According to publisher, the global Synthetic Rubber market size was valued at US$ 32400 million in 2023. With growing demand in downstream market, the Synthetic Rubber is forecast to a readjusted size of US$ 37940 million by 2030 with a CAGR of 2.3% during review period.
The research report highlights the growth potential of the global Synthetic Rubber market. Synthetic Rubber are expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Synthetic Rubber. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Synthetic Rubber market.
The Synthetic Rubber market covers Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (BR), Styrenic Block Copolymer (SBC), Ethylene Propylene Diene Monomer (EPDM), Butyl Rubber (IIR), Nitrile Butadiene Rubber (NBR), etc. The typical players include Arlanxeo, Sinopec, Goodyear, Kumho Petrochemical, TSRC, NKNK, JSR, LG Chem, etc.
Synthetic Rubber market is relatively concentrated with the top 10 players takes nearly 50% of the share. The global key Synthetic Rubber manufacturers include Arlanxeo, Sinopec, Kumho Petrochemical, CNPC, TSRC, ExxonMobil, Goodyear, NKNK, etc.
Geographically, Synthetic Rubber is mainly produced in North America, Europe, and Asia Pacific. Asia Pacific is the fastest-growing region, especially China, which plays a more important role in the world. Asia Pacific takes over 55% of the global market share.
In terms of product type, the Synthetic Rubber market covers Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (BR), Styrenic Block Copolymer (SBC), Ethylene Propylene Diene Monomer (EPDM), Butyl Rubber (IIR), Nitrile Butadiene Rubber (NBR), etc. Styrene Butadiene Rubber and Polybutadiene Rubber are the two major types of synthetic rubber consumed.
Synthetic rubber market applications can be split into automotive, industrial, construction, etc. Automotive is the largest market for synthetic rubber which takes over 60% market share.
Key Features:
The report on Synthetic Rubber market reflects various aspects and provide valuable insights into the industry.
The worldwide engineered elastic showcase offers a flexible viewpoint, with expanding request over different industries.
Market Measure and Development Trajectory
The worldwide manufactured elastic showcase held an esteem of around USD 31.31 billion in 2023.
Estimates venture it to reach a promising USD 48.17 billion by 2032, reflecting a CAGR Compound Yearly Development Rate of 4.9 from 2023 to 2032. This development means the proceeded inclination for engineered elastic due to its flexibility and cost effectiveness compared to common rubber.
What's Inside a Bonafide Research`s industry report?
A Bonafide Research industry report provides in-depth market analysis, trends, competitive insights, and strategic recommendations to help businesses make informed decisions.
Key Drivers Fuelling the Market:
Tire Industry Dominance: The tire fragment remains the biggest buyer of manufactured elastic, bookkeeping for over 50 of the advertise share. This is often driven by the
Rising worldwide vehicle generation, especially in Asia Pacific.
Growing request for fuel efficient tires, where engineered elastic offers focal points in rolling resistance. Case Styrene butadiene elastic SBR may be a broadly utilized engineered elastic in tire generation due to its reasonableness and great adjust of properties.
Automotive (Non-Tire) Applications: Engineered elastic finds application in different car parts past tires, including:
Hoses and belts
Seals and gaskets
Interior components
This expanding utilize is driven by the require for lightweight, solid, and weather resistant materials in advanced vehicles. Illustration Nitrile elastic is favoured for hoses and belts due to its amazing oil resistance EPDM International.
Diversification Over Businesses Past car, engineered elastic finds utilize in
Construction (coatings, material membranes
Consumer products footwear, donning goods
Wire and cable insulation
This enhancement extends the showcase reach and decreases reliance on a single industry.
Challenges and Opportunities:
Challenges incorporate fluctuating costs of petroleum based crude materials, natural concerns with respect to squander transfer and potential controls, and competition from characteristic elastic in particular applications.
However, the developing request for economical and bio based manufactured elastic options presents energizing openings. Moreover, progressions in manufactured elastic definitions with progressed execution characteristics can make a competitive edge.
Market Size and Growth: The research report provide an overview of the current size and growth of the Synthetic Rubber market. It may include historical data, market segmentation by Type (e.g., Styrene Butadiene Rubber (SBR), Polybutadiene Rubber (BR)), and regional breakdowns.
Market Drivers and Challenges: The report can identify and analyse the factors driving the growth of the Synthetic Rubber market, such as government regulations, environmental concerns, technological advancements, and changing consumer preferences. It can also highlight the challenges faced by the industry, including infrastructure limitations, range anxiety, and high upfront costs.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Synthetic Rubber market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
Technological Developments: The research report can delve into the latest technological developments in the Synthetic Rubber industry. This include advancements in Synthetic Rubber technology, Synthetic Rubber new entrants, Synthetic Rubber new investment, and other innovations that are shaping the future of Synthetic Rubber.
Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Synthetic Rubber market. It includes factors influencing customer ' purchasing decisions, preferences for Synthetic Rubber product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Synthetic Rubber market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Synthetic Rubber market. The report also evaluates the effectiveness of these policies in driving market growth.
Environmental Impact and Sustainability: The research report assess the environmental impact and sustainability aspects of the Synthetic Rubber market.
Market Forecasts and Future Outlook: Based on the analysis conducted, the research report provide market forecasts and outlook for the Synthetic Rubber industry. This includes projections of market size, growth rates, regional trends, and predictions on technological advancements and policy developments.
Recommendations and Opportunities: The report conclude with recommendations for industry stakeholders, policymakers, and investors. It highlights potential opportunities for market players to capitalize on emerging trends, overcome challenges, and contribute to the growth and development of the Synthetic Rubber market.
Market Segmentation:
Synthetic Rubber market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value.
Segmentation by type
Styrene Butadiene Rubber (SBR)
Polybutadiene Rubber (BR)
Styrenic Block Copolymer (SBC)
Ethylene Propylene Diene Monomer (EPDM)
Butyl Rubber (IIR)
Nitrile Butadiene Rubber (NBR)
Others
Segmentation by application
Automotive
Construction
Industrial
Others
Make this report your own
Have queries/questions regarding a report
Take advantage of intelligence tailored to your business objective
Manmayi Raval
Research Consultant
This report also splits the market by region: Asia Pacific overwhelms the global synthetic elastic advertise, bookkeeping for more than 50 of the showcase shares. This can be due to
Rapid industrialization and development within the car industry, especially in China and India.
Increasing request for customer goods.
Growing tired generation offices within the region.
Europe and North America hold noteworthy advertise offers with built up fabricating bases and mechanical progressions. In any case, development in these districts is anticipated to be slower compared to Asia Pacific.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Arlanxeo
Sinopec
Kumho Petrochemical
CNPC
TSRC
ExxonMobil
Goodyear
NKNK
JSR
Sibur
LG Chem
Versalis
LCY
Kraton
Zeon
Don’t pay for what you don’t need. Save 30%
Customise your report by selecting specific countries or regions
One individual can access, store, display, or archive the report in Excel format but cannot print, copy, or share it. Use is confidential and internal only. Read More
One individual can access, store, display, or archive the report in PDF format but cannot print, copy, or share it. Use is confidential and internal only. Read More
Up to 10 employees in one region can store, display, duplicate, and archive the report for internal use. Use is confidential and printable. Read More
All employees globally can access, print, copy, and cite data externally (with attribution to Bonafide Research). Read More