Synthetic Rubber Market

Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR) Application (Tire, Automotive (Non-tire), Footwear, Industrial Goods, Consumer Goods, Textile), Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2026

Report Code: CH 1217 May, 2021, by marketsandmarkets.com

[200 Pages Report] The global synthetic rubber market size is estimated to be USD 19.1 billion in 2021 and is projected to reach USD 23.2 billion by 2026, at a CAGR of 4.0% between 2021 and 2026.  . The synthetic rubber market is driven by the recovery of the automotive sector during the forecast period.  APAC is dominating region for the automotive sector in the countries like China, India, and other Southeast Asian countries.

Synthetic Rubber Market

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COVID-19 impact on the global synthetic rubber market

In 2020, the synthetic rubber market declined by 11.2% in terms of volume, compared to 2019, due to COVID-19 pandemic.  The supply chain disruption and decline in end-use industries impacted the synthetic rubber market in 2020, amid pandemic. The end-use industries like automotive also showed a reduction in production by 26% for first three quarters of 2020 compared to similar period in 2019. The decline in demand from end-use industries further impacted synthetic rubber production.

Synthetic rubber market dynamics

Driver: Expected recovery from the impact of COVID-19 and growing penetration of EVs

Since 2019, conventional automobile production is affected due to declining sales, shifting consumer preferences towards EVs, changing regulatory scenarios, shift toward car rentals and ridesharing, declining per-capita spending, and economic downturn in several countries. Furthermore, due to the COVID-19 pandemic and the subsequent suspension of manufacturing operations, the demand for automotive vehicles declined in 2020.

According to OICA, in 2019, automobile production declined by 5.2%, which further decreased in 2020 due to the COVID-19 pandemic. In 2020, global automobile production slumped by 15.8% compared to 2019.

The Asia Pacific region accounts for more than 50% of global automobile production.  China, India, Japan, and South Asian countries are largely involved in automobile production. Technological developments and innovations in the automotive sector will further enhance the synthetic rubber market in these countries. The automotive industry in Asia is expected to recover by 2022 with steady improvement in the Chinese automotive industry.

  • According to the China Association of Automobile Manufacturers, even though the automotive sector declined initially due to COVID-19 in China, vehicle production in March 2020 increased compared to March 2019. The demand for new energy vehicles (electric vehicles and hybrid vehicles) increased. The automobile sales for 2020, 2019, and 2018 were 25.28 million units, 25.76 million units, and 28.04 million units. In the second half of 2020, automobile sales surpassed the 2017-2018 level.
  • According to the National Investment Promotion and Facilitation Agency of India, electric vehicle production surpassed the 3 million mark for the first time in 2020. The demand for electric vehicles is expected to increase further in the near future. Automobile production is expected to reach USD 300 billion by 2026.

Synthetic rubber is used in electric vehicles due to its high-performance characteristics compared to traditional metals and other materials. The changing regulatory scenario and government policies to support EVs support the growth of the synthetic rubber market. During the COVID-19 pandemic, the sale of EVs in Europe increased by 137%, mainly driven by incentives offered under green recovery funds. Europe has outpaced China in terms of sales and is expected to grow substantially in the coming years.

Thus, with the recovery of the automotive industry and increasing penetration of EVs worldwide, the demand for synthetic rubber is expected to increase during the forecast period.

Restraints: Environmental regulation and health hazards in synthetic rubber manufacturing industry

The stringent environmental regulations have led to the restriction on the production of synthetic rubber. The Environmental Protection Agency (EPA) has identified rubber processing, tire manufacturing facilities, and sealants production as a major source of hazardous air pollutants (HAP) emissions. For example, butadiene rubber (BR), a type of synthetic rubber, produces hazardous substances such as carbon dioxide, carbon monoxide, and other toxic fumes and gases during the production process.

There are a number of regulations for the synthetic rubber industry; for instance, butadiene was listed as a toxic substance under the Canadian Environmental Protection Act, 1999 (CEPA 1999). Such regulations have restricted the growth of the global synthetic rubber market.

The chemicals used in synthetic rubber manufacturing are butadiene, styrene, acrylonitrile, and polymerization catalysts such as hydrogen peroxide, sodium perborate, and organic peroxides. Acrylonitrile is acutely toxic to humans at a relatively low level. Its excess exposure can be lethal for humans. During the production, exposure to SBR has caused deaths of workers due to leukemia.

Exposure to butadiene rubber (BR) also causes adverse health issues. It is considered a special health hazard substance; when inhaled, it can cause irritation in the nose, throat, and lungs; when in contact with the skin, it causes irritation and is considered carcinogenic. Excessive exposure to polybutadiene affects the central nervous system and shows symptoms such as blurred vision, vertigo, general tiredness, and fainting. All these factors act as a restraint to the growth of the synthetic rubber market.

