HOME Top Market Reports Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR), Application (Tire, Non-Tire Automotive, Footwear, Industrial), and Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) - Global Forecast to 2022

Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR), Application (Tire, Non-Tire Automotive, Footwear, Industrial), and Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa) - Global Forecast to 2022

By: marketsandmarkets.com
Publishing Date: November 2017
Report Code: CH 1217

 

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The synthetic rubber market was valued at USD 27.27 Billion in 2016 and is projected to reach USD 37.82 Billion by 2022, at a CAGR of 5.5% between 2017 and 2022. The base year considered for the study is 2016, while the forecast period is from 2017 to 2022.

The objectives of the report are as follows:

  • To define, describe, and forecast the global synthetic rubber market size on the basis of type, application, and region.
  • To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges).
  • To analyze the opportunities in the market for stakeholders and details of a competitive landscape for market leaders.
  • To forecast the market size, in terms of volume and value, with respect to five main regions, namely, North America, Europe, Asia Pacific, South America, and Middle East & Africa.
  • To strategically profile key players and comprehensively analyze their market shares and core competencies.
  • To track and analyze the competitive developments, such as joint ventures, mergers & acquisitions, new product developments, and research & development (R&D) in the global synthetic rubber market.

Research Methodology

A top-down approach has been used to estimate and validate the size of the synthetic rubber market and to estimate the sizes of various other dependent submarkets in the overall synthetic rubber market. The research study involved the extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg, Chemical Weekly, Factiva, and other government and private websites to identify and collect information useful for the technical, market-oriented, and commercial study of the synthetic rubber market.

Synthetic Rubber Market

To know about the assumptions considered for the study, download the pdf brochure

The supply chain of the synthetic rubber market starts with the sourcing of raw materials, followed by the manufacturing and processing of synthetic rubber, and the supplying of finished synthetic rubber products. It ends with the use of synthetic rubber in the various end-use applications. The major players in the synthetic rubber market include LANXESS (Germany), Sinopec (China), The Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corporation (Japan).

Key Target Audience:

  • Synthetic Rubber Manufacturing Companies
  • Traders, Distributors, and Retailers
  • Raw Material Suppliers
  • Commercial R&D Institutes
  • Research Institute, Trade Association, and Government Agencies

Scope of the report:

This research report categorizes the synthetic rubber market on the basis of type, application, and region.

On the basis of Type:

  • SBR
  • BR
  • SBC
  • EPDM
  • IIR
  • NBR

On the basis of Application:

  • Tire
  • Non-tire automotive
  • Footwear
  • Industrial

On the basis of Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

The market has been further analyzed for the key countries in each of these regions.

Available Customizations:

Along with the given market data, MarketsandMarkets offers customizations as per the specific needs of the companies. The following customization options are available for the report:

Country Information:

  • Synthetic rubber market analysis for additional countries

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)

Pricing Analysis:

  • Detailed pricing analysis for each type of synthetic rubber products

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Unit Considered
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 27)

4 Premium Insights (Page No. - 30)
    4.1 Attractive Opportunities in Synthetic Rubber Market
    4.2 APAC Synthetic Rubber Market, By Application and Country
    4.3 Synthetic Rubber Market, By Type
    4.4 Synthetic Rubber Market, By Region

5 Market Overview (Page No. - 32)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand From the Tire Industry
                    5.2.1.2 Growing Demand in APAC
           5.2.2 Restraints
                    5.2.2.1 Environmental Regulation and Health Hazards in the Synthetic Rubber Manufacturing Industry
           5.2.3 Opportunities
                    5.2.3.1 Growing Demand for High-Performance and Eco-Friendly Tires
           5.2.4 Challenges
                    5.2.4.1 Fluctuating Raw Material Prices
                    5.2.4.2 Overcapacity in APAC
    5.3 Porter’s Five Forces Analysis
           5.3.1 Threat of Substitutes
           5.3.2 Bargaining Power of Suppliers
           5.3.3 Bargaining Power of Buyers
           5.3.4 Intensity of Competitive Rivalry
           5.3.5 Threat of New Entrants
    5.4 Macroeconomic Indicators
           5.4.1 GDP Growth Rate Forecast of Major Economies
           5.4.2 Automotive Industry Analysis
           5.4.3 Tire Industry Analysis
           5.4.4 Rubber Industry Analysis

