pacific market for synthetic rubber can be attributed to fast-growing economies in the region such as China and India. Malaysia is another major consumer of rubber in the region. This is due to rising sales of automobiles in the two nations. Moreover, the burgeoning growth of the construction sector and increasing infrastructure projects are expected to have a positive impact on the market in Asia Pacific. The soaring demand for green tires is likely to positively influence the market throughout the assessment tenure. In terms of production in the market for synthetic rubber, Asia Pacific is anticipated to take the lead. In addition, Chinese petroleum and chemical companies are being publicized as the world’s largest synthetic rubber production facilities. The Asia Pacific region's remarkable economic growth is underpinned by a confluence of key factors, which includes the region's burgeoning population and rapid urbanization rates. Moreover, a burgeoning middle class fuels consumption patterns, contributing significantly to economic expansion. The region's strategic geographical location facilitates international trade and investment, fostering economic integration. Government policies aimed at attracting foreign investment, coupled with advancements in technology and innovation, further amplify growth. The manufacturing sector's dynamism and its role within global supply chains enhance the region's economic resilience. Additionally, the abundant availability of labour resources, both skilled and unskilled, at competitive costs, bolsters the region's industrial competitiveness.

On the basis of form, the solid segment is estimated to witness significant growth during the forecast period due to factors such as economic growth and raised manufacturing and industrial activities often lead to high demand for solid synthetic rubber.
Solid synthetic rubber is known for its resilience and durability. It can withstand harsh environmental conditions, temperature extremes, and mechanical stress, making it a preferred choice for many applications. Solid synthetic rubber can be formulated and tailored to meet a wide range of applications and performance requirements. This versatility makes it suitable for various industries, including automotive, aerospace, construction, healthcare, and more. Solid synthetic rubber is often more cost-effective than other materials with similar properties. Its long-lasting characteristics and ease of production contribute to its economic advantages. Solid synthetic rubber can maintain its elasticity and flexibility over a wide temperature range, which is important in applications where materials need to expand and contract with temperature variations. Synthetic rubber is effective in damping noise and vibration, which is crucial in applications like automotive tires, shock absorbers, and industrial machinery. As environmental regulations become more stringent, solid synthetic rubber is often chosen for its compliance with regulatory requirements, as well as its recyclability and sustainability in some cases. The production processes for solid synthetic rubber have been well-established and optimized over many decades, making it readily available in various forms and quantities. The long history of successful use of solid synthetic rubber in various industries has led to a high level of trust and confidence in its performance and reliability.

Based on the product type, Styrene butadiene rubber (SBR) is the leading segment and accounted for the largest market share attributed to its cost-effective properties and preference over natural rubber.
Styrene-butadiene rubber (SBR can be processed easily and offers heat aging. It is also resistant to abrasion. Used mainly for car tire manufacture, where it is mixed with natural rubber at times, SBR also finds application in making gaskets, conveyor belts, floor tiles, hoses, adhesives, and footwear. The styrene butadiene rubber (SBR) segment is propelled by the automotive industry's soaring demand for high-performance yet cost-effective tires. Its exceptional durability, abrasion resistance, and favorable blending properties make it an ideal choice for tire manufacturers seeking optimal balance. Moreover, the construction sector's expansion necessitates versatile materials for sealants, adhesives, and coatings, further elevating SBR's prominence due to its adaptable characteristics. The consumer goods industry's reliance on SBR for items such as footwear, sports equipment, and various household goods adds another layer of impetus. As industries gravitate toward sustainability, SBR's recyclability and potential for bio-based production align with eco-conscious trends. The consistent drive for technological innovation and product enhancement also fuels research into advanced SBR formulations, solidifying its market relevance.