Opportunity: Growing demand for high-performance and eco-friendly tires

The growing concern about the worsening environmental conditions has increased the demand for eco-friendly products such as green tires. European and North American countries are adopting stringent regulations, such as Euro VI and CAFE, which make tire manufacturers focus on developing green and high-performance tires.

The European Tire Labelling Regulation, 2012 stated that the data related to the fuel efficiency, wet grip, and external rolling resistance of tires should be displayed on the label. This regulation has helped to create awareness among the customers to buy high-performance tires that are eco-friendly. This resulted in OEMs focusing on tire performance and fuel efficiency by launching fuel-efficient, low rolling resistance tires. Tier 1 manufacturers are using eco-friendly rubber material. For instance, LANXESS provides neodymium rubber that helps in the reduction of rolling resistance, thereby increasing the fuel economy. The company also provides products that are used in green tire manufacturing. Thus, the demand for high-performance and eco-friendly tires provides opportunities for the market players.

Challenges: Volatile raw material prices

Volatile raw material price is one of the major challenges faced by the synthetic rubber market players. The market for synthetic rubber is very competitive; even small changes in the supply and demand balances are reflected in its prices. Price and availability of raw materials are key factors for synthetic rubber manufacturers in determining the cost structure of their products. Since synthetic rubber feedstock is derived from crude oil, any rise in crude oil prices increases the cost of production and reduces the profit margins of the manufacturers of synthetic rubber. Price is a major determining factor for many end users in the global synthetic rubber market.

The synthetic rubber industry is also affected by high transport costs and high manufacturing costs resulting from increasing energy costs. Synthetic rubber manufacturers have responded by passing on such price rise to end users, which decreases the demand for synthetic rubber as certain end-use segments are price sensitive.

Ecosystem Diagram

Synthetic Rubber Market by Ecosystem Diagram

Tire: the largest end use application of synthetic rubber market

Tire is the largest application in the synthetic rubber market. Synthetic rubber offers various extraordinary features to tires, such as safety, control, grip, and comfort. Likewise, it provides the tire with 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 impact of COVID-19 on the global tire business is detrimental. Some manufacturing units were shut down because of the impact of COVID-19 on the companies. The demand for synthetic rubber slumped significantly in 2020 due to supply chain disruption and reduced demand from end-use industries.

APAC estimated to be the fastest-growing market for synthetic rubber.

APAC accounted for the largest share in terms of volume and value of the synthetic rubber market in 2020, followed by Europe and North America. The use of synthetic rubber is expected to witness the highest growth in the APAC region during the forecast period. The market in this region is driven by the recovery of the automotive sector in China and Southeast Asian countries. Global automobile manufacturers are investing in APAC countries to establish their production plants to enhance their market presence in the region. China is the significant market for automobile and the largest consumer of synthetic rubber in the world. The focus towards the development of New Energy Vehicles (NEVs) to reduce carbon footprint will drive the automotive application in China which will further enhance the demand of synthetic rubber during the forecast period.

Synthetic Rubber Market by Region

Key Market Players

The leading players in the synthetic market are Sinopec (China), DuPont (U.S), The Dow Chemical Company (U.S), ExxonMobil (U.S), Kumho Petrochemical Company Ltd (South Korea), Trinseo (U.S), Zeon Corporation (Japan), Nizhnekamskneftekhim (Russia), The Goodyear Tire and Rubber Company (U.S), SIBUR (Russia), Mitsui Chemical Inc. (Japan), LG Chemical (South Korea), LANXESS (Germany), JSR Corporation (Japan), SABIC (Saudi Arabia), Denka Company Ltd. (Japan), and Asahi Kasei Corporation (Japan).

Scope of the report

Report Metric

Details

Years Considered

2019–2026

Base year

2020

Forecast period

2021–2026

Unit considered 

Value (USD Million), Volume (Kilotons)

Segments

Type, Application, and Region

Regions

APAC, North America, Europe, Middle East & Africa and South America

Companies

The major players are Company Sinopec (China), DuPont (U.S), The Dow Chemical Company (U.S), ExxonMobil (U.S), Kumho Petrochemical Company Ltd (South Korea), Trinseo (U.S), Zeon Corporation (Japan), Nizhnekamskneftekhim (Russia), The Goodyear Tire and Rubber Company (U.S), SIBUR (Russia), Mitsui Chemical Inc. (Japan), LG Chemical (South Korea), LANXESS (Germany), JSR Corporation (Japan), SABIC (Saudi Arabia), Denka Company Ltd. (Japan), and Asahi Kasei Corporation (Japan) covered in the synthetic rubber market.

