Synthetic Rubber Market
Global Synthetic Rubber Market Size, Share & Trends Analysis Report by Product (Styrene Butadiene Rubber (SBR), Polybutadiene (Br), Ethylene Propylene (EPDM), Nitrile Butadiene Rubber (NBR), Isoprene Rubber (IR), Chloroprene Rubber (CR), Butyl Rubber (IIR), Others) by End User (Tires, Industrial application, Electronics, Footwear, Household, Others) Forecast 2022-2028
The global synthetic rubber market is anticipated to grow at a substantial CAGR of 5.1% during the forecast period 2022-2028. Synthetic rubber is mainly used in the manufacturing of tires, footwear, wire, industrial rubber goods such as hoses and belts, and cable coverings, adhesives, and sporting goods. Moreover, it is used for airplane tires, surgical gloves, and many of the other products. However, the major demand for rubber is driven by the automobile sector as automobiles tires are made of synthetic rubber blended with natural rubber. The automotive industry is the largest end-user of synthetic rubber contributing to its production. As per International Organization of Motor Vehicle Manufacturers, the global sale of vehicles in 2020 was 78.77 billion, and in 2021 all vehicles sale including commercial vehicles and passenger vehicles was 82.68 billion.
Natural rubber accounted for 40% of the rubber used in tires, and the remaining 60% is fragmented among a number of synthetic rubbers. SBR, butyl, and butadiene rubbers are the primary synthetics used in tire construction. These rubbers are used in different tire parts, such as the carcass, tread, and sidewall. The prevalence of synthetic rubber will speed up by the adoption of it in among various end user industries, which in turn will drive the market growth.
Impact of COVID-19 Pandemic on Global Synthetic Rubber Market
The COVID-19 pandemic has wreaked havoc on practically every industry in the region, including the automotive industry and electronics. The movement of raw material and manpower has slowed down which results in higher disruption of the synthetic rubber industry. Moreover, the COVID-19 pandemic caused the closure of assembly plants in the US, which affect manufacturing interruptions across the globe. In the first half of 2020, the prices of main synthetic rubber products have declined, due to the downstream production of the automobile industry, which results in a decline in the export volume of synthetic rubber products during the COVID-19 pandemic.
Segmental Outlook
The global synthetic rubber market is segmented on the basis of product, and end-user. Based on the product, the market is segmented into (SBR) , (BR), (EPDM), (NBR), (IR), (CR), (IIR), others. Based on the end-user, the market is further classified into tires, industrial application, electronics, footwear, household, and others. Based on product, the SBR segment is expected to grow rapidly during the forecast period. Owing to its identical properties and lower cost, it is largely used as a straight replacement for natural rubber. SBRs have a favorable strength, abrasion, wear, and other capabilities, which make is use among end-user industries.
Global Synthetic Rubber Market Share by Product, 2021 (%)
The Ethylene Propylene (EPMD) Segment is anticipated to Hold Prominent Share in the Global Synthetic Rubber Market
EPDM rubber or Ethylene propylene diene monomer rubber is used in various end-user industries such as glass-run channels, radiators, garden and appliance hose, tubing, and others. It is considered to be the most water-resistant rubber among all types of rubber, EPDM rubber is widely used for manufacturing sheeting used at high temperatures. EPDM rubber is one of the most commonly used and fastest-growing synthetic rubbers having both general-purpose and specialty applications. Owing to its advanced features, such as Excellent resistance to heat, oxidation, ozone, and weather aging which led to increased demand for this rubber in automotive, construction, and mechanical goods applications.
Regional Outlooks
The global synthetic rubber market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea and the Rest of the World (the Middle East &Africa, and Latin America). North America is anticipated to hold the largest share in the global synthetic rubber market, this growth in the use of the industrial rubber can be attributed to the increasing population, and growing number of manufacturing industries in the region, which fueled the growth of the market.
Global Synthetic Rubber Market Growth, by Region 2021-2028
The Asia-Pacific Region Holds a Major Share in Global Synthetic Rubber Market
Asia Pacific synthetic rubber market is estimated to grow with lucrative growth during the forecast period. The high adoption of synthetic rubber in various applications is one of the chief factors for the growth of the market in the region. China, India, Thailand, Indonesia, Malaysia, Vietnam are among the top producer of natural and synthetic rubber all across the globe. Moreover, the region caters to the significant application of synthetic rubber including tires. In addition, India and China is the major countries exporting synthetic rubber on a large scale. For instance, according to OEC.World, in2020 China’s share in exporting the synthetic rubber was 3.35% and exported $739 million synthetic rubber to other countries.
Market Players Outlook
The major companies serving the global synthetic rubber market are Dow Chemical Co., Goodyear Tire & Rubber Co., Reliance Industries Ltd., Saudi Basic Industries Corp. (SABIC), TSRC, Asahi Kasei Chemicals Corp., China Petrochemical Corp., and Denka Co. Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2021, Trinseo announced that it has agreed to sell its synthetic rubber business based in Schkopau, Germany to Synthos S.A. with this agreement Trinseo provides a stronger balance sheet and growth opportunities to Synthos S.A.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global synthetic rubber market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Synthetic Rubber Market
• Recovery Scenario of Global Synthetic Rubber Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key CompanyAnalysis
3.1.1. Dow Chemical Co.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Goodyear Tire & Rubber Co.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Reliance Industries Ltd.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Saudi Basic Industries Corp. (SABIC)
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. TSRC
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. Global Synthetic Rubber Market by Product
5.1.1. Styrene butadiene rubber (sbr)
5.1.2. Polybutadiene (br)
5.1.3. Ethylene propylene (epdm)
5.1.4. Nitrile butadiene rubber (nbr)
5.1.5. Isoprene rubber (ir)
5.1.6. Chloroprene rubber (cr)
5.1.7. Butyl rubber (iir)
5.1.8. Others
5.2. Global Synthetic Rubber Market by End user
5.2.1. Tires
5.2.2. Industrial application
5.2.3. Electronics
5.2.4. Footwear
5.2.5. Household
5.2.6. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
7. Company Profiles
7.1. Asahi Kasei Chemicals Corp.
7.2. China Petrochemical Corp.
7.3. Denka Co. Ltd.
7.4. Dynasol Gestión SL
7.5. Exxon Mobil
7.6. Indian Synthetic Rubber Pvt. Ltd.
7.7. JSR Corp.
7.8. Kumho Petrochemical Co. Ltd.
7.9. Kuraray Co. Ltd.
7.10. LCY Chemical Corp.
7.11. LG Chemical
7.12. Lion Elastomers
7.13. Michelin
7.14. Sumitomo Chemical Co., Ltd.
7.15. Trinseo PLC
7.16. UBE Corp.
1. GLOBAL SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028($ MILLION)
2. GLOBAL STYRENE BUTADIENE RUBBER (SBR) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL POLYBUTADIENE (BR) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL ETHYLENE PROPYLENE (EPDM) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL NITRILE BUTADIENE RUBBER (NBR) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL ISOPRENE RUBBER (IR) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL CHLOROPRENE RUBBER (CR) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL NITRILE BUTADIENE RUBBER (NBR) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL BUTYL RUBBER (IIR) SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL OTHERS SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
12. GLOBAL SYNTHETIC RUBBER FOR TIRES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL SYNTHETIC RUBBER FOR INDUSTRIAL APPLICATION MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
14. GLOBAL SYNTHETIC RUBBER FOR ELECTRONICS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL SYNTHETIC RUBBER FOR FOOTWEAR MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
16. GLOBAL SYNTHETIC RUBBER FOR HOUSEHOLD MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL SYNTHETIC RUBBER FOR OTHERS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. NORTH AMERICAN SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
19. NORTH AMERICAN SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
20. NORTH AMERICAN SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
21. NORTH AMERICAN SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL ANALYSIS, 2021-2028 ($ MILLION)
22. EUROPEAN SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
23. EUROPEAN SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
24. EUROPEAN SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
25. ASIA-PACIFIC SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
26. ASIA-PACIFIC SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
27. ASIA-PACIFIC SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
28. REST OF THE WORLD SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. REST OF THE WORLD SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY TYPE, 2021-2028 ($ MILLION)
30. REST OF THE WORLD SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY END USER, 2021-2028 ($ MILLION)
31. REST OF THE WORLD SYNTHETIC RUBBER MARKET RESEARCH AND ANALYSIS BY RAW MATERIAL ANALYSIS, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL SYNTHETIC RUBBER MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL SYNTHETIC RUBBER MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL SYNTHETIC RUBBER MARKET, 2021-2028 (%)
4. GLOBAL SYNTHETIC RUBBER MARKET SHARE BY TYPE, 2021 VS 2028 (%)
5. GLOBAL STYRENE BUTADIENE RUBBER (SBR) SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL POLYBUTADIENE (BR) SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL ETHYLENE PROPYLENE (EPDM) SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL NITRILE BUTADIENE RUBBER (NBR) SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL ISOPRENE RUBER(IR) SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL CHLOROPRENE RUBBER (CR) SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL BUTYL RUBBER(IIR) SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL OTHERS SYNTHETIC RUBBER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL SYNTHETIC RUBBER MARKET SHARE BY END USER, 2021 VS 2028 (%)
14. GLOBAL SYNTHETIC RUBBER FOR TIRES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
15. GLOBAL SYNTHETIC RUBBER FOR INDUSTRIAL APPLICATION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL SYNTHETIC RUBBER FOR ELECTRONICS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. GLOBAL SYNTHETIC RUBBER FOR FOOTWEAR MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL SYNTHETIC RUBBER FOR HOUSEHOLD MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL SYNTHETIC RUBBER FOR OTHERS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. GLOBAL SYNTHETIC RUBBER MARKET SHARE BY RAW MATERIAL ANALYSIS, 2021 VS 2028 (%)
21. US SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
22. CANADA SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
23. UK SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
24. FRANCE SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
25. GERMANY SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
26. ITALY SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
27. SPAIN SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
28. REST OF EUROPE SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
29. INDIA SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
30. CHINASYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
31. JAPAN SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
32. SOUTH KOREA SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
33. REST OF ASIA-PACIFIC SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
34. REST OF THE WORLD SYNTHETIC RUBBER MARKET SIZE, 2021-2028 ($ MILLION)