The Automotive sector dominated the synthetic rubber market in 2022 as the automotive industry is the largest consumer of synthetic rubber, which is used in the manufacturing of tires.
Synthetic rubbers are used in hoses for air-conditioning, engine seals, dashboards, exterior filler panels, wipers, body seals, door & window handles, vibration-damping pads, and vehicle mats. The synthetic rubbers with significant strength are replacing metal parts in vehicles. This reduces the weight of the vehicle and helps in increasing its fuel efficiency without compromising the performance. The trend of reducing greenhouse gas emissions in vehicles has increased the demand for synthetic rubbers in the automotive industry. Synthetic rubbers are also used in various applications such as mastic adhesives, spot sealers, and adhesives used in brakes. The synthetic rubber-based coatings and adhesives have high resistance to moisture, acids, abrasion, corrosion, and slipping. They also provide a controlled grip and remain flexible over a long period without cracking. The rapid growth in the automotive industry, coupled with advancements in the tire, is one factor that would aid market growth. The non-tire automotive industry is the second-leading segment in the market. In this segment, the rubber consumption can be seen in automotive mats and wire & cables. The industrial rubber goods segment consists of conveyor belts, industrial mats, gloves, and wires & cables. The rising product demand in these applications will flourish the market growth. Additionally, the emphasis on road safety and vehicle performance enhances the need for high-quality tires and components, thus driving innovation in this sector. Furthermore, the shift towards sustainable practices and environmental consciousness has prompted tire manufacturers to explore eco-friendly materials and manufacturing processes, fostering market evolution. The dynamic landscape of consumer preferences, marked by a preference for comfort, fuel efficiency, and longevity, fuels the demand for advanced tire technologies and materials. Moreover, as mobility patterns evolve, including the rise of electric vehicles and autonomous driving, the tire and tire component segment must adapt to new requirements, thereby further catalyzing its growth. In line with this, ongoing research and development initiatives aimed at enhancing tire durability, tread design, and overall performance contribute significantly to the sustained advancement of this segment.

Market Drivers

• Automotive Industry Growth: The automotive industry is a significant driver for the synthetic rubber market. As the automotive sector expands, there is an increased demand for tires, hoses, seals, and other rubber components. Synthetic rubber is preferred in these applications due to its durability and performance characteristics. With the rising middle class in emerging markets and the push for fuel-efficient and electric vehicles, the demand for synthetic rubber in the automotive industry is expected to continue to grow.
• Infrastructure Development: Infrastructure projects, including road construction, building construction, and the development of transportation networks, drive the demand for synthetic rubber-based products like asphalt modifiers and construction seals. As countries are investing in infrastructure development, the synthetic rubber market benefits from increased demand for these materials.

Market Challenges

• Volatility in Raw Material Prices: The synthetic rubber industry heavily depends on the cost and availability of raw materials, primarily crude oil and petrochemicals. Fluctuations in oil prices and supply disruptions can lead to price volatility in synthetic rubber, affecting the profitability of manufacturers. This challenge requires market players to have strategies for managing raw material price risks.
• Environmental Concerns and Sustainability: Environmental regulations and consumer awareness about sustainability are increasingly pressuring the synthetic rubber industry. Many synthetic rubber products are derived from non-renewable resources and can have adverse environmental impacts. Market players are facing the challenge of developing sustainable and eco-friendly alternatives to meet regulatory requirements and consumer preferences.

Market Trends

• Green and Sustainable Rubber: There is a growing trend toward the development and adoption of green and sustainable rubber products. This includes the use of bio-based feed-stocks and the development of synthetic rubbers with reduced environmental impact. The market is witnessing increased research and development efforts to create more eco-friendly synthetic rubber materials.

• Advanced Tire Technology: In the tire industry, there is a trend toward advanced tire technologies, such as self-healing tires and low rolling resistance tires, which use specialized synthetic rubber compounds. These innovations aim to improve tire performance, fuel efficiency, and durability, reflecting evolving consumer demands and environmental concerns.

Covid-19 Impacts

Lockdowns, factory closures, and restrictions on movement hindered the production and transportation of synthetic rubber raw materials and finished products. This led to supply chain disruptions and shortages of synthetic rubber in some regions. The automotive industry is a major consumer of synthetic rubber, primarily in tire manufacturing. During the pandemic, there was a sharp decline in automotive production and sales, leading to reduced demand for synthetic rubber. This had a negative impact on synthetic rubber producers. Economic uncertainty and reduced consumer spending during the pandemic led to a decline in demand for a wide range of goods, including those made with synthetic rubber. This affected various industries like construction, manufacturing, and consumer goods, further reducing the need for synthetic rubber. The pandemic also caused volatility in oil prices, which directly impacted the cost of raw materials for synthetic rubber production. Manufacturers faced uncertainty in terms of production costs, which could fluctuate significantly. The pandemic led to disruptions in international trade, affecting the import and export of synthetic rubber. Lockdowns and restrictions on movement made it challenging for businesses to transport goods, impacting the global distribution of synthetic rubber. The pandemic accelerated existing trends towards e-commerce and contactless shopping. This shift in consumer preferences affected the types of products that were in demand, potentially impacting the composition and requirements of synthetic rubber in consumer goods.

