-- Synthetic Rubber Market Dynamics Can Benefit from Automotive Sector
Synthetic Rubber Market to Have a Strong Base from Construction Sector
Segmental Analysis:
The latest report of MRFR on the synthetic rubber market segments the market by type and end-user industry. This further includes volume-wise and value-wise data of the segments to make the report more holistic.
By type, the synthetic rubber market includes Nitrile rubber (NBR), butadiene rubber (BR), styrene butadiene rubber (SBR), Styrenic Block Copolymers (SBC), Ethylene Propylene Diene Monomer (EPDM), and others. Other type includes isobutylene-isoprene (IIR), Polyisoprene rubber (IR), and Chloroprene rubber (CR). SBR has considerable sway over the market due to its excellent water resistance, low-temperature flexibility, and heat aging properties. This has made the component popular among manufacturers of tubes, gaskets, conveyor belt covers, lining rubber, hoses, belts, tires, and seals. BR can substantially infiltrate construction and footwear industries.
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Based on the end-user industries, the synthetic rubber market can be segmented into automotive & transportation, construction, footwear, industrial, and others. The automotive & transportation segment has considerable reach in the market owing to the increasing consumption. Rising construction activities in several regions are expected to provide thrust to the market growth.
Overview:
The global synthetic rubber market, as claimed by Market Research Future (MRFR) in their prediction for the forecast period (2016-2023) could achieve substantial CAGR and edge past the predicted valuation. The market is gaining favorable tailwind from several factors which can influence the market dynamics. Synthetic rubber is synthesized from petroleum byproducts and is an artificial elastomer. It has superior thermal stability and petroleum product compatibility than natural rubber. Its other features include extremely good elasticity, oil resistance, durability, and waterproofing which have made synthetic rubber one of an integral part of the production of several end-user industries such as construction, footwear, automotive & transportation, industrial, and others.
The growth of synthetic rubbers in the coming years would mostly depend on the automotive industry. Tire manufacturing can play a major part in shaping the future for the synthetic rubber market. In addition, several new entrants would drive the market ahead with their innovative products. This would receive influence from the rising demand for eco-friendly products. Other than these sectors, the entertainment industry (In sports like Formula One and others), the construction industry, and others can ensure prospects for the market. But the volatile raw material prices could curb the expected growth rate of the synthetic rubber substantially.
Regional Analysis:
The geographical analysis of the synthetic rubber market, as written in the report of Market Research Future (MRFR) includes Asia Pacific (APAC), Europe, North America, Latin America, and the Middle East & Africa (MEA).
The APAC is expected to fetch the maximum market share. Several countries in the region such as India, China, Japan, Thailand, Malaysia, and others are making changes in their industrial sector that includes automotive, construction, and other which is taking the synthetic rubber market ahead. The markets in the region are thriving for the easy availability of products and cost-effective labors. These features have also lured in several players who have engaged themselves in strategic battles which are providing thrust to the market.
Europe’s synthetic rubber market can rise further with demands getting generated from automotive and footwear sectors. The automotive sector is quite robust, and it ensures high growth for the synthetic rubber market. North America’s growth would be substantial with the construction sector creating the base.
Competitive Landscape:
Several players are getting involved in the global synthetic rubber market, and their strategic moves are creating options for the market to work upon and expand. Companies influencing the market are LANXESS (Germany), Sumitomo Chemical Co., Ltd. (Japan), Versalis S.p.A. (Italy), The Dow Chemical Company (U.S.), LGChem (SouthKorea), Kumho Petrochemical (South Korea), ZEON Corporation (Japan), JSR Corporation (Japan), ExxonMobil (U.S.), Asahi Kasei Corporation (Japan), and others.
In 2018, Trinseo new product S-SBR grade was all set to grab eyes. The company has made a name for itself as a global manufacturer of plastics, latex binders, and synthetic rubber. The product can serve diversely by balancing energy efficiency and increasing processability. They have inaugurated their new plant for the production of the synthetic rubber in Schkopau in Germany.
Table of Contents:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Synthetic Rubber Market
5 Industry Overview Of Global Synthetic Rubber Market
5.1 Introduction
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.1 Introduction
6.2 Growth Trends
6.3 Impact Analysis
List of Tables:
Table 1 World Population By Major Regions (2016 To 2023)
Table 2 Global Synthetic Rubber Market: By Region, 2016-2023
Table 3 North America Synthetic Rubber Market: By Country, 2016-2023
Table 4 Europe Synthetic Rubber Market: By Country, 2016-2023
Table 5 Asia-Pacific Synthetic Rubber Market: By Country, 2016-2023
Table 6 Middle East & Africa Synthetic Rubber Market: By Country, 2016-2023
Table 7 Latin America Synthetic Rubber Market: By Country, 2016-2023
Table 8 Global Synthetic Rubber By Type Market: By Regions, 2016-2023
Table 9 North America Synthetic Rubber By Type Market: By Country, 2016-2023
Table 10 Europe Synthetic Rubber By Type Market: By Country, 2016-2023
Table11 Asia-Pacific Synthetic Rubber By Type Market: By Country, 2016-2023
Table12 Middle East & Africa Synthetic Rubber By Type Market: By Country, 2016-2023
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/synthetic-rubber-market-4952
Release ID: 88922283
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