6 Synthetic Rubber Market, By Type (Page No. - 43)
    6.1 Introduction
    6.2 Styrene Butadiene Rubber (SBR)
    6.3 Polybutadiene Rubber (BR)
    6.4 Styrenic Block Copolymer (SBC)
    6.5 Ethylene Propylene Diene Monomer (EPDM)
    6.6 Butyl Rubber (IIR)
    6.7 Nitrile Butadiene Rubber (NBR)
    6.8 Others

7 Synthetic Rubber Market, By Application (Page No. - 59)
    7.1 Introduction
    7.2 Tire
    7.3 Non-Tire Automotive
    7.4 Footwear
    7.5 Industrial
    7.6 Others

8 Synthetic Rubber Market, By Region (Page No. - 70)
    8.1 Introduction
    8.2 North America
           8.2.1 US
           8.2.2 Canada
           8.2.3 Mexico
    8.3 Europe
           8.3.1 Germany
           8.3.2 France
           8.3.3 UK
           8.3.4 Italy
           8.3.5 Russia
           8.3.6 Rest of Europe
    8.4 APAC
           8.4.1 China
           8.4.2 Japan
           8.4.3 South Korea
           8.4.4 India
           8.4.5 Thailand
           8.4.6 Malaysia
           8.4.7 Rest of APAC
    8.5 South America
           8.5.1 Brazil
           8.5.2 Argentina
           8.5.3 Rest of South America
    8.6 Middle East & Africa
           8.6.1 Saudi Arabia
           8.6.2 South Africa
           8.6.3 Rest of Middle East & Africa

9 Competitive Landscape (Page No. - 119)
    9.1 Overview
    9.2 Market Share Analysis
    9.3 Competitive Scenario
           9.3.1 Expansions
           9.3.2 Joint Ventures
           9.3.3 Acquisitions
           9.3.4 Agreements

10 Company Profiles (Page No. - 124)
     10.1 LANXESS
     10.2 Sinopec
     10.3 The Goodyear Tire and Rubber Company
     10.4 Kumho Petrochemical
     10.5 TSRC Corporation
     10.6 Nizhnekamskneftekhim
     10.7 JSR Corporation
     10.8 LG Chem
     10.9 Versalis S.p.A.
     10.10 ZEONCorporation
     10.11 Other Key Market Players
             10.11.1 Petrochina
             10.11.2 Exxonmobil
             10.11.3 Sibur
             10.11.4 Group Dynasol
             10.11.5 Kraton Corporation
             10.11.6 Synthos
             10.11.7 Trinseo
             10.11.8 Asahi Kasei Advance Corporation
             10.11.9 American Synthetic Rubber Company
             10.11.10 Lion
             10.11.11 Firestone Polymers
             10.11.12 Indian Synthetic Rubber Private Limited
             10.11.13 Rishiroop
             10.11.14 UBE Industries
             10.11.15 Tosoh Corporation

11 Appendix (Page No. - 148)
     11.1 Insights From Industry Experts
     11.2 Discussion Guide
     11.3 Introducing RT: Real-Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports
     11.6 Author Details


List of Tables (120 Tables)