Competitive Landscape

The worldwide synthetic rubber market's competitive landscape is characterized by a variety of characteristics that impact industry players. Market participants must contend with a complex interplay of elements that influences their strategy and operations. Technological improvements, product development innovation, and research into sustainable alternatives all drive organizations to differentiate their services. Pricing strategies are critical for navigating the market's sensitivity to cost changes. Furthermore, given the market's vulnerability to supply chain disruptions and variations in demand patterns, robust risk management methods are required. Regulatory compliance, particularly in the context of environmental and safety requirements, is critical in shaping market dynamics. Collaborations, partnerships, and mergers continue to be strategic options for firms looking to extend their reach and capabilities. Adaptability to changing trends and preferences becomes increasingly important as the sector evolves. To ensure sustained growth and relevance in a dynamic market context, the competitive landscape necessitates a thorough awareness of these elements. Some of the major players are Asahi Kasei Corporation, The Yokohama Rubber Company, Exxon Mobil Corporation, The Dow Chemical Company, Kumho Petrochemical Co., Ltd., Zeon Corporation, LG Chem, TSRC Corporation, Sumitomo Chemical Co., Ltd., JSR Corporation, Mitsubishi Chemical Group Corporation, The Goodyear Tire & Rubber Company, Reliance Industries Limited, Apcotex Industries Ltd, Denka Company Limited, Sibur holding pjsc ,Michelin, Saudi Arabia's Basic Industries Corporation, Arlanxeo Company and Arkema group.

Key Developments

• In August 2023, FuelCell Energy (FCEL.O) announced to extend a carbon capture joint development agreement with Exxon Mobil (XOM.N). The agreement will be extended for the fourth time and would increase research costs for Exxon to $67 million from $60 million.

• In January 2023, Pegasus Tech Ventures established a $100 million corporate venture capital fund with Denka Company Limited, a major Japanese chemicals, materials science, and life science company.

• In August 2023, LG Chem Ltd. (Seoul, South Korea) announced that it will spend $94.1 million over the next two years to expand its manufacturing facility in Cheongju.

• In March 2023, the Saudi Arabian Oil Company (Aramco) completed the USD 2.65 billion acquisition of Valvoline Inc., a provider of automotive and industrial solutions, through one of its wholly-owned subsidiaries.

Considered in this report:

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:

• Global Synthetic Rubber market Outlook with its value and forecast along with its segments
• Region & Country-wise Synthetic Rubber market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa

By Form Type:

• Solid
• Liquid

By Type:

• Styrene Butadiene Rubber
• Polybutadiene Rubber
• Ethylene Propylenediene Rubber
• Poly-isoprene Rubber
• Neoprene Rubber
• Nitrile Rubber
• Butyl Rubber
• Others

By End User Industry:

• Automotive
• Consumer Goods
• Industrial Goods
• Chemical
• Medical
• Pulp & Paper
• Others

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience:

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organisations related to the Synthetic Rubber industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

 

 

 

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Companies Mentioned

  • LG Chem Limited
  • Goodyear Tyres
  • Michelin
  • Sumitomo Chemical
  • Exxonmobil Corporation
  • Arkema S.A.
  • Reliance Industries Limited
  • Saudi Basic Industries Corporation
  • Yokohama
  • The Dow Chemical Company
  • Mitsubishi Chemical Group Corporation
  • Asahi Kasei Corporation
  • JSR Corporation
  • Apcotex Industries Ltd
  • Denka Company Limited
  • Sibur holding pjsc
  • Arlanxeo Company
  • Powell Industries
  • WEG SA
  • ADT Inc