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

On the basis of type:

  • Styrene-butadiene rubber (SBR)
  • Polybutadiene Rubber (BR)
  • Styrene block copolymer (SBC)
  • Ethylene-propylene-diene rubber (EPDM)
  • Butyl rubber (IIR)
  • Acrylonitrile-butadiene rubber (NBR)

On the basis of application

  • Tire
  • Automotive (Non-tire)
  • Footwear
  • Industrial Goods
  • Consumer Goods
  • Textile
  • Others

On the basis of region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)
  • South America

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

Recent Developments

  • In March 2020, Asahi Kasei Company acquired Veloxis Pharmaceuticals Inc. (US). This acquisition will strengthen the presence of the company in the pharmaceutical sector.
  • In September 2019, Sibur and Sinopec entered into a joint venture to produce nitrile rubber in Russia to meet the local demand.
  • In January 2018, SABIC agreed to acquire approximately 83 million shares in Clariant AG, a global specialty chemicals company, from 40 North and Corvex Management. The acquisition of this approximately 24.9% stake in Clariant AG will make SABIC the largest Clariant AG shareholder and represents another key milestone in SABIC's growth and diversification strategy to become the world leader in chemicals.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 27)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 INCLUSIONS AND EXCLUSIONS
                    FIGURE 1 SYNTHETIC RUBBER MARKET SEGMENTATION
           1.2.2 REGIONS COVERED
           1.2.3 YEARS CONSIDERED FOR THE STUDY
    1.3 CURRENCY
    1.4 UNIT CONSIDERED
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 31)
    2.1 RESEARCH DATA
           FIGURE 2 SYNTHETIC RUBBER MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Critical secondary inputs
                    2.1.1.2 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Critical primary inputs
                    2.1.2.2 Key data from primary sources
                    2.1.2.3 Key industry insights
                    2.1.2.4 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION APPROACH
           2.2.1 BOTTOM-UP MARKET SIZE ESTIMATION: ASSESSMENT OF OVERALL SYNTHETIC RUBBER MARKET SIZE BASED ON INDIVIDUAL PRODUCT MARKET SIZE AND MARKET SHARE
                    FIGURE 3 MARKET SIZE ESTIMATION: SUPPLY-SIDE ANALYSIS
                    FIGURE 4 MARKET SIZE ESTIMATION: BY TYPE
           2.2.2 ESTIMATING SYNTHETIC RUBBER MARKET SIZE FROM THE MARKET SHARES OF KEY END-USE APPLICATIONS
                    FIGURE 5 MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS
    2.3 DATA TRIANGULATION
           FIGURE 6 SYNTHETIC RUBBER MARKET: DATA TRIANGULATION
    2.4 ASSUMPTIONS

3 EXECUTIVE SUMMARY (Page No. - 38)
    FIGURE 7 STYRENE-BUTADIENE RUBBER ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2020
    FIGURE 8 TIRE SEGMENT TO LEAD THE SYNTHETIC RUBBER MARKET BETWEEN 2021 AND 2026
    FIGURE 9 APAC SYNTHETIC RUBBER MARKET TO WITNESS SIGNIFICANT GROWTH DURING THE FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 41)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE SYNTHETIC RUBBER MARKET
           FIGURE 10 GROWING DEMAND FROM TIRE APPLICATION TO DRIVE THE SYNTHETIC RUBBER MARKET
    4.2 APAC: SYNTHETIC RUBBER MARKET, BY TYPE AND COUNTRY (2020)
           FIGURE 11 STYRENE-BUTADIENE RUBBER ACCOUNTED FOR THE LARGEST SHARE
    4.3 SYNTHETIC RUBBER MARKET, BY KEY COUNTRIES
           FIGURE 12 INDIA TO REGISTER THE HIGHEST CAGR