Table 1 High and Ultra-High Performance Tire Market Share, 2015
Table 2 Trends and Forecast of GDP Growth Rates, 2016–2022
Table 3 Automotive Production Statistics of Key Countries in 2016
Table 4 Rubber Production/Consumption Ratio in APAC
Table 5 Synthetic Rubber Types and their Applications
Table 6 Synthetic Rubber Market Size, By Type, 2015–2022 (Kiloton)
Table 7 Synthetic Rubber Market Size, By Type, 2015–2022 (USD Million)
Table 8 SBR Market Size, By Region, 2015–2022 (Kiloton)
Table 9 SBR Market Size, By Region, 2015–2022 (USD Million)
Table 10 BR Market Size, Region, 2015–2022 (Kiloton)
Table 11 BR Market Size, Region, 2015–2022 (USD Million)
Table 12 SBC Market Size, By Region, 2015–2022 (Kiloton)
Table 13 SBC Market Size, By Region, 2015–2022 (USD Million)
Table 14 EPDM Market Size, By Region, 2015–2022 (Kiloton)
Table 15 EPDM Market Size, By Region, 2015–2022 (USD Million)
Table 16 IIR Market Size, By Region, 2015–2022 (Kiloton)
Table 17 IIR Market Size, By Region, 2015–2022 (USD Million)
Table 18 NBR Market Size, By Region, 2015–2022 (Kiloton)
Table 19 NBR Market Size, By Region, 2015–2022 (USD Million)
Table 20 Other Synthetic Rubbers Market Size, By Region, 2015–2022 (Kiloton)
Table 21 Other Synthetic Rubbers Market Size, By Region, 2015–2022 (USD Million)
Table 22 Synthetic Rubber Market Size, By Application, 2015–2022 (Kiloton)
Table 23 Synthetic Rubber Market Size, By Application, 2015–2022 (USD Million)
Table 24 By Market Size in Tire, By Region, 2015–2022 (Kiloton)
Table 25 By Market Size in Tire, By Region, 2015–2022 (USD Million)
Table 26 By Market Size in Non-Tire Automotive, By Region, 2015–2022 (Kiloton)
Table 27 By Market Size in Non-Tire Automotive, By Region, 2015–2022 (USD Million)
Table 28 By Market Size in Footwear, By Region, 2015–2022 (Kiloton)
Table 29 By Market Size in Footwear, By Region, 2015–2022 (USD Million)
Table 30 By Market Size in Industrial, By Region, 2015–2022 (Kiloton)
Table 31 By Market Size in Industrial, By Region, 2015–2022 (USD Million)
Table 32 By Market Size in Other Applications, By Region, 2015–2022 (Kiloton)
Table 33 By Market Size in Other Applications, By Region, 2015–2022 (USD Million)
Table 34 By Market Size, By Region, 2015–2022 (Kiloton)
Table 35 By Market Size, By Region, 2015–2022 (USD Billion)
Table 36 North America: Synthetic Rubber Market Size, By Country, 2015–2022 (Kiloton)
Table 37 North America: By Market Size, By Country, 2015–2022 (USD Million)
Table 38 North America: By Market Size, By Type, 2015–2022 (Kiloton)
Table 39 North America: By Market Size, By Type, 2015–2022 (USD Million)
Table 40 North America: By Market Size, By Application, 2015–2022 (Kiloton)
Table 41 North America: By Market Size, By Application, 2015–2022 (USD Million)
Table 42 US: Synthetic Rubber Market Size, By Type, 2015–2022 (Kiloton)
Table 43 US: Synthetic Rubber Market Size, By Application, 2015–2022 (Kiloton)
Table 44 List of Major Tire Producing States/Provinces in North America, 2015
Table 45 Canada: Synthetic Rubber Market Size, By Type, 2015–2022 (Kiloton)
Table 46 Canada: By Market Size, By Application, 2015–2022 (Kiloton)
Table 47 Mexico: By Market Size, By Type, 2015–2022 (Kiloton)
Table 48 Mexico: By Market Size, By Application, 2015–2022 (Kiloton)
Table 49 Europe: By Market Size, By Country, 2015–2022 (Kiloton)
Table 50 Europe: By Market Size, By Country, 2015–2022 (USD Million)
Table 51 Europe: By Market Size, By Type, 2015–2022 (Kiloton)
Table 52 Europe: By Market Size, By Type, 2015–2022 (USD Million)
Table 53 Europe: By Market Size, By Application, 2015–2022 (Kiloton)
Table 54 Europe: By Market Size, By Application, 2015–2022 (USD Million)
Table 55 Germany: By Market Size, By Type, 2015–2022 (Kiloton)
Table 56 Germany: By Market Size, By Application, 2015–2022 (Kiloton)
Table 57 France: By Market Size, By Type, 2015–2022 (Kiloton)
Table 58 France: By Market Size, By Application, 2015–2022 (Kiloton)
Table 59 UK: Synthetic Rubber Market Size, By Type, 2015–2022 (Kiloton)
Table 60 UK: By Market Size, By Application, 2015–2022 (Kiloton)
Table 61 Italy: By Market Size, By Type, 2015–2022 (Kiloton)