Table of Contents

  • Table of Contents
  • 1. Executive Summary
  • 2. Market Dynamics
  • 2.1. Market Drivers & Opportunities
  • 2.2. Market Restraints & Challenges
  • 2.3. Market Trends
  • 2.4. Covid-19 Effect
  • 2.5. Supply chain Analysis
  • 2.6. Policy & Regulatory Framework
  • 2.7. Industry Experts Views
  • 3. Research Methodology
  • 3.1. Secondary Research
  • 3.2. Primary Data Collection
  • 3.3. Market Formation & Validation
  • 3.4. Report Writing, Quality Check & Delivery
  • 4. Market Structure
  • 4.1. Market Considerate
  • 4.2. Assumptions
  • 4.3. Limitations
  • 4.4. Abbreviations
  • 4.5. Sources
  • 4.6. Definitions
  • 5. Economic /Demographic Snapshot
  • 6. Global Synthetic Rubber Market Outlook
  • 6.1. Market Size By Value
  • 6.2. Market Share By Region
  • 6.3. Market Size and Forecast, By Geography
  • 6.4. Market Size and Forecast, By Form Type
  • 6.5. Market Size and Forecast, By Type
  • 6.6. Market Size and Forecast, By End User Industry
  • 7. North America Synthetic Rubber Market Outlook
  • 7.1. Market Size By Value
  • 7.2. Market Share By Country
  • 7.3. Market Size and Forecast, By Form Type
  • 7.4. Market Size and Forecast, By Type
  • 7.5. Market Size and Forecast, By End User Industry
  • 7.6. United States Synthetic Rubber Market Outlook
  • 7.6.1. Market Size By Value
  • 7.6.2. Market Size and Forecast By Form Type
  • 7.6.3. Market Size and Forecast By Type
  • 7.6.4. Market Size and Forecast By End User Industry
  • 7.7. Canada Synthetic Rubber Market Outlook
  • 7.7.1. Market Size By Value
  • 7.7.2. Market Size and Forecast By Form Type
  • 7.7.3. Market Size and Forecast By Type
  • 7.7.4. Market Size and Forecast By End User Industry
  • 7.8. Mexico Synthetic Rubber Market Outlook
  • 7.8.1. Market Size By Value
  • 7.8.2. Market Size and Forecast By Form Type
  • 7.8.3. Market Size and Forecast By Type
  • 7.8.4. Market Size and Forecast By End User Industry
  • 8. Europe Synthetic Rubber Market Outlook
  • 8.1. Market Size By Value
  • 8.2. Market Share By Country
  • 8.3. Market Size and Forecast, By Form Type
  • 8.4. Market Size and Forecast, By Type
  • 8.5. Market Size and Forecast, By End User Industry
  • 8.6. Germany Synthetic Rubber Market Outlook
  • 8.6.1. Market Size By Value
  • 8.6.2. Market Size and Forecast By Form Type
  • 8.6.3. Market Size and Forecast By Type
  • 8.6.4. Market Size and Forecast By End User Industry
  • 8.7. United Kingdom Synthetic Rubber Market Outlook
  • 8.7.1. Market Size By Value
  • 8.7.2. Market Size and Forecast By Form Type
  • 8.7.3. Market Size and Forecast By Type
  • 8.7.4. Market Size and Forecast By End User Industry
  • 8.8. France Synthetic Rubber Market Outlook
  • 8.8.1. Market Size By Value
  • 8.8.2. Market Size and Forecast By Form Type
  • 8.8.3. Market Size and Forecast By Type
  • 8.8.4. Market Size and Forecast By End User Industry
  • 8.9. Italy Synthetic Rubber Market Outlook
  • 8.9.1. Market Size By Value
  • 8.9.2. Market Size and Forecast By Form Type
  • 8.9.3. Market Size and Forecast By Type
  • 8.9.4. Market Size and Forecast By End User Industry
  • 8.10. Spain Synthetic Rubber Market Outlook
  • 8.10.1. Market Size By Value
  • 8.10.2. Market Size and Forecast By Form Type
  • 8.10.3. Market Size and Forecast By Type
  • 8.10.4. Market Size and Forecast By End User Industry
  • 8.11. Russia Synthetic Rubber Market Outlook
  • 8.11.1. Market Size By Value
  • 8.11.2. Market Size and Forecast By Form Type
  • 8.11.3. Market Size and Forecast By Type
  • 8.11.4. Market Size and Forecast By End User Industry
  • 9. Asia-Pacific Synthetic Rubber Market Outlook
  • 9.1. Market Size By Value
  • 9.2. Market Share By Country
  • 9.3. Market Size and Forecast, By Form Type
  • 9.4. Market Size and Forecast, By Type
  • 9.5. Market Size and Forecast, By End User Industry
  • 9.6. China Synthetic Rubber Market Outlook
  • 9.6.1. Market Size By Value
  • 9.6.2. Market Size and Forecast By Form Type
  • 9.6.3. Market Size and Forecast By Type
  • 9.6.4. Market Size and Forecast By End User Industry
  • 9.7. Japan Synthetic Rubber Market Outlook
  • 9.7.1. Market Size By Value
  • 9.7.2. Market Size and Forecast By Form Type