5 MARKET OVERVIEW (Page No. - 43)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 13 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE SYNTHETIC RUBBER MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Expected recovery from impact of COVID-19 and growing penetration of EVs
                               FIGURE 14 AUTOMOBILE PRODUCTION DATA (2017-2020)
                    5.2.1.2 Stringent emission regulations and standards in developed countries
                    5.2.1.3 Growing demand in China
           5.2.2 RESTRAINTS
                    5.2.2.1 Environmental regulations and health hazards in synthetic rubber manufacturing industry
                    5.2.2.2 Economic slowdown and impact of COVID-19 on the manufacturing sector
                               FIGURE 15 EUROPE: MANUFACTURING INDUSTRY OUTPUT INDEX
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing demand for high-performance and eco-friendly tires
                    5.2.3.2 Growth in electric vehicle adoption to provide new revenue stream for synthetic rubber manufacturers
                               TABLE 1 TYPE OF RUBBER USED IN ELECTRIC VEHICLE AND INTERNAL COMBUSTION ENGINE
           5.2.4 CHALLENGES
                    5.2.4.1 Volatile raw material prices
                               FIGURE 16 FLUCTUATIONS IN CRUDE OIL PRICES BETWEEN 2010 AND 2021
    5.3 PORTER'S FIVE FORCES ANALYSIS
           FIGURE 17 SYNTHETIC RUBBER MARKET: PORTER'S FIVE FORCES ANALYSIS
           5.3.1 BARGAINING POWER OF SUPPLIERS
           5.3.2 THREAT OF NEW ENTRANTS
           5.3.3 THREAT OF SUBSTITUTES
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 MACROECONOMIC INDICATOR
           5.4.1 AUTOMOTIVE INDUSTRY
                    TABLE 2 PRODUCTION OF PASSENGER CARS, COMMERCIAL VEHICLES, TRUCKS, AND BUSES
                    TABLE 3 WORLD GDP GROWTH PROJECTION
    5.5 SUPPLY CHAIN ANALYSIS
           TABLE 4 SYNTHETIC RUBBER MARKET: SUPPLY CHAIN
           FIGURE 18 SUPPLY CHAIN ANALYSIS OF SYNTHETIC RUBBER MARKET
           5.5.1 IMPACT OF COVID-19 ON SUPPLY CHAIN
    5.6 ECOSYSTEM/MARKET MAPPING
    5.7 YC & YCC SHIFT
           FIGURE 19 NEXT-GEN MOBILITY, LIGHT-WEIGHTING, DIGITALIZATION, AND IMPROVED MEDICAL CARE WILL CHANGE FUTURE REVENUE MIX OF SUPPLIERS
           TABLE 5 YC, YCC SHIFT FOR SYNTHETIC RUBBER MARKET
    5.8 PATENT ANALYSIS
           5.8.1 INTRODUCTION
           5.8.2 METHODOLOGY
           5.8.3 DOCUMENT TYPE
                    FIGURE 20 NUMBER OF PATENTS IN LAST 11 YEARS
           5.8.4 PUBLICATION TRENDS
                    FIGURE 21 NUMBER OF PATENTS, YEAR-WISE IN LAST 11 YEARS
           5.8.5 TOP COMPANIES/APPLICANTS
                    FIGURE 22 TOP 10 COMPANIES/APPLICANTS WITH THE HIGHEST NUMBER OF PATENTS
           5.8.6 JURISDICTION ANALYSIS
                    FIGURE 23 SHARE OF PATENTS, BY JURISDICTION
    5.9 VALUE CHAIN ANALYSIS
           5.9.1 INTRODUCTION
           5.9.2 VALUE CHAIN ANALYSIS
                    FIGURE 24 VALUE CHAIN OF SYNTHETIC RUBBER
    5.10 COVID-19 IMPACT
           5.10.1 COVID-19 ECONOMIC ASSESSMENT
           5.10.2 MAJOR ECONOMIC EFFECT OF COVID-19
                     FIGURE 25 EFFECTS ON GDP OF COUNTRIES
                     FIGURE 26 SLOW RECOVERY IN DEMAND FOR SYNTHETIC RUBBER

6 SYNTHETIC RUBBER MARKET, BY TYPE (Page No. - 64)
    6.1 INTRODUCTION
           FIGURE 27 SBR TO HOLD THE LARGEST SHARE OF THE MARKET
           TABLE 6 SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
           TABLE 7 SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
    6.2 STYRENE-BUTADIENE RUBBER (SBR)
           6.2.1 GROWTH OF THE TIRE INDUSTRY TO DRIVE SBR DEMAND
                    TABLE 8 STYRENE BUTADIENE RUBBER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
                    TABLE 9 STYRENE BUTADIENE RUBBER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    6.3 POLYBUTADIENE RUBBER (BR)
           6.3.1 INCREASING CONSUMPTION OF BR IN APAC WILL SUPPORT MARKET GROWTH
                    TABLE 10 POLYBUTADIENE RUBBER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
                    TABLE 11 POLYBUTADIENE RUBBER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    6.4 STYRENIC BLOCK COPOLYMER (SBC)
           6.4.1 GROWTH OF THE AUTOMOTIVE INDUSTRY TO DRIVE SBC DEMAND
                    TABLE 12 STYRENIC BLOCK COPOLYMER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
                    TABLE 13 STYRENIC BLOCK COPOLYMER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    6.5 ETHYLENE PROPYLENE DINE MONOMER (EPDM)
           6.5.1 GROWTH IN AUTOMOTIVE INDUSTRY TO DRIVE THE EPDM MARKET
                    TABLE 14 ETHYLENE PROPYLENE DINE MONOMER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
                    TABLE 15 ETHYLENE PROPYLENE DINE MONOMER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    6.6 BUTYL RUBBER (IIR)
           6.6.1 THE PROPERTIES OF IIR WILL DRIVE THE MARKET IN THE AUTOMOTIVE INDUSTRY
                    FIGURE 28 DEMAND FOR IIR, BY REGION (2020)
                    TABLE 16 BUTYL RUBBER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
                    TABLE 17 BUTYL RUBBER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    6.7 ACRYLONITRILE BUTADIENE RUBBER (NBR)
           6.7.1 DEMAND FROM APAC TO REGISTER STEADY GROWTH DURING THE FORECAST PERIOD
                    TABLE 18 ACRYLONITRILE BUTADIENE RUBBER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
                    TABLE 19 ACRYLONITRILE BUTADIENE RUBBER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    6.8 OTHERS
           6.8.1 ADVANCE PROPERTIES OF POLYISOPRENE MAKE IT SUITABLE FOR SEVERAL INDUSTRIAL APPLICATIONS
                    TABLE 20 OTHER SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
                    TABLE 21 OTHER SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)