Table 62 Italy: By Market Size, By Application, 2015–2022 (Kiloton)
Table 63 Russia: By Market Size, By Type, 2015–2022 (Kiloton)
Table 64 Russia: By Market Size, By Application, 2015–2022 (Kiloton)
Table 65 Rest of Europe: By Market Size, By Type, 2015–2022 (Kiloton)
Table 66 Rest of Europe: By Market Size, By Application, 2015–2022 (Kiloton)
Table 67 APAC: Synthetic Rubber Market Size, By Country, 2015–2022 (Kiloton)
Table 68 APAC: By Market Size, By Country, 2015–2022 (USD Million)
Table 69 APAC: By Market Size, By Type, 2015–2022 (Kiloton)
Table 70 APAC: By Market Size, By Type, 2015–2022 (USD Million)
Table 71 APAC: By Market Size, By Application, 2015–2022 (Kiloton)
Table 72 APAC: By Market Size, By Application, 2015–2022 (USD Million)
Table 73 Top 10 Consumer Tire Producers in China, By Capacity, 2014 (Million Units)
Table 74 Passenger Tire Production and Sale in China, 2009-2013 (Million Units)
Table 75 Synthetic Rubber Import and Export in China, 2011-2015
Table 76 China: Synthetic Rubber Market Size, By Type, 2015–2022 (Kilotons)
Table 77 China: By Market Size, By Application, 2015–2022 (Kiloton)
Table 78 Japan: By Market Size, By Type, 2015–2022 (Kiloton)
Table 79 Japan: By Market Size, By Application, 2015–2022 (Kiloton)
Table 80 South Korea: By Market Size, By Type, 2015–2022 (Kiloton)
Table 81 South Korea: By Market Size, By Application, 2015–2022 (Kiloton)
Table 82 India: By Market Size, By Type, 2015–2022 (Kiloton)
Table 83 India: By Market Size, By Application, 2015–2022 (Kiloton)
Table 84 Thailand: By Market Size, By Type, 2015–2022 (Kiloton)
Table 85 Thailand: By Market Size, By Application, 2015–2022 (Kiloton)
Table 86 Major Manufacturers in Thailand
Table 87 Malaysia: By Market Size, By Type, 2015–2022 (Kiloton)
Table 88 Malaysia: By Market Size, By Application, 2015–2022 (Kiloton)
Table 89 Rest of APAC: By Market Size, By Type, 2015–2022 (Kiloton)
Table 90 Rest of APAC: By Market Size, By Application, 2015–2022 (Kiloton)
Table 91 South America: By Market Size, By Country, 2015–2022 (Kiloton)
Table 92 South America: By Market Size, By Country, 2015–2022 (USD Million)
Table 93 South America: By Market Size, By Type, 2015–2022 (Kiloton)
Table 94 South America: By Market Size, By Type, 2015–2022 (USD Million)
Table 95 South America: By Market Size, By Application, 2015–2022 (Kiloton)
Table 96 South America: By Market Size, By Application, 2015–2022 (USD Million)
Table 97 Brazil: By Market Size, By Type, 2015–2022 (Kiloton)
Table 98 Brazil: By Market Size, By Application, 2015–2022 (Kiloton)
Table 99 Argentina: By Market Size, By Type, 2015–2022 (Kiloton)
Table 100 Argentina: By Market Size, By Application, 2015–2022 (Kiloton)
Table 101 Rest of South America: By Market Size, By Type, 2015–2022 (Kiloton)
Table 102 Rest of South America: By Market Size, By Application, 2015–2022 (Kiloton)
Table 103 Middle East & Africa: By Market Size, By Country, 2015–2022 (Kiloton)
Table 104 Middle East & Africa: By Market Size, By Country, 2015–2022 (USD Million)
Table 105 Middle East & Africa: By Market Size, By Type, 2015–2022 (Kiloton)
Table 106 Middle East & Africa: By Market Size, By Type, 2015–2022 (USD Million)
Table 107 Middle East & Africa: By Market Size, By Application, 2015–2022 (USD Million)
Table 108 Middle East & Africa: By Market Size, By Application, 2015–2022 (Kiloton)
Table 109 Automotive Components Manufacturers in Saudi Arabia
Table 110 Saudi Arabia: Automotive Parts Import-Export Overview, 2015
Table 111 Saudi Arabia: By Market Size, By Type, 2015–2022 (Kiloton)
Table 112 Saudi Arabia: By Market Size, By Application, 2015–2022 (Kiloton)
Table 113 South Africa: By Market Size, By Type, 2015–2022 (Kiloton)
Table 114 South Africa: By Market Size, By Application, 2015–2022 (Kiloton)
Table 115 Rest of Middle East & Africa: By Market Size, By Type, 2015–2022 (Kiloton)
Table 116 Rest of Middle East & Africa: By Market Size, By Application, 2015–2022 (Kiloton)
Table 117 Expansions, 2011–2017
Table 118 Joint Ventures, 2011–2017
Table 119 Acquisitions, 2011–2017
Table 120 Agreements, 2011–2017