  • 9.7.3. Market Size and Forecast By Type
  • 9.7.4. Market Size and Forecast By End User Industry
  • 9.8. India Synthetic Rubber Market Outlook
  • 9.8.1. Market Size By Value
  • 9.8.2. Market Size and Forecast By Form Type
  • 9.8.3. Market Size and Forecast By Type
  • 9.8.4. Market Size and Forecast By End User Industry
  • 9.9. Australia Synthetic Rubber Market Outlook
  • 9.9.1. Market Size By Value
  • 9.9.2. Market Size and Forecast By Form Type
  • 9.9.3. Market Size and Forecast By Type
  • 9.9.4. Market Size and Forecast By End User Industry
  • 9.10. South Korea Synthetic Rubber Market Outlook
  • 9.10.1. Market Size By Value
  • 9.10.2. Market Size and Forecast By Form Type
  • 9.10.3. Market Size and Forecast By Type
  • 9.10.4. Market Size and Forecast By End User Industry
  • 10. South America Synthetic Rubber Market Outlook
  • 10.1. Market Size By Value
  • 10.2. Market Share By Country
  • 10.3. Market Size and Forecast, By Form Type
  • 10.4. Market Size and Forecast, By Type
  • 10.5. Market Size and Forecast, By End User Industry
  • 10.6. Brazil Synthetic Rubber Market Outlook
  • 10.6.1. Market Size By Value
  • 10.6.2. Market Size and Forecast By Form Type
  • 10.6.3. Market Size and Forecast By Type
  • 10.6.4. Market Size and Forecast By End User Industry
  • 10.7. Argentina Synthetic Rubber Market Outlook
  • 10.7.1. Market Size By Value
  • 10.7.2. Market Size and Forecast By Form Type
  • 10.7.3. Market Size and Forecast By Type
  • 10.7.4. Market Size and Forecast By End User Industry
  • 10.8. Columbia Synthetic Rubber Market Outlook
  • 10.8.1. Market Size By Value
  • 10.8.2. Market Size and Forecast By Form Type
  • 10.8.3. Market Size and Forecast By Type
  • 10.8.4. Market Size and Forecast By End User Industry
  • 11. Middle East & Africa Synthetic Rubber Market Outlook
  • 11.1. Market Size By Value
  • 11.2. Market Share By Country
  • 11.3. Market Size and Forecast, By Form Type
  • 11.4. Market Size and Forecast, By Type
  • 11.5. Market Size and Forecast, By End User Industry
  • 11.6. UAE Synthetic Rubber Market Outlook
  • 11.6.1. Market Size By Value
  • 11.6.2. Market Size and Forecast By Form Type
  • 11.6.3. Market Size and Forecast By Type
  • 11.6.4. Market Size and Forecast By End User Industry
  • 11.7. Saudi Arabia Synthetic Rubber Market Outlook
  • 11.7.1. Market Size By Value
  • 11.7.2. Market Size and Forecast By Form Type
  • 11.7.3. Market Size and Forecast By Type
  • 11.7.4. Market Size and Forecast By End User Industry
  • 11.8. South Africa Synthetic Rubber Market Outlook
  • 11.8.1. Market Size By Value
  • 11.8.2. Market Size and Forecast By Form Type
  • 11.8.3. Market Size and Forecast By Type
  • 11.8.4. Market Size and Forecast By End User Industry
  • 12. Competitive Landscape
  • 12.1. Competitive Dashboard
  • 12.2. Business Strategies Adopted by Key Players
  • 12.3. Key Players Market Share Insights and Analysis, 2022
  • 12.4. Key Players Market Positioning Matrix
  • 12.5. Porter's Five Forces
  • 12.6. Company Profile
  • 12.6.1. Asahi Kasei Corporation
  • 12.6.1.1. Company Snapshot
  • 12.6.1.2. Company Overview
  • 12.6.1.3. Financial Highlights
  • 12.6.1.4. Geographic Insights
  • 12.6.1.5. Business Segment & Performance
  • 12.6.1.6. Product Portfolio
  • 12.6.1.7. Key Executives
  • 12.6.1.8. Strategic Moves & Developments
  • 12.6.2. The Yokohama Rubber Company
  • 12.6.3. Exxon Mobil Corporation
  • 12.6.4. The Dow Chemical Company
  • 12.6.5. Kumho Petrochemical Co., Ltd.
  • 12.6.6. Zeon Corporation
  • 12.6.7. LG Chem
  • 12.6.8. TSRC Corporation
  • 12.6.9. Sumitomo Chemical Co., Ltd.
  • 12.6.10. JSR Corporation
  • 12.6.11. Mitsubishi Chemical Group Corporation
  • 12.6.12. The Goodyear Tire & Rubber Company
  • 12.6.13. Reliance Industries Limited
  • 12.6.14. Apcotex Industries Ltd
  • 12.6.15. Denka Company Limited
  • 12.6.16. Sibur holding pjsc
  • 12.6.17. Michelin
  • 12.6.18. Saudi Arabia’s Basic Industries Corporation
  • 12.6.19. Arlanxeo Company
  • 12.6.20. Arkema group
  • 13. Strategic Recommendations
  • 14. Annexure
  • 14.1. FAQ`s
  • 14.2. Notes
  • 14.3. Related Reports
  • 15. Disclaimer