7 SYNTHETIC RUBBER MARKET, BY APPLICATION (Page No. - 76)
    7.1 INTRODUCTION
           FIGURE 29 TIRE SEGMENT TO HOLD THE LARGEST SHARE OF THE MARKET
           TABLE 22 SYNTHETIC RUBBER MARKET, BY APPLICATION
           TABLE 23 SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2019–2026 (KILOTON)
           TABLE 24 SYNTHETIC RUBBER MARKET SIZE, BY APPLICATION, 2019–2026 (USD MILLION)
    7.2 TIRE
           7.2.1 EXPECTED RECOVERY IN AUTOMOTIVE INDUSTRY FROM THE IMPACT OF COVID-19 TO PROPEL THE MARKET
                    FIGURE 30 GLOBAL TIRE MARKET SHARE, BY KEY COMPANY, 2020
                    FIGURE 31 VALUE CREATION OPPORTUNITIES FOR TIRE MANUFACTURERS BY 2030
           7.2.2 IMPACT OF DISRUPTIVE TECHNOLOGIES IN TIRES & TUBES
                    FIGURE 32 TIRE FOR EV: INCREASE IN DEMAND FOR PERFORMANCE
                    TABLE 25 SYNTHETIC RUBBER MARKET SIZE IN TIRE SEGMENT, BY REGION, 2019–2026 (KILOTON)
                    TABLE 26 SYNTHETIC RUBBER MARKET SIZE IN TIRE SEGMENT, BY REGION, 2019–2026 (USD MILLION)
    7.3 AUTOMOTIVE (NON-TIRE)
           7.3.1 GROWTH IN ELECTRIC VEHICLES PRODUCTION TO DRIVE THE DEMAND
                    FIGURE 33 SALE OF ELECTRIC VEHICLES IN VOLUME (UNIT), BY REGION, 2019-2020
                    FIGURE 34 PASSENGER CAR MARKETS TREND INDEX (2019=100)
                    TABLE 27 VEHICLE PRODUCTION DATA, BY COUNTRY, 2019–2020
                    TABLE 28 SYNTHETIC RUBBER MARKET SIZE IN NON-TIRE AUTOMOTIVE SEGMENT, BY REGION, 2019–2026 (KILOTON)
                    TABLE 29 SYNTHETIC RUBBER MARKET SIZE IN NON-TIRE AUTOMOTIVE SEGMENT, BY REGION, 2019–2026 (USD MILLION)
    7.4 FOOTWEAR
           7.4.1 ADVANCED PROPERTIES IMPARTED BY SR TO DRIVE THE MARKET
                    FIGURE 35 GLOBAL FOOTWEAR PRODUCTION SHARE, BY REGION, 2020
                    FIGURE 36 GLOBAL FOOTWEAR PRODUCTION SHARE, BY COUNTRY, 2020
                    TABLE 30 SYNTHETIC RUBBER MARKET SIZE IN FOOTWEAR SEGMENT, BY REGION, 2019–2026 (KILOTON)
                    TABLE 31 SYNTHETIC RUBBER MARKET SIZE IN FOOTWEAR SEGMENT, BY REGION, 2019–2026 (USD MILLION)
    7.5 INDUSTRIAL
           7.5.1 STEADY RECOVERY IN THE MANUFACTURING SECTOR TO DRIVE THE SEGMENT
                    FIGURE 37 TOTAL INDUSTRY PRODUCTION OUTPUT INDEX OF OECD COUNTRIES, Q2-2019 – Q1-2021 (2015 = 100 INDEX)
                    TABLE 32 SYNTHETIC RUBBER MARKET SIZE IN INDUSTRIAL SEGMENT, BY REGION, 2019–2026 (KILOTON)
                    TABLE 33 SYNTHETIC RUBBER MARKET SIZE IN INDUSTRIAL SEGMENT, BY REGION, 2019–2026 (USD MILLION)
    7.6 CONSUMER GOODS
           7.6.1 CHANGING DEMAND FROM CONSUMERS IN APPAREL AND SPORTSWEAR TO DRIVE THE SEGMENT
                    TABLE 34 SYNTHETIC RUBBER MARKET SIZE IN CONSUMER GOODS SEGMENT,BY REGION, 2019–2026 (KILOTON)
                    TABLE 35 SYNTHETIC RUBBER MARKET SIZE IN CONSUMER GOODS SEGMENT, BY REGION, 2019–2026 (USD MILLION)
    7.7 OTHERS
           7.7.1 GROWTH OF MEDICAL AND PHARMACEUTICAL SECTOR ACROSS APAC TO DRIVE THE MARKET
                    TABLE 36 SYNTHETIC RUBBER MARKET SIZE IN OTHERS SEGMENT, BY REGION, 2019–2026 (KILOTON)
                    TABLE 37 SYNTHETIC RUBBER MARKET SIZE IN OTHERS SEGMENT, BY REGION, 2019–2026 (USD MILLION)