List of Figures (57 Figures)

Figure 1 Synthetic Rubber Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Synthetic Rubber Market: Data Triangulation
Figure 5 SBR to Lead the Synthetic Rubber Market Between 2017 and 2022
Figure 6 Tire Segment to Lead the Synthetic Rubber Market Between 2017 and 2022
Figure 7 APAC to Witness Significant Market Growth During the Forecast Period
Figure 8 Demand From Tire Application to Drive Synthetic Rubber Market
Figure 9 China to Be the Largest Synthetic Rubber Market Between 2017 and 2022
Figure 10 SBR to Lead the Synthetic Rubber Market Between 2017 and 2022
Figure 11 APAC to Lead the Synthetic Rubber Market Between 2017 and 2022
Figure 12 Overview of Factors Governing the Synthetic Rubbers Market
Figure 13 Porter’s Five Forces Analysis
Figure 14 Top 10 Vehicle Producing Countries in 2015
Figure 15 Top 10 Tire Producing Countries in 2015
Figure 16 Major Tire Manufacturers
Figure 17 SBR Accounted for the Largest Market Share in 2016
Figure 18 APAC to Be the Fastest-Growing SBR Market Between 2017 and 2022
Figure 19 APAC to Be the Largest BR Market Between 2017 and 2022
Figure 20 Europe to Be the Second-Largest SBC Market Between 2017 and 2022
Figure 21 Middle East & Africa to Be the Second Fastest-Growing EPDM Market During the Forecast Period
Figure 22 Middle East & Africa to Be the Second Fastest-Growing IIR Market Between 2017 and 2022
Figure 23 APAC to Be the Largest NBR Market in 2017
Figure 24 Middle East & Africa to Be the Fastest-Growing Market for Other Synthetic Rubbers
Figure 25 Tire Accounted for the Largest Market Share in 2016
Figure 26 APAC to Be the Fastest-Growing Synthetic Rubber Market in Tire Application Between 2017 and 2022
Figure 27 APAC to Lead the Market in Non-Tire Automotive Application During the Forecast Period
Figure 28 APAC to Lead the Synthetic Rubber Market in Footwear Application Between 2017 and 2022
Figure 29 Middle East & Africa to Be the Fastest-Growing Market in Industrial Application Between 2017 and 2022
Figure 30 APAC to Lead the Synthetic Rubber Market in Other Applications During the Forecast Period
Figure 31 Regional Snapshot: China to Lead the Synthetic Rubber Market Between 2017 and 2022
Figure 32 North American Tire Manufacturers, 2015
Figure 33 APAC Market Snapshot: China to Be the Largest Synthetic Rubber Market
Figure 34 Tire Production China, 2001–2015
Figure 35 Synthetic Rubber Manufacturers Market Share in China, 2015
Figure 36 Synthetic Rubber Manufacturers Market Share in Japan, 2015
Figure 37 Tire Manufacturers Market Share in Japan, 2015
Figure 38 Tire Manufacturers Market Share in India, 2016
Figure 39 Truck and Bus Tire Production in India, 2001–2015
Figure 40 Synthetic Rubber Imports in Thailand, 2011–2015
Figure 41 Synthetic Rubber Imports in Thailand, By Application, 2015
Figure 42 Consumption of Rubber in Malaysia in 2015
Figure 43 Contribution of Malaysia Rubber Industry to National Exports in 2015
Figure 44 Middle East & Africa Market Snapshot: Saudi Arabia to Be the Largest Synthetic Rubber Market
Figure 45 Automobile Market Share of Key Players in Saudi Arabia in 2013
Figure 46 Joint Venture is the Key Strategy Adopted By Leading Players Between 2011 and 2017
Figure 47 Market Share of Key Players, 2015
Figure 48 LANXESS: Company Snapshot
Figure 49 Sinopec: Company Snapshot
Figure 50 The Goodyear Tire and Rubber Company: Company Snapshot
Figure 51 Kumho Petrochemical: Company Snapshot
Figure 52 TSRC Corporation: Company Snapshot
Figure 53 Nizhnekamskneftekhim: Company Snapshot
Figure 54 JSR Corporation: Company Snapshot
Figure 55 LG Chem: Company Snapshot
Figure 56 Versalis S.p.A.: Company Snapshot
Figure 57 ZEON Corporation: Company Snapshot