List of Table
Table 1 : Global Synthetic Rubber Market Snapshot, By Segmentation (2022 & 2028) (in USD Billion)
Table 2 : Influencing Factors for Synthetic Rubber Market, 2022
Table 3: Top 10 Counties Economic Snapshot 2020
Table 4: Economic Snapshot of Other Prominent Countries 2020
Table 5: Average Exchange Rates for Converting Foreign Currencies into U.S. Dollars
Table 6: Global Synthetic Rubber Market Size and Forecast, By Geography (2017 to 2028F) (In USD Billion)
Table 7 : Global Synthetic Rubber Market Size and Forecast, By Form Type (2017 to 2028F) (In USD Billion)
Table 8 : Global Synthetic Rubber Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 9 : Global Synthetic Rubber Market Size and Forecast, By End User Industry (2017 to 2028F) (In USD Billion)
Table 10 : North America Synthetic Rubber Market Size and Forecast, By Form Type (2017 to 2028F) (In USD Billion)
Table 11 : North America Synthetic Rubber Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 12 : North America Synthetic Rubber Market Size and Forecast, By End User Industry (2017 to 2028F) (In USD Billion)
Table 13 : United States Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 14 : United States Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 15 : United States Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 16 : Canada Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 17 : Canada Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 18 : Canada Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 19 : Mexico Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 20 : Mexico Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 21 : Mexico Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 22 : Europe Synthetic Rubber Market Size and Forecast, By Form Type (2017 to 2028F) (In USD Billion)
Table 23 : Europe Synthetic Rubber Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 24 : Europe Synthetic Rubber Market Size and Forecast, By End User Industry (2017 to 2028F) (In USD Billion)
Table 25 : Germany Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 26 : Germany Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 27 : Germany Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 28 : United Kingdom Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 29 : United Kingdom Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 30 : United Kingdom Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 31 : France Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 32 : France Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 33 : France Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 34 : Italy Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 35 : Italy Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 36 : Italy Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 37 : Spain Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 38 : Spain Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 39 : Spain Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 40 : Russia Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 41 : Russia Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 42 : Russia Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 43 : Asia-Pacific Synthetic Rubber Market Size and Forecast, By Form Type (2017 to 2028F) (In USD Billion)
Table 44 : Asia-Pacific Synthetic Rubber Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 45 : Asia-Pacific Synthetic Rubber Market Size and Forecast, By End User Industry (2017 to 2028F) (In USD Billion)
Table 46 : China Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 47 : China Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 48 : China Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 49 : Japan Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 50 : Japan Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 51 : Japan Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 52 : India Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 53 : India Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 54 : India Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 55 : Australia Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 56 : Australia Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 57 : Australia Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 58 : South Korea Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 59 : South Korea Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 60 : South Korea Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 61 : South America Synthetic Rubber Market Size and Forecast, By Form Type (2017 to 2028F) (In USD Billion)
Table 62 : South America Synthetic Rubber Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 63 : South America Synthetic Rubber Market Size and Forecast, By End User Industry (2017 to 2028F) (In USD Billion)
Table 64 : Brazil Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 65 : Brazil Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 66 : Brazil Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 67 : Argentina Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 68 : Argentina Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 69 : Argentina Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 70 : Columbia Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 71 : Columbia Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 72 : Columbia Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 73 : Middle East & Africa Synthetic Rubber Market Size and Forecast, By Form Type (2017 to 2028F) (In USD Billion)
Table 74 : Middle East & Africa Synthetic Rubber Market Size and Forecast, By Type (2017 to 2028F) (In USD Billion)
Table 75 : Middle East & Africa Synthetic Rubber Market Size and Forecast, By End User Industry (2017 to 2028F) (In USD Billion)
Table 76 : United Arab Emirates Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 77 : United Arab Emirates Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 78 : United Arab Emirates Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 79 : Saudi Arabia Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 80 : Saudi Arabia Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 81 : Saudi Arabia Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)
Table 82 : South Africa Synthetic Rubber Market Size and Forecast By Form Type (2017 to 2028F) (In USD Billion)
Table 83 : South Africa Synthetic Rubber Market Size and Forecast By Type (2017 to 2028F) (In USD Billion)
Table 84 : South Africa Synthetic Rubber Market Size and Forecast By End User Industry (2017 to 2028F) (In USD Billion)