8 SYNTHETIC RUBBER MARKET, BY REGION (Page No. - 92)
    8.1 INTRODUCTION
           FIGURE 38 REGIONAL SNAPSHOT: RAPIDLY GROWING MARKETS ARE EMERGING AS NEW HOTSPOTS
           TABLE 38 SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2019–2026 (KILOTON)
           TABLE 39 SYNTHETIC RUBBER MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
    8.2 APAC
           FIGURE 39 APAC: SYNTHETIC RUBBER MARKET SNAPSHOT
           TABLE 40 APAC: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
           TABLE 41 APAC: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 42 APAC: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
           TABLE 43 APAC: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
           TABLE 44 APAC: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
           TABLE 45 APAC: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.2.1 CHINA
                    8.2.1.1 Growing industrialization to drive the demand for synthetic rubber
                               TABLE 46 CHINA NEW BUTADIENE CAPACITY IN 2020 (IN ‘000 TONS/YEAR)
                               TABLE 47 CHINA TIRE PRODUCTION IN 2015-2020 (MILLION UNITS)
                               TABLE 48 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 49 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 50 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 51 CHINA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.2.2 JAPAN
                    8.2.2.1 Emission standards to fuel growth of market during the forecast period
                               FIGURE 40 JAPAN AUTOMOTIVE PRODUCTION, 2010-2020
                               TABLE 52 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 53 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 54 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 55 JAPAN: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.2.3 SOUTH KOREA
                    8.2.3.1 Increasing automobile manufacturing to push demand for synthetic rubber during the forecast period
                               TABLE 56 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 57 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 58 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 59 SOUTH KOREA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.2.4 INDIA
                    8.2.4.1 Signs of recovery in automotive sector not visible in near future
                               TABLE 60 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 61 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 62 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 63 INDIA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.2.5 ASEAN
                    8.2.5.1 Lucrative opportunity for tire manufacturers to drive the market
                               TABLE 64 ASEAN COUNTRIES: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 65 ASEAN COUNTRIES: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 66 ASEAN COUNTRIES: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 67 ASEAN: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.2.6 AUSTRALIA & NEW ZEALAND
                    8.2.6.1 Growth in automotive sector to drive the market
                               TABLE 68 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 69 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 70 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 71 AUSTRALIA & NEW ZEALAND: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.2.7 REST OF APAC
                    TABLE 72 REST OF APAC: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                    TABLE 73 REST OF APAC : SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                    TABLE 74 REST OF APAC: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 75 REST OF APAC: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    8.3 NORTH AMERICA
           TABLE 76 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
           TABLE 77 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 78 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
           TABLE 79 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
           TABLE 80 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
           TABLE 81 NORTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.3.1 US
                    8.3.1.1 Increasing automotive export to drive the synthetic rubber market
                               FIGURE 41 NORTH AMERICA AUTOMOTIVE PRODUCTION
                               TABLE 82 US: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 83 US: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 84 US: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 85 US: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.3.2 CANADA
                    8.3.2.1 Policies relating to EVs to drive demand for synthetic rubber post COVID-19
                               TABLE 86 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 87 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE,2019–2026 (USD MILLION)
                               TABLE 88 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 89 CANADA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.3.3 MEXICO
                    8.3.3.1 Growth in automotive sector to drive the market
                               TABLE 90 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 91 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 92 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 93 MEXICO: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    8.4 EUROPE
           FIGURE 42 EUROPE: SYNTHETIC RUBBER MARKET SNAPSHOT
           FIGURE 43 EUROPE AUTOMOTIVE PRODUCTION AND Y-O-Y GROWTH (%), 2017-2020
           TABLE 94 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
           TABLE 95 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 96 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
           TABLE 97 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
           TABLE 98 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
           TABLE 99 EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.4.1 GERMANY
                    8.4.1.1 Government support to boost electric vehicle market to drive the market
                               FIGURE 44 GERMANY AUTOMOTIVE PRODUCTION AND EXPORT, 2018-2021