The synthetic rubber market is estimated to be USD 28.88 Billion in 2017 and is projected to reach USD 37.82 Billion by 2022, registering a CAGR of 5.5% between 2017 and 2022. Rising use of synthetic rubbers in the tire and non-tire automotive applications, growing trend of using synthetic rubbers in automotive to reduce the weight of vehicles for fuel efficiency, and increasing demand from Asia Pacific are the major factors expected to drive the global synthetic rubber market during the forecast period.

The synthetic rubber market is segmented based on type into SBR, BR, SBC, EPDM, IIR, and NBR. SBR (styrene butadiene rubber) is the most widely used type of synthetic rubber and is used in large quantities in automobile and truck tires, due to its abrasion-resistant quality. SBR produced in latex form is used as a rubbery adhesive in carpet manufacturing. Other applications of SBR include drive couplings, haul-off pads, conveyor belts, shoe soles and heels, adhesives, roll coverings and car tires (but not truck tires), and various other molded rubber goods.

Based on application, the synthetic rubber market is classified into four segments, namely, tire, non-tire automotive, footwear, and industrial. The tire segment is estimated to be the largest application segment of the synthetic rubber market. Synthetic rubber offers various extraordinary features to tires, such as safety, control, grip, and comfort. It also provides various other features, such as directional stability, rolling resistance, wet traction, puncture resistance, steering response, speed and run-flat capability, impact resistance, high fuel efficiency, and weather resistance to function in challenging conditions. The increasing demand for tires offering smoother and quieter ride with better fuel efficiency has compelled tire manufacturers to use better materials, such as synthetic rubber and silane. Synthetic tires are widely used in military vehicles and heavy-duty vehicles.

Synthetic Rubber Market

Asia Pacific is estimated to be the largest market for synthetic rubber in 2017 and is also projected to register the highest CAGR during the forecast period. China is expected to account for the largest share of the Asia Pacific synthetic rubber market till 2022 and is also expected to be the fastest-growing market for synthetic rubber during the forecast period. Major producers of synthetic rubber, such as Sinopec (China), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), JSR Corporation (Japan), LG Chem (South Korea), and ZEON Corporation (Japan) are located in the Asia Pacific region. Europe is estimated to account for the second-largest share of the global synthetic rubber market.

The key players in the synthetic rubber market include LANXESS (Germany), Sinopec (China), The Goodyear Tire and Rubber Company (US), Kumho Petrochemical (South Korea), TSRC Corporation (Taiwan), Nizhnekamskneftekhim (Russia), JSR Corporation (Japan), LG Chem (South Korea), Versalis S.p.A. (Italy), and ZEON Corporation (Japan). These companies have majorly adopted the expansion strategy to increase their market share and cater to the increasing demand for synthetic rubber products. For example, in 2013, LANXESS opened a new butyl rubber plant on Jurong Island, Singapore. The company invested USD 531.7 million in the plant, which has a capacity of 100,000 metric tons. Through this expansion, the company aims to serve the growing demand for synthetic rubbers in Asia. Apart from expansion, the market players have also adopted new product development and agreement strategies to expand their market share and product portfolio in the synthetic rubber market between 2014 and 2017.

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