Fort Collins, Colorado, Sept. 19, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Synthetic Rubber Market Size, Growth, Share, Statistics Report, By Type (Styrene Butadiene Rubber, Poly Butadiene Rubber, Silicone Rubber, Ethylene-Propylene-Diene Monomer Rubber, Butyl Rubber, and Acrylonitrile Butadiene Rubber), By Industry Users, By Region and Segment Forecasts, 2023-2032.”
According to DataHorizzon Research, The synthetic rubber market size was valued at USD 24.1 Billion in 2022 and is expected to grow at a CAGR of 5.1% and reach USD 39.3 Billion by 2032. Synthetic rubber is a major component used as an input for manufacturing consumer goods, medical and industrial products. Besides, the rising use of synthetic rubbers for construction activities in urban areas creates novel opportunities for the rubber industry.
Synthetic rubber is preferred for its qualities like water and ozone resistance, chemical and abrasion resistance, and ability to perform effectively in both low and high temperatures and under damp and humid conditions. This makes it preferred over natural rubber as the manufacturer does not have to worry about the final product getting damaged due to changes in rubber properties due to external conditions.
Request Sample Report: https://datahorizzonresearch.com/request-sample-pdf/synthetic-rubber-market-2138
Report Snapshot:
| Report Title | Synthetic Rubber Market |
| Market Size in 2022 | USD 24.1 Billion |
| Market Size by 2032 | USD 39.3 Billion |
| CAGR from 2023 to 2032 | 5.1% |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends, and Growth Factors |
| By Type | Styrene Butadiene Rubber, Poly Butadiene Rubber, Silicone Rubber, Ethylene Propylene Diene Monomer Rubber, Butyl Rubber and Acrylonitrile Butadiene Rubber |
| By Industry | Tyre, Automotive, Textile, Construction |
| By Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia, and South Africa, among others |
| Major Market Players | Dow Chemical Company, Apcotex Industries Ltd, Goodyear Tire and Rubber Company, Lanxess, Sumitomo Chemical, Bridgestone |
Segmentation Overview
The global synthetic rubber market has been segmented based on type, industry, and region. Styrene Butadiene rubber holds a major share in the type segment as it is water, chemical, heat and moisture resistant and is also the cheapest, making it preferred over other rubber types. Synthetic rubber is used in the tire and automobile industries as it is used in many automobile components like inner tubes, tires, vehicle belts, and gaskets. Also, this rubber is found to be suitable in electric vehicle manufacturing, and with growing demand for automobiles, synthetic rubber demand is also expected to observe an upward trend.
Asia Pacific dominates the synthetic rubber market in terms of both production and export as Asian countries like China and Thailand hold significant market share in tire production globally. Additionally, countries like China, India, South Korea, and Japan hold a significant share in automobile manufacturing, and China and India are also observing major growth in the construction industry. These industries heavily depend on synthetic rubber, so this region contributes to a dominant share in the synthetic rubber market. North America also holds a significant share due to its huge and rising automobile industry and rising electric vehicle production.
Buy This Research Report: https://datahorizzonresearch.com/checkout-page/synthetic-rubber-market-2138
Key Developments in the Industry:
- In September 2023, Sibur Holidng, a Russia-based synthetic rubber company, announced that they had completed the expansion process of their Nizhnekamskneftekhim plant. This will help the company produce 200,000 tons of synthetic rubber per year. The company manufactures halobutyl rubber used in vehicle tire manufacturing.
- In May 2023, Arlanxeo, a Netherlands-based rubber company announced that the company is setting up a synthetic rubber production plant in Saudi, which is expected to become operational from 2027. The plant will manufacture neodymium-catalyzed ultra-high cis-polybutadiene rubber and lithium butadiene rubber.
Synthetic Rubber Market Report Highlights:
- The synthetic rubber market is projected to rise at a CAGR of 5.1% by 2032.
- Styrene Butadiene rubber leads the synthetic rubber type segment as these are heat, acid, and temperature resistant, which makes it applicable over a large product portfolio. Additionally, the price is comparatively lower than other rubber types, making it a preferred choice.
- Tire and automobile industry dominates the industry segment due to rising demand for automobiles, which in turn drives the demand for tires and other automobile components like matting, doors and windows, belts, and gaskets. All these components, being manufactured from synthetic rubber contribute to the market demand.
- Based on region, Asia Pacific dominates the synthetic rubber market as this region is home to many major tire and automotive industries. Synthetic rubber is a major input in these industries, the demand for this rubber is high in this region, making it a substantial consumer of synthetic rubber. North America also account for a significant market share due to growing automotive, especially electric vehicles that use synthetic rubber in their manufacturing process.
- Some of the prominent players in the synthetic rubber industry report include Dow Chemical Company, Apcotex Industries Ltd, Goodyear Tire and Rubber Company, Lanxess, Sumitomo Chemical, Bridgestone, and others.
Looking Exclusively For Region/Country Specific Report? https://datahorizzonresearch.com/ask-for-customization/synthetic-rubber-market-2138
OR
Ask For Discount https://datahorizzonresearch.com/ask-for-discount/synthetic-rubber-market-2138
Synthetic Rubber Market Report Segmentation:
Synthetic Rubber Market, By Type (2023-2032)
- Styrene Butadiene rubber
- Polybutadiene rubber
- Silicone Rubber
- Ethylene Propylene Diene Monomer rubber
- Butyl rubber
- Acrylonitrile Butadiene rubber
Synthetic Rubber Market, By Industry (2023-2032)
- Tyre industry
- Automotive industry
- Textile industry
- Construction industry
Synthetic Rubber Market, By Region (2023-2032)
- North America
-
- U.S.
- Canada
- Europe
-
- U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
-
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
About DataHorizzon Research:
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
Contact:
Mail: sales@datahorizzonresearch.com
Ph: +1-970-672-0390
Website: https://datahorizzonresearch.com/
Follow Us: LinkedIn
Recent Publications
Methanol Market 2023 to 2032
Biofertilizers Market 2023 to 2032
Hot Melt Adhesives Market 2023 to 2032
Aluminum Market 2023 to 2032
Surfactants Market 2023 to 2032