                               TABLE 100 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 101 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 102 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 103 GERMANY: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.4.2 UK
                    8.4.2.1 Expected recovery of automotive industry to drive the market
                               TABLE 104 UK: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 105 UK: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 106 UK: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 107 UK: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.4.3 FRANCE
                    8.4.3.1 Growing consumption of synthetic rubber in electric vehicles to drive the demand
                               TABLE 108 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 109 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 110 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 111 FRANCE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.4.4 RUSSIA
                    8.4.4.1 Market hampered by sharp decline in automobile production in the country
                               TABLE 112 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 113 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 114 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 115 RUSSIA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.4.5 ITALY
                    8.4.5.1 Increasing sale of EV to drive the synthetic rubber market
                               TABLE 116 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 117 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 118 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 119 ITALY: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.4.6 SPAIN
                    8.4.6.1 Significant recovery of economy and automotive industry to drive the market
                               FIGURE 45 SPAIN TOTAL AUTOMOTIVE PRODUCTION, 2020
                               TABLE 120 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 121 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 122 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 123 SPAIN: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.4.7 REST OF EUROPE
                    TABLE 124 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                    TABLE 125 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                    TABLE 126 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 127 REST OF EUROPE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    8.5 MIDDLE EAST & AFRICA
           TABLE 128 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
           TABLE 129 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 130 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
           TABLE 131 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
           TABLE 132 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
           TABLE 133 MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.5.1 SAUDI ARABIA
                    8.5.1.1 Vision 2030 and other government plans to boost the automotive industry
                               TABLE 134 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 135 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 136 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 137 SAUDI ARABIA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.5.2 UAE
                    8.5.2.1 Steady recovery of end-use industries from COVID-19 to support market growth
                               TABLE 138 UAE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 139 UAE: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 140 UAE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 141 UAE: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.5.3 SOUTH AFRICA
                    8.5.3.1 New vehicle market to witness slow demand
                               TABLE 142 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 143 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 144 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 145 SOUTH AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.5.4 REST OF MIDDLE EAST & AFRICA
                    TABLE 146 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                    TABLE 147 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                    TABLE 148 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 149 REST OF MIDDLE EAST & AFRICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
    8.6 SOUTH AMERICA
           TABLE 150 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (KILOTON)
           TABLE 151 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
           TABLE 152 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
           TABLE 153 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
           TABLE 154 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
           TABLE 155 SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.6.1 BRAZIL
                    8.6.1.1 Economic downturn and declining automobile production impacting synthetic rubber demand
                               FIGURE 46 BRAZIL TOTAL VEHICLE PRODUCTION, 2018-2021 (UNITS)
                               TABLE 156 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 157 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 158 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 159 BRAZIL: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.6.2 ARGENTINA
                    8.6.2.1 Increasing passenger car sales to drive the synthetic rubber market
                               TABLE 160 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                               TABLE 161 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                               TABLE 162 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                               TABLE 163 ARGENTINA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
           8.6.3 REST OF SOUTH AMERICA
                    TABLE 164 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (KILOTON)
                    TABLE 165 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
                    TABLE 166 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (KILOTON)
                    TABLE 167 REST OF SOUTH AMERICA: SYNTHETIC RUBBER MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)