List of Figures
Figure 1: Global Synthetic Rubber Market Size (USD Billion) By Region, 2022 & 2028
Figure 2: Market attractiveness Index, By Region 2028
Figure 3: Market attractiveness Index, By Segment 2028
Figure 4: Global Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 5: Global Synthetic Rubber Market Share By Region (2022)
Figure 6: North America Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 7: North America Synthetic Rubber Market Share By Country (2022)
Figure 8: US Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 9: Canada Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 10: Mexico Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 11: Europe Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 12: Europe Synthetic Rubber Market Share By Country (2022)
Figure 13: Germany Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 14: UK Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 15: France Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 16: Italy Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 17: Spain Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 18: Russia Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 19: Asia-Pacific Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 20: Asia-Pacific Synthetic Rubber Market Share By Country (2022)
Figure 21: China Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 22: Japan Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 23: India Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 24: Australia Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 25: South Korea Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 26: South America Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 27: South America Synthetic Rubber Market Share By Country (2022)
Figure 28: Brazil Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 29: Argentina Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 30: Columbia Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 31: Middle East & Africa Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 32: Middle East & Africa Synthetic Rubber Market Share By Country (2022)
Figure 33: UAE Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 34: Saudi Arabia Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 35: South Africa Synthetic Rubber Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 36: Competitive Dashboard of top 5 players, 2022
Figure 37: Market Share insights of key players, 2022
Figure 38: Porter's Five Forces of Global Synthetic Rubber Market

Market Research FAQs

Synthetic rubber is a man-made, polymer-based material designed to mimic the properties of natural rubber, which is derived from rubber trees. Synthetic rubber is created through chemical processes, allowing for greater control over its characteristics, including durability, resistance to environmental factors, and specific performance attributes.

Synthetic rubber is used in a wide range of applications, including tires, automotive parts, footwear, industrial products (seals, hoses, gaskets), adhesives, consumer goods (gloves, sporting goods), medical devices, and more. It is valued for its resilience, flexibility, and resistance to wear and tear.

Key drivers for the synthetic rubber market include the growth of the automotive industry, infrastructure development, economic growth in developing countries, and expanding applications in various industries. The market is also influenced by trends like sustainability and advanced tire technology.

Challenges include the volatility of raw material prices (such as crude oil), environmental concerns and sustainability requirements, trade disputes and tariffs, and competition from natural rubber, which is perceived as more sustainable.

The pandemic disrupted supply chains, reduced demand in the automotive and various industries, caused economic uncertainty, and led to volatile raw material prices. It also highlighted the importance of supply chain resilience and adaptability.

Synthetic rubber comes in various types, including styrene-butadiene rubber (SBR), polybutadiene rubber (BR), ethylene propylene diene monomer (EPDM), nitrile rubber (NBR), and more. These types have different properties and are suitable for specific applications.
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Global Synthetic Rubber Market Outlook, 2028

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