The report "Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR) Application (Tire, Automotive (Non-tire), Footwear, Industrial Goods, Consumer Goods, Textiles), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2027 ", Synthetic rubber market size is projected to reach USD 28.9 billion by 2027 from USD 23.0 billion in 2022 growing at a CAGR of 4.6%.
Browse 206 market data Tables and 53 Figures spread through 231 Pages and in-depth TOC on "Synthetic Rubber Market by Type (SBR, BR, SBC, EPDM, IIR, NBR) Application (Tire, Automotive (Non-tire), Footwear, Industrial Goods, Consumer Goods, Textiles), and Region (North America, Europe, APAC, South America, MEA) - Global Forecast to 2027 "
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/synthetic-rubber-market-761.html
Tire is the major application segment for synthetic rubber market. The recovery of automotive sector in the across the world is driving the synthetic rubber market during the forecast period. Moreover, the development of eco-friendly technologies for production of synthetic rubber and growing demand for electric & hybrid vehicles are new opportunities in synthetic rubber market.
Tire segment is estimated to register highest CAGR during the forecast period.
Tire segment is the fastest growing end use application in the synthetic rubber market. The tire segment is estimated to remain the largest end-use segment of synthetic rubber during the forecast period, followed by automotive (non-tire) in terms of volume. The applications of synthetic rubber in the automotive industry will increase as the EV market gains traction. Synthetic rubber is used in the sidewalls and treads of tires. The increasing demand for tires offering a smoother and quieter ride with better fuel efficiency has compelled manufacturers to use better materials such as synthetic rubber and silane. Synthetic tires are widely used in military vehicles and heavy-duty vehicles.
Asia Pacific is estimated to register the highest CAGR during the forecast period.
In Terms of volume and value of the synthetic rubber market in 2022, Asia Pacific region accounts to be the largest market. The demand in asia pacific region is driven by the countries like China, India & Japan. China country has undergone massive industrialization with heavy capital investments and development projects in the infrastructure sector to maintain its position in the competitive global market. It is currently one of the fastest-growing economies in the world. As a result of the surging manufacturing, transportation, and construction sectors, backed by low raw material and labor costs, synthetic rubber manufacturers are increasing their presence in China. Asia Pacific is one of the leading consumers of synthetic rubber due to the increasing demand from developing countries. The increasing demand for high-quality consumer goods and industrial products, rising population, and growing application segments have made it a strong industrial hub.
The Major players in the market are Sinopec (China), DuPont (U.S), The Dow Chemical Company (U.S), ExxonMobil (U.S), Kumho Petrochemical Company Ltd (South Korea), SABIC (Saudi Arabia), Denka Company Ltd. (Japan), and Asahi Kasei Corporation (Japan).
Don’t miss out on business opportunities in Synthetic Rubber Market. Speak to our analyst and gain crucial industry insights that will help your business grow.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441