9 COMPETITIVE LANDSCAPE (Page No. - 158)
    9.1 INTRODUCTION
           FIGURE 47 ACQUISITION IS THE KEY STRATEGY ADOPTED BY MARKET PLAYERS BETWEEN 2017 AND 2020
    9.2 MARKET SHARE ANALYSIS
           FIGURE 48 MARKET SHARE OF KEY PLAYERS, BASED ON PRODUCTION CAPACITY (2020)
           TABLE 168 STRATEGIC POSITIONING OF KEY PLAYERS
    9.3 MARKET EVALUATION FRAMEWORK
           FIGURE 49 MARKET EVALUATION FRAMEWORK: EXPANSION AND CONSOLIDATION
    9.4 COMPETITIVE SCENARIO
    9.5 REVENUE ANALYSIS OF TOP PLAYERS
           TABLE 169 REVENUE ANALYSIS OF KEY PLAYERS

10 COMPANY PROFILES (Page No. - 164)
(Business Overview, Products Offered, Recent Developments, MnM View)* 
     10.1 EXXON MOBIL CORPORATION
             FIGURE 50 EXXON MOBIL CORPORATION: COMPANY SNAPSHOT
     10.2 THE DOW CHEMICAL COMPANY
             FIGURE 51 THE DOW CHEMICAL COMPANY: COMPANY SNAPSHOT
     10.3 DUPONT
             FIGURE 52 DUPONT: COMPANY SNAPSHOT
     10.4 CHINA PETROLEUM AND CHEMICAL CORPORATION
             FIGURE 53 CHINA PETROLEUM AND CHEMICAL CORPORATION: COMPANY SNAPSHOT
     10.5 ASAHI KASEI CORPORATION
             FIGURE 54 ASAHI KASEI CORPORATION: COMPANY SNAPSHOT
     10.6 DENKA COMPANY LIMITED
             FIGURE 55 DENKA COMPANY LIMITED: COMPANY SNAPSHOT
     10.7 SABIC
             FIGURE 56 SABIC: COMPANY SNAPSHOT
     10.8 JSR CORPORATION
             FIGURE 57 JSR CORPORATION: COMPANY SNAPSHOT
     10.9 LANXESS AG
             FIGURE 58 LANXESS AG: COMPANY SNAPSHOT
     10.10 LG CHEMICAL
             FIGURE 59 LG CHEMICAL: COMPANY SNAPSHOT
     10.11 MITSUI CHEMICALS INC.
             FIGURE 60 MITSUI CHEMICAL INC.: COMPANY SNAPSHOT
     10.12 SIBUR
             FIGURE 61 SIBUR: COMPANY SNAPSHOT
     10.13 GOODYEAR TIRE AND RUBBER COMPANY
             FIGURE 62 THE GOODYEAR TIRE AND RUBBER COMPANY: COMPANY SNAPSHOT
     10.14 NIZHNEKAMSKNEFTEKHIM
             FIGURE 63 NIZHNEKAMSKNEFTEKHIM: COMPANY SNAPSHOT
     10.15 ZEON CORPORATION
             FIGURE 64 ZEON CORPORATION: COMPANY SNAPSHOT
     10.16 TRINSEO
             FIGURE 65 TRINSEO: COMPANY SNAPSHOT
     10.17 KUMHO PETROCHEMICAL COMPANY LTD.
             FIGURE 66 KUMHO PETROCHEMICAL CO. LTD.: COMPANY SNAPSHOT
     10.18 OTHER KEY MARKET PLAYERS
             10.18.1 GROUP DYNASOL
             10.18.2 KRATON CORPORATION
             10.18.3 SYNTHOS
             10.18.4 LION ELASTOMERS
             10.18.5 FIRESTONE POLYMERS
             10.18.6 INDIAN SYNTHETIC RUBBER PRIVATE LIMITED
*Details on Business Overview, Products Offered, Recent Developments, MnM View might not be captured in case of unlisted companies. 

11 APPENDIX (Page No. - 195)
     11.1 DISCUSSION GUIDE
     11.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     11.3 AVAILABLE CUSTOMIZATIONS
     11.4 RELATED REPORTS
     11.5 AUTHOR DETAILS

The study involved four major activities for estimating the current size of the global synthetic rubber market. Exhaustive secondary research was carried out to collect information on the market, the peer product market, and the parent product group market. The next step was to validate these findings, assumptions, and sizes with the industry experts across the value chain of synthetic rubber through primary research. Both the top-down and bottom-up approaches were employed to estimate the overall size of the synthetic rubber market. After that, market breakdown and data triangulation procedures were used to determine the size of different segments and sub-segments of the market.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dun & Bradstreet were referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, rubber journals & newsletters, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The synthetic rubber market comprises several stakeholders in the supply chain, which include suppliers, processors, and end-product manufacturers. Various primary sources from the supply and demand sides of the markets have been interviewed to obtain qualitative and quantitative information. The primary participants from the demand side include key opinion leaders, executives, vice presidents, and CEOs of companies in the synthetic rubber market. Primary sources from the supply side include associations and institutions involved in the synthetic rubber industry, key opinion leaders, and processing players.

Following is the breakdown of primary respondents

Synthetic Rubber Market Size, and Share

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

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the size of the global synthetic rubber market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry were identified through extensive secondary research.
  • The supply chain of the industry and market size, in terms of value, were determined through primary and secondary research.
  • All percentage shares split, and breakdowns were determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
  • The research includes the study of reports, reviews, and newsletters of key industry players along with extensive interviews with key officials, such as directors and marketing executives.

Data Triangulation

After arriving at the total market size through the estimation process explained above, the overall market was split into several segments and sub-segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market size estimation process and arrive at the exact statistics for all segments and sub-segments. The data was triangulated by studying various factors and trends from both the demand and supply sides. In addition, the market size was validated by using both the top-down and bottom-up approaches. Then, it was verified through primary interviews. Hence, for every data segment, there are three sources—top-down approach, bottom-up approach, and expert interviews. The data were assumed to be correct when the values arrived at from the three sources matched.

Report Objectives

  • To define, describe, and forecast the global synthetic rubber market in terms of both volume and value
  • To provide insights regarding the significant factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To analyze and forecast the market based on application
  • To analyze the impact of COVID-19 on the market
  • To forecast the market size, in terms of volume and value, with respect to five main regions, namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape
  • To strategically profile key players in the market
  • To analyze competitive developments in the market, such as new product launch, capacity expansion, and merger & acquisition
  • To strategically profile the leading players and comprehensively analyze their key developments, such as expansions and mergers & acquisitions, in the synthetic rubber market

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:

Product Analysis:

  • Product Matrix which gives a detailed comparison of the product portfolio of each company

Regional Analysis:

  • Further breakdown of the Rest of APAC market
  • Further breakdown of Rest of Europe market

Company Information:

  • Detailed analysis and profiling of additional market players (up to 5)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Synthetic Rubber Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Synthetic Rubber Market